Lockheed Martin

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Lockheed Martin (NYSELMT) is a United States aerospace, defense, security, and advanced technology company with worldwide interests. It was formed by the merger of Lockheed Corporation with Martin Marietta in March 1995. It is headquartered in Bethesda, Maryland, in the Washington Metropolitan Area. Lockheed Martin employs 140,000 people worldwide. Robert J. Stevens is the current Chairman, President, and Chief Executive Officer.

Lockheed Martin is among the very largest defense contractors in the world, and in 2008 70% of Lockheed Martin's revenues came from military sales.[1]

The company has received the Collier Trophy twice – in 2001 for being part of developing the X-35/F-35B LiftFan Propulsion System,[2][3][4] and again in 2006 for leading the team that developed the F-22 Raptor fighter jet.

Contents

History

Merger talks between Lockheed Corporation and Martin Marietta began in March 1994, with the companies announcing their $10 billion planned merger on August 30, 1994.[5] The deal was finalized on March 15, 1995 when the two companies' shareholders approved the merger.[6] The segments of the two companies not retained by the new company formed the basis for the present L-3 Communications, a mid-size defense contractor in its own right. Lockheed Martin later spun off the materials company Martin Marietta Materials.

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