Lockheed Martin Essay, Research Paper
Lockheed Martin Corporation was formed in March 1995 with the merger of
two of the world’s premier technology companies, Lockheed Corporation and
Martin Marietta Corporation. In 1996, Lockheed Martin completed its strategic
combination with the defense electronics and systems integration businesses
Lockheed Martin traces its roots back to the early days of flight. In 1909
aviation pioneer Glenn L. Martin organized a company around a modest
airplane construction business and built it into a major airframe supplier to U.S.
military and commercial customers. Martin Marietta was established in 1961
when the Glenn L. Martin Company merged with American-Marietta Corp., a
leading supplier of building and road construction materials. In 1913, Allan and
Malcolm Loughhead (name later changed to Lockheed) flew the first Lockheed
plane over San Francisco Bay. The modern Lockheed Corporation was formed
in 1932 after the fledgling airplane company was reorganized.
The former Loral Corporation was founded in 1948 in New York City by
William Lorenz and Leon Alpert as a small defense electronics firm that over
the years grew into a multi-billion dollar firm. In sum, the new Lockheed Martin
Corporation comprises all or portions of 17 heritage companies.
Lockheed Martin is a customer focused, global enterprise
principally engaged in the research, design, development, manufacture and
integration of advanced technology systems, products, and services for
government and commercial customers. Lockheed Martin operates in the
same context as its customers and is deeply involved in solving the problems
and meeting the demands and expectations of its customers. Moreover, it
leads the way in showing customers new systems-based possibilities and
The Corporation’s core business areas are systems integration,
aeronautics, space, technology services and global telecommunications.
Lockheed Martin’s vision is to be the world’s best systems integrator in
aerospace, defense and technology services; to be the company our nation
and its allies trust most to integrate their largest, most complex, most important
advanced technology systems. Our goal is to provide the best value to our
customers, growth opportunities to our employees, and superior returns to our
Lockheed Martin had 1999 sales surpassing $25 billion and employs
approximately 130,000 people.