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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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Top Lockheed Martin Corp. Articles

Displaying items 111-121
  • The day ahead in business

    The day ahead in business
    Reports: June Consumer Price Index, ICSC-Goldman Sachs, June existing home sales, FHFA home price index for May, Richmond Fed Index for July, ICSC-Goldman Sachs and Redbook retail sales for period ending July 19 Local earnings: Discover Financial...
  • Lockheed profit tops forecast; Orlando results mixed

    Lockheed profit tops forecast; Orlando results mixed
    Despite a small drop in sales, Lockheed Martin Corp.'s big aircraft contracts helped it post a higher second-quarter profit that topped Wall Street's forecast, the company said Tuesday. The defense giant, based in Bethesda, Md., earned $880 million, up...
  • California grants $420-million tax break to Lockheed Martin Corp.

    The Legislature went home for a month Thursday, but not before handing aerospace giant Lockheed Martin Corp. a controversial $420-million tax break. Branded as a sweetheart deal for Lockheed, the bill sailed through the Assembly and Senate — but...
  • Gov. Brown approves Lockheed-Boeing tax-credit offer

    Gov. Brown approves Lockheed-Boeing tax-credit offer
    Gov. Jerry Brown on Thursday put the finishing touch on a deal crafted with lawmakers to give aerospace giant Lockheed Martin Corp. a $420-million tax break if it helps build new stealth bombers in California. Brown signed into law a bill by two...
  • Pentagon Official: F-35 Engine Failure Likely Not Systemic

    Pentagon Official: F-35 Engine Failure Likely Not Systemic
    RAF FAIRFORD, England — The Pentagon's chief weapons buyer told lawmakers there was "growing evidence" that an engine fire on an Air Force F-35A jet last month was not a systemic issue, which sources familiar with the situation said could pave the...
  • SpaceX gets Air Force certification toward launching military satellites

    SpaceX gets Air Force certification toward launching military satellites
    Hawthorne rocket company SpaceX has reached a major milestone toward its goal to launch the U.S. government's most sophisticated national security satellites. The upstart firm announced Friday that the Air Force certified its Falcon 9 rocket after...
  • Tesla tax break for building battery factory buried in aerospace bill

    Tesla tax break for building battery factory buried in aerospace bill
    Gov. Jerry Brown has quietly approved a potential property tax break for electric car maker Tesla Motors Inc. in hopes of enticing the high-tech, Palo Alto company to build a giant battery factory in California. The potential savings is buried in...
  • To keep 'Hollywood' in Hollywood, tax incentives are key

     To keep 'Hollywood' in Hollywood, tax incentives are key
    Sacramento raced this month to approve a $420-million tax break for one company — Lockheed Martin. In almost the same breath, the governor and legislative leaders pledged to give a similar credit to its aerospace rival Northrop Grumman. Their...
  • Air Force certifies SpaceX Falcon 9 flights

    Air Force certifies SpaceX Falcon 9 flights
    In a move that could shake up the spaceflight business, Hawthorne rocket company SpaceX has passed a key milestone toward its goal to launch the U.S. government's most sophisticated national security satellites. The upstart firm said Friday that the Air...
  • Newcomers gain traction in race for NASA's new spacecraft deal

    Newcomers gain traction in race for NASA's new spacecraft deal
    An established aerospace giant and two newcomers are in the final stretch of a competition to build the next "taxi service" to the International Space Station, and experts say the upstarts are gaining traction. Boeing Co., SpaceX and Sierra Nevada Corp....
  • Military's pricey F-35 fighter jet catches fire during takeoff in Florida

    Military's pricey F-35 fighter jet catches fire during takeoff in Florida
    A fire broke out on a F-35 Joint Strike Fighter after an attempted takeoff at Eglin Air Force Base in Florida. The radar-evading, supersonic fighter jet, a nearly $400-billion weapons program under development for more than a decade, experienced the...