Lockheed Martin Corporation
NYSE:LMT
$ 455.25
+ $1.85 (0.43%)
$ 455.25
+ $1.85 (0.43%)
Real-time: 03/28/2024 11:09

Lockheed Martin Stock

About Lockheed Martin

Lockheed Martin Corporation operates as a global security and aerospace company. The company principally engages in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The company also provides a broad range of management, engineering, technical, scientific, logistics, system integration and cybersecurity services. The company’s main areas of focus are in defense, space, intelligence, homeland security and information technology, including cybersecurity. The company serves both the U.S. and international customers with products and services that have defense, civil and commercial applications, with its principal customers being agencies of the U.S. Government. Lockheed Martin share price history

The company operates in a complex and evolving global security environment. The company’s strategy consists of the design and development of platforms and systems that meet the current needs of its customers and the future requirements of 21st Century Security. The company focuses on four elements for potential growth in the near to mid-term: current programs of record, classified programs, hypersonics and new awards. The company has multiple programs of record from each business segment that are entering growth stages, including the F-35 sustainment activity (Aeronautics); increased Patriot Advanced Capability-3 (PAC-3) production rates and increased demand for High Mobility Artillery Rocket System (HIMARS) and Guided Multiple Launch Rocket Systems (GMLRS) (Missiles and Fire Control); radar surveillance systems and CH-53K King Stallion heavy lift helicopter (Rotary and Mission Systems); and the modernization and enhancements to the Trident II D5 Fleet Ballistic Missile (FBM) (Space). The company is performing on multiple hypersonics programs and following the successful completion of ongoing testing and evaluation activity, multiple programs are expected to enter early production phases through 2026.

Key to enabling success of the company’s strategy is developing differentiating technologies, forging strategic partnerships, including with commercial companies, executing on its multi-year business transformation initiative to enhance its digital infrastructure and increase efficiencies and collaboration throughout its business and maintaining fiscal discipline.

Segments

The company operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS) and Space.

Aeronautics Lockheed Martin share price history

Aeronautics engages in the research, design, development, manufacture, integration, sustainment, support and upgrade of advanced military aircraft, including combat and air mobility aircraft, unmanned air vehicles and related technologies. Aeronautics also has contracts with the U.S. Government for various classified programs. Aeronautics’ major programs include:

F-35 Lightning II - international multi-role, multi-variant, fifth generation stealth fighter;

C-130 Hercules - international tactical airlifter;

F-16 Fighting Falcon - combat-proven, international multi-role fighter; and

F-22 Raptor - air dominance and multi-role fifth generation stealth fighter.

The F-35 program is the company’s largest program, generating 26% of its total consolidated net sales, as well as 64% of Aeronautics’ net sales in 2023. The F-35 program consists of multiple development, production and sustainment contracts. Development focuses on modernization of F-35’s capability and addressing emerging threats. Sustainment provides logistics and training support for the aircraft delivered to F-35 customers.

In addition to the aircraft programs, Aeronautics is involved in advanced development programs incorporating innovative design and rapid prototype applications. The company’s Advanced Development Programs (ADP) organization, also known as Skunk Works, focuses on future systems, including unmanned and manned aerial systems and next generation capabilities for air dominance, hypersonics, intelligence, surveillance, reconnaissance, situational awareness and air mobility. The company continues to explore technology advancement and insertion into its existing aircraft. The company involves in numerous network-enabled activities that allow separate systems to work together to increase effectiveness and it continues to invest in new technologies to maintain and enhance competitiveness in military aircraft design, development and production.

Missiles and Fire Control

MFC provides air and missile defense systems; tactical missiles and air-to-ground precision strike weapon systems; logistics; fire control systems; mission operations support, readiness, engineering support and integration services; manned and unmanned ground vehicles; and energy management solutions. MFC also has contracts with the U.S. Government for various classified programs. MFC’s major programs include:

The Patriot Advanced Capability-3 (PAC-3) and Terminal High Altitude Area Defense (THAAD) air and missile defense programs. PAC-3 is an advanced defensive missile for the U.S. Army and international customers designed to intercept and eliminate incoming airborne threats using kinetic energy. THAAD is a transportable defensive missile system for the U.S. Government and international customers designed to engage targets both within and outside of the Earth’s atmosphere.

The Multiple Launch Rocket System (MLRS), Precision Strike Missile (PrSM), Joint Air-to-Surface Standoff Missile (JASSM), Long Range Anti-Ship Missile (LRASM), and Hellfire tactical and strike missile programs. MLRS is a highly mobile, automatic system that fires surface-to-surface rockets and missiles from the M270 and High Mobility Artillery Rocket System (HIMARS) platforms produced for the U.S. Army and international customers and PrSM is the next generation of precision strike surface-to-surface weapon systems that is compatible with the MLRS family of launchers in support of the U.S. Army. JASSM is an air-to-ground missile launched from fixed-wing aircraft, which is produced for the U.S. Air Force and international customers. LRASM is a precision guided anti-ship missile derived from JASSM and designed to interdict a variety of surface threats at very long range and produced for the U.S. Air Force, the U.S. Navy, and international customers. Hellfire is an air-to-ground missile used on rotary and fixed-wing aircraft, which is produced for the U.S. Army, Navy, Marine Corps and international customers.

The Apache fire control system, Sniper Advanced Targeting Pod (SNIPER) and Infrared Search and Track (IRST21) sensors and global sustainment programs. The Apache fire control system provides weapons-targeting capability for the Apache helicopter for the U.S. Army and international customers. SNIPER is a targeting system for several fixed-wing aircraft and is produced for the U.S. Air Force and international customers. IRST21 provides long-range infrared detection and tracking of airborne threats and is used on several fixed-wing aircraft. IRST21 is produced for the U.S. Air Force, the U.S. Navy, the National Guard and international customers.

The Special Operations Forces Global Logistics Support Services (SOF GLSS) program, which provides logistics support services to the special operations forces of the U.S. military.

Hypersonics programs, which include several programs with the U.S. Air Force and the U.S. Army to design, develop and build hypersonic strike weapons.

The Javelin program, which is a one-person portable and platform-employable anti-tank and multi-target precision weapon system. Javelin was developed and is produced for the U.S. Army and the U.S. Marine Corps by a joint venture between the company and RTX Corporation.

Rotary and Mission Systems

RMS designs, manufactures, services and supports various military and commercial helicopters, surface ships, sea and land-based missile defense systems, radar systems, laser systems, sea and air-based mission and combat systems, command and control mission solutions, cyber solutions, and simulation and training solutions. RMS also has contracts with the U.S. Government for various classified programs. RMS’ major programs include:

Sikorsky helicopter programs such as those related to the BLACK HAWK, Seahawk and CH-53K King Stallion heavy lift helicopters which are in service with the U.S. and foreign governments, the Combat Rescue Helicopter (CRH) utilized by the U.S. Air Force, and the VH-92A helicopter for the U.S. Marine One transport mission.

Integrated warfare systems and sensors (IWSS) programs, such as Aegis Combat System (Aegis) programs that serve as an air and missile defense system for the U.S. Navy and international customers and is also a sea and land-based element of the U.S. missile defense system, and the Littoral Combat Ship (LCS) and Multi-Mission Surface Combatant (MMSC) programs to provide surface combatant ships for the U.S. Navy and international customers that are designed to operate in shallow waters and the open ocean.

Command, control, communications, computers, cyber, combat systems, intelligence, surveillance, and reconnaissance (C6ISR) programs such as the Command, Control, Battle Management and Communications (C2BMC) program to provide an air operations center for the Ballistic Missile Defense System for the U.S. Government, undersea combat systems programs largely serving the U.S. Navy, and Australia's Joint Air Battle Management System (AIR 6500).

Training and logistics solutions (TLS) programs such as those providing sustainment services and programs that provide simulators and associated training to the U.S. military and foreign government customers.

Space

Space engages in the research and design, development, engineering and production of satellites, space transportation systems, and strategic, advanced strike, and defensive systems. Space provides network-enabled situational awareness and integrates complex space and ground global systems to help the company’s customers gather, analyze and securely distribute critical intelligence data. Space is also responsible for various classified systems and services in support of vital national security systems. Space’s major programs include:

The Next Generation Overhead Persistent Infrared (Next Gen OPIR) system, which provides the U.S. Space Force with enhanced worldwide missile warning capabilities.

The Trident II D5 Fleet Ballistic Missile (FBM), a program with the U.S. Navy for the only submarine-launched intercontinental ballistic missile in production in the U.S.

The Orion Multi-Purpose Crew Vehicle (Orion), a spacecraft for NASA utilizing new technology for human exploration missions beyond low earth orbit.

Next Generation Interceptor (NGI), a program with the Missile Defense Agency (MDA) utilizing next generation propulsion and sensors to provide homeland missile defense.

Global Positioning System (GPS) III, a program to modernize the GPS satellite system for the U.S. Space Force.

Hypersonics programs, which include several programs with the U.S. Army and the U.S. Navy to design, develop and build hypersonic strike weapons.

The Transport Layer program, a small satellite program designed to support resilient space communications for the Space Development Agency.

Research and Development

The company-funded research and development costs were $1.5 billion in 2023.

Competition

The company competes with many different companies in the defense and aerospace industry. The Boeing Company, General Dynamics, L3Harris Technologies, Northrop Grumman, and RTX Corporation are some of the company’s primary competitors.

Regulatory Matters

The company contracts with numerous the U.S. Government agencies and entities, principally all branches of the U.S. military and NASA. The company also contracts with similar government authorities in other countries, either under the foreign military sales (FMS) program, contracted through the U.S. Government, or as a direct sale with the foreign government authority, which regulates these sales in a manner similar to the U.S. Government.

There is an increasing global regulatory focus on greenhouse gas (GHG) emissions and their potential impacts relating to climate change. Various jurisdictions around the world in which the company operates, including the U.S., the European Union, the United Kingdom, Australia and certain the U.S. States, have adopted or proposed laws related to climate and sustainability reporting.

The company’s businesses and operations are subject to both the U.S. and non-U.S. government laws, regulations and procurement policies and practices, including regulations relating to product testing, import-export controls, technology transfer restrictions, foreign investment, tariffs, taxation, repatriation of earnings, sanctions, exchange controls, the Foreign Corrupt Practices Act and other anti-corruption laws and anti-boycott provisions of the U.S. Export Control Reform Act of 2018.

History

Lockheed Martin Corporation was founded in 1912. The company was incorporated in 1994.

Country
Founded:
1912
IPO Date:
01/02/1968
ISIN Number:
I_US5398301094

Contact Details

Address:
6801 Rockledge Drive, Bethesda, Maryland, 20817, United States
Phone Number
301 897 6000

Key Executives

CEO:
Taiclet, James
CFO
Malave, Jesus
COO:
St. John, Frank