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Lockheed Martin
Headquarters: 6801 Rockledge Drive
Bethesda, MD 20817
Employees: 112,000
CEO: Marillyn Hewson
Stock Symbol: LMT
Website: http://www.lockheedmartin.com
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Lockheed Martin is the nation's largest defense contractor. The company specializes in aeronautics, electronic systems, information & technology services, integrated systems and space systems. It is the largest provider of IT services and training to the federal government.
Products that Lockheed Martin have developed include the C-130 transport jet, F-15, F-16, F/A-22 jets, Cobra radar systems, Patriot missiles and the Hubble Space Telescope.
The company is developing the F-35 Lightning II, also known as the Joint Strike Fighter.
Lockheed Martin's operating units are organized into five broad business areas.
* Aeronautics, with approximately $14.9 billion in 2014 sales, includes tactical aircraft such as the F-35, airlift, and aeronautical research and development lines of business.
* Missiles and Fire Control, with approximately $7.68 billion in 2014 sales, is a recognized designer, developer and manufacturer of precision engagement aerospace and defense systems for the U.S. and allied militaries. MFC develops, manufactures and supports advanced combat, missile, rocket, manned and unmanned systems for military customers that include the U.S. Army, Navy, Air Force, Marine Corps, NASA and dozens of foreign allies.
* Mission Systems and Training, with approximately $7.14 billion in 2014 sales, provides surface, air and undersea applications on more than 460 programs for U.S. military and international customers.
* Information Systems & Global Solutions (IS&GS), with approximately $7.78 billion in 2014 sales, includes federal services, government and commercial IT solutions.
* Space Systems, with approximately $8.06 billion in 2014 sales, includes space launch, commercial satellites, government satellites, and strategic missiles lines of business.
In 2014, Lockheed Martin reported revenues of $45.6 billion, up slightly from the previous year, and net income of $3.6 billion. Over 80% of sales came from the U.S. government, primarily the Department of Defense.
Lockheed Martin has 572 facilities in 500 cities and all 50 states. The company has business locations in 70 nations and territories.
History
In 1909, aviation pioneer Glenn L. Martin launches the maiden voyage of his first airplane, made of silk and bamboo, in Santa Ana, CA.
In 1912, brothers Allan and Malcolm Loughead form the Alco Hydro-Aeroplane Company. That same year, the Glenn L. Martin Company is officially incorporated in Los Angeles. Among the company's early contributors are engineers Donald Douglas, James McDonnell, Chance Vought and C.A. Van Dusen, draftsman Dutch Kindelberger and factory manager Larry Bell.
After the demise of his original company, Allan Loughead officially forms the Lockheed Aircraft Company in 1926, this time in Hollywood, CA. The name is spelled phonetically to alleviate earlier problems with pronunciation.
Both Lockheed and Martin companies would develop aircraft that would fight in World Wars I and II. The companies would also supply NASA's efforts into space.
In 1990, Lockheed helped develop the Hubble Space Telescope which was launched into space by the Discovery Space Shuttle.
In 1995, Lockheed would merge with Martin Marietta to form the Lockheed Martin Corporation, the largest aerospace, defense and technology firm in the world.
Benefits and Pay
Competitive Pay
We use competitive market information to establish pay rate ranges that are appropriate, based on skill discipline and level. In addition, pay increases are determined by several factors, all designed to assure that your high performance is rewarded appropriately.
Extensive Health Care Coverage
You will be pleased to know that we pay the bulk of the total cost of the health plans we offer, including medical and dental for employees and their families. You can choose a health plan that best balances your needs and budget.
Retirement Programs
To help you achieve long-term financial goals, we provide an employer-paid Pension Plan and 401(k) Savings Plan at most locations. The Pension Plan is a valuable benefit that sets us apart from many other companies and enables us to reward long-term employment. As for our 401(k) Savings Plan, employees at most locations are eligible to participate. Additionally, we may match a portion of your 401(k) Savings Plan contributions to further supplement your retirement dollars.
Income Protection Plans
While our retirement programs provide you with a solid foundation for long-term financial planning, we also offer an array of insurance plans to help give you peace of mind today. As an employee, you'll find we offer several programs to help replace income for you and your survivors in the event of illness, injury or death.
Paid Time Off
We fully recognize that you have a life outside of work. To help you balance your personal and professional needs, we offer market-competitive time-off programs that include vacation, holidays, bereavement, jury duty and military leave.
Updated February 8, 2015
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