Lockheed Martin
Headquarters:
6801 Rockledge Drive
Bethesda, MD 20817
Employees: 146,000
CEO: Robert Stevens
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.
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.
Lockheed Martin's operating units are organized
into four broad business areas.
- Aeronautics, with approximately $11.4 billion in 2008 sales, includes tactical aircraft, airlift, and aeronautical research and development lines of business.
- Space Systems, with approximately $8.0 billion in 2008 sales, includes space launch, commercial satellites, government satellites, and strategic missiles lines of business.
- Electronics Systems, with approximately $11.6 billion in 2008 sales, includes missiles and fire control, naval systems, platform integration, simulation and training and energy programs lines of business.
- Integrated Systems & Global Solutions (IS&GS), with approximately $11.6 billion in 2008 sales, includes C4I, federal services, government and commercial IT solutions.
In 2008, Lockheed Martin reported revenues of $42.7 billion, a 2% increase, and net income was $3.2 billion.
The U.S. Department of Defense accounts for 58% of the company's revenue.
Lockheed Martin has 1,000 facilities in
500 cities and 46 states throughout the U.S.; Internationally,
business locations in 75 nations and territories.
Employment has increased by 6,000 over the past year.
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 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 January 22, 2009
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