History of Lockheed Martin

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History of Lockheed Martin

Merger talks between Lockheed Corporation and Martin Marietta began in March 1994, with the

companies announcing their $10 billion planned merger on August 30, 1994. The deal was finalized

on March 15, 1995 when the two companies' shareholders approved the merger. The segments of the

two companies not retained by the new company formed the basis for the present L-3

Communications, a mid-size defense contractor in its own right. Lockheed Martin later spun off the

materials company Martin Marietta Materials. 

Both companies contributed important products to the new portfolio. Lockheed products included

the Trident missile, P-3 Orion, F-16 Fighting Falcon, F-22 Raptor, C-130 Hercules, A-4AR

Fightinghawk and the DSCS-3 satellite. Martin Marietta products included Titan rockets, Sandia

National Laboratories (management contract acquired in 1993), Space Shuttle External Tank, Viking

1 and Viking 2 landers, the Transfer Orbit Stage (under subcontract to Orbital Sciences Corporation) 

and various satellite models.

On April 22, 1996, Lockheed Martin completed the acquisition of Loral Corporation's defense

electronics and system integration businesses for $9.1 billion, the deal having been announced in

January. The remainder of Loral became Loral Space & Communications. 

Lockheed Martin abandoned plans for a $8.3 billion merger with Northrop Grumman on July 16, 1998,

due to government concerns over the potential strength of the new group; Lockheed/Northrop would

have had control of 25% of the Department of Defense's procurement budget.

Lockheed Martin provided NASA with measurements in US Customary force units when metric was

required, resulting in the loss of the Mars Climate Orbiter at a cost of $125 million. The cost for

spacecraft development was $193.1 million.] 

A Lockheed Martin building in Bethesda, Maryland

In May 2001, Lockheed Martin sold Lockheed Martin Control Systems to BAE Systems. On

November 27, 2000, Lockheed completed the sale of its Aerospace Electronic Systems business to

BAE Systems for $1.67 billion, a deal announced in July 2000. This group encompassed SandersAssociates, Fairchild Systems, and Lockheed Martin Space Electronics & Communications.

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In 2001, Lockheed Martin won the contract to build the F-35 Lightning II; this was the largest fighter

aircraft procurement project since the F-16, with an initial order of 3,000 worth some $200 billion

before export orders.

In 2001, Lockheed Martin settled a nine year investigation conducted by NASA's Office of Inspector

General with the assistance of the Defense Contract Audit Agency. The company paid the UnitedStates government $7.1 million based on allegations that its predecessor, Lockheed Engineering

Science Corporation, submitted false lease costs claims to NASA.

On May 12, 2006, The Washington Post  reported that when Robert Stevens took control of Lockheed

Martin in 2004, he faced the dilemma that within 10 years 100,000 of the about 130,000 Lockheed

Martin employees  – more than three-quarters  – would be retiring.

On August 31, 2006, Lockheed Martin won a $3.9 billion contract from NASA to design and build the

CEV capsule, also known as Orion   – the next spacecraft for human flight  – for the Ares I rocket in the

Constellation Program.

On August 13, 2008, Lockheed Martin acquired the government business unit of Nantero, Inc., a

company that had developed methods and processes for incorporating carbon nanotubes in next-

generation electronic devices.

Product profile

A partial listing of aircraft and other vehicles produced by Lockheed.

Airliners and civil transports

  Lockheed Vega

  Lockheed Model 10 Electra

  Lockheed Model 12 Electra Junior

  Lockheed Model 14 Super Electra

  Lockheed Lodestar

  Lockheed Constellation, famous airliner

  Lockheed L-1649A Starliner, last model of the Lockheed Constellation

  Lockheed Saturn

  L-188 Electra

  Lockheed JetStar, business jet

  L-1011 TriStar, wide-body airline.

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The Lockheed L-1011 TriStar, commonly referred to as just L-1011 (pronounced "ell-ten-eleven") or

TriStar, is a medium-to-long range, widebody passenger trijet airliner. It was the third widebody

airliner to enter commercial operations,

Military transports 

  C-69 /C-121, military transport versions of the Constellation

  Lockheed R6V Constitution, large transport aircraft

  C-130 Hercules, medium combat transport (AC-130 gunship) (other variants) 

  C-141 Starlifter, long-range jet transport

  C-5 Galaxy, heavy transport

The Lockheed C-5 Galaxy is a large military transport aircraft built by Lockheed. It was designed to

provide strategic heavy airlift over intercontinental distances and to carry outsize and oversize cargo. 

The C-5 Galaxy has been operated

Fighters

  P-38 Lightning, twin-engine propeller fighter

  P-80 Shooting Star, the United States Air Force's first operational jet fighter

  T-33 Shooting Star, trainer jet

  F-94 Starfire, all-weather fighter

  F-104 Starfighter, multi-mission fighter, the "missile with a man in it"

  F-117 Nighthawk, "stealth fighter" attack aircraft

  F-16 Fighting Falcon, multirole fighter (Originally General Dynamics) 

  F-22 Raptor, air superiority stealth fighter

The Lockheed Martin/Boeing F-22 Raptor is a single-seat, twin-engine fifth-

generation supermaneuverable fighter aircraft that uses stealth technology. It was designed primarily

as an air superiority fighter, but has additional capabilities that include ground attack, electronic

warfare, and signals intelligence roles.[6]

Lockheed Martin Aeronautics is the prime contractor and is

responsible for the majority of the airframe, weapon systems and final assembly of the F-22. Program

partner Boeing Defense, Space & Security provides the wings, aft fuselage, avionics integration, and

all of the pilot and maintenance training systems.

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Patrol and reconnaissance

  Lockheed Hudson, maritime patrol/bomber

  PV-1 Ventura and PV-2 Harpoon, Maritime patrol/bomber

  P-2 Neptune, maritime patrol

  P-3 Orion, ASW patrol

  Lockheed U-2, reconnaissance (TR-1)

  SR-71 Blackbird, reconnaissance (A-12) (M-21) (YF-12) 

  S-3 Viking, patrol/attack

  YO-3A Quiet Star

Missiles

  Polaris

  Poseidon

  Trident

Space technology 

  X-7

  X-17

  L-301

  Corona

  Agena

  Apollo Launch Escape System

  Hubble Space Telescope

Sea vessels

  Sea Shadow  

Market share

At January 31, 2011, we had 36,328 holders of record of our common stock, par value $1 per share. Our

common stock is traded

on the New York Stock Exchange (NYSE) under the symbol LMT. Information concerning the stock prices based

on intra-day trading

prices as reported on the NYSE composite transaction tape and dividends paid during the past two years is as

follows:

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Common Stock – Dividends Paid Per Share and Market Prices

Dividends Paid Per Share Market Prices (High-Low)

Quarter 2010 2009 2010 2009

First $ .63 $ .57 $ 87.18 – $73.61 $ 85.90 – $57.41

Second $ .63 $ .57 $87.06 – 74.36 $87.06 – 65.21

Third $ .63 $.57 $76.34 –

68.19 $ 82.92 –

72.20

Fourth$ $ .75 $.63 $73.70 – 67.68 $79.65 – 67.39

Year $ 2.64 $ 2.34 $ 87.18 – $67.68 $ 87.06 – $57.4

Organization 

Our corporation, headquartered in Bethesda, Md., is organized around our core business

areas - Aeronautics, Electronic Systems, Information Systems & Global Solutions, andSpace Systems.

  Enterprise Operations  LMC Properties, Inc.  Lockheed Martin UK (United Kingdom)  Advanced Technology Laboratories  Center For Innovation

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Aeronautics Business Area 

Aeronautics - Lockheed Martin Aeronautics Company is known for building

the finest military aircraft in the world. This recognition was earned through

relentless research and development of high-performance aircraft and by

continuously seeking innovative and low-cost design and manufacturingstrategies.

Electronic Systems Business Area 

Lockheed Martin Canada - Lockheed Martin Canada is a highly diversifiedglobal enterprise principally engaged in the research, design, manufacture and

integration of advanced-technology products. The company is a leader in

systems integration, software development and large scale program

management, and is Canada's premier supplier of electronic defence and

surveillance systems. Primary capabilities encompass the integration and

management of complex computer-based electronic systems; the design,

manufacture and supply of military-standard computers and electronic

warfare, sonar and security systems; and the provision of life cycle support for

major platforms.

MS2 - MS2 provides surface, air and undersea applications on more than 460

programs for U.S. military and international customers. The same expertise we

provide to military customers is being applied to increase capabilities of U.S.

and international civilian agencies. Our vision for MS2 is to set performance

standards for our customers worldwide, every day with the best people, best

systems, and best services.

Missiles & Fire Control  - Missiles and Fire Control develops, manufactures and

supports advanced combat, missile, rocket and space systems for customers

that include the U.S. Army, Navy, Air Force and Marine Corps, NASA; and

dozens of foreign nations. We have four principle product categories that

correspond to vital capabilities we provide our warfighters in their defining

moments.

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Global Training and Logistics - Lockheed Martin Global Training and Logistics is

the leading supplier of training and logistics solutions. From our manufacturing

facility in La Mesa, Mexico to our training schoolhouses world-wide, our story

is one of diversity, technology, solutions and flawless execution.

Sandia Corporation (Sandia National Laboratory) - Sandia is a government-

owned/contractor operated (GOCO) facility. Sandia Corporation, a Lockheed

Martin company, manages Sandia for the U.S. Department of Energy's

National Nuclear Security Administration. We seek collaborative partnerships

on emerging technologies that support our mission.

Information Systems & Global Solutions Business Area 

Information Systems & Global Solutions  - Comprised of 40,000 highly skilled

professionals, Lockheed Martin Information Systems & Global Solutions

(IS&GS) brings together the full range of Lockheed Martin's information

competencies with an expansive global delivery capability. With more than

$10 billion in sales, IS&GS is a leading federal services and InformationTechnology contractor with a strong heritage of delivering world-class

solutions and delivering advanced technology across a broad spectrum of 

domains. IS&GS is organized into three reporting units: Mission Solutions,

Information Systems and Global Solutions.

Space Systems Business Area 

Space Systems - Space is a demanding environment. But with systems built byLockheed Martin, space is where the future takes flight, through partnerships

that raise global communications, weather forecasting, space exploration and

national security to new levels. Delivering vital space capabilities is all a

question of how. And it is the how that makes all the difference.

Joint Ventures:

  United Launch Alliance  United Space Alliance

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