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Who is Lockheed Martin?

Lockheed Martin History (1912–Present)

Lockheed Martin traces its roots to 1912, when aviation pioneers Glenn L. Martin founded the Glenn L. Martin Company and brothers Allan and Malcolm Loughead (later Lockheed) founded the Lockheed Aircraft Company, both of which became critical players in military aviation. In 1995, Lockheed merged with Martin Marietta—itself formed by the 1961 merger of the Glenn L. Martin Company and American-Marietta Corporation—to create today’s Lockheed Martin, headquartered in Bethesda, Maryland.

Over the decades, the company has produced iconic aircraft and technologies: the P-38 Lightning, U-2 spy plane, SR-71 Blackbird, and F-117 Nighthawk from its legendary Skunk Works division, as well as the C-130 Hercules, F-22 Raptor, and F-35 Lightning II, the latter developed in partnership with Northrop Grumman, BAE Systems, and Pratt & Whitney. Its missile defense portfolio includes THAAD, Aegis, and Patriot systems (the last co-developed with Raytheon Technologies, now RTX), while its Space division partners with NASA and United Launch Alliance (a Boeing joint venture) on projects like the Orion spacecraft and GPS satellites.

Financially, Lockheed Martin generated $71 billion in sales in 2024, with 73% of revenue from the U.S. government and 26% tied to the F-35 program alone, while carrying a $176 billion backlog. Leadership today rests with James (Jim) D. Taiclet Jr., CEO since 2020, who succeeded Marillyn Hewson, credited with expanding the F-35 globally. The company rewarded shareholders with $6.8 billion returned in 2024 via dividends and buybacks, sustaining a market capitalization above $100 billion.

Despite its strength, the company has faced repeated controversies, including cost overruns on the F-35 program (which is projected to cost over $1.7 trillion across its life cycle), bribery and corruption scandals such as a 1970s case that toppled Japanese Prime Minister Kakuei Tanaka over fighter jet deals, scrutiny for lobbying and political influence in Washington, and more recently $1.6 billion in charges linked to classified aeronautics programs and helicopter contracts in 2025. Lockheed also faces criticism from human rights groups for weapons sales to countries like Saudi Arabia, tied to civilian casualties in Yemen. Nevertheless, the company remains central to U.S. defense strategy and global arms supply.

Labels: Lockheed Martin, defense industry, military aviation, aerospace history, F-35, Cold War, U.S. military, arms industry

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