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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 34-44
  • 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...
  • Passenger figures decline at Bob Hope Airport

    Passenger figures decline at Bob Hope Airport
    The number of passengers at Bob Hope Airport declined 1.5% in April, and parking revenues, while they did rise, didn't grow enough to meet budget projections, according to the latest statistics. There were 325,839 passengers in April, compared to 330,...
  • Navy plan for carrier-based drones takes flak from lawmakers

    Navy plan for carrier-based drones takes flak from lawmakers
    A U.S. Navy plan for aircraft carrier-based drones has launched a dogfight in Washington over the role of the robotic planes in combat. The Navy has asked contractors for reconnaissance drones — essentially spy planes, with only limited ability to...
  • Lockheed Martin to pull employees out of Iraq over safety concerns

    Lockheed Martin to pull employees out of Iraq over safety concerns
    Global defense and security company Lockheed Martin announced plans Thursday to evacuate all employees from the Balad area in northern Iraq due to concerns for their safety with escalating violence in the region, officials confirmed. “We are fully...
  • Bob Hope Airport OKs balanced budget

    Bob Hope Airport OKs balanced budget
    Bob Hope Airport officials on Monday approved a balanced budget for next fiscal year even though revenues are projected to remain relatively flat — and they didn't have to raise airline landing fees. In the past few years, officials have taken...
  • Northrop Grumman facility latest addition to Maryland space industry

    Northrop Grumman facility latest addition to Maryland space industry
    Northrop Grumman broke ground Monday on a 25,00-square-foot facility specializing in cargo bound for space, the latest expansion to Maryland's slowly growing space industry. The $20 million center near Baltimore-Washington International Thurgood Marshall...
  • 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...
  • F-35 fighter jets to resume flights after fire led to grounding

    F-35 fighter jets to resume flights after fire led to grounding
    A fleet of F-35 Joint Strike Fighter jets is expected to return to regular flight operations at Eglin Air Force Base in Florida after being grounded because of a fire this week. All F-35 flight operations for the Air Force at the base had been...
  • Assembly approves tax credits for aerospace industry

    Assembly approves tax credits for aerospace industry
    The California Assembly on Thursday approved a fast-tracked proposal to provide up to $420 million in tax breaks over 15 years for the aerospace industry. The bill by Assemblyman Steve Fox (D-Palmdale) would offer credits for an "advanced strategic...
  • U.S. military grounds all F-35 jets after fire at Florida base

    U.S. military grounds all F-35 jets after fire at Florida base
    In the latest setback for the Pentagon’s nearly $400-billion F-35 Joint Strike Fighter program, the U.S. military has grounded all of the fighter jets from flight operations after one of them caught fire at Eglin Air Force Base in Florida earlier...