Lockheed Martin
Top U.S. federal contractor since at least 2008.
Lockheed Martin is an American defense and aerospace manufacturer headquartered in North Bethesda, Maryland. It was formed by the merger of Lockheed Corporation and Martin Marietta on March 15, 1995. As of 2023, it is the top contractor of the United States federal government, a position it has held since at least 2008, and in 2024, 73% of its revenue came from the federal government, including 65% from the Department of Defense.
Quick Facts
- Traded As
- LMT · S&P 100 component · S&P 500 component
- Industry
- Aerospace · Defense
- Predecessors
- Lockheed Corporation · Martin Marietta
- Founded
- 1995-03-15
- Hq Location
- Bethesda, Maryland, United States
- Area Served
- Worldwide
- Key People
- James Taiclet (chair, president & CEO) · Frank St. John (COO) · Evan Scott (CFO)
- Operating Income
- US$7.731 billion (2025)
- Net Income
- US$5.017 billion (2025)
- Assets
- US$59.84 billion (2025)
- Equity
- US$6.721 billion (2025)
- Num Employees
- 123,000 (2025)
Facts from the source article.
Lore & Background
Lockheed Martin was created by the merger of Lockheed Corporation and Martin Marietta, announced on August 30, 1994, and finalized on March 15, 1995. The headquarters was placed at the former Martin Marietta headquarters in North Bethesda, Maryland. Both companies contributed major products, including the Trident missile, F-16 Fighting Falcon, C-130 Hercules, Titan rockets, and the Space Shuttle External Tank. In 1996, Lockheed Martin acquired Loral Corporation's defense electronics and system integration businesses for $9.1 billion. A planned $8.3 billion merger with Northrop Grumman was abandoned on July 16, 1998, due to government concerns. The company also developed the texture mapping chip for the Sega Model 2 arcade system and the graphics system for the Sega Model 3 in the 1990s.
Reader's Guide
Lockheed Martin's significance stems from its role as the top contractor of the U.S. federal government since at least 2008, with 73% of its 2024 revenue coming from the federal government. It is the prime contractor for the F-35 Lightning II, which accounted for 26% of 2024 revenue, and leads the international supply chain for that aircraft. The company also manufactures the MIM-104 Patriot air-defense system and its PAC-3 MSE interceptor, with plans announced in 2026 to increase production to 2,000 interceptors annually. Lockheed Martin is the primary contractor for the Orion command module and leads the development of the new USAF Space Fence. It has received the Collier Trophy six times, including in 2001 for the X-35/F-35B LiftFan Propulsion System and in 2018 for the Automatic Ground Collision Avoidance System. The company also provides surveillance and information processing services to multiple U.S. agencies, including the CIA, FBI, IRS, NSA, and the Pentagon.
Did You Know?
- In 2024, 73% of Lockheed Martin's revenue came from the U.S. federal government.
- The company developed the graphics system for the Sega Model 3 arcade system in the 1990s.
- Lockheed Martin incorrectly provided NASA with software using US Customary units for the Mars Climate Orbiter, resulting in the loss of the $125 million orbiter.
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