Last $178.99 USD
Change Today -1.75 / -0.97%
Volume 1.1M
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lockheed martin corp (LMT) Snapshot

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09/19/14 - $181.22
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Current Stock Chart for LOCKHEED MARTIN CORP (LMT)

lockheed martin corp (LMT) Details

Lockheed Martin Corporation, a security and aerospace company, is engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems, products, and services for defense, civil, and commercial applications in United States and internationally. It also provides management, engineering, technical, scientific, logistic, and information services. The company operates in five segments: Aeronautics, Information Systems & Global Solutions, Missiles and Fire Control, Mission Systems and Training, and Space Systems. The Aeronautics segment offers military aircrafts, such as combat and air mobility aircrafts, unmanned air vehicles, and related technologies. The Information Systems & Global Solutions segment provides advanced technology systems and expertise, integrated information technology solutions, and management services for civil, defense, intelligence, and other government customers. The Missiles and Fire Control segment offers air and missile defense systems; tactical missiles and air-to-ground precision strike weapon systems; logistics and other technical services; fire control systems; mission operations support, readiness, engineering support, and integration services; and manned and unmanned ground vehicles. The Mission Systems and Training segment provides ship and submarine mission and combat systems; mission systems and sensors for rotary and fixed-wing aircraft; sea and land-based missile defense systems; radar systems; littoral combat ships; simulation and training services; and unmanned systems and technologies. The company was founded in 1909 and is headquartered in Bethesda, Maryland.

115,000 Employees
Last Reported Date: 02/14/14
Founded in 1909

lockheed martin corp (LMT) Top Compensated Officers

Executive Chairman, Chief Executive Officer, ...
Total Annual Compensation: $1.4M
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $838.6K
Senior Vice President, General Counsel and Co...
Total Annual Compensation: $668.3K
Executive Vice President of Information Syste...
Total Annual Compensation: $593.8K
Compensation as of Fiscal Year 2013.

lockheed martin corp (LMT) Key Developments

Lockheed Martin Plans 58 Layoffs in Bucks County

Lockheed Martin Corporation issued notices that detail plans to layoff 58 employees at its Newtown, Pa., facility. The notices show that 35 people will be laid off on October 31, 2014 and another 23 will be laid off on November 14, 2014. Lockheed is closing the 460,514-square-foot facility by the middle of next year, which will mean 1,050 employees would be out of work or transferred elsewhere. Many have been offered the opportunity to relocate to Lockheed Martin Space Systems Co. in Denver (where its commercial and military satellite work will happen going forward.) Others are being offered outplacement services. The company has plans to sell the property for $30 million. It contains office, lab and high-tech manufacturing space in a series of buildings.

Lockheed Martin Wins $18 Million Contract

The battle command system used by the Marines to manage and monitor airborne platforms, including fighters, bombers, tankers, unmanned aerial vehicles, and helicopters, will be maintained by Lockheed Martin. Under a contract worth approximately $18 million, the company will upgrade and sustain the USMC's Virtualized Theater Battle Management Core Systems (TBMCS), which interfaces with Joint Services and Coalition systems to enable synchronized air mission planning for all arms of the military. TBMCS enables distributed battle management, which means that the Joint community Marine Corps, Navy, Army, Air Force can all contribute to managing the air campaign. The company will ensure that TBMCS provides faster access to real-time operations information; better planning and collaboration tools; and enhanced situational awareness while dramatically reducing sustainment costs. This includes providing updates for approximately 200 integrated software applications from large planning tools to smaller "plug-in" applets that allow force status monitoring.

Lockheed Martin Delivers the Next Evolution of the F-35 Lightning II's Information Technology

Lockheed Martin delivered the next evolution of the F-35 Lightning II's information technology backbone called the Autonomic Logistics Information System (ALIS). Following validation at test sites, the software will be installed at all F-35 locations and deployed for military operations beginning in 2015. Military services manage their F-35 fleets through logistics and operational data analysis provided by ALIS. As the F-35 fleet management tool, ALIS integrates preventative maintenance, flight scheduling and the mission planning system. Pilots plan and debrief missions, and maintenance professionals sustain the F-35 using ALIS. During flight test operations, the military will confirm new ALIS capabilities, including high-speed data download for increased aircraft availability. The release also provides each nation flying the F-35 with advanced reporting features for fleet management and trend analysis. The F-35 is the first tactical aviation system to have sustainment tools engineered in concert with the aircraft for efficiency and cost effectiveness. ALIS is currently operating at nine locations supporting more than 12,000 sorties to date. Compared to previous aircraft, a higher fidelity of information about the F-35 fleet is tracked within ALIS to reduce operations and maintenance costs and increase aircraft availability. Following the U.S. Marine Corps' planned July 2015 initial operating capability, the U.S. Air Force and Navy are planning initial operations in 2016 and 2018, respectively.


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