View source for Lockheed Martin

{{short description|American aerospace, defense, security, and technology company}}
{{about|the company|the transit center in Sunnyvale, California|Lockheed Martin Transit Center}}
{{Use American English|date=July 2019}}
{{Use mdy dates|date=July 2025}}
{{Infobox company
| name = Lockheed Martin Corporation
| logo = Lockheed Martin logo (1).svg
| logo_upright = 1.25
| type = [[Public company|Public]]
| traded_as = {{ubl|{{NYSE|LMT}}|[[S&P 100]] component|[[S&P 500]] component}}
| industry = {{ubl|[[Aerospace manufacturer|Aerospace]]|[[Arms industry|Defense]]}}
| predecessors = {{ubl|[[Lockheed Corporation]]|[[Martin Marietta]]}}
| foundation = {{start date and age|1995|3|15}}
| location = [[Bethesda, Maryland]], United States
| area_served = Worldwide
| key_people = {{Unbulleted list|[[James Taiclet]] ([[Chairperson|chair]], [[President (corporate title)|president]] & [[Chief executive officer|CEO]])|Frank St. John ([[Chief Operating Officer|COO]])|Evan Scott ([[Chief Financial Officer|CFO]])}}
| products = 
| revenue = {{increase}} {{US$|71.04 billion|link=yes}} (2024)
| operating_income = {{decrease}} US$7.013 billion (2024)
| net_income       = {{decrease}} US$5.336 billion (2024)
| assets           = {{nowrap|{{increase}} US$55.62 billion (2024)}}
| equity           = {{decrease}} US$6.333 billion (2024)
| num_employees    = {{ubl|116,000 (2022)<ref name=10K2022>{{cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/936468/000093646823000009/lmt-20221231.htm |title=US SEC: Form 10-K Lockheed Martin Corporation |publisher=[[United States Securities and Exchange Commission]] |date=January 26, 2023}}</ref><ref>{{cite web |date=January 26, 2022 |title=CEO Speaker Series with James Taiclet of Lockheed Martin |url=https://www.cfr.org/event/ceo-speaker-series-james-taiclet-lockheed-martin |accessdate=January 30, 2022 |work=Council on Foreign Relations.}}</ref>|121,000 (2024)}}
| divisions = {{Unbulleted list|[[Lockheed Martin Aeronautics|Aeronautics]]|[[Lockheed Martin Missiles and Fire Control|Missiles and Fire Control]]|[[Lockheed Martin Rotary and Mission Systems|Rotary and Mission Systems]]|[[Lockheed Martin Space|Space]]}}
| website   = {{Official url}}
| footnotes =<ref name=10K>{{cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/936468/000093646825000009/lmt-20241231.htm |title=US SEC: Form 10-K Lockheed Martin Corporation |publisher=[[United States Securities and Exchange Commission]] |date=January 28, 2025}}</ref>
}}
[[File:Lockheed C-130 Hercules.jpg|thumb|The [[C-130 Hercules]] has been in production since the 1950s with the C-130J variant being produced now.]]
[[File:Trident II missile image.jpg|thumb|Submarine launch of a Lockheed [[UGM-133 Trident II]] [[SLBM]]]]
The '''Lockheed Martin Corporation''' is an American [[Arms industry|defense]] and [[aerospace manufacturer]]. It is headquartered in [[North Bethesda, Maryland]], United States. The company was formed by the merger of [[Lockheed Corporation]] with [[Martin Marietta]] on March 15, 1995. 

Lockheed Martin operates 4 divisions: [[Lockheed Martin Aeronautics]] (39% of 2024 revenues), which includes [[Skunk Works]], the [[Lockheed Martin F-35 Lightning II|F-35 Lightning II]] [[strike fighter]], the [[Lockheed C-130 Hercules]] [[military transport aircraft]], the [[F-16 Fighting Falcon]], and the [[Lockheed Martin F-22 Raptor|F-22 Raptor]]; [[Lockheed Martin Missiles and Fire Control]] (18% of 2024 revenues), which includes the [[MIM-104 Patriot]] [[surface-to-air missile]], the [[Terminal High Altitude Area Defense]], the [[M270 Multiple Launch Rocket System]], the [[Precision Strike Missile]], the [[AGM-158 JASSM]] [[air-launched cruise missile]], the [[AGM-158C LRASM]] [[anti-ship missile]], the [[AGM-114 Hellfire]], the Apache [[fire-control system]], the [[Sniper Advanced Targeting Pod]], [[Infrared search and track]], and support services for [[special forces]]; [[Lockheed Martin Rotary and Mission Systems]] (24% of 2024 revenues), which includes [[Sikorsky Aircraft]] such as the [[Sikorsky UH-60 Black Hawk]], [[Sikorsky HH-60 Pave Hawk]], [[Sikorsky VH-92 Patriot]], [[Sikorsky CH-53K King Stallion]], and [[Sikorsky SH-60 Seahawk]], the [[Aegis Combat System]], [[Littoral combat ship]]s, [[Freedom-class littoral combat ship]]s, [[River-class destroyer (2030s)|River-class destroyer]]s, and the C2BMC [[missile defense]] program; and [[Lockheed Martin Space]] (18% of 2024 revenues), which includes the [[UGM-133 Trident II]] [[ballistic missile]], the [[Orion (spacecraft)|Orion]] spacecraft, the [[Next-Generation Overhead Persistent Infrared]], [[GPS Block III]], [[hypersonic weapon]]s and transport layer programs and the [[Ground-Based Interceptor]].<ref name=10K/>

In 2024, 73% of the company's revenue came from the federal government of the United States, including 65% from the [[United States Department of Defense]].<ref name=10K/> In 2024, 26% of revenue was from sales of the F-35 fighter.<ref name=10K/>

Lockheed Martin is also a contractor for the [[U.S. Department of Energy]] and the [[National Aeronautics and Space Administration]] (NASA).<ref>{{Cite web|url=https://www.britannica.com/topic/Lockheed-Martin-Corporation|title=Lockheed Martin Corporation {{!}} American corporation|website=Encyclopedia Britannica|language=en|access-date=March 27, 2020}}</ref> It also provides products and services to the [[United States Department of Defense|Department of Defense]] and the [[United States Department of Energy|Department of Energy]] to the [[United States Department of Agriculture|Department of Agriculture]] and the [[United States Environmental Protection Agency|Environmental Protection Agency]]. It is involved in surveillance and information processing for the [[CIA]], the [[FBI]], the [[Internal Revenue Service]] (IRS), the [[National Security Agency]] (NSA), [[the Pentagon]], the [[United States Census Bureau|Census Bureau]], and the [[United States Postal Service|Postal Service]].<ref name=MoJo>{{Cite news | url=https://www.motherjones.com/politics/2011/01/lockheed-martin-shadowing-you/ | first=William D. | last=Hartung | authorlink=William D. Hartung | title=Is Lockheed Martin Shadowing You? | work=[[Mother Jones (magazine)|Mother Jones]] | date=January 12, 2011}}</ref>

The company has received the [[Collier Trophy]] six times, including in 2001 for being part of developing the [[Lockheed Martin X-35|X-35]]/F-35B [[Rolls-Royce LiftSystem|LiftFan Propulsion System]]<ref name=10K/><ref name="LiftFanPatent2">{{cite web |url=http://www.freepatentsonline.com/5209428.pdf |title=Propulsion system for a vertical and short takeoff and landing aircraft |year=1990 |access-date=January 10, 2010 |archive-date=November 12, 2020 |archive-url=https://web.archive.org/web/20201112210114/https://www.freepatentsonline.com/5209428.pdf |url-status=dead }} United States Patent 5209428 (pdf of original)</ref><ref name="Collier">[http://www.aerofiles.com/collier-trophy.html Collier Trophy; list of winners.] Retrieved January 2010</ref> and  in 2018 for the Automatic Ground Collision Avoidance System (Auto-GCAS). Lockheed Martin currently produces the F-35 and leads the international supply chain, leads the team for the development and implementation of technology solutions for the new [[USAF]] [[Space Fence]] ([[AFSSS]] replacement),<ref name=10K/> and is the primary contractor for the development of the [[Orion (spacecraft)|Orion]] command module.<ref name=10K/> The company also invests in [[healthcare]] systems, [[renewable energy]] systems, [[Smart grid|intelligent energy distribution]], and [[nuclear fusion|compact nuclear fusion]].<ref name=10K/><ref>{{cite web|url=https://www.greentechmedia.com/articles/read/army-navy-and-air-force-on-track-for-3-gw-of-solar-by-2025 |title=Army, Navy and Air Force on Track to Reach 3 GW of Solar by 2025 |date=May 17, 2013 |publisher=Greentech Media}}</ref><ref>Emily W. Prehoda, et al. 2017. [https://www.academia.edu/32808527/U.S._strategic_solar_photovoltaic-powered_microgrid_deployment_for_enhanced_national_security U.S. Strategic Solar Photovoltaic-Powered Microgrid Deployment for Enhanced National Security]. ''Renewable & Sustainable Energy Reviews'' '''78''', 167–175. {{doi|10.1016/j.rser.2017.04.094}}</ref>

== History ==
=== 1990s ===
Merger talks between [[Lockheed Corporation]] and [[Martin Marietta]] began in March 1994, with the companies announcing their $10&nbsp;billion planned merger on August 30, 1994.<ref>{{Cite book |last=Gaughan |first=Patrick A. |title=Mergers, Acquisitions, and Corporate Restructurings |publisher=John Wiley & Sons |year=2011 |isbn=978-0-470-56196-6 |edition=5th |location=Hoboken, NJ |pages=114 |language=en}}</ref><ref>{{Cite news |last=Lynch |first=Jack |date=August 30, 1994 |title=Lockheed and Martin Marietta Set to Merge in $10 Billion Deal |language=en-US |work=The New York Times |url=https://www.nytimes.com/1994/08/30/business/lockheed-and-martin-marietta-set-to-merge-in-10-billion-deal.html |access-date=July 20, 2023 |issn=0362-4331}}</ref> The headquarters for the combined companies would be at Martin Marietta headquarters in [[North Bethesda, Maryland]].<ref>{{cite news |first=Floyd |last=Norris|title=A 'merger of equals,' with Martin Marietta the most equal |work=The New York Times |date=August 31, 1994|url=https://www.nytimes.com/1994/08/31/business/market-place-a-merger-of-equals-with-martin-marietta-the-most-equal.html}}</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=March 16, 1995|url=https://www.nytimes.com/1995/03/16/business/company-news-martin-marietta-lockheed-merger-is-approved.html}}</ref>  The segments of the two companies not retained by the new company formed the basis for [[L-3 Communications]], a mid-size defense contractor in its own right. Lockheed Martin also later spun off the materials company [[Martin Marietta Materials]].{{Citation needed|date=August 2024}}

The company's executives received large bonuses directly from the government as a result of the merger. [[Norman R. Augustine]], who was at the time CEO of Martin Marietta, received an $8.2 million bonus.<ref>{{Cite web|url=https://apnews.com/5d722dfdd62b97a758ab5cc097220138|title=Audit Recommends Slashing Pentagon Incentive Pay for Defense Execs|last=Diamond|first=John|website=AP NEWS|access-date=April 24, 2019}}</ref>

Both companies contributed important products to the new portfolio.{{Citation needed|date=August 2024}} Lockheed products included the [[Trident missile]], [[P-3 Orion]] [[maritime patrol aircraft]], [[Lockheed U-2|U-2]] and [[SR-71 Blackbird]] [[Reconnaissance aircraft|reconnaissance airplanes]], [[F-117 Nighthawk]], [[General Dynamics F-16 Fighting Falcon|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.{{Citation needed|date=August 2024}}

On April 22, 1996, Lockheed Martin completed the acquisition of [[Loral Corporation]]'s defense electronics and system integration businesses for $9.1&nbsp;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|newspaper=The Washington Post |date=April 23, 1996}}</ref>  Lockheed Martin abandoned plans for an $8.3&nbsp;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=July 17, 1998|url=https://www.nytimes.com/1998/07/17/business/lockheed-cancels-northrop-merger-citing-us-stand.html}}</ref>

For the [[Mars Climate Orbiter]], Lockheed Martin incorrectly provided NASA with software using measurements in [[United States customary units|US Customary force units]] when metric units were expected; this resulted in the loss of the Orbiter at a cost of $125&nbsp;million.<ref>{{cite news |url=http://www.cnn.com/TECH/space/9909/30/mars.metric.02/ |title=Metric mishap caused loss of NASA orbiter |work=[[CNN]] |date=September 30, 1999}}</ref><ref>{{cite news|url=http://findarticles.com/p/articles/mi_m1200/is_15_156/ai_57155808/ |archive-url=https://web.archive.org/web/20040904163705/http://www.findarticles.com/p/articles/mi_m1200/is_15_156/ai_57155808 |url-status=dead |archive-date=September 4, 2004 |title=Math error equals loss of Mars orbiter |work=Science News|date=October 9, 1999}}</ref>  The development of the spacecraft cost $193&nbsp;million.<ref>{{cite news |date=August 7, 2012 |title=When Software Catastrophe Strikes |url=https://www.bloomberg.com/news/photo-essays/2012-08-07/when-software-catastrophe-strikes |work=[[Bloomberg News]]}}</ref><ref>{{cite news |date=March 4, 2022 |title=Remembering the time NASA lost a $193 million spacecraft due to a math mixup |url=https://tucson.com/news/science/remembering-the-time-nasa-lost-a-193-million-spacecraft-due-to-a-math-mixup/video_8299ab4a-b9ce-52bd-aaaa-00eec5938fc9.html |newspaper=[[Arizona Daily Star]]}}</ref>

In addition to their military products, in the 1990s Lockheed Martin developed the [[texture mapping]] chip for the [[Sega Model 2]] [[arcade system board]] and the entire graphics system for the [[Sega Model 3]], which were used to power some of the most popular arcade games of the time.<ref>{{cite magazine|title=Peacetime Programmers|magazine=[[Electronic Gaming Monthly]]|issue=97 |publisher=[[Ziff Davis]] |date=August 1997|pages=66–67}}</ref>

=== 2000s ===
[[File:Lockheed Martin headquarters.jpg|thumb|left|Lockheed Martin's prior Center For Leadership Excellence (CLE) Building, which was located near its corporate headquarters]]

In May 2001, Lockheed Martin sold [[BAE Systems Platform Solutions|Lockheed Martin Control Systems]] to [[BAE Systems]].<ref>{{Cite book |last1=Lorell |first1=Mark A. |title=Going Global?: U.S. Government Policy and the Defense Aerospace Industry |last2=Lowell |first2=Julia F. |last3=Moore |first3=Richard M. |last4=Greenfield |first4=Victoria A. |last5=Vlachos |first5=Katia |publisher=Rand Corporation |year=2002 |isbn=0-8330-3193-7 |location=Santa Monica, CA |pages=129 |language=en}}</ref> On November 27, 2000, Lockheed completed the sale of its [[Lockheed Martin Aerospace Electronic Systems|Aerospace Electronic Systems]] business to BAE Systems for $1.67&nbsp;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=November 28, 2000}}</ref><ref>{{cite news |first=Carl|last=Parreault|title=British aerospace firm buys Sanders |work=The Union Leader|date=July 14, 2004}}</ref> In 2001, Lockheed Martin won the contract to build the [[F-35 Lightning II]]; this was the largest fighter aircraft procurement project since the F-16, with an initial order of 3,000 aircraft. In 2001, Lockheed Martin settled a nine–year investigation conducted by NASA's Office of Inspector General with the assistance of the Defense Contract Audit Agency. The company paid the United States government $7.1&nbsp;million based on allegations that its predecessor, Lockheed Engineering Science Corporation, submitted false lease costs claims to NASA.<ref>[http://www.usdoj.gov/tax/usaopress/2003/txdv03030610-lockheed.htm LOCKHEED MARTIN PAYS NASA $7.1 MILLION SETTLEMENT] {{webarchive|url=https://web.archive.org/web/20090531174819/http://www.usdoj.gov/tax/usaopress/2003/txdv03030610-lockheed.htm |date=May 31, 2009}}. U.S. Department of Justice, United States Attorney Press Release, July 10, 2003.</ref>

On July 8, 2003, a Lockheed Martin plant in [[Meridian, Mississippi]] became the scene of a [[Lockheed Martin shooting|racially motivated mass shooting]] when an assembly line worker murdered six co-workers (five of whom were black) and wounded eight before killing himself.<ref>{{cite web | url=https://abcnews.go.com/Primetime/story?id=749286&page=1 | title=Lockheed Workplace Murders Targeted Blacks | website=[[ABC News (United States)|ABC News]] }}</ref> In the immediate aftermath of the shooting, Lockheed Martin's President refused to disclose whether company officials were previously aware of any red flags regarding the worker.<ref>{{Cite news |last=Halbfinger |first=David M. |last2=Hart |first2=Ariel |date=July 9, 2003 |title=Man Kills 5 Co-Workers at Plant and Himself |url=https://www.nytimes.com/2003/07/09/us/man-kills-5-co-workers-at-plant-and-himself.html |archive-url=https://web.archive.org/web/20121109132441/http://www.nytimes.com/2003/07/09/us/man-kills-5-co-workers-at-plant-and-himself.html |archive-date=November 9, 2012 |access-date= |work=The New York Times |language=en-US |issn=}}</ref> The company had launched its own investigation into the worker's behavior prior to the massacre following complaints from numerous black employees regarding incidents involving the worker. He had been ordered to attend anger management courses and diversity training but refused.<ref>{{Cite AV media |url=https://tubitv.com/movies/526926/the_long_shadow |title=The Long Shadow |date=January 15, 2017 |type=DVD |publisher=Passion River Films |place=United States |time=1:03:29 |people=Causey, Frances (Director)}}</ref>

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 – more than three-quarters – would be retiring.<ref>Dutt, Jill. [https://www.washingtonpost.com/wp-dyn/content/article/2006/04/29/AR2006042901732.html "Taking an Engineer's Approach at Lockheed Martin."] Washington Post, May 1, 2006.</ref> On August 31, 2006, Lockheed Martin won a $3.9&nbsp;billion contract from NASA to design and build the CEV capsule, later named [[Orion (Constellation program)|''Orion'']] for the [[Ares I]] rocket in the Constellation Program. In 2009, NASA reduced the capsule crew requirements from the initial six seats to four for transport to the International Space Station.<ref>{{cite web|last=Spires|first=Shelby|title=NASA slashes Orion Crew Exploration Vehicle crew size to four|url=http://blog.al.com/space-news/2009/04/nasa_slashes_orion_crew_explor.html|work=al.com|date=April 28, 2009|publisher=Alabama Media Group|access-date=October 10, 2013}}</ref>

In August 2007, Lockheed Martin acquired 3Dsolve, a [[Cary, North Carolina]], company that created simulations and training modules for the military and corporate clients.<ref>Norton, Frank; LaGrone, Sam (August 21, 2007). "[https://www.newspapers.com/clip/96625027/lockheed-3d-acquisition/ Aircraft Maker Buys 3Dsolv] e". ''The News and Observer''. pp. D1. Retrieved February 28, 2022 – via [[Newspapers.com]].</ref> Renamed Lockheed Martin 3D Learning Systems, the company remained in Cary with 3D's founder Richard Boyd as director.<ref>Norton, Frank; LaGrone, Sam (August 21, 2007). "[https://www.newspapers.com/clip/96625396/ Aircraft Maker Buys 3Dsolve]". ''The News and Observer''. pp. D3. Retrieved February 28, 2022 – via [[Newspapers.com]].</ref> The name was eventually shortened to Lockheed Martin 3D Solutions.<ref>{{Cite web |title=Lockheed Martin 3D Solutions in Cary, NC – (919) 469-9950 |url=https://www.chamberofcommerce.com/united-states/north-carolina/cary/computers-and-equipment-wholesale-and-manufacturers/36862181-lockheed-martin-3d-solutions |access-date=February 28, 2022 |website=www.chamberofcommerce.com}}</ref>

On August 13, 2008, Lockheed Martin acquired the government business unit of Nantero, Inc., a company that had developed methods and processes for incorporating [[carbon nanotubes]] in next-generation electronic devices.<ref>{{cite web |url=https://www.lockheedmartin.com/content/dam/lockheed/data/corporate/documents/2013-Annual-Report.pdf |title=Lockheed Martin Corporation 2013 Annual Report |publisher=lockheedmartin.com |access-date=March 23, 2014 |archive-url=https://web.archive.org/web/20140323194604/http://www.lockheedmartin.com/content/dam/lockheed/data/corporate/documents/2013-Annual-Report.pdf |archive-date=March 23, 2014 |url-status=dead}}</ref><ref name="Lockheed Martin Acquires Nantero">{{cite news |url=http://news.taume.com/World-Business/Business-Finance/Lockheed-Martin-Acquires-Nantero_-Inc__s-Government-Business-Unit-6439 |title=Lockheed Martin Acquires Nantero, Inc.'s Government Business Unit |date=August 14, 2008 |publisher=Taume News |access-date=August 14, 2008 |url-status=dead |archive-url=https://web.archive.org/web/20081202150920/http://news.taume.com/World-Business/Business-Finance/Lockheed-Martin-Acquires-Nantero_-Inc__s-Government-Business-Unit-6439 |archive-date=December 2, 2008}}</ref>  In 2009, Lockheed Martin bought Unitech.<ref>{{cite web|title=UNITECH acquired by Lockheed Martin|url=http://www.upi.com/Business_News/Security-Industry/2008/12/29/UNITECH-acquired-by-Lockheed-Martin/UPI-27441230565547/|work=UPI.com|publisher=United Press International, Inc.|access-date=October 11, 2013}}</ref>

=== 2010s ===
On November 18, 2010, Lockheed Martin announced that it would be closing its [[Eagan, Minnesota]], location by 2013 to reduce costs and optimize capacity at its locations nationwide.<ref>Hult, Karla. [https://archive.today/20130127012534/http://www.kare11.com/news/news_article.aspx?storyid=883055&catid=14 "Lockheed Martin to Close Eagan Plant, Shed 1,000 Jobs."] Kare 11 News, November 19, 2010.</ref> In January 2011, Lockheed Martin agreed to pay the U.S. Government $2&nbsp;million to settle allegations that the company submitted [[False Claims Act|false claims]] on a U.S. government contract for that amount. The allegations came from a contract with the Naval Oceanographic Office Major Shared Resource Center in Mississippi.<ref>{{Cite news |date=January 25, 2011 |title=Lockheed to pay $2&nbsp;million to settle lawsuit |language=en-US |newspaper=[[The Washington Post]] |agency=[[Bloomberg News]] |url=https://www.washingtonpost.com/business/lockheed-to-pay-2-million-to-settle-lawsuit/2011/01/24/ABG1CTJ_story.html |access-date=January 24, 2023 |issn=0190-8286}}</ref>

On May 25, 2011, Lockheed Martin bought the first Quantum Computing System from [[D-Wave Systems]]. Lockheed Martin and D-Wave will collaborate to realize the benefits of a computing platform based upon a [[quantum computing|quantum annealing processor]], as applied to some of Lockheed Martin's most challenging computation problems. Lockheed Martin established a multi-year contract that includes one system, maintenance, and services.<ref>{{cite web|url=http://www.dwavesys.com/en/pressreleases.html|title=Press Releases – D-Wave Systems|access-date=December 14, 2013|archive-date=December 22, 2020|archive-url=https://web.archive.org/web/20201222041457/https://www.dwavesys.com/en/pressreleases.html|url-status=dead}}</ref>

On May 28, 2011, it was reported that a [[cyberattack]] using [[SecurID#March 2011 system compromise|previously stolen EMC files]] had broken through to sensitive materials at the contractor.<ref>{{cite news |url=https://www.foxnews.com/politics/lockheed-martin-hit-by-unspecified-cyber-incident |work=Fox News |title=Lockheed Martin Hit by Unspecified Cyber Incident |date=May 28, 2011}}</ref>  It is unclear if the Lockheed incident is the specific prompt whereby on June 1, 2011, the new United States military strategy, makes explicit that a cyberattack is ''[[casus belli]]'' for a traditional act of war.<ref>{{cite web|url=https://www.nytimes.com/2011/06/01/us/politics/01cyber.html|title=Pentagon to Consider Cyberattacks Acts of War|date=June 1, 2011|work=The New York Times}}</ref>

On March 3, 2012, the [[U.S. Department of Justice]] (DOJ) said that Lockheed Martin had agreed to settle allegations that the defense contractor had sold overpriced perishable tools used on many contracts. The DOJ said the allegations were based specifically on the subsidiary Tools & Metals Inc's inflation of costs between 1998 and 2005, which Lockheed Martin then passed on to the U.S. government under its contracts. Further, in March 2006, Todd B. Loftis, a former TMI president, was sentenced to 87 months in prison and ordered to pay a fine of $20 million following his guilty plea.<ref>{{cite news |last=Seper |first=Jerry |title= Lockheed Martin to pay back government for subcontractor scheme |url=http://www.washingtontimes.com/news/2012/mar/23/lockheed-martin-repay-government-15m-pricing-scam/ |date=March 23, 2012 |newspaper=Washington Times |access-date=July 4, 2015}}</ref>

On July 10, 2012, Lockheed Martin announced it was cutting its workforce by 740 workers to reduce costs and remain competitive as necessary for future growth.<ref name="cuts 740 jobs">{{cite news |url=http://www.indianexpress.com/news/lockheed-martin-cuts-740-jobs/973037/ |title= Lockheed Martin cuts 740 jobs |date= July 11, 2012|work=The Indian Express |access-date=July 11, 2012}}</ref> On November 27, 2012, Lockheed Martin announced that [[Marillyn Hewson]] would become the corporation's chief executive officer on January 1, 2013.<ref>{{cite news |url= https://www.chicagotribune.com/2012/11/27/lockheed-martin-raises-compensation-of-ceo-elect-hewson/ |title= Lockheed Martin raises compensation of CEO-elect Hewson |work=Chicago Tribune |date=November 27, 2012}}</ref>

On January 7, 2013, Lockheed Martin Canada announced that it would be acquiring the engine maintenance, repair, and overhaul assets from [[Aveos Fleet Performance]] in [[Montreal]], [[Quebec]], Canada. On February 20, 2013, Lockheed Martin Corp complied with the [[United States District Court for the Southern District of New York]], agreeing to pay a $19.5 million lawsuit to conclude a [[securities fraud]] [[class-action]] legal battle that had accused the company of deceiving shareholders in regards to expectations for the company's information technology division.<ref>{{cite news |last=Raymond |first=Nate |title=Lockheed to settle securities fraud suit for $19.5 million |url=https://www.reuters.com/article/us-lockheed-settlement-idUSBRE91J0ZH20130220 |date=February 20, 2013 |newspaper=Reuters |access-date=July 4, 2015 |archive-date=September 24, 2015 |archive-url=https://web.archive.org/web/20150924175605/http://www.reuters.com/article/2013/02/20/us-lockheed-settlement-idUSBRE91J0ZH20130220 |url-status=live}}</ref> On July 3, 2013, Lockheed Martin announced that it was partnering with [[DreamHammer]] to use the company's software for integrated command and control of its unmanned aerial vehicles.<ref>{{cite web|title=Dreamhammer Hammers Out Deal With Lockheed Martin|url=http://www.socaltech.com/dreamhammer_hammers_out_deal_with_lockheed_martin/s-0050162.html|work=socalTECH.com|publisher=SOCALTECH LLC|access-date=October 2, 2013}}</ref> Lockheed Martin teamed up with [[Bell Helicopter]] to propose the [[V-280 Valor]] [[tiltrotor]] for the [[Future Vertical Lift]] (FVL) program.<ref>"[http://www.airframer.com/news_story.html?release=23063 Bell Helicopter and Lockheed Martin team on V-280 Valor]" ''AirFramer'', September 9, 2013. Accessed: September 9, 2013.</ref> In September 2013, Lockheed Martin acquired the [[Scotland]]-based tech firm, [[Amor Group]], saying the deal would aid its plans to expand internationally and into non-defense markets.<ref>{{cite news |url=https://www.reuters.com/article/us-lockheed-acquisition-amor-idUSBRE98A17I20130911 |title=Lockheed acquires Amor group as part of global expansion plan |author=Andrea Shalal-Esa |work=Reuters |date=September 11, 2013 |access-date=July 1, 2017 |archive-date=September 24, 2015 |archive-url=https://web.archive.org/web/20150924184606/http://www.reuters.com/article/2013/09/11/us-lockheed-acquisition-amor-idUSBRE98A17I20130911 |url-status=live}}</ref> On November 14, 2013, Lockheed announced they would be closing their [[Akron, Ohio]] facility laying off 500 employees and transferring other employees to other locations.<ref>{{cite news |url=http://www.newsnet5.com/dpp/news/local_news/akron_canton_news/lockheed-martin-laying-off-hundreds-closing-akron-facility |title=Lockheed Martin laying off hundreds, closing Akron facility |author=Chris Horne |publisher=Scripps Media, Inc. |date=November 14, 2013 |access-date=November 14, 2013 |archive-url=https://web.archive.org/web/20131123010002/http://www.newsnet5.com/dpp/news/local_news/akron_canton_news/lockheed-martin-laying-off-hundreds-closing-akron-facility |archive-date=November 23, 2013 |url-status=dead}}</ref>

In October 2013, Lockheed announced it expected to finalize a $2.2 billion contract with the [[United States Air Force]] for two advanced military communications satellites.<ref>{{cite news | url=https://www.reuters.com/article/us-lockheed-satellites-idUSBRE99818L20131009 | title=Lockheed, U.S. Air Force near $2.2 billion satellites deal | author=Andrea Shalal-Esa | work=Reuters| date=October 9, 2013| archive-date=October 5, 2015 | archive-url=https://web.archive.org/web/20151005143651/http://www.reuters.com/article/2013/10/09/us-lockheed-satellites-idUSBRE99818L20131009 | url-status=live}}</ref>

[[File:F-35A flight (cropped).jpg|thumb|right|Lockheed Martin's F-35 Lightning II]]
In March 2014, Lockheed Martin acquired Beontra AG, a provider of integrated planning and demand forecasting tools for airport, planning to expand their business in commercial airport information technology solutions.<ref>{{cite news |url=http://www.prnewswire.com/news-releases/lockheed-martin-acquires-beontra-ag-250741761.html|title=Lockheed Martin Acquires BEONTRA AG|publisher=PR Newswire|date=March 18, 2014}}</ref> Also, in March 2014, Lockheed Martin announced its acquisition of Industrial Defender Inc.<ref>{{cite web |url=http://id.lockheedmartin.com/lockheed-martin-to-acquire-industrial-defender |title=Lockheed Martin To Acquire Industrial Defender |date=March 12, 2014 |publisher=Lockheed Martin |access-date=December 11, 2015 |archive-url=https://web.archive.org/web/20151222123839/http://id.lockheedmartin.com/lockheed-martin-to-acquire-industrial-defender |archive-date=December 22, 2015 |url-status=dead}}</ref> On June 2, 2014, Lockheed Martin received a Pentagon contract to build a space fence that would track debris, keeping it from damaging satellites and spacecraft.<ref>{{cite web |last1=Sherman |first1=Erik |title=Lockheed wins $915 million "space fence" contract |url=https://www.cbsnews.com/news/lockheed-wins-915-million-space-fence-contract/ |website=CBS News|date=June 3, 2014 |access-date=June 6, 2014}}</ref>

On December 20, 2014, Lockheed Martin Integrated Systems agreed to settle a [[False Claims Act]] lawsuit paying $27.5 million to finalize allegations that it had knowingly overbilled taxpayers for work performed by company staff who did not hold the relevant essential qualifications for the contract.<ref>{{cite web |url=http://www.budget.senate.gov/democratic/public/_cache/files/33ece616-4aaf-4eb5-b99b-44b9f993a096/ash-carter-letter-from-senator-sanders-3.4.2015.pdf |title=US Senate Recent Examples of Contractor Fraud and Misconduct |url-status=dead |archive-url=https://web.archive.org/web/20150521121826/http://www.budget.senate.gov/democratic/public/_cache/files/33ece616-4aaf-4eb5-b99b-44b9f993a096/ash-carter-letter-from-senator-sanders-3.4.2015.pdf |archive-date=May 21, 2015}}</ref>

On July 20, 2015, Lockheed Martin announced plans to purchase [[Sikorsky Aircraft]] from [[United Technologies Corporation]] at a cost of $7.1 billion.<ref>{{cite web|url=https://www.forbes.com/sites/lorenthompson/2015/07/20/lockheed-martin-announces-sikorsky-purchase-and-strategic-review-of-services-portfolio/|title=Lockheed Martin Announces Sikorsky Purchase And Strategic Review Of Services Portfolio|first=Loren|last=Thompson|website=[[Forbes]]}}</ref><ref>{{cite web|url=http://www.flightglobal.com/news/articles/lockheed-martin-takes-the-plunge-with-9bn-sikorsky-414811/|title=Lockheed Martin takes the plunge with $9bn Sikorsky deal|date=July 20, 2015}}</ref> [[The Pentagon]] has criticized the acquisition as causing a reduction in competition.<ref>{{cite web |url=http://www.aviationtoday.com/rw/topstories/Pentagon-Criticizes-Sikorsky-Acquisition_86178.htm |title=Rotor & Wing |work=aviationtoday.com |access-date=October 4, 2015 |url-status=dead |archive-url=https://web.archive.org/web/20160206131252/http://www.aviationtoday.com/rw/topstories/Pentagon-Criticizes-Sikorsky-Acquisition_86178.htm |archive-date=February 6, 2016}}</ref> In November 2015, the acquisition received final approval from the Chinese government,<ref>{{cite web|url=http://www.verticalmag.com/news/article/LockheedMartinreceivesfinalregulatoryapprovalneededtocloseSi|title=Lockheed Martin receives final regulatory approval needed to close Sikorsky acquisition – Vertical Magazine}}</ref> with a total cost of $9 billion.<ref>{{cite web|title=Lockheed finalizes $9B purchase of helicopter maker Sikorsky |url=http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11541519|website=[[The New Zealand Herald]] |access-date=November 7, 2015}}</ref> Dan Schulz was named the president of Lockheed Martin's Sikorsky company.<ref>{{cite web |url=http://lockheedmartin.com/us/news/press-releases/2015/november/151106-lockheed-martin-acquires-sikorsky.html |title=Lockheed Martin Completes Acquisition of Sikorsky Aircraft |work=lockheedmartin.com |access-date=November 19, 2015}}</ref> Lockheed Martin has shown{{when|date=August 2015}} sketches for a twin-engine, [[blended wing body]] strategic airlifter similar in size to the C-5.<ref>Warwick, Graham. "[http://aviationweek.com/HWB#slide-0-field_images-1348431 Lockheed Martin’s Hybrid Wing-Body Future Airlifter]"</ref> On March 31, 2015, the US Navy awarded Lockheed Martin a contract worth $362 million for the construction of [[Freedom-class littoral combat ship|Freedom-class]] ship LCS 21 and $79 million for advance procurement for LCS 23. The Freedom-class ships are built by Fincantieri Marinette Marine in [[Marinette, Wisconsin]].<ref>{{cite web |title=Flurry of Contracts Spark US Navy Shipbuilding|date=April 3, 2015|url=http://www.defensenews.com/story/defense/2015/04/03/navy-shipbuilding-contracts/25249469/|access-date=August 9, 2016}}</ref> In December 2015, Lockheed won an $867 million seven-year contract to train [[Australia]]'s next generation of [[military pilot]]s. The deal also has the option to extend this contract across 26 years, which would greatly increase the deal's value.<ref>{{cite web|title= Lockheed Martin wins $867 million deal for Australian pilot training |url= https://www.reuters.com/article/us-lockheed-australia-idUSKBN0TS04L20151209#3YfI7Ly01ZixqqJ7.97 |website=Reuters|date=December 11, 2015}}</ref>

In August 2016, Canadian Forces Maritime tested an integrated submarine combat system developed by Lockheed Martin. The test marked Canada's first use of the combat system with the MK 48 heavyweight torpedo, variant 7AT.<ref>{{cite web|title=The latest update on defence contracts awarded|url=https://ottawacitizen.com/news/national/defence-watch/the-latest-update-on-defence-contracts-awarded|access-date=August 11, 2016|date=August 11, 2016}}</ref> The same month, a deal to merge [[Leidos]] with the entirety of Lockheed Martin's Information Systems & Global Solutions (IS&GS) business came to a close.<ref name=Forbes>{{cite web|title=Leidos Deal Closes, Spawning Vast Solutions Enterprise|website=[[Forbes]]|url=https://www.forbes.com/sites/lorenthompson/2016/08/17/leidos-deal-closes-spawning-vast-solutions-enterprise/#cb8f2bc5a063|access-date=August 23, 2016}}</ref><ref name="fortune.com">{{Cite web|url=https://fortune.com/fortune500/2019/leidos-holdings|title=Leidos Holdings|website=Fortune|access-date=September 18, 2022|archive-date=August 31, 2019|archive-url=https://web.archive.org/web/20190831061517/https://fortune.com/fortune500/2019/leidos-holdings/|url-status=dead}}</ref>

In May 2017, during a visit to Saudi Arabia by President Donald Trump, [[Saudi Arabia]] signed business deals worth tens of billions of dollars with U.S. companies, including Lockheed Martin.<ref>"[https://www.bloomberg.com/news/articles/2017-05-22/guide-to-400-billion-in-saudi-u-s-deals-black-hawks-to-oil Guide to $400 Billion in Saudi-U.S. Deals: Black Hawks to Oil]". Bloomberg. May 22, 2017.</ref> (See: [[2017 United States–Saudi Arabia arms deal]])

On August 13, 2018, Lockheed Martin announced that the company had secured a $480 million contract from the [[United States Air Force]] to develop a [[hypersonic]] weapon prototype. A [[hypersonic]] missile can travel at one mile a second. This is the second contract for hypersonic weapons that Martin has secured; The first was from the Air Force as well and for $928 million which was announced in April 2018.<ref>{{Cite web|url=https://www.cnbc.com/2018/08/14/lockheed-martin-gets-480-million-hypersonics-contract-from-pentagon.html|title=Lockheed Martin gets a second hypersonic weapons contract, this time for $480 million, as the US tries to keep pace with Russia and China|first=Amanda|last=Macias|date=August 14, 2018|website=CNBC}}</ref><ref>{{Cite web|url=https://www.cnbc.com/2018/04/18/lockheed-martin-just-got-one-step-closer-to-handing-hypersonic-weapons-to-the-us-air-force.html|title=Lockheed Martin just got one step closer to handing hypersonic weapons to the US Air Force|first=Amanda|last=Macias|date=April 18, 2018|website=CNBC}}</ref>

On November 29, 2018, Lockheed Martin was awarded a [[Commercial Lunar Payload Services]] contract by [[NASA]], which makes it eligible to bid on delivering science and technology payloads to the Moon for NASA, worth $2.6 billion.<ref name="CLPS_win">{{cite web |title=NASA Announces New Partnerships for Commercial Lunar Payload Delivery Services |url=https://www.nasa.gov/press-release/nasa-announces-new-partnerships-for-commercial-lunar-payload-delivery-services |publisher=NASA |access-date=November 29, 2018|date=November 29, 2018}}</ref> Lockheed Martin plans to formally propose a lander called ''[[McCandless Lunar Lander]]'', named after the late astronaut and former Lockheed Martin employee Bruce McCandless II, who in 1984 performed the first free-flying spacewalk without a lifeline to the orbiting shuttle, using a jetpack built by the company.<ref>[https://www.denverpost.com/2018/11/30/next-moon-lander-colorado/]. Marcia Dunn, The Associated Press; Published by ''The Denver post''. November 30, 2018.</ref> This lander would be based on the successful design of the [[Phoenix (spacecraft)|''Phoenix'']] and ''[[InSight]]'' Mars landers.<ref>[https://finance.yahoo.com/news/lockheed-martin-selected-nasas-commercial-192300235.html Lockheed Martin Selected for NASA's Commercial Lunar Lander Payload Services Contract] {{Webarchive|url=https://web.archive.org/web/20181215222708/https://finance.yahoo.com/news/lockheed-martin-selected-nasas-commercial-192300235.html |date=December 15, 2018}}. ''Yahoo Finance''. November 29, 2018.</ref>

On April 11, 2019, at 6:35 pm EDT, an [[Arabsat-6A]] satellite was successfully launched from [[Kennedy Space Center Launch Complex 39|(LC-39A)]]. This satellite is one of two, the other being [[SaudiGeoSat-1/HellasSat-4]] and they are the "most advanced commercial communications satellites ever built by" Lockheed Martin.<ref>{{cite web|url=https://www.firstpost.com/tech/science/spacex-delays-falcon-heavys-first-commercial-launch-of-arabsat-6a-to-10-april-6414011.html|date=April 9, 2019|title=SpaceX Delays Falcon Heavy's First Commercial Launch of ArabSat-6A to 10 April|work=[[The First Post]]|access-date=April 28, 2019}}</ref>

On September 23, 2019, Lockheed Martin and NASA signed a $4.6-billion contract to build six or more [[Orion (spacecraft)|Orion]] capsules for NASA's Artemis program to send astronauts to the Moon.<ref>{{Cite web |url=https://spaceflightnow.com/2019/09/23/nasa-taps-lockheed-martin-to-build-six-more-orion-crew-capsules/ |title=NASA taps Lockheed Martin to build six more Orion crew capsules – Spaceflight Now |access-date=April 5, 2020}}</ref>

=== 2020s ===
In January 2020, the [[Naval Sea Systems Command]] awarded Lockheed Martin with a $138 million contract related with the AEGIS Combat System Engineering Agent (CSEA). The LMT Rotary and Mission Systems (RMS) unit of the company is to develop, integrate, test, and deliver the AEGIS Advanced Capability Build (ACB) 20 integrated combat system. Martin will work on the AEGIS in New Jersey. The project is expected to be completed by December 2020.<ref>{{Cite web|url=https://finance.yahoo.com/news/lockheed-martin-wins-138m-navy-144702004.html|title=Lockheed Martin Wins $138M Navy Deal to Support AEGIS CSEA|website=finance.yahoo.com|date=January 3, 2020 }}</ref>

In January 2020, the Pentagon found at least 800 software defects in Lockheed Martin's F-35 fighter jets owned by the US Armed Forces during an annual review. The 2018 and 2019 reviews revealed a large number of defects as well.<ref>{{Cite web|url=https://www.newsy.com/stories/pentagon-finds-over-800-defects-in-lockheed-fighter-jets/|title=Pentagon Finds Over 800 Defects In Lockheed Fighter Jets|first=Terace|last=Garnier|website=Newsy|date=January 31, 2020|access-date=February 5, 2020|archive-date=October 25, 2020|archive-url=https://web.archive.org/web/20201025215207/https://www.newsy.com/stories/pentagon-finds-over-800-defects-in-lockheed-fighter-jets/|url-status=dead}}</ref>

In February 2020, Lockheed Martin acquired [[Vector Launch Inc]]'s satellite software technology GalacticSky for $4.25 million after a bankruptcy court received no bids by the February 21 deadline.<ref>{{Cite web |url=https://spacenews.com/lockheed-to-obtain-vector-satellite-assets/|title=Lockheed to obtain Vector satellite assets |date=February 24, 2020 |website=[[SpaceNews]] |language=en-US |access-date=February 25, 2020}}</ref><ref>{{Cite web|url=https://news.bloomberglaw.com/bankruptcy-law/lockheed-martin-buys-assets-from-bankrupt-startup-vector-launch|title=Lockheed Martin Buys Assets from Bankrupt Startup Vector Launch|website=[[Bloomberg Law]]}}</ref>

[[File:P20220503AS-1222 (52144401420).jpg|thumb|President [[Joe Biden]] at the Lockheed Martin Facility in [[Troy, Alabama]], May 3, 2022]]
On March 16, 2020, Lockheed Martin announced that [[James D. Taiclet]] would replace [[Marillyn Hewson]] as CEO, effective June 15.<ref>{{Cite press release |last=Martin |first=Lockheed |title=Lockheed Martin Elects James D. Taiclet as President and CEO |url=https://www.prnewswire.com/news-releases/lockheed-martin-elects-james-d-taiclet-as-president-and-ceo-301024734.html |access-date=August 11, 2024 |website=www.prnewswire.com |language=en}}</ref> In January 2021, Taiclet became chairman of the company as well.<ref>{{Cite web |url=https://www.bizjournals.com/washington/news/2021/01/29/taiclet-hewson-lockheed-martin.html |title=Taiclet adding chairman to his title at Lockheed Martin |date=January 29, 2021}}</ref>

Lockheed Martin was [[Chinese sanctions|sanctioned]] by the Chinese government in July 2020,<ref>{{Cite web |date=July 14, 2020 |title=2020年7月14日外交部发言人赵立坚主持例行记者会 |trans-title=Foreign Ministry Spokesperson Zhao Lijian's Regular Press Conference on July 14, 2020 |url=https://www.fmprc.gov.cn/web/fyrbt_673021/jzhsl_673025/t1797678.shtml |archive-url=https://web.archive.org/web/20210110200741/https://www.fmprc.gov.cn/web/fyrbt_673021/jzhsl_673025/t1797678.shtml |archive-date=January 10, 2021 |access-date=August 29, 2021 |website=[[Ministry of Foreign Affairs (China)|Ministry of Foreign Affairs]] |publisher=}}</ref> October 2020,<ref name="2020-10-26">{{Cite web |date=October 26, 2020 |title=2020年10月27日外交部发言人汪文斌主持例行记者会 |trans-title=Foreign Ministry Spokesperson Wang Wenbin's Regular Press Conference on October 27, 2020 |url=https://www.fmprc.gov.cn/web/wjdt_674879/fyrbt_674889/202010/t20201026_7816766.shtml |archive-url=https://web.archive.org/web/20220816095037/https://www.fmprc.gov.cn/web/wjdt_674879/fyrbt_674889/202010/t20201026_7816766.shtml |archive-date=August 16, 2022 |access-date=August 16, 2022 |website=[[Ministry of Foreign Affairs (China)|Ministry of Foreign Affairs]]}}</ref> and February 2023 due to arm sales to Taiwan.<ref name="新华网">{{Cite web |date=April 18, 2023 |title=商务部回应不可靠实体清单实施有关问题 |trans-title=The Ministry of Commerce responded to questions about the implementation of the Unreliable Entity List |url=http://www.news.cn/2023-04/18/c_1129536032.htm |archive-url=https://web.archive.org/web/20230531084159/http://www.news.cn/2023-04/18/c_1129536032.htm |archive-date=May 31, 2023 |access-date=May 30, 2023 |website=[[Xinhua News Agency]]}}</ref>

On December 20, 2020, it was announced that Lockheed Martin would acquire [[Aerojet Rocketdyne Holdings]] for $4.4 billion.<ref>{{Cite news|url=https://www.bizjournals.com/washington/news/2020/12/20/lockheed-acquires-rocket-leader-aerojet-rocketdyne.html |title=Lockheed makes a solid rocket motor splash, buying Aerojet Rocketdyne for $4.4B |access-date=December 21, 2020}}</ref> The acquisition was expected to close in first quarter of 2022.<ref>{{cite news|title=Lockheed predicts Aerojet acquisition will close next quarter|url=https://news.yahoo.com/lockheed-predicts-aerojet-acquisition-close-162701482.html|agency=[[Defense News]]|via=[[Yahoo! News]]|date=October 26, 2021|access-date=December 22, 2021}}</ref> On February 13, 2022, Lockheed abandoned the deal following regulatory disapproval.<ref>{{Cite web|title=Lockheed Scraps Aerojet Deal After FTC Takes Tough Merger Stance|url=https://www.msn.com/en-us/money/companies/lockheed-scraps-aerojet-deal-after-ftc-takes-tough-merger-stance/ar-AATOdpa|first=Julie |last=Johnsson |date=February 13, 2022|website=MSN|language=en-US}}</ref><ref>{{Cite web|first1=Anirudh|last1=Saligrama|first2=Diane|last2=Bartz|title=Lockheed scraps $4.4 billion deal to buy Aerojet amid regulatory roadblocks|url=https://www.reuters.com/business/aerospace-defense/lockheed-martin-terminates-44-bln-deal-acquire-aerojet-rocketdyne-2022-02-13/|date=February 13, 2022|work=[[Reuters]]|language=en-us}}</ref>

In 2022, during the [[Russian invasion of Ukraine]], major arms manufacturers, including Lockheed Martin,<ref>{{cite news |last1=McIntyre |first1=Douglas |title=Lockheed Martin Profits More From War Than Any Other Company on Earth |url=https://247wallst.com/special-report/2023/03/02/lockheed-martin-profits-more-from-war-than-any-other-company-on-earth/ |work=24/7 Wall St. |date=March 2, 2023}}</ref> reported a sharp increase in interim sales and profits.<ref>{{cite news |last=Bedi |first=Rahul |title=Russia's Invasion of Ukraine Bodes Good Business for Arms Manufacturers Worldwide |url=https://thewire.in/business/russia-ukraine-invasion-business-arms-manufacturers |work=The Wire |date=February 28, 2022 |archive-date=March 2, 2022 |archive-url=https://web.archive.org/web/20220302060817/https://thewire.in/business/russia-ukraine-invasion-business-arms-manufacturers |url-status=live}}</ref><ref>{{cite news |title=Ukraine war: How weapons makers are profiting from the conflict|author-first1=Alexa|author-last1=Phillips|url=https://news.sky.com/story/ukraine-war-how-weapons-makers-are-profiting-from-the-conflict-12624574 |work=Sky News |date=June 10, 2022}}</ref><ref>{{cite news |title=As the war rages on and military spending booms, the US arms industry is a big winner in Ukraine |url=https://www.abc.net.au/news/2023-01-21/us-arms-industry-military-spending-profits-ukraine-war-russia/101843752 |work=ABC News |date=January 20, 2023}}</ref>

In May 2023, Lockheed formed a new microelectronics subsidiary ForwardEdge ASIC to design custom [[application-specific integrated circuit]]s for its customers.<ref>{{Cite news |last=Kumar |first=Kavita |date=May 23, 2023 |title=Lockheed Martin design center coming to St. Paul, bringing more than 100 jobs |url=https://www.startribune.com/lockheed-martin-design-center-coming-to-st-paul-bringing-more-than-100-jobs/600277215/ |work=[[Star Tribune]] |archive-url=https://web.archive.org/web/20230606091757/https://www.startribune.com/lockheed-martin-design-center-coming-to-st-paul-bringing-more-than-100-jobs/600277215/ |archive-date=June 6, 2023 |url-status=live}}</ref><ref>{{Cite web |last=Fedor |first=Liz |date=May 24, 2023 |title=Lockheed Martin Chooses St. Paul for a Business Expansion |url=https://tcbmag.com/lockheed-martin-chooses-st-paul-for-a-business-expansion/ |publisher=Twin Cities Business}}</ref>

[[File:Arms Embargo Now, Protest at Lockheed Martin, Havant 13.jpg|thumb|[[Gaza war protests in the United Kingdom|Pro-Palestinian protest]] calling for an arms embargo on Israel at Lockheed Martin UK in [[Havant]], England, June 17, 2025]]
In November 2023, attempts at [[Direct action]] were taken against arms companies in the US and the UK, including Lockheed Martin,<ref>{{cite news |title=Lockheed Martin: Palestine protesters install blockade |url=https://www.bbc.com/news/uk-england-beds-bucks-herts-67519517 |work=[[BBC News]] |date=November 25, 2023}}</ref><ref>{{cite news |title=Anti-war protesters block access to Lockheed Martin subsidiary in St. Paul |url=https://www.mprnews.org/story/2023/11/20/antiwar-protesters-block-access-to-lockheed-martin-subsidiary-in-st-paul |work=MPR News |date=November 10, 2023}}</ref> that supplied weapons to [[Israel]] during the [[Gaza war]].<ref>{{cite news |title=Protesters Are Targeting Defense Contractors That Bragged About Profits from Gaza |url=https://www.vice.com/en/article/protesters-are-targeting-defense-contractors-that-bragged-about-profits-from-gaza/ |work=Vice |date=November 17, 2023}}</ref>

In March 2024, Lockheed Martin submitted a bid to acquire Terran Orbital.<ref>{{Cite web |last=Sheetz |first=Michael |date=March 1, 2024 |title=Lockheed Martin looks to acquire spacecraft maker Terran Orbital for nearly $600 million |url=https://www.cnbc.com/2024/03/01/lockheed-martin-looks-to-acquire-terran-orbital-for-about-600-million.html |access-date=March 4, 2024 |website=CNBC |language=en}}</ref>

On June 28, 2024, the U.S. Army awarded Lockheed Martin a $4.5 billion contract to supply Patriot Advanced Capability-3 (PAC-3) missiles. The contract included 870 PAC-3 MSE missiles and related hardware. Lockheed was tasked with manufacturing the newest version of these interceptors, with each PAC-3 MSE missile costing approximately $4 million, as per Army budget documents.<ref>{{cite news|title=US army awards Lockheed Martin $4.5 billion multi-year Patriot Missiles contract |date=June 28, 2024 |url=https://www.reuters.com/business/aerospace-defense/us-army-awards-lockheed-martin-45-bln-contract-2024-06-28/ |access-date=July 1, 2024}}</ref>

On October 9, 2024, Lockheed Martin announced the appointment of Chauncey McIntosh as vice president and general manager of the F-35 Lightning II Program, effective December 1, 2024. He succeeded Bridget Lauderdale, who retired after 38 years with the company.<ref>{{cite news|last=Stone |first=Mike |title=Lockheed names new F-35 fighter jet program leader |date=October 9, 2024 |url=https://www.reuters.com/business/aerospace-defense/lockheed-names-new-f-35-fighter-jet-program-leader-2024-10-09/ |website=Reuters |access-date=October 13, 2024}}</ref>

In December 2024, Lockheed Martin announced that it had formed a subsidiary, Astris AI, that would help U.S. defense companies to incorporate artificial intelligence into their operations.<ref>{{Cite news |date=December 16, 2024 |title=Lockheed forms subsidiary to help defense companies adopt AI |url=https://reuters.com/technology/artificial-intelligence/lockheed-forms-subsidiary-help-defense-companies-adopt-ai-2024-12-16/}}</ref>

== Finances ==
{| class="wikitable floatright"
|+Sales by business (2023)<ref name=":1">{{Cite web |title=Lockheed Martin Corporation: Shareholders Board Members Managers and Company Profile {{!}} US5398301094 {{!}} MarketScreener |url=https://www.marketscreener.com/quote/stock/LOCKHEED-MARTIN-CORPORATI-13406/company/ |access-date=March 24, 2024 |website=www.marketscreener.com |language=en}}</ref>
!Business
!share
|-
|Aeronautics
|40.7%
|-
|Rotary and Mission Systems
|24.0%
|-
|Space
|18.7%
|-
|Missiles and Fire Control
|16.7%
|}
For the fiscal year 2020, Lockheed Martin reported earnings of $6.833 billion, with an annual revenue of $65.398 billion, an increase of 9.3% over the previous year.<ref>{{Cite web |last=III |first=Woodrow Bellamy |date=January 26, 2022 |title=Lockheed Martin Finishes 2021 With Strong Fourth Quarter |url=https://www.aviationtoday.com/2022/01/26/lockheed-martin-finishes-2021-strong-fourth-quarter/ |access-date=February 3, 2025 |website=Avionics International |language=en}}</ref> Backlog was 144.0 billion at the end of 2019, up from 130.5 billion at the end of the 2018.  Firm orders were $94.5 billion at the end of 2019.<ref name="auto">{{Cite web|url=https://investors.lockheedmartin.com/sec-filings/sec-filing/10-k/0000936468-20-000016|title=0000936468-20-000016 &#124; 10-K|website=Lockheed Martin Corp|access-date=February 8, 2020|archive-date=June 17, 2020|archive-url=https://web.archive.org/web/20200617104639/https://investors.lockheedmartin.com/sec-filings/sec-filing/10-k/0000936468-20-000016|url-status=dead}}</ref> Its shares traded at over $389 per share.<ref name=":0">{{Cite web |title=Historical Price Lookup |url=https://investors.lockheedmartin.com/stock-information/historical-price-lookup |url-status=dead |archive-url=https://web.archive.org/web/20201124181909/https://investors.lockheedmartin.com/stock-information/historical-price-lookup |archive-date=November 24, 2020 |access-date=February 8, 2020 |website=Lockheed Martin Corp}}</ref>  Its market capitalization was valued at US$109.83 billion at the end of 2019.<ref>{{Cite web |title=Koyfin &#124; Advanced graphing and analytical tools for investors |url=https://koyfin.com/ |website=koyfin.com}}</ref>  Lockheed Martin ranked No. 60 in the 2019 [[Fortune 500]] list of the largest United States corporations by total revenue (down from No. 59 in 2018).<ref>{{Cite web |title=Lockheed Martin |url=https://fortune.com/fortune500/2019/lockheed-martin |url-status=dead |archive-url=https://web.archive.org/web/20200917155320/https://fortune.com/fortune500/2019/lockheed-martin/ |archive-date=September 17, 2020 |access-date=February 8, 2020 |website=Fortune}}</ref>
{| class="wikitable floatright"
|+Sales by region (2023)<ref name=":1" />
!Region
!share
|-
|United States
|73.9%
|-
|Europe
|10.4%
|-
|Asia Pacific
|8.7%
|-
|Middle East
|5.3%
|-
|Other
|1.8%
|}
{| class="wikitable float-left" style="text-align: right;"
!Year
!Revenue<br />in mil. US$
!Net income<br />in mil. US$
!Total Assets<br />in mil. US$
!Price per Share<br />in US$
!Employees
|-
|2005<ref>{{Cite web|url=https://www.annualreports.com/HostedData/AnnualReportArchive/l/NYSE_LMT_2005.pdf|title=2005 Annual Report}}</ref>
|37,213
|1,825
|27,744
|41.78
|
|-
|2006<ref>{{Cite web|url=https://www.annualreports.com/HostedData/AnnualReportArchive/l/NYSE_LMT_2006.pdf|title=2006 Annual Report}}</ref>
|39,620
|2,529
|28,231
|54.52
|
|-
|2007<ref>{{Cite web|url=https://www.annualreports.com/HostedData/AnnualReportArchive/l/NYSE_LMT_2007.pdf|title=2007 Annual Report}}</ref>
|41,862
|3,033
|28,926
|70.93
|
|-
|2008<ref>{{Cite web|url=https://www.annualreports.com/HostedData/AnnualReportArchive/l/NYSE_LMT_2008.pdf|title=2008 Annual Report}}</ref>
|41,372
|3,217
|33,439
|71.54
|
|-
|2009<ref>{{Cite web|url=https://www.annualreports.com/HostedData/AnnualReportArchive/l/NYSE_LMT_2009.pdf|title=2009 Annual Report}}</ref>
|43,867
| 2,973
|35,111
|55.94
|
|-
|2010<ref>{{Cite web|url=https://www.annualreports.com/HostedData/AnnualReportArchive/l/NYSE_LMT_2010.pdf|title=2010 Annual Report}}</ref>
|45,671
| 2,878
|35,113
|57.35
|
|-
|2011<ref>{{Cite web|url=https://www.annualreports.com/HostedData/AnnualReportArchive/l/NYSE_LMT_2011.pdf|title=2011 Annual Report}}</ref>
|46,499
|2,655
|37,908
|60.85
|
|-
|2012<ref>{{Cite web|url=https://www.annualreports.com/HostedData/AnnualReportArchive/l/NYSE_LMT_2012.pdf|title=2012 Annual Report}}</ref>
|47,182
|2,745
|38,657
|73.10
|
|-
|2013<ref>{{Cite web|url=https://www.annualreports.com/HostedData/AnnualReportArchive/l/NYSE_LMT_2013.pdf|title=2013 Annual Report}}</ref>
|45,358
|2,981
|36,188
|97.53
|115,000
|-
|2014<ref>{{Cite web|url=https://www.annualreports.com/HostedData/AnnualReportArchive/l/NYSE_LMT_2014.pdf|title=2014 Annual Report}}</ref>
|39,946
|3,614
|37,046
|151.21
|112,000
|-
|2015<ref>{{Cite web|url=https://www.annualreports.com/HostedData/AnnualReportArchive/l/NYSE_LMT_2015.pdf|title=2015 Annual Report}}</ref>
|40,536
| 3,605
|49,304
|187.00
|126,000
|-
|2016<ref>{{Cite web|url=https://www.annualreports.com/HostedData/AnnualReportArchive/l/NYSE_LMT_2016.pdf|title=2016 Annual Report}}</ref>
|47,248
|5,302
|47,806
|226.05
|97,000
|-
|2017<ref>{{Cite web|url=https://www.annualreports.com/HostedData/AnnualReports/PDF/NYSE_LMT_2017.pdf|title=2017 Annual Report|archive-url=https://web.archive.org/web/20181125204326/https://www.annualreports.com/HostedData/AnnualReports/PDF/NYSE_LMT_2017.pdf|archive-date=November 25, 2018|url-status=dead}}</ref>
|51,048
|2,002
|46,521
|280.65
|100,000
|-
|2018<ref>{{Cite web|url=https://www.lockheedmartin.com/content/dam/lockheed-martin/eo/documents/annual-reports/2018-annual-report.pdf|title=2018 Annual Report}}</ref>
|53,762
|5,046
|44,876
|261.84<ref>{{Cite web|url=https://investors.lockheedmartin.com/stock-information/historical-price-lookup?8c7bdd83-a726-4a84-b969-494be2477e47%5BLMT%5D%5Bdate_month%5D=12&8c7bdd83-a726-4a84-b969-494be2477e47%5BLMT%5D%5Bdate_day%5D=31&8c7bdd83-a726-4a84-b969-494be2477e47%5BLMT%5D%5Bdate_year%5D=2018&url=|title=Historical Price Lookup for December 31, 2018|access-date=February 8, 2020|archive-date=January 17, 2021|archive-url=https://web.archive.org/web/20210117094338/https://investors.lockheedmartin.com/stock-information/historical-price-lookup?8c7bdd83-a726-4a84-b969-494be2477e47&#91;LMT&#93;&#91;date_month&#93;=12&8c7bdd83-a726-4a84-b969-494be2477e47&#91;date_day&#93;=31&8c7bdd83-a726-4a84-b969-494be2477e47&#91;date_year&#93;=2018&url=|url-status=dead}}</ref>
|105,000
|-
|2019<ref name="auto" />
|59,812
|6,230
|47,528
|389.38<ref name=":0" />
|110,000
|-
|2020<ref>{{cite web |url=https://www.lockheedmartin.com/content/dam/lockheed-martin/eo/documents/annual-reports/lockheed-martin-annual-report-2020.pdf |title=2020 Annual Report |publisher=Lockheed Martin |access-date=October 2, 2021}}</ref>
|65,398
|6,833
|50,710
|354.98<ref>{{cite web |url=https://investors.lockheedmartin.com/stock-information/historical-price-lookup?8c7bdd83-a726-4a84-b969-494be2477e47%5BLMT%5D%5Bdate_month%5D=12&8c7bdd83-a726-4a84-b969-494be2477e47%5BLMT%5D%5Bdate_day%5D=31&8c7bdd83-a726-4a84-b969-494be2477e47%5BLMT%5D%5Bdate_year%5D=2020&url= |title=Historical Price Lookup for December 31, 2020 |publisher=Lockheed Martin |access-date=October 2, 2021 |archive-date=July 27, 2021 |archive-url=https://web.archive.org/web/20210727091035/https://investors.lockheedmartin.com/stock-information/historical-price-lookup?8c7bdd83-a726-4a84-b969-494be2477e47%5BLMT%5D%5Bdate_month%5D=12&8c7bdd83-a726-4a84-b969-494be2477e47%5BLMT%5D%5Bdate_day%5D=31&8c7bdd83-a726-4a84-b969-494be2477e47%5BLMT%5D%5Bdate_year%5D=2020&url= |url-status=dead }}</ref>
|114,000
|-
|2021<ref name=10K2021>{{cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/936468/000093646822000008/lmt-20211231.htm |title=US SEC: Form 10-K Lockheed Martin Corporation |publisher=[[United States Securities and Exchange Commission]] |date=January 25, 2022}}</ref>
|67,044
|6,315
|50,873
|355.41<ref>{{cite web |url=https://investors.lockheedmartin.com/stock-information/historical-price-lookup?8c7bdd83-a726-4a84-b969-494be2477e47%5BLMT%5D%5Bdate_month%5D=12&8c7bdd83-a726-4a84-b969-494be2477e47%5BLMT%5D%5Bdate_day%5D=31&8c7bdd83-a726-4a84-b969-494be2477e47%5BLMT%5D%5Bdate_year%5D=2021&url= |title=Historical Price Lookup for December 31, 2021 |publisher=Lockheed Martin |access-date=May 2, 2022 |archive-date=April 16, 2023 |archive-url=https://web.archive.org/web/20230416111557/https://investors.lockheedmartin.com/stock-information/historical-price-lookup?8c7bdd83-a726-4a84-b969-494be2477e47&#91;LMT&#93;&#91;date_month&#93;=12&8c7bdd83-a726-4a84-b969-494be2477e47&#91;date_day&#93;=31&8c7bdd83-a726-4a84-b969-494be2477e47&#91;date_year&#93;=2021&url= |url-status=dead }}</ref>
|114,000
|-
|2022<ref name=10K2022/>
|65,984
|5,732
|52,880
|486.49<ref>{{cite web |url=https://investors.lockheedmartin.com/stock-information/historical-price-lookup?8c7bdd83-a726-4a84-b969-494be2477e47%5BLMT%5D%5Bdate_month%5D=12&8c7bdd83-a726-4a84-b969-494be2477e47%5BLMT%5D%5Bdate_day%5D=31&8c7bdd83-a726-4a84-b969-494be2477e47%5BLMT%5D%5Bdate_year%5D=2022&url= |title=Historical Price Lookup for December 31, 2022 |publisher=Lockheed Martin |access-date=January 29, 2023 |archive-date=January 30, 2023 |archive-url=https://web.archive.org/web/20230130013801/https://investors.lockheedmartin.com/stock-information/historical-price-lookup?8c7bdd83-a726-4a84-b969-494be2477e47%5BLMT%5D%5Bdate_month%5D=12&8c7bdd83-a726-4a84-b969-494be2477e47%5BLMT%5D%5Bdate_day%5D=31&8c7bdd83-a726-4a84-b969-494be2477e47%5BLMT%5D%5Bdate_year%5D=2022&url= |url-status=dead }}</ref>
|116,000
|-
|2023<ref name=10K2023>{{cite web |url=https://www.sec.gov/Archives/edgar/data/936468/000093646824000010/lmt-20231231.htm |title=US SEC: Form 10-K Lockheed Martin Corporation |publisher=[[United States Securities and Exchange Commission]] |date=January 23, 2024}}</ref>
|67,571
|6,920
|52,456
|453.24<ref>{{cite web |url=https://investors.lockheedmartin.com/stock-information/historical-price-lookup?8c7bdd83-a726-4a84-b969-494be2477e47%5BLMT%5D%5Bdate_month%5D=12&8c7bdd83-a726-4a84-b969-494be2477e47%5BLMT%5D%5Bdate_day%5D=30&8c7bdd83-a726-4a84-b969-494be2477e47%5BLMT%5D%5Bdate_year%5D=2023&url= |title=Historical Price Lookup for Week of December 26, 2023 |publisher=Lockheed Martin |access-date=January 27, 2024 |archive-date=January 27, 2024 |archive-url=https://web.archive.org/web/20240127213212/https://investors.lockheedmartin.com/stock-information/historical-price-lookup?8c7bdd83-a726-4a84-b969-494be2477e47&#91;LMT&#93;&#91;date_month&#93;=12&8c7bdd83-a726-4a84-b969-494be2477e47&#91;date_day&#93;=30&8c7bdd83-a726-4a84-b969-494be2477e47&#91;date_year&#93;=2023&url= |url-status=dead }}</ref>
|122,000
|-
|2024<ref name="10K" />
|71,043
|5,336
|55,617
|485.94
|121,000
|}

===$1.6 billion Q2 loss due to "magical" classified program===
Lockheed profits sharply dropped 80% in Q2 2025, owing to a highly classified U.S. government aerospace program CEO James Taiclet described as "magical".<ref name="Lockheed Magic 2025-07-31">{{Cite web|date=2025-07-31|title=Lockheed Martin (LMT) teases 'magical' aircraft project—and it's not Trump's F-55|last1=Menchaca|first1=Paul J.|url=https://investorsobserver.com/news/stock-update/lockheed-martin-lmt-teases-magical-aircraft-project-and-its-not-trumps-f-55/|url-status=live|website=Investors Observers|archive-url=https://web.archive.org/web/20250823000117/https://investorsobserver.com/news/stock-update/lockheed-martin-lmt-teases-magical-aircraft-project-and-its-not-trumps-f-55/|archive-date=2025-08-23}}</ref> The loss from development of the described "game changing" classified aerospace program totaled $1.6 billion.<ref name="Lockheed magic 2025-07-25">{{Cite web|date=2025-07-25|title=Lockheed Martin Teases 'Magical' Classified Project That Will Be 'Game-Changing'|last1=Dwilson|first1=Derek|url=https://finance.yahoo.com/news/lockheed-martin-teases-magical-classified-015749900.html?guccounter=1|url-status=live|website=[[Yahoo Finance]]|archive-url=https://web.archive.org/web/20250823000742/https://finance.yahoo.com/news/lockheed-martin-teases-magical-classified-015749900.html?guccounter=1|archive-date=2025-08-23}}</ref> Taiclet stated investors would be unable to know details of the "magical" classified aerospace program for many years to come.<ref name="Lockheed Magic 2025-07-31" /> During the same earnings call, Lockheed acknowledged the existence of a second highly classified aerospace program, described as well as both magical and game-changing.<ref name="Lockheed magic 2025-07-25" />

== Organization ==
=== Other business areas ===
=== International operations ===
* [[Lockheed Martin UK]]
* [[Lockheed Martin Canada]]
* Lockheed Martin Australia

=== Enterprise operations ===
* Corporate Headquarters Operations
* Internal Corporate Functions: Ethics, Finance, HR, Legal, etc.<ref>[https://www.lockheedmartin.com/en-us/careers/why-lm/business-areas/eo.html]LM EO webpage</ref>
* [[Lockheed Martin Advanced Technology Laboratories]]

=== Wholly owned corporate subsidiaries ===
* ForwardEdge ASIC
* Lockheed Martin Finance Corporation
* LMC Properties

=== Joint ventures ===
* [[International Launch Services]] (with [[Khrunichev]], [[RSC Energia]])
* [[Lockheed Martin Alenia Tactical Transport Systems]] (with [[Alenia Aeronautica]]), now folded
* [[Medium Extended Air Defense System|MEADS]] International (with [[EADS]] and [[MBDA]])
* [[Space Imaging]] (46%, remainder public)
* [[United Launch Alliance]] (with [[Boeing]])
* Javelin Joint Venture (with [[Raytheon]])
* Longbow LLC (with [[Northrop Grumman]])
* [[United Space Alliance]] (with Boeing)
* Kelly Aviation Center (with [[GE]] and [[Rolls-Royce plc|Rolls-Royce]])
* [[Protector USV]] – an unmanned surface vehicle (with [[Rafael Advanced Defense Systems]] and [[BAE Systems]])
* Defense Support Services (DS2) with [[Day & Zimmermann]]<ref>[http://www.ds2.com/ official site] ds2.com</ref>
* [[Tata Advanced Systems#Tata–Lockheed Martin Aerostructures Limited|Tata Lockheed Martin Aerostructures Limited]] (with Indian company [[Tata Advanced Systems]])
* Advanced Military Maintenance Repair and Overhaul Center (AMMROC) (with [[Mubadala Development Company]])

=== Divested ===
* [[Pacific Architects and Engineers]] (PAE) Holding, Inc<ref>{{cite web |title=PAE Company Overview |url=http://www.pae.com/sites/default/files/PAE_Company%20Overview%20Final%5B1%5D.pdf |website=pae.com |access-date=March 28, 2015 |page=5 |url-status=dead |archive-url=https://web.archive.org/web/20150402141722/http://www.pae.com/sites/default/files/PAE_Company%20Overview%20Final%5B1%5D.pdf |archive-date=April 2, 2015}}</ref>
*SIM Industries (to CAE)<ref>[https://www.marketscreener.com/quote/stock/CAE-INC-1409317/news/CAE-Inc-completed-the-acquisition-of-Lockheed-Martin-Commercial-Flight-Training-from-Lockheed-Marti-35470630/]2016 CAE Acquisition Announcement</ref>

== Corporate governance ==

=== Board of directors ===
The board of directors consists of 14 members. As of 2020, members include:<ref>{{Cite web |title = Board of Directors · Lockheed Martin |url= https://www.lockheedmartin.com/us/who-we-are/corporate-governance/board.html |website= lockheedmartin.com |access-date= September 17, 2020}}</ref>
* [[Daniel Akerson]] (since 2014)
* [[David Burritt]] (since 2008)
* Bruce Carlson (since 2015)
* [[Joseph F. Dunford]] (since 2020)
* James Ellis (since 2004)
* Thomas Falk (since 2010)
* [[Ilene S. Gordon]] (since 2016)
* Vicki A. Hollub (since 2018)
* [[Jeh Johnson]] (since 2018)
* [[Debra L. Reed|Debra L. Reed-Klages]] (since 2019)
* [[James D. Taiclet]] (since 2018)

=== Chief executive officer ===
* [[Daniel Michael Tellep|Daniel Tellep]] (1995–1996)
* [[Norman R. Augustine|Norman Augustine]] (1996–1997)
* [[Vance D. Coffman|Vance Coffman]] (1997–2004)
* [[Robert J. Stevens]] (2004–2012)
* [[Marillyn Hewson]] (2013–2020)
* [[James D. Taiclet]] (2020–present)

=== Chairman of the board ===
* [[Robert J. Stevens]] (2005–2013)
* [[Marillyn Hewson]] (2014–2021)
* [[James D. Taiclet]] (2021-present)<ref>[https://news.lockheedmartin.com/2021-01-29-Lockheed-Martin-Board-Elects-James-D-Taiclet-as-Chairman-Marillyn-A-Hewson-to-Serve-as-Strategic-Advisor-and-Gregory-M-Ulmer-as-Executive-Vice-President-of-Aeronautics "Lockheed Martin Board Elects James D. Taiclet As Chairman..."]. Lockheed Martin, January 29, 2021.</ref>

=== Ownership ===
As of December 2023, Lockheed Martin shares are mainly held by institutional investors ([[State Street Corporation]], [[Vanguard group]], [[BlackRock]], [[Capital Group Companies]], and others).<ref>{{cite web |url=http://www.nasdaq.com/symbol/lmt/ownership-summary |title=Lockheed Martin Corporation (LMT) Ownership Summary |date= March 31, 2020 |website=NASDAQ.com |access-date= May 27, 2020}}</ref>
{| class="wikitable" style="text-align:center;"
|+Largest shareholders in December 2023
!Shareholder
!Country
!Shares
!Percentage
!Value in thousands USD
|-
| style="text-align:left;" |[[State Street Corporation]]
|{{USA|#}}
| style="text-align:right;" |37,049,916
|15.33%
| style="text-align:right;" |$16,113,379
|-
| style="text-align:left;" |[[The Vanguard Group]]
|{{USA|#}}
| style="text-align:right;" |22,099,137
|9.15%
| style="text-align:right;" |$9,611,136
|-
| style="text-align:left;" |[[BlackRock]] Inc.
|{{USA|#}}
| style="text-align:right;" |18,158,813
|7.51%
| style="text-align:right;" |$7,897,449
|-
| style="text-align:left;" |[[Charles Schwab Corporation]]
|{{USA|#}}
| style="text-align:right;" |5,637,923
|2.33%
| style="text-align:right;" |$2,451,989
|-
| style="text-align:left;" |[[Morgan Stanley]]
|{{USA|#}}
| style="text-align:right;" |5,206,242
|2.15%
| style="text-align:right;" |$2,264,247
|-
| style="text-align:left;" |[[Capital Group Companies|Capital World Investors]]
|{{USA|#}}
| style="text-align:right;" |5,031,450
|2.08%
| style="text-align:right;" |$2,188,228
|-
| style="text-align:left;" |[[Geode Capital Management]], LLC
|{{USA|#}}
| style="text-align:right;" |4,559,183
|1.89%
| style="text-align:right;" |$1,982,834
|-
| style="text-align:left;" |[[Fidelity Investments|FMR, LLC]]
|{{USA|#}}
| style="text-align:right;" |4,351,452
|1.80%
| style="text-align:right;" |$1,892,490
|-
| style="text-align:left;" |[[Bank of America]]
|{{USA|#}}
| style="text-align:right;" |3,209,854
|1.33%
| style="text-align:right;" |$1,395,998
|-
| style="text-align:left;" |[[Wellington Management Company]]
|{{USA|#}}
| style="text-align:right;" |2,807,469
|1.16%
| style="text-align:right;" |$1,220,996
|-
|'''Total'''
|
|'''179,583,655'''
|'''100%'''
| style="text-align:right;" |
|}

=== Criticism ===
Lockheed Martin is listed as the largest U.S. government contractor and ranks first for the number of incidents, and fifth for the size of settlements on the 'contractor misconduct' database maintained by the [[Project on Government Oversight]], a Washington, D.C.–based watchdog group. Since 1995, the company has agreed to pay $676.8&nbsp;million to settle 88 instances of misconduct.<ref>{{cite web |url=http://www.contractormisconduct.org/ |title=Federal Contractor Misconduct Database |publisher=[[Project on Government Oversight]] |access-date=January 15, 2014 |archive-date=May 8, 2011 |archive-url=https://web.archive.org/web/20110508031346/http://www.contractormisconduct.org/ |url-status=dead }}</ref>

In 2015, Lockheed Martin agreed to pay $4.7 million to settle charges that it illegally used [[Government spending|taxpayer money]] to lobby the federal government to [[Anti-competitive practices|block competitors]], including by funneling funds through its subsidiary, [[Sandia National Laboratories|Sandia Corporation]].<ref>{{Cite web |title=Lockheed's top government affairs official not registered as lobbyist |url=https://www.politico.com/story/2016/07/lockheed-lobbyist-no-registered-225044 |access-date=2025-07-31 |website=POLITICO}}</ref><ref name=":2">{{Cite web |last=Tiefer |first=Charles |title=The 10 Worst Things About Lockheed Martin's Alleged Lobbying Fraud |url=https://www.forbes.com/sites/charlestiefer/2015/08/31/lockheed-fined-4-7-million-for-fraudulent-taxpayer-paid-lobbying-with-most-corrupt-ex-rep-wilson/ |access-date=2025-07-31 |website=Forbes |language=en}}</ref> This involved hiring former Representative [[Heather Wilson]], one of the most influential ex-lawmakers in the [[Arms industry|defense sector]], as an unregistered lobbyist to maintain Lockheed's lucrative [[Nuclear weapon|nuclear weapons]] lab contracts.<ref name=":2" /><ref>{{Cite news |date=2015-08-27 |title=Lockheed Martin pays $4.7 million to settle charges it lobbied for federal contract with federal money |url=https://www.washingtonpost.com/news/federal-eye/wp/2015/08/24/after-allegations-that-it-lobbied-with-federal-money-to-block-competition-lockheed-martin-agrees-to-pay-almost-5-million/ |archive-url=https://web.archive.org/web/20240419022134/https://www.washingtonpost.com/news/federal-eye/wp/2015/08/24/after-allegations-that-it-lobbied-with-federal-money-to-block-competition-lockheed-martin-agrees-to-pay-almost-5-million/ |archive-date=2024-04-19 |access-date=2025-07-31 |work=[[The Washington Post]] |language=en}}</ref> More broadly, commentators have criticized Lockheed Martin and other weapons defense firms for using secretive spending and [[dark money]] to influence [[Defense policy of the United States|defense policy]], raising concerns about reduced accountability and [[national security]] risks.<ref>{{Cite news |last=Williams |first=Janiyah |date=2022-08-04 |title=Secret spending by the weapons industry is making us less safe |url=https://thehill.com/opinion/national-security/3588029-secret-spending-by-the-weapons-industry-is-making-us-less-safe/ |archive-url=https://web.archive.org/web/20230521150609/https://thehill.com/opinion/national-security/3588029-secret-spending-by-the-weapons-industry-is-making-us-less-safe/ |archive-date=May 21, 2023 |access-date=2025-07-31 |work=The Hill |language=en-US |url-status=live }}</ref>

In 2013, Lt. Gen. [[Christopher Bogdan]] criticized the company's F-35 fighter program. The general said: "I want them both to start behaving like they want to be around for 40 years&nbsp;... I want them to take on some of the risk of this program. I want them to invest in cost reductions. I want them to do the things that will build a better relationship. I'm not getting all that love yet."<ref>{{cite news |url=https://www.nytimes.com/2013/02/28/business/lockheed-criticized-by-f-35-jet-program-chief.html?gwh=A3B475A95F1953E78A6BB177A73AEB78 |work=The New York Times |first=Christopher |last=Drew |title=Lockheed Criticized by F-35 Jet Program Chief |date=February 27, 2013}}</ref> The criticism came in the wake of previous criticism from former [[United States Secretary of Defense|Defense Secretary]] [[Robert Gates]] regarding the same program.<ref>{{cite news|url=http://www.mcclatchydc.com/2010/02/03/83590/lockheed-martin-downplays-gates.html|title=Lockheed Martin downplays Gates' criticism of F-35 program|author=Bob Cox|work=The Fort Worth Star-Telegram|date=February 3, 2010|access-date=September 13, 2013|archive-url=https://web.archive.org/web/20130514040520/http://www.mcclatchydc.com/2010/02/03/83590/lockheed-martin-downplays-gates.html|archive-date=May 14, 2013|url-status=dead}}</ref>

Lockheed Martin has highlighted the conflicts in [[Gaza genocide|Gaza]] and [[Ukraine]] as potential opportunities for future revenue growth.<ref>{{Cite web |last=Goodkind |first=Nicole |date=2023-10-18 |title=What the Israel-Hamas war means for defense stocks  |url=https://www.cnn.com/2023/10/18/investing/premarket-stocks-trading/index.html |access-date=2025-05-14 |website=CNN Business |language=en}}</ref>

=== Lobbying ===
According to the magazine ''[[Politico]]'', Lockheed Martin has "a political network that is already the envy of its competitors", and its contracts enjoy wide bipartisan support in the U.S. Congress thanks to it having "perfected the strategy of spreading jobs on weapons programs in key states and congressional districts".<ref>{{cite news|last1=Munsil|first1=Leigh|last2=Wright|first2=Austin|title=Is Lockheed Martin too big to fail? Lockheed has made itself dominant on Capitol Hill – with defense jobs in virtually every state|url=https://www.politico.com/story/2015/08/is-lockheed-martin-too-big-too-fail-121203.html|access-date=August 12, 2015|work=Politico|date=August 12, 2015}}</ref> The company's 2022 lobbying expenditure is $13.6&nbsp;million (2009 total: $13.7&nbsp;million).<ref>{{cite web |title=Lockheed Martin Profile: Summary |url=https://www.opensecrets.org/orgs/lockheed-martin/summary?id=D000000104 |access-date=November 24, 2023 |publisher=[[OpenSecrets]]}}</ref><ref>{{cite web |url=http://soprweb.senate.gov/index.cfm?event=chooseFields |title=Lobbying Disclosure Act Database |publisher=United States Senate |access-date=January 5, 2011 |archive-url=https://web.archive.org/web/20101231011939/http://soprweb.senate.gov/index.cfm?event=chooseFields |archive-date=December 31, 2010 |url-status=dead}}</ref>

Through its [[political action committee]] (PAC), the company provides low levels of financial support to candidates who advocate national defense and relevant business issues.<ref>{{cite web |url=https://www.lockheedmartin.com/investor/corporate_governance/PoliticalDisclosures.html |title=Political Disclosures |publisher=LockheedMartin.com |access-date=January 4, 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110121183547/http://www.lockheedmartin.com/investor/corporate_governance/PoliticalDisclosures.html |archive-date=January 21, 2011}}</ref> It was the largest contributor to the [[House Armed Services Committee]] chairman, [[Republican Party (United States)|Republican]] [[Buck McKeon]] of California with over $50,000 donated in the election cycle as of January 2011. It also was the top donor to Sen. [[Daniel Inouye]] (D-HI), the chair of the [[Senate Appropriations Committee]] before his death in 2012.<ref name=MoJo />

Lockheed Martin Employees Political Action Committee is one of the 50 largest in the country, according to FEC data. With contributions from 3,000 employees, it donates $500,000 a year to about 260 House and Senate candidates.<ref>{{cite web|url=http://www.corpwatch.org/article.php?id=7838|title=CorpWatch: US: Lockheed Martin Lobby Group Audited|access-date=June 29, 2010|archive-date=June 20, 2010|archive-url=https://web.archive.org/web/20100620212826/http://corpwatch.org/article.php?id=7838|url-status=dead}}</ref>{{Needs update|date=November 2023|reason=Has not been updated in 13 years}}

In 2025, Lockheed Martin was one of the donors who funded the White House's [[East Wing#2025 demolition|East Wing demolition]], and planned building of a ballroom.<ref>{{cite news |last1=Maher |first1=Kit |last2=Tapper |first2=Jake |last3=Jaramillo |first3=Alejandra |title=White House releases list of donors for Trump’s multi-million-dollar ballroom |url=https://www.cnn.com/2025/10/23/politics/ballroom-donors-white-house-trump |access-date=23 October 2025 |work=CNN |archive-url=https://web.archive.org/web/20251023104311/https://www.cnn.com/2025/10/23/politics/ballroom-donors-white-house-trump |archive-date=October 23, 2025}}</ref>

== Management ==
Senior management consists of the [[CEO]], [[CFO]], and [[Executive Vice President]]s (EVPs) of four business areas.<ref>{{cite web |url=https://www.lockheedmartin.com/en-us/who-we-are/leadership-governance.html |title=Executive Leadership |date=September 23, 2021 |publisher=Lockheed Martin |access-date=October 2, 2021}}</ref><ref>{{cite web |title=Our Businesses |date=March 11, 2021 |url=https://www.lockheedmartin.com/en-us/who-we-are/business-areas.html |publisher=Lockheed Martin |access-date=October 2, 2021}}</ref> The EVPs are responsible for managing major programs.{{Citation needed|date=August 2024}}

On March 16, 2020, Lockheed announced that CEO [[Marillyn Hewson]] would become executive chair and be succeeded as CEO by James Taiclet on June 15; Taiclet was at the time the head of [[American Tower]], and had previously been the president of [[Honeywell Aerospace]] and before that a VP at [[United Technologies]]. Lockheed also announced that it would create the [[chief operating officer]] role, to which current EVP Frank A. St John would be promoted.<ref>{{cite web|url=https://techcrunch.com/2020/03/16/lockheed-martin-ceo-marilyn-hewson-to-be-succeeded-by-board-member-james-taiclet/ |title=Lockheed Martin CEO Marilyn Hewson to be succeeded by board member James Taiclet |website=TechCrunch.com |last=Etherington |first=Darrell |date=March 16, 2020}}</ref>

Employees in each program are organized into four tiers: Tier 1: Program Manager/VP, Tier 2: Functional Teams (Finance, Chief Engineer, Quality, Operations, etc.), Tier 3: Integrated Product Teams (IPTs) (Weapon System Development, Weapon System Integration, etc.), and Tier 4: detailed product development.  Floor or touch workers belong to component assembly teams.<ref name="libsys.uah.edu">{{cite report |last=Cox |first=James D. |title=Organizational Challenges in the Integrated Product Team Implementation |publisher=Proceedings of the Third Annual International Symposium of the National Council on Systems Engineering |date=July 26–28, 1993 |location=Arlington, Virginia |url=http://libsys.uah.edu/library/incose/Contents/Papers/93/9366.pdf}}{{dead link|date=July 2017 |bot=InternetArchiveBot |fix-attempted=yes}}</ref> Lockheed Martin manages and maintains its relationship with these touch workers through its supervisors and unions.<ref>{{cite web |title=Job search-Labor Relations Representative in Marietta Georgia United States |publisher=LockheedMartin.com. |url=http://lockheedmartin-veterans.jobs/marietta-ga/labor-relations-representative/30654895/job/}}{{dead link|date=July 2017 |bot=InternetArchiveBot |fix-attempted=yes}}</ref>

Lockheed Martin manages employees through its Full Spectrum Leadership and LM21 programs.<ref>{{cite web |title=Full Spectrum Leadership |publisher=Lockheed Martin |url=https://www.lockheedmartin.com/us/who-we-are/leadership/full-spectrum-leadership.html |access-date=October 5, 2012}}</ref> The LM21 program relies on [[Six Sigma]] principles, which are techniques to improve efficiency. Senior management constructs leadership councils and assigns managers to facilitate [[Kaizen]] events, which target specific processes for improvement.  A manager facilitates teams and processes stakeholders and suppliers to streamline process implementation.<ref>{{cite journal |last1=Joyce |first1=Michael |first2=Bettina |last2=Schechter |title=The Lean Enterprise- A Management Philosophy at Lockheed Martin |journal=Defense Acquisition Review Journal |pages=173–181 |date=2004 |url=http://www.dtic.mil/cgi-bin/GetTRDoc?AD=ADA435279 |url-status=dead |access-date=October 19, 2012 |archive-date=April 13, 2013 |archive-url=https://web.archive.org/web/20130413152204/http://www.dtic.mil/cgi-bin/GetTRDoc?AD=ADA435279.}}</ref><ref>{{cite book |first=E. |last=Mayo |chapter=Hawthorne and the Western Electric Company |title=The Social Problems of an Industrial Civilization |publisher=Routledge |date=1949 |pages=60–76 |url=http://isites.harvard.edu/fs/docs/icb.topic1074572.files/Mayo_HawthornWesternElec.pdf |access-date=October 19, 2012}}{{dead link|date=January 2022|bot=medic}}{{cbignore|bot=medic}}</ref><ref name="libsys.uah.edu" />

Tier 2 Functional Leads and Tier 3 IPT Leads report to Tier 1. IPT leads are responsible for entire systems or products defined by the contract's Statement of Work.<ref name="libsys.uah.edu" />

To control quality, Lockheed Martin trains and builds IPT teams.<ref name="libsys.uah.edu" /> and ensures that work is executed correctly through a Technical Performance Measure (TPM) system which emphasizes its Lean and 6 Sigma processes. Middle management uses commitment mechanisms that parallel high commitment and human relations theory.<ref>{{cite journal |last=Walton |first=Richard E. |title=From Control to Commitment in the Workplace |journal=Harvard Business Review |date=March–April 1985 |pages=77–84}}</ref>

Floor employees assemble aircraft using Flow-to-[[Takt time|takt]] lean manufacturing process<ref>{{cite web |title=The Factory Flow, Assembling Major Components |website=F35.com |url=https://f35.com/building-the-f-35/production/the-moving-line.aspx |url-status=dead |archive-url=https://web.archive.org/web/20120801193332/https://f35.com/building-the-f-35/production/the-moving-line.aspx |archive-date=August 1, 2012 |access-date=October 5, 2012}}</ref> which uses properties from both division of labor and scientific management. By separating tasks based on parts, Lockheed Martin utilizes the division of labor theory,<ref>Frank Dobbins Lecture, September 10, 2012, Harvard University</ref> specialization on a specific area creates efficiency.{{Citation needed|date=August 2024}}

=== Double Helix methodology ===
The "Double Helix methodology" is a systems development methodology used by Lockheed Martin. It combines experimentation, technology, and a warfighter's [[Concept of Operations|concept of operations]] to create new tactics and weapons.<ref name="DoubleHelixInfo">{{cite web|url=http://www.atl.lmco.com/news/techbriefs/techbriefs_DH.php|title=The Right Technology for Tomorrow – Today|work=Tech Briefs|publisher=Lockheed Martin|date=October 24, 2008|access-date=November 25, 2010|archive-url=https://web.archive.org/web/20110904152607/http://www.atl.lmco.com/news/techbriefs/techbriefs_DH.php|archive-date=September 4, 2011|url-status=dead}}</ref>

== See also ==
{{Portal|Aviation}}
* [[Arms industry]]
* [[Military–industrial complex]]
* [[Defense contractor]] – table of comparable companies
* [[Maintenance Trophy|Lockheed Martin Maintenance Trophy]]
* [[Top 100 US Federal Contractors]]

== References ==
{{Reflist|30em}}

== Further reading ==
* [[William D. Hartung]]. ''Prophets of War: Lockheed Martin and the Making of the Military-Industrial Complex''. [[Nation Books]], 2010. {{ISBN|9781568584201}}.
* [https://web.archive.org/web/20071012212617/http://www.time.com/time/nation/article/0,8599,1589735,00.html "A Security Analyst Wins Big in Court"]. Time magazine
* [https://www.washingtonpost.com/wp-dyn/content/article/2006/08/31/AR2006083101067.html "Lockheed Wins Contract to Build NASA's New Spaceship"]. Washington Post
* [https://web.archive.org/web/20070303040035/http://blogs.abcnews.com/theblotter/2007/02/jury_slaps_defe.html "Jury Slaps Defense Giant for Neglecting National Security"]. ''ABC News''
* [https://www.cbsnews.com/news/nasa-mars-probe-doomed-by-human-error/ "NASA: Mars Surveyor Was Doomed By Humans"]. CBS News
* [https://news.bbc.co.uk/1/hi/world/americas/791747.stm "Lockheed Fined Over Secrets Breach"]. BBC News
* [https://www.washingtonpost.com/wp-dyn/content/article/2007/02/07/AR2007020702334.html "Coast Guard Failed to Properly Oversee Contracts, Officials Say"]. Washington Post
* [https://archive.today/20130116022124/http://marietta.11alive.com/news/news/93633-ceremonial-event-planned-final-f-22-raptor-tuesday Ceremonial event planned for final F-22 Raptor]

== External links ==
{{Commons category}}
* {{Official website}}
{{Finance links
| name = Lockheed Martin
| google = LMT
| reuters = LMT
| sec_cik = LMT
| yahoo = LMT
}}
* [https://www.usaspending.gov/recipient/b97d19b0-833c-8d8f-3a2c-157d04ea55ef-P Lockheed Martin Corporation] recipient profile on [[USAspending.gov]]
* [https://web.archive.org/web/20151125233121/https://fas.org/man/company/lock-mart.htm FAS, history and key dates]
* [http://www.sourcewatch.org/index.php?title=Lockheed_Martin Lockheed Martin] at [[SourceWatch]]
* {{cite web |title=Patents owned by Lockheed Martin |publisher=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 |access-date=December 5, 2005 |archive-date=May 9, 2017 |archive-url=https://web.archive.org/web/20170509053726/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 |url-status=dead}}

{{Lockheed Martin}}
{{Lockheed aircraft}}
{{Maryland Corporations}}
{{DJSI World}}
{{Authority control}}

[[Category:Lockheed Martin| ]]
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