Lockheed Martin
Lockheed Martin is an American global aerospace, defense, security, and advanced technologies company with its headquarters in Bethesda, Maryland. It was formed by the merger of Lockheed Corporation with Martin Marietta in March 1995. Here is an overview of its history, operations, and significance:
History
- Founding: The company's roots can be traced back to the early 20th century with the establishment of both Lockheed Aircraft Company in 1926 by Allan Lockheed and his brother Malcolm Loughead, and Glenn L. Martin Company in 1912.
- Merger: In 1995, Lockheed Corporation merged with Martin Marietta to form Lockheed Martin. This merger was part of a wave of consolidations in the defense industry following the end of the Cold War, aiming to reduce costs and increase efficiency.
- Growth: Over the years, Lockheed Martin has grown through acquisitions, including the purchase of General Dynamics' F-16 program in 1993, and later acquisitions like Sikorsky Aircraft in 2015.
Operations
Lockheed Martin operates in several key sectors:
- Aeronautics: This division focuses on the design, development, and production of military aircraft like the F-35 Lightning II, F-16 Fighting Falcon, and the C-130 Hercules.
- Missiles and Fire Control: Produces missile systems, missile defense systems, and fire control systems for both military and commercial use.
- Rotary and Mission Systems: Encompasses Sikorsky helicopters, naval systems, and advanced radar systems.
- Space: Engages in satellite technology, space exploration, and national security space programs. Notable projects include the Atlas V rocket, the Space Shuttle external tank, and participation in the International Space Station.
Significance
- Major Defense Contractor: Lockheed Martin is one of the largest defense contractors globally, with a significant portion of its revenue coming from the U.S. Department of Defense.
- Technological Innovation: The company is known for its advancements in stealth technology, unmanned systems, cybersecurity, and space exploration.
- Economic Impact: Its operations have a substantial economic impact through job creation, technological innovation, and its role in national defense.
Controversies
- Cost Overruns: Lockheed Martin has faced criticism for cost overruns on major programs like the F-35.
- Environmental Concerns: The company has been involved in environmental cleanups due to past pollution, especially related to its former operations in Burbank, California.
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