Founded in 1995, Lockheed Martin Corporation is a defence, aerospace, security, arms and advanced technologies company. Headquartered in Bethesda, Maryland, this company markets its products and services to almost every part of the world. As of 2020,
Founded in 1995, Lockheed Martin Corporation is a defence, aerospace, security, arms and advanced technologies company. Headquartered in Bethesda, Maryland, this company markets its products and services to almost every part of the world. As of 2020, it has over 110,000 employees working in more than 375 facilities spread across 50 countries. Among its employees, around 58,000 individuals are scientists, engineers and IT professionals.
The company has four core business areas, namely Space, Missiles and Fire Control, Aeronautics and Rotary, and Mission Systems. Under these core categories, it has 13 different offerings, like radar, cyber, aircraft, electronic warfare, weapon systems, integrated air and missile defence, etc. It is also developing advanced technologies such as Hypersonics and Direct Energy. Some of its noteworthy products are Compact Fusion, Cyber Training and Mission Rehearsal, Advanced Technology Laboratories, Aegis Combat System, Airborne Multi-INT Laboratory, C-5 Galaxy, Commercial Aircraft, Exoskeleton Technologies, Future Submarine Program, Focal Plane Arrays, Hydra Fusion Tools, etc.
Though Lockheed Martin was officially established in 1995, its history dates back to 1912 when Glenn L. Martin opened the Glenn L. Martin Company. In 1961, it merged with American-Marietta and formally changed its name to Martin Marietta Corporation. Its other predecessor, Lockheed, was incorporated in 1926 as an aerospace company. In 1994 Martin Marietta and Lockheed started to discuss a potential merger that was completed on 15th March 1995.
After the merger, its first significant acquisition was Loral Corporation in 1996. Following this, it acquired Nantero’s government business unit in 2008, Amor Group in 2013, Beontora AG and Industrial Defender Inc. in 2014, Sikorsky Aircraft in 2015, etc. The company owns a range of different organisations, like Skunk Works, Lockheed Martin Canada, LMC Properties, and SIM Industries, to name a few.
As of 2021, it is a component in the S&P 100 and S&P 500 indices. Lockheed Martin shares trade in the New York Stock Exchange under “LMT” as its ticker symbol. In 2020, Fortune included Lockheed Martin in two of its prestigious lists, namely, Global 500 and World’s Most Admired Companies. It also sealed the 57th spot on the list of Fortune 500 Company in the same year. Forbes too recognized it in eight of its lists in 2020, such as the Best Employers for Veterans, Global 2000, Best Employers for Diversity, Best Employers for New Grads, etc.
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