Lockheed Martin

Lockheed Martin (Template:Nyse) is an American global manufacturer|aerospace, (military)|defense, security|security, and advanced technology company with worldwide interests. It was formed by the integration|merger of Corporation with Marietta in March 1995. It is headquartered in Maryland, in the Metropolitan Area. Lockheed Martin employs 123,000 people worldwide. J. Stevens is the current (official)|Chairman and Chief Executive Officer.

Lockheed Martin is one of the world's largest contractors; In 2009, 74% of Lockheed Martin's revenues came from military sales. It received 7.1% of the funds paid out by the Pentagon.

Lockheed Martin operates in four business segments. These comprise, with respective percentages of 2009 total net sales of $45.2 billion, Aeronautics (27%), Electronic Systems (27%), Information Systems & Global Solutions (27%), and Space Systems (19%). In 2009 US Government contracts accounted for $38.4 billion (85%), foreign government contracts $5.8 billion (13%), and commercial and other contracts $0.9 billion (2%). In both 2009 and 2008 the company topped the 100 US Federal Contractors|list of US Federal Contractors.

The company has received the Trophy six times. Most recently (in 2001) for being part of developing the [1]/Lightning II|F-35B [2] Propulsion System, and again in 2006 for leading the team that developed the Raptor fighter jet.

History

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

Both companies contributed important products to the new portfolio. Lockheed products included the missile, Orion, Dynamics F-16 Fighting Falcon|F-16 Fighting Falcon, Raptor, Hercules, Fightinghawk and the DSCS-3 satellite. Martin Marietta products included (rocket family)|Titan rockets, National Laboratories (management contract acquired in 1993), Shuttle external tank|Space Shuttle External Tank, 1 and 2 landers, the Transfer Orbit Stage (under subcontract to Sciences Corporation) and various satellite models.

On April 22, 1996, Lockheed Martin completed the acquisition of Corporation's defense electronics and system integration businesses for $9.1 billion, the deal having been announced in January. The remainder of Loral became Space & Communications.

Lockheed Martin abandoned plans for a $8.3 billion merger with 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.

Lockheed Martin provided NASA with measurements in States customary units|US Customary force units when metric was expected, resulting in the loss of the Climate Orbiter at a cost of $125 million. The cost for spacecraft development was $193.1 million. Martin headquarters.jpg|thumb|left|A Lockheed Martin building in Bethesda, Maryland

In May 2001, Lockheed Martin sold Systems Platform Solutions|Lockheed Martin Control Systems to Systems. On November 27, 2000, Lockheed completed the sale of its Martin Aerospace Electronic Systems|Aerospace Electronic Systems business to BAE Systems for $1.67 billion, a deal announced in July 2000. This group encompassed Associates, Systems, and Lockheed Martin Space Electronics & Communications.

In 2001, Lockheed Martin won the contract to build the Lightning II; this was the largest fighter aircraft procurement project since the F-16, with an initial order of 3,000 worth some $200 billion before export orders.

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 million based on allegations that its predecessor, Lockheed Engineering Science Corporation, submitted false lease costs claims to NASA.

On May 12, 2006, 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.

On August 31, 2006, Lockheed Martin won a $3.9 billion contract from NASA to design and build the CEV capsule, also known as (Constellation program)|Orion – the next [3] for spaceflight|human flight – for the Ares I rocket in the Constellation Program.Template:Update after

On August 13, 2008, Lockheed Martin acquired the government business unit of Nantero, Inc., a company that had developed methods and processes for incorporating nanotubes in next-generation electronic devices. In 2009, Lockheed Martin bought Unitech.Template:Citation needed

On November 18, 2010, Lockheed Martin announced that it would be closing its Eagan, MN location by 2013 in order to drive down costs and optimize capacity at their locations nationwide.

In January 2011, Lockheed Martin agreed to pay the US Government $2 million to settle allegations that the company submitted 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.

On May 28, 2011 it was reported that a cyber-attack using 2011 system compromise|previously stolen EMC files had broken through to sensitive materials at the contractor. 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 belli for a traditional act of war.

Organization

Aeronautics

C-130 Hercules.jpg|thumb|[http://en.wikipedia.org/wiki/C-130 Hercules; in production since the 1950s, now as the C-130J] flight test.jpg|thumb|Naval variant of the [http://en.wikipedia.org/wiki/Lockheed Martin F-35 Lightning II] II missile image.jpg|thumb|Submarine launch of a Lockheed Trident missile

• Martin Aeronautics

Electronic Systems

• Martin Canada
• Martin Australia
• Martin Mission Systems and Sensors
• Martin Missiles and Fire Control
• Martin Global Training and Logistics
• Martin Advanced Technology Laboratories
• National Laboratories|Sandia Corporation

Information Systems and Global Solutions

• Lockheed Martin IS&GS-Civil
• Lockheed Martin IS&GS-Defense
• Lockheed Martin IS&GS-National
  • Lockheed Martin Orincon
  • Lockheed Martin STASYS
• Lockheed Martin Technology Ventures

Space

• Martin Space Systems

Others

• Properties
• Martin Aircraft Argentina SA (formerly Fabrica Militar de Aviones)
• Martin Enterprise Business Services
• Martin Finance Corporation
• Martin U.K.
• Architects & Engineers – LockMart owned company

Joint ventures

• Launch Services (with [4], Energia)
• Martin Alenia Tactical Transport Systems (with Aeronautica|Finmeccanica-Alenia, now folded)
• International (with [5] and [6])
• Imaging (46%, remainder public)
• Launch Alliance (with [7])
• Space Alliance (with Boeing)
• Aviation Center (with [8] and plc|Rolls-Royce)
• USV – an unmanned surface vehicle with Advanced Defense Systems and Systems
• Support Services (DS2) (with & Zimmermann) official site
• Lockheed Martin Jv (with Indian company Advanced Systems Limited)

Government contracts

Lockheed Martin is active in many aspects of government contracting. It "received $36 billion in government contracts in 2008 alone, more than any company in history. It now does work for more than two dozen government agencies from the States Department of Defense|Department of Defense and the States Department of Energy|Department of Energy to the States Department of Agriculture|Department of Agriculture and the Protection Agency. It's involved in surveillance and information processing for the [9], the [10], the Revenue Service (IRS), the Security Agency (NSA), the (building)|Pentagon, the States Census Bureau|Census Bureau and the States Postal Service|Postal Service."

Corporate governance

Current members of the board of directors of Lockheed Martin are: Aldridge, Nolan Archibald, Marcus Bennett, O. Ellis, King, Loy, Douglas McCorkindale, Eugene Murphy, Ralston, Frank Savage, Anne Stevens, J. Stevens, James Ukropina and Douglas Yearley.

Lockheed "ranks number one on the 'contractor misconduct' database maintained by the on Government Oversight, a Washington-DC-based watchdog group." Since 1995, the company has agreed to pay $577 million to settle fifty-four instances of misconduct.

Lobbying

The company's 2010 lobbying expenditure by the third quarter was $9.9 million (2009 total: $13.7 million).

Through its political action committee, the company provides low levels of financial support to candidates who advocate national defense and relevant business issues. It is "the top contributor to the incoming Armed Services Committee chairman, Party (United States)|Republican McKeon|Howard P. 'Buck' McKeon of California, giving more than $50,000 in the most recent election cycle. It also tops the list of donors to Sen. Inouye (D-HI), the powerful chair of the Appropriations Committee, and the self-described '#1 [11] guy in the Congress.'"

Lockheed Martin Employees Political Action Committee is one of the 50 most generous PACs 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. For the 2004 election cycle, Lockheed's PAC has already contributed $350,279 to federal candidates, with about 62 percent going to Republicans, according to the Center for Responsive Politics. That compares with $515,000 from General Dynamics' political action committee and $122,850 from BAE Systems North America, the center's data showed.

See also

• contractor – table of comparable companies
• Trophy|Lockheed Martin Maintenance Trophy
• 100 US Federal Contractors – $38.5 billion in FY09

Further reading

• D. Hartung. Prophets of War: Lockheed Martin and the Making of the Military-Industrial Complex. Books, 2010. ISBN 9781568584201.

External links

• Lockheed Martin site
• Prepar3D(R): Visual flight simulation software development kit for computers
• "A Security Analyst Wins Big in Court". Time magazine
• Lockheed Martin page. for Media and Democracy
• "Lockheed Wins Contract to Build NASA's New Spaceship". Washington Post
• Template:Cite web
• "Jury Slaps Defense Giant for Neglecting National Security". ABC News
• "NASA: Mars Surveyor Was Doomed By Humans". CBS News
• "Lockheed Fined Over Secrets Breach". BBC News
• "Coast Guard Failed to Properly Oversee Contracts, Officials Say". Washington Post
• Ceremonial event planned for final F-22 Raptor

companies of the United States based in Bethesda, Maryland listed on the New York Stock Exchange companies of the United States Martin| manufacturers of the United States established in 1995 establishments in the United States

????? Martin Martin Martin Martin Martin Martin Martin ?????? Martin Martin ?? Martin Martin ????? Martin Martin Martin Martin Martin [12] Martin [13] Martin Martin Martin Martin Martin ?????? Martin Martin Martin Martin Martin [14]