Lockheed Martin
66527
224797379
2008-07-10T13:31:08Z
192.91.147.35
/* Information Systems and Global Services */
{{Infobox Company | <!-- infobox source: http://www.hoovers.com/lockheed-martin/--ID__10903--/free-co-factsheet.xhtml -->
company_name = Lockheed Martin
| company_logo = [[Image:LMLogo.png|240px]]
| company_type = [[Public company|Public]] ([[New York Stock Exchange|NYSE]]: '''[http://www.nyse.com/about/listed/lcddata.html?ticker=LMT LMT]''')
| company_slogan = "We never forget who we're working for"
| foundation = 1912 (in 1995, company took on current name)
| location = [[Bethesda, Maryland|Bethesda]], [[Maryland]], USA
| area_served = [[Worldwide]]
| key_people = [[Robert J. Stevens]]<small><br>([[Chair (official)|Chairman]]), ([[President]]) & ([[Chief executive officer|CEO]])</small><br>[[Bruce L. Tanner]]<br><small>([[Vice-President#Vice_presidents_in_business|Executive Vice President]]) & ([[Chief Financial Officer|CFO]])</small>
| num_employees = 140,000 (2008)
| industry = [[Aerospace engineering|Aerospace]]<br>[[Defense (military)|Defense]]
| market cap = [[United States dollar|US$]] 41.45 billion (2008)
| revenue = {{profit}} US$ 41.862 billion (2007)<br>(backlog of US$ 74.825 billion)
| operating_income = {{profit}} US$ 4.527 billion (2007)
| net_income = {{profit}} US$ 3.033 billion (2007)
| assets = {{increase}} US$ 28.926 billion (2007)
| equity = {{increase}} US$ 9.805 billion (2007)
| products = [[Air traffic control|ATC systems]]<br>[[Ballistic missiles]]<br>[[Munitions]]<br>[[National missile defense|NMD elements]]<br>[[Transport aircraft]]<br>[[Fighter aircraft]]<br>[[Radar]]<br>[[Satellites|Satellite]]<br>[[Atlas (rocket family)|Atlas launch vehicles]]<br>[[NASA]]'s [[Orion (spacecraft)|Orion spacecraft]]
| homepage = [http://www.lockheedmartin.com/ LockheedMartin.com]
}}
{{For|the former companies|Lockheed|Martin Marietta}}
'''Lockheed Martin''' ({{nyse|LMT}}) is a leading [[Multinational corporation|multinational]] [[aerospace manufacturer]] and advanced technology [[company]] formed in 1995 by the [[Horizontal integration|merger]] of [[Lockheed Corporation]] with [[Martin Marietta]]. It is headquartered in [[Bethesda, Maryland|Bethesda]], an [[unincorporated area]] in [[Montgomery County, Maryland|Montgomery County]], [[Maryland]] and a [[suburb]] of [[Washington, D.C.]] Lockheed Martin employs 140,000 people worldwide. [[Robert J. Stevens]] is the current [[Chair (official)|Chair]]man, [[President]], and [[Chief executive officer|Chief Executive Officer]].
Lockheed Martin is the world's largest [[defense contractor]] by revenue.<ref name="defensenews_2007_ranking">"[http://www.defensenews.com/static/features/top100/charts/rank_2007.php?c=FEA&s=T1C Defense News Top 100]." ''[[Defense News]]''.</ref> [[As of 2005]], 95% of Lockheed Martin's revenues came from the [[United States]] [[United States Department of Defense|Department of Defense]], other [[Federal government of the United States|U.S. federal government]] agencies, and foreign military customers.
A team led by prime contractor Lockheed Martin won the 2006 [[Collier Trophy]] for the development of the [[F-22 Raptor]] [[Fighter aircraft|fighter jet]].
==History==
Merger talks between Lockheed Corporation and Martin Marietta began in March 1994, with the companies announcing their $10 billion planned merge on [[August 30]], [[1994]].<ref>{{cite news |first=Floyd |last=Norris|title=A 'merger of equals,' with Martin Marietta the most equal |work=The New York Times |date=1994-08-31 |accessdate=2008-05-03 }}</ref> The deal was finalized on [[March 15]], [[1995]] when the two companies' shareholders approved the merger.<ref>{{cite news|title=Martin Marietta-Lockheed merger is approved|work=The New York Times|date=1995-03-16 |accessdate=2008-05-03 }}</ref> 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.
Both companies contributed important products to the new portfolio. [[Lockheed Corporation|Lockheed]] products included the [[Trident missile]], [[P-3 Orion]], [[F-16 Fighting Falcon]], [[F-22 Raptor]], [[C-130 Hercules]], [[A-4AR Fightinghawk]] and the DSCS-3 satellite. [[Martin Marietta]] products included [[Titan (rocket family)|Titan rockets]], [[Sandia National Laboratories]] (management contract acquired in 1993), [[Space Shuttle external tank|Space Shuttle External Tank]], [[Viking 1]] and [[Viking 2]] landers, the Transfer Orbit Stage (under subcontract to [[Orbital Sciences Corporation]]) and various satellite models.
On [[April 22]], [[1996]], Lockheed Martin completed the acquisition of [[Loral Corporation]]'s defense electronics and system integration businesses for $9.1 billion, the deal having been announced in January. The remainder of Loral became [[Loral Space & Communications]].<ref>{{cite news |first=John |last=Mintz |title=Lockheed-Martin Loral Merger May Mean a Loss of Business; McDonnell Douglas Threatens to Cancel Billions in Contracts|work=The Washington Post |date=1996-04-23 |accessdate=2008-05-03 }}</ref>
Lockheed Martin abandoned plans for a $8.3 billion merger with [[Northrop Grumman]] on [[July 16]], [[1998]] due to government concerns over the potential strength of the new group; Lockheed/Northrop would have had control of 25% of the Department of Defense's procurement budget.<ref>{{cite news |first=Leslie |last=Wayne|title=Lockheed cancels Northrop merger, citing U.S. stand|work=The New York Times |date=1998-07-17 |accessdate=2008-05-03 }}</ref>
In May 2000, Lockheed Martin sold [[BAE Systems Platform Solutions|Lockheed Martin Control Systems]] to [[BAE Systems]]. On [[November 27]], [[2000]], Lockheed completed the sale of its [[Lockheed Martin Aerospace Electronic Systems|Aerospace Electronic Systems]] business to BAE Systems for [[United States dollar|$]]1.67 billion, a deal announced in July 2000. This group encompassed [[Sanders Associates]], [[Fairchild Systems]], and Lockheed Martin Space Electronics & Communications.<ref>{{cite news |title=Contract for BAE|work=The Times |publisher=Times Newspapers |date=2000-11-28 |accessdate=2008-05-03 }}</ref><ref>{{cite news |first=Carl|last=Parreault|title=British aerospace firm buys Sanders |work=The Union Leader|date=2004-07-14 |accessdate=2008-05-03 }}</ref>
In [[2001 in aviation|2001]], Lockheed Martin won the contract to build the [[F-35 Lightning II]]; this was largest fighter aircraft procurement project since the F-16, with an initial order of 3,000 worth $200 billion before export orders.
On [[May 12]], [[2006]], ''[[The Washington Post]]'' reported that when Robert Stevens took control of Lockheed Martin in 2004, he faced the dilemma that within 10 years 100,000 of the about 130,000 Lockheed Martin employees would be retiring.<ref>Dutt, Jill. "Taking an Engineer's Approach at Lockheed Martin." Washington Post, May 1, 2006.[http://www.washingtonpost.com/wp-dyn/content/article/2006/04/29/AR2006042901732.html]</ref>
On [[August 31]], [[2006]], Lockheed Martin won a $3.9 billion contract from NASA to design and build the CEV capsule, also known as the ''[[Orion (spacecraft)|Orion]]'' – the next [[spacecraft|spaceship]] for [[human spaceflight|human flight]] – for the Ares I rocket in the Constellation Program.
[[Image:Lockheed C-130 Hercules.jpg|thumb|right|[[C-130 Hercules]]; in production since the 1950s, now as the C-130J]]
==Controversy==
In September 1999, the [[Mars Climate Orbiter]] smashed into the surface of [[Mars]] and was destroyed. Lockheed accepted blame for the demise of the craft after an investigation revealed that the Lockheed team incorrectly programmed the [[Mars Climate Orbiter]] with English units instead of metric units.
In 2000, Lockheed agreed to pay a $13 million settlement to the U.S. government for breaching the [[Arms Export Control Act]]. The company had passed information to [[AsiaSat]], of which a major shareholder is the [[People's Republic of China|Chinese]] [[Politics of the People's Republic of China|government]]. According to the [[United States Department of State|U.S. Department of State]], the information given to AsiaSat may have helped China improve its missiles.
In 2003, Lockheed Martin benefited from a [[United States Air Force|U.S. Air Force]] decision to punish the [[Boeing|Boeing Company]] for conducting [[industrial espionage]] against its rival. The USAF revoked $1 billion worth of contracts from Boeing and awarded them to Lockheed Martin. The company sued Boeing in 1998 for stealing documents related to a military contract.
On [[January 12]], [[2006]], the [[United States Army|U.S. Army]] canceled a $879 million [[Aerial Common Sensor]] contract with Lockheed Martin. The Army found that the weight of the [[Aerial Common Sensor]] electronics payload exceeded the [[Embraer]] 145 airframe, which was Lockheed's selected aircraft.
On [[November 2]], [[2006]], the $154 million [[Mars Global Surveyor]] suffered a critical malfunction from a faulty command sent from Lockheed Martin Space Systems in [[Denver]]. The spacecraft was lost when the power loss cut off communications with the orbiter. On [[December 1]], [[2006]] all of Lockheed Martin's commercial launch operations were transferred to the [[United Launch Alliance]]. The joint venture between Lockheed Martin and [[Boeing]] was first announced [[May 2]], [[2005]].
On [[February 13]], [[2007]] a New Mexico state court found [[Sandia Corporation]], a wholly owned subsidiary of Lockheed Martin, liable for $4.7 million in damages for the firing of a former network security analyst, [[Shawn Carpenter]]. Carpenter had reported to his supervisors that hundreds of military installations and defense contractors' networks were compromised and sensitive information was being stolen – including hundreds of sensitive Lockheed documents on the [[Mars Reconnaissance Orbiter]] project.
==Organization==
===Aeronautics===
*[[Lockheed Martin Aeronautics]]
*[[Lockheed Martin Aircraft & Logistics Centers]]
[[Image:Lockheed F-35 Joint Strike Fighter.jpg|thumb|right|Lockheed Martin/BAE/Northrop Grumman X-35 (F-35 Prototype)]]
[[Image:Trident II missile image.jpg|thumb|Submarine launch of a Lockheed Trident missile]]
===Electronic Systems===
*[[Lockheed Martin Canada]]
*[[Lockheed Martin Maritime Systems & Sensors]]
*[[Lockheed Martin Missiles & Fire Control]]
*[[Lockheed Martin Simulation, Training & Support]]
*[[Lockheed Martin Systems Integration - Owego]]
*[[Lockheed Martin Advanced Technology Laboratories]]
*[[Sandia National Laboratories|Sandia Corporation]]
===Information Systems and Global Services===
*[[Knolls Atomic Power Laboratory]]
*[[Lockheed Martin Enterprise Solutions & Services]]
*[[Lockheed Martin Integrated Systems & Solutions]]
**[[Lockheed Martin Orincon]]
**[[Lockheed Martin STASYS]]
*[[Lockheed Martin Technology Ventures]]
*[[Lockheed Martin Transportation & Security Solutions]]
*[[Lockheed Martin Mission & Combat Support Solutions]]
===Space Systems===
*[[Lockheed Martin Space Systems]]
===Others===
*[[LMC Properties]]
*[[Lockheed Martin Aircraft Argentina SA]] (formerly ''Fabrica Militar de Aviones'')
*[[Lockheed Martin Enterprise Information Systems]]
*[[Lockheed Martin Finance Corporation]]
*[[Lockheed Martin U.K.]]
===Joint ventures===
[[Image:Protector USV.jpg|thumb|The Protector USV.]]
*[[International Launch Services]] (with [[Khrunichev]], [[RSC Energia]])
*[[Lockheed Martin Alenia Tactical Transport Systems]] (with [[Alenia|Finmeccanica-Alenia]], now folded)
*[[MEADS|MEADS International]] (with [[EADS]] and [[MBDA]])
*[[Space Imaging]] (46%, remainder public)
*[[United Launch Alliance]] (with [[Boeing]])
*[[United Space Alliance]] (with [[Boeing]])
*[[Kelly Aviation Center]] (with [[GE]] and [[Rolls-Royce plc|Rolls-Royce]])
*[[Protector USV]] - an unmanned surface vehicle with [[RAFAEL Armament Development Authority]] and [[BAE Systems]]
*[[Defense Support Services]] (DS2) (with [[Day & Zimmermann]]) [http://www.ds2.com/ official site]
==Corporate governance==
Current members of the [[board of directors]] of Lockheed Martin are: [[Edward Aldridge]], Nolan Archibald, Marcus Bennett, [[James O. Ellis]], [[Gwendolyn King]], [[James Loy]], Douglas McCorkindale, Eugene Murphy, [[Joseph Ralston]], Frank Savage, Anne Stevens, [[Robert J. Stevens]], James Ukropina and Douglas Yearley.
==Environmental record==
Lockheed Martin's [[lean manufacturing|lean]] initiatives have helped to clean the environment eroded by chemicals from hazardous waste.<ref>http://www.epa.gov/lean/studies/lockheed.htm</ref>
The company has partnered with the [[United States Environmental Protection Agency|Environmental Protection Agency]] in a pilot project to gain information about better environmental protection practices. This experiment, taking place in [[Palmdale, California]], is intended to provide insight into methods and development of pollution prevention.<ref>http://www.calepa.ca.gov/ems/archives/WorkPlans/Lockheed.htm</ref>
==References==
{{reflist}}
==See also==
* [[Maintenance Trophy|Lockheed Martin Maintenance Trophy]]
==External links==
*[http://www.lockheedmartin.com/ Lockheed Martin website]
*[http://santafenewmexican.com/news/56982.html ''Santa Fe New Mexican'' article "Jury Awards Fired Sandia Analyst $4.3 Million"]
*[http://www.time.com/time/nation/article/0,8599,1589735,00.html ''TIME Magazine'' article "A Security Analyst Wins Big in Court"]
*[http://www.disinfopedia.org/wiki.phtml?title=Lockheed_Martin Article on Lockheed Martin] from the [[Center for Media and Democracy]]
*[http://www.washingtontechnology.com/news/1_1/outsourcing/27650-1.html ''Washington Technology'' article "Lockheed loses Los Alamos outsourcing to U. of Calif"]
*[http://www.washingtonpost.com/wp-dyn/content/article/2006/08/31/AR2006083101067.html ''Washington Post'' article "Lockheed Wins Contract to Build NASA's New Spaceship"]
* {{cite web | title=Patents owned by Lockheed Martin | work=US Patent & Trademark Office | url=http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&u=%2Fnetahtml%2Fsearch-adv.htm&r=0&p=1&f=S&l=50&Query=an%2F%22Lockheed+Martin%22&d=ptxt | accessmonthday=December 5 | accessyear=2005}}
*[http://blogs.abcnews.com/theblotter/2007/02/jury_slaps_defe.html ''ABC News'' report "Jury Slaps Defense Giant for Neglecting National Security"]
*[http://www.space.com/news/lmhinners_mco_991110.html ''Space.com'' article "Lockheed Martin Accepts Blame for Root Cause of Craft's Loss"]
*[http://www.cbsnews.com/stories/2007/04/13/ap/tech/main2683290.shtml ''CBS News'' article "NASA: Mars Surveyor Was Doomed By Humans"]
*[http://news.bbc.co.uk/2/hi/americas/791747.stm ''BBC News'' article "Lockheed Fined Over Secrets Breach"]
*[http://www.washingtonpost.com/wp-dyn/content/article/2007/02/07/AR2007020702334.html ''Washington Post'' article "Coast Guard Failed to Properly Oversee Contracts, Officials Say"]
{{Lockheed Martin}}
{{Aviation lists}}
[[Category:Aerospace companies of the United States]]
[[Category:Companies based in Bethesda, Maryland]]
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Defense companies of the United States]]
[[Category:Lockheed Martin]]
[[Category:Aircraft manufacturers of the United States]]
[[Category:Companies established in 1912]]
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