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Lockheed Martin Corporation is a leading global aerospace, arms, defense, information security, and technology corporation. Based in North Bethesda, Maryland, Lockheed Martin was formed by the merger of Lockheed Corporation and Martin Marietta in 1995.
The company is renowned for being the world's largest defense contractor, with significant influence in high-end fighter aircraft markets, notably due to its F-35 Joint Strike Fighter program. The aeronautics segment, which includes the F-35, generates two-thirds of the company's revenue. Other segments encompass rotary and mission systems (including Sikorsky helicopters), missiles and fire control, and space systems, which involve satellite production and partnerships like the United Launch Alliance joint venture.
Lockheed Martin has recently made headlines with its advancements in missile defense. In November 2023, it achieved a major milestone by completing the first Knowledge Point (KP1) for the Next Generation Interceptor program, a crucial step toward the Critical Design Review scheduled for future development. This program aims to counter evolving ballistic missile threats and is pivotal for national security.
The company's Q1 2024 financial results showed a robust performance with net sales of $17.2 billion. Despite a slight dip in net earnings compared to 2023, Lockheed remains confident in meeting full-year financial expectations. Investments in R&D and significant capital projects highlight ongoing efforts to strengthen production capacity and innovation.
Strategic collaborations have bolstered Lockheed Martin's position. For instance, the integration of Elsight’s Halo connectivity platform with the Indago 4 UAS enhances the drone’s operational capabilities. Additionally, partnerships with academic institutions like the University of Iowa have advanced AI applications in air-to-air intercepts, showcasing the company’s commitment to cutting-edge technology.
Lockheed Martin’s commitment to innovation is also evident in its Skunk Works division, which has been pivotal in testing AI and autonomy capabilities through the VISTA X-62A aircraft. This platform has facilitated significant breakthroughs in AI development and integration, essential for future aerospace advancements.
Looking ahead, Lockheed Martin continues to play a critical role in global security and defense, leveraging its technological expertise to innovate and adapt to emerging threats. With a strong financial foundation and strategic initiatives, the company remains poised to maintain its leadership in the defense sector.
Lockheed Martin's F-35 Lightning II has been selected by Switzerland in its New Fighter Aircraft competition. This decision marks Switzerland as the 15th nation to join the F-35 program, enhancing global airpower. The Swiss Air Force will receive tailored F-35A aircraft and a comprehensive training program. This collaboration promises long-term economic and technical benefits, with opportunities for Swiss industry in research, development, and production. Currently, over 655 F-35s are in service globally, supported by extensive training programs.
Lockheed Martin's board of directors has announced a $2.60 per share dividend for the third quarter of 2021. This dividend is set to be paid on September 24, 2021, to shareholders on record as of September 1, 2021. As a leading global security and aerospace company, Lockheed Martin continues to demonstrate its commitment to returning value to shareholders while maintaining a skilled workforce of approximately 114,000 employees.
The fifth GPS III satellite, developed by Lockheed Martin (LMT), successfully launched on June 17, 2021, from Cape Canaveral, Florida, and is on its way to an operational orbit. This satellite enhances the U.S. military's GPS capabilities, offering three times better accuracy and improved anti-jamming. It will serve as the 24th M-Code signal-enabled vehicle, crucial for secure military positioning. The GPS system is vital for the U.S. economy, generating approximately $300 billion annually. Future satellites GPS III SV06, SV07, and SV08 are ready for launch.
Lockheed Martin has been selected by NASA to design, build, and operate two missions, VERITAS and DAVINCI+, aimed at exploring Venus. Launching between 2028 and 2030, these missions will investigate Venus' atmosphere, geology, and evolution, offering insights into potential past life on the planet. This marks NASA's return to Venus after over three decades. Lockheed Martin, which has a history of successful missions, will leverage its expertise to support scientific understanding of rocky planets, including Earth.
Lockheed Martin has been selected by NASA to design and operate two missions, VERITAS and DAVINCI+, aimed at studying Venus. Set to launch in 2026 and 2030, respectively, these spacecraft will explore the planet's atmosphere and geology.
As Earth's sister planet, Venus could offer insights into planetary evolution and climate change. Both missions represent NASA's first return to Venus in over three decades, and they aim to unravel the mysteries of how Venus became inhospitable.
Lockheed Martin (NYSE: LMT) will host a live webcast featuring CFO Ken Possenriede at the UBS Global Industrials and Transportation Conference on June 8, 2021, from 8:00 a.m. to 8:45 a.m. EDT. Investors can access the webcast through the Lockheed Martin investor relations website. An audio replay will be available for two weeks post-event. Headquartered in Bethesda, Maryland, Lockheed Martin employs approximately 114,000 personnel and specializes in advanced technology systems and services.
Lockheed Martin Corporation has elected Patricia E. Yarrington to its board of directors. Yarrington recently retired as the CFO of Chevron, bringing 38 years of experience in financial strategy and capital allocation. She is recognized as an 'independent director' and meets SEC criteria as an 'audit committee financial expert.' Yarrington will join both the Audit Committee and Management Development and Compensation Committee. CEO James Taiclet emphasizes her expertise will enhance Lockheed Martin's innovative technology and shareholder value.
Lockheed Martin (NYSE: LMT) and General Motors (NYSE: GM) have partnered to develop next-generation lunar vehicles for NASA's Artemis program, enhancing lunar exploration capabilities. The Lunar Terrain Vehicle (LTV) aims to enable astronauts to travel farther on the Moon's rugged terrain, especially at the Moon's south pole. Lockheed Martin will leverage over 50 years of experience with NASA, while GM will integrate advanced battery-electric technologies and autonomous systems for improved operational efficiency. This partnership represents a significant advancement in space exploration technology.
Lockheed Martin will host a live webcast presentation featuring Chairman, President, and CEO James Taiclet at Bernstein's 37th Annual Strategic Decisions Conference on June 2, 2021, from 11:00 a.m. to 11:50 a.m. EDT. Investors can access the webcast through the company’s investor relations page. An audio replay will be available for two weeks afterward. Lockheed Martin, headquartered in Bethesda, Maryland, is a global leader in security and aerospace, employing about 114,000 people and specializing in advanced technology systems.
Lockheed Martin's SBIRS GEO-5 satellite successfully launched on May 18, 2021, from Cape Canaveral. It is now communicating with U.S. Space Force's Space Delta 4 operations team, confirming signal acquisition 36 minutes post-launch. SBIRS GEO-5 enhances missile warning capabilities with its advanced sensors, critical for national security amid rising global threats. Built on the new LM 2100 Combat Bus, it features improved resilience and cyber-hardening. The satellite is part of the broader Next Gen OPIR Block 0 System, set to strengthen missile defense operations.
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