38 Facts About Lockheed Martin


Lockheed Martin Corporation is an American aerospace, arms, defense, information security, and technology corporation with worldwide interests.

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Lockheed Martin employs approximately 115,000 employees worldwide, including about 60,000 engineers and scientists as of January 2022.

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Lockheed Martin is one of the largest companies in the aerospace, military support, security, and technologies industry.

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Lockheed Martin is a contractor for the US Department of Energy and the National Aeronautics and Space Administration.

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Lockheed Martin operates in four business segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.

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Lockheed Martin is currently developing the F-35 Lightning II and leads the international supply chain, leads the team for the development and implementation of technology solutions for the new USAF Space Fence, and is the primary contractor for the development of the Orion command module.

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Lockheed Martin invests in healthcare systems, renewable energy systems, intelligent energy distribution, and compact nuclear fusion.

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Lockheed Martin later spun off the materials company Martin Marietta Materials.

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Lockheed Martin products included the Trident missile, P-3 Orion maritime patrol aircraft, U-2 and SR-71 reconnaissance airplanes, F-117 Nighthawk, F-16 Fighting Falcon, F-22 Raptor, C-130 Hercules, A-4AR Fightinghawk and the DSCS-3 satellite.

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On November 27,2000, Lockheed Martin completed the sale of its Aerospace Electronic Systems business to BAE Systems for $1.

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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.

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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.

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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.

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On May 25,2011, Lockheed Martin bought the first Quantum Computing System from D-Wave Systems.

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Lockheed Martin established a multi-year contract that includes one system, maintenance and services.

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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.

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On November 27,2012, Lockheed Martin announced that Marillyn Hewson will become the corporation's chief executive officer on January 1,2013.

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On January 7,2013, Lockheed Martin Canada announced that it will be acquiring the engine maintenance, repair and overhaul assets from Aveos Fleet Performance in Montreal, Quebec, Canada.

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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.

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Lockheed Martin teamed up with Bell Helicopter to propose the V-280 Valor tiltrotor for the Future Vertical Lift program.

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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.

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On November 14,2013, Lockheed Martin announced they would be closing their Akron, Ohio facility laying off 500 employees and transferring other employees to other locations.

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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.

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Also in March 2014, Lockheed Martin announced its acquisition of Industrial Defender Inc 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.

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In September 2014, Lockheed Martin agreed to a deal to sell 40 F-35 fighters to South Korea for delivery between 2018 and 2021, for a fee in the range of $7.

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On July 20,2015, Lockheed Martin announced plans to purchase Sikorsky Aircraft from United Technologies Corporation at a cost of $7.

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Lockheed Martin has shown sketches for a twin-engine, blended wing body strategic airlifter similar in size to the C-5.

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In December 2015, Lockheed Martin won an $867 million seven-year contract to train Australia's next generation of military pilots.

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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.

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On February 13,2022, Lockheed Martin abandoned the deal following regulatory disapproval.

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Lockheed Martin ranked No 60 in the 2019 Fortune 500 list of the largest United States corporations by total revenue.

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On March 3,2012, the US Justice Department said that Lockheed Martin had agreed to settle allegations that the defense contractor had sold overpriced perishable tools used on many contracts.

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On February 20,2013, Lockheed Martin Corp complied with the US District Court in New York, agreeing to pay a $19.

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On December 20,2014, Lockheed Martin Integrated Systems agreed to settle a False Claims Act lawsuit paying $27.

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Lockheed Martin is listed as the largest US 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, DC -based watchdog group.

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On March 16,2020, Lockheed Martin announced that CEO Marillyn Hewson would become executive chair and be succeeded as CEO by James Taiclet on June 15; Taiclet is currently the head of American Tower, and was previously the president of Honeywell Aerospace and before that a VP at United Technologies.

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Lockheed Martin manages and maintains its relationship with these touch workers through its supervisors and unions.

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Lockheed Martin manages employees through its Full Spectrum Leadership and LM21 programs.

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