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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 121-132
  • Lockheed earnings increase 23% in first quarter

    Lockheed earnings increase 23% in first quarter
    Despite lower overall revenue, defense giant Lockheed Martin Corp. easily topped Wall Street's profit expectations in the first quarter, the company said Tuesday. The nation's largest defense contractor earned $933 million, or $2.87 a share, in the...
  • Plan For Presidential Helicopters Hopes To Escape Past Procurement Problems

    Plan For Presidential Helicopters Hopes To Escape Past Procurement Problems
    WASHINGTON — The last time the Pentagon tried to upgrade the president's coolest ride — the fleet of helicopters that drop him at his doorstep on the South Lawn of the White House — it didn't go well. Costs doubled. Delays sparked...
  • Lockheed Martin takes children to work

    Lockheed Martin takes children to work
    It’s not every day that people can play a life-sized Angry Birds game on the front lawn at the Lockheed Martin Missiles and Fire Control plant. In the name of Take Your Child to Work Day, access to the plant was broadened on Thursday for a brief...
  • Aerojet Rocketdyne to lay off about 150 workers in Canoga Park

    Aerojet Rocketdyne to lay off about 150 workers in Canoga Park
    About 150 employees at rocket engine maker Aerojet Rocketdyne in Canoga Park were told Wednesday that they would be laid off as part of a companywide reduction that the company says is related to last year's merger. Aerojet Rocketdyne was created by the...
  • Chicago picked as site for Obama's manufacturing initiative

    Chicago picked as site for Obama's manufacturing initiative
    Chicago will be the site of a digital manufacturing institute backed by $70 million in federal money and another $250 million in private and other government funding, giving the city, once a factory town, a better chance to re-establish its credentials as...
  • U.S. Navy adds 2nd sub-hunting plane to search for Malaysian jetliner

    U.S. Navy adds 2nd sub-hunting plane to search for Malaysian jetliner
    The Navy is adding another advanced submarine-hunting aircraft to its effort to find debris from missing Malaysia Airlines Flight 370. A second P-8 Poseidon will replace an older P-3 Orion in the 30,000-square-mile search area in the rough waters of the...
  • Military weather satellite set for launch from Vandenberg base

    Military weather satellite set for launch from Vandenberg base
    For more than 15 years, a $518-million military weather satellite sat in a clean room at Lockheed Martin Corp.'s facility in Sunnyvale waiting for the day it would be launched into orbit from Vandenberg Air Force Base. On Thursday morning, the...
  • AeroVironment profit nearly triples in third quarter

    AeroVironment profit nearly triples in third quarter
    Boosted by sales of its small drones, Monrovia company AeroVironment Inc. reported that its third-quarter earnings nearly tripled, sending its stock up in after-hours trading. At one point, shares of AeroVironment were up $1.81, or 5.7%, to $33.55 on...
  • Lockheed reels in foreign military sales to Saudi Arabia, Iraq

    Lockheed reels in foreign military sales to Saudi Arabia, Iraq
    Lockheed Martin Corp.'s Orlando operations have received two U.S.-sponsored foreign military deals worth a total of almost $50 million to provide weapons systems and support to Iraq and Saudi Arabia, according to Department of Defense figures. Orlando-...
  • White House seeks halt to military spending cuts

    White House seeks halt to military spending cuts
    WASHINGTON — The Obama administration called for a halt in reducing military spending, arguing that further cuts would result in a significantly smaller Army and Marine Corps, the mothballing of airplanes and an aircraft carrier, and the purchase of...
  • Bob Hope Airport sees more passenger traffic

    The number of passengers making their way through Bob Hope Airport in January climbed 3% from the same time a year ago, marking the second straight month of increases following a six-month string of declines, according to the latest passenger report. The...
  • Bob Hope Airport sees slight decline in passengers

    Bob Hope Airport sees slight decline in passengers
    After a two-month boost in passengers at Bob Hope Airport, there was a 1.3% decline in February compared to the same time last year, though the percentage of occupied seats on planes grew, according to the latest passenger report. The airfield handled...