A Brief on World’s Leading Security, Aerospace, and Information Technology Company
How Lockheed Martin Helpful to US Military:
Lockheed Martin is one of the largest defense contractors in the world, especially to the US government and military. In fact, 74% of its revenue comes from sales to US and foreign militaries, with 7.1% of its funding coming directly from the Pentagon. The company was founded in 1995 in Bethesda, Maryland and in a short span of time, has grown to become the global supplier of aerospace, defense, and advanced technology that we know today. It was initially formed through the merger of Lockheed Corporation and Martin Marietta.
Lockheed Martin is publicly traded on the New York Stock Exchange and listed on the S&P 500 Component. It employs around 123,000 people worldwide and brings in an estimated $46.499 billion in annual revenue, including $2.655 billion in profit. The five business divisions of Lockheed Martin includes: Aeronautics, Information Systems & Global Solutions, Missile and Fire Control, Mission Systems and Training, and Space Systems. US government contracts account for around $38.4 billion of 85% of the company’s business, with $5.8 billion coming from foreign governments, and $900 million, or a mere 2%, coming from commercial contracts. Lockheed Martin is one of the top on the list of Top US Federal Contractors. In fact, Lockheed Martin has received the Collier Trophy 6 times, most notably for its development of the F-22 Raptor and the F-35 Lightning II, which is the next generation fighter supporting all branches of the US military today.