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Lockheed Martin Corp.

Lockheed Martin Corp.
Lockheed Martin Corp. is the nation's largest defense contractor. Lockheed Martin employs nearly 11,000 employees, more than half of them (6,500) in metro Orlando, where it is Central Florida's largest industrial employer.

Lockheed Martin produces some of the most sophisticated military hardware in the world at its Orlando operations, which include the following (in order of size): Lockheed Martin Missiles & Fire Control; Lockheed Martin Simulation, Training & Support; and Lockheed Martin Enterprise Information Systems. The missiles unit is known worldwide for its production of guided missiles, weapons targeting and aircraft night-vision navigation systems. The simulation division i...
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Lockheed Martin Corp. is the nation's largest defense contractor. Lockheed Martin employs nearly 11,000 employees, more than half of them (6,500) in metro Orlando, where it is Central Florida's largest industrial employer.

Lockheed Martin produces some of the most sophisticated military hardware in the world at its Orlando operations, which include the following (in order of size): Lockheed Martin Missiles & Fire Control; Lockheed Martin Simulation, Training & Support; and Lockheed Martin Enterprise Information Systems. The missiles unit is known worldwide for its production of guided missiles, weapons targeting and aircraft night-vision navigation systems. The simulation division is a global player in high-tech training systems for air and ground combat forces and commanders. The enterprise unit is Lockheed's computer tech services operation for the entire corporation.

Nationwide, the Bethesda, Md.-based company is known for producing military aircraft, missiles, rockets, advanced electronics, satellites and NASA systems (including production of the space shuttle's external fuel tank). Lockheed posted more than $2.5 billion in profit on sales of nearly $40 billion in 2006. It has 140,000 employees worldwide, including New York, Texas, Florida, California and other major states.

Lockheed Martin formed in 1995 from the merger of Lockheed Corp. and Martin Marietta Corp., during an era of dramatic consolidation in the defense industry after the end of the Cold War with the former Soviet Union. Prior to the Lockheed Martin merger, Lockheed was based in Calabasas, CA., and Martin was based in Bethesda. Martin Marietta's predecessor --The Glenn Martin Co.-- opened a missiles factory in Orlando in 1957, creating 2,700 jobs in what was then just a citrus town.
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  • Cost to buy F-35 up 2 percent; to operate down 9 percent: Pentagon

    WASHINGTON (Reuters) - The Pentagon on Thursday forecast the cost of developing and buying Lockheed Martin Corp's F-35 fighter jet at $398.6 billion, up 2 percent from last year, but said the projected cost to operate and maintain the jets was down about 9 percent.
  • Two U.S. arms programs face live-or-die reviews after costs jump

    WASHINGTON (Reuters) - An unmanned U.S. Navy helicopter built by Northrop Grumman Corp and a precision ship-landing system built by Raytheon Co face mandatory reviews that could lead to their cancellation after quantity reductions drove unit costs sharply...

    F-35 fighter jet to make first trans-Atlantic flight in July

    WASHINGTON (Reuters) - The U.S. Defense Department has approved the first trans-Atlantic flight of Lockheed Martin Corp's F-35 fighter jet in July to take part in two international air shows near London, U.S. and British officials said Wednesday. The new...

    Pentagon says automatic budget cuts would hit F-35, other weapons

    WASHINGTON (Reuters) - The Pentagon on Tuesday detailed $48.3 billion in cuts to major weapons programs like Lockheed Martin Corp's F-35 fighter jet that would kick in from fiscal 2016 to 2019 if Congress does not reverse automatic budget cuts that are to...

    Space entrepreneur seeks end to spy satellite launch monopoly

     Space entrepreneur seeks end to spy satellite launch monopoly
    A high-stakes battle is underway in Washington over launching the U.S. government's most sophisticated national security satellites. Space entrepreneur Elon Musk is pitted against the nation's two largest weapons makers, Boeing Co. and Lockheed Martin...