Martin Placek
Research expert covering transportation and electronics
Lockheed Martin - statistics & facts
Lockheed Martin is a global security and aerospace company headquartered in North Bethesda, Maryland. Lockheed, originally an aircraft manufacturer, was founded in 1926. It merged with Martin Marietta in 1995 to form the current company. With 122,000 employees worldwide, Lockheed Martin is comprised of four business segments: aeronautics, missiles and fire control, rotary and mission systems, and space systems. The major competitors of Lockheed Martin include Boeing, General Dynamics, and RTX (previously known as Raytheon).
The net sales to the U.S. government totaled 49.4 billion U.S. dollars in 2023. The U.S. military had a budget of 890 billion U.S. dollars that year, which allows for significant government spending on defense systems. Lockheed Martin is one of the major lobbying spenders in the United States, which facilitates the negotiation of contracts with the U.S. government.
Rising global tensions
The revenue of Lockheed Martin increased steadily since 2015. This must be seen partly in relation with the war against the Islamic State in Iraq and Syria, but also in light of rising global tensions, including Russia's full-scale invasion of Ukraine in 2022 and growing tensions with China. As a result of these developments, global military expenditure rose steadily since 2018. Global military expenditure increased through the 2000s due to the U.S.-led wars in Afghanistan and Iraq, but stabilized during the first half of the 2010s.Financial information and government contracts
Lockheed Martin is one of the world’s leading arms-producing and military services companies, with arms sales reaching nearly 60 billion U.S. dollars. The aeronautics segment has consistently generated the most revenue in the past. This business segment specializes in research, design, development, manufacturing, and integration of their advanced military vehicles, drones, and other similar technologies. The net sales to the U.S. government from the aeronautics segment amounted to 18 billion U.S. dollars in 2023.The net sales to the U.S. government totaled 49.4 billion U.S. dollars in 2023. The U.S. military had a budget of 890 billion U.S. dollars that year, which allows for significant government spending on defense systems. Lockheed Martin is one of the major lobbying spenders in the United States, which facilitates the negotiation of contracts with the U.S. government.
