Research Proposal on "Lockheed Martin"

Research Proposal 8 pages (2341 words) Sources: 5 Style: APA

[EXCERPT] . . . .

Aeronautics

Lockheed Martin

Lockheed Martin, a Maryland-based company is the world's #1 military contractor as well as the world's largest arms exporter. In the past Lockheed Martin has built the U-2 and the SR-71 Blackbird spy planes. Today they produce the F-16, F/a-22 jet fighter, Hellfire and Javelin missiles, as well as designing nuclear weapons. Their F-117 stealth attack fighters were used to shock and awe the population of Iraq at the beginning of the U.S. invasion, while since the start of that war the Air Force has increased production of Lockheed's PAC-3 Patriot missile (Lockheed Martin, n.d.).

Lockheed Martin is based out of Bethesda, Maryland, and employs about 146,000 people worldwide (Lockheed Martin Corporation, 2009). The company primarily deals with the research, design, development, manufacture and integration of advanced technology systems, products and services. Almost 80% of Lockheed Martin's customer base consists of the U.S. Department of Defense and the U.S. federal government. Lockheed Martin is also the largest provider of it services, systems integration, and training to the U.S. Government. The remaining segments of Lockheed Martin's business are comprised of international government and some commercial sales of products, services and platforms (Lockheed Martin, 2009). Lockheed Martin reported sales of $42.7 billion in 2008. They are led by Robert J. Stevens, Chairman, President and Chief Executive Officer (Lockheed Martin Corporation, 2009)

Lockheed Martin's operating units are organized into several broad business areas. These include:

Aeronautics, in which they had approximately $11.5 billion sales in 2008 sales. This includes tactical aircraft, airlift, and aeronautical research and development lines of business.

Electronic Systems, with approximately $11.6 billion in sales in 2008. This includes missiles and fire control, naval systems, platform integration, simulation and training and energy programs lines of business.

Information Systems & Global Services (IS&GS), which realized approximately $11.6 billion in sales in 2008. This segment includes C4I, federal services, government and commercial it solutions.

Space Systems which had approximately $8 billion in sales in 2008. This division includes space launch, commercial satellites, government satellites, and strategic missiles lines of business.

Overall the corporation reported 2008 sales of $42.7 billion, a backlog of $80.9 billion, and cash flow from operations of $4.4 billion (Lockheed Martin Corporation, 2009).

Lockheed Martin Aeronautics Company is well-known for building the finest military aircraft in the world. This acknowledgment was earned through persistent research and development of high-performance aircraft and by continuously seeking innovative and low-cost design and manufacturing strategies. Their products play an important role in the defense of the United States and many other countries and help ensure peace and stability around the world. The list of dependable and highly regarded Lockheed Martin aircraft includes the proven and affordable fighter, the F-16 Fighting Falcon; the versatile airlifter, the C-130J; the first operational stealth fighter, the F-117 Nighthawk; and the 5TH-generation fighters, F-22 Raptor and F-35 Lightning II. Lockheed Martin Aeronautics Company makes use of the latest in engineering technology. Their factories feature some of the most advanced production technologies in the world, such as laser ultrasonic inspection and laser direct manufacturing. Leading-edge management concepts are also employed throughout the operations worldwide (Lockheed Martin Corporation, 2009).

In 2001 the company was awarded the world's largest weapons contract ever. It consisted of a $200 billion deal to build the Joint Strike Fighter, a next-generation combat jet that eventually will replace the aircraft that is currently used by the Navy, Air Force and Marine Corps. In the last few years the SEC has investigated Lockheed for insider trading and falsifying their accounts (Lockheed Martin, n.d.).

Lockheed Martin did not win this contract on personality alone, or fighter plane design. During the calendar year of 2000, Lockheed Martin spent more than $9.8 million lobbying members of Congress and the Clinton administration. This was more than double the $4.2 million the company spent during 1999. During the 1999-2000 election, Lockheed Martin contributed over $2.7 million in soft money, PAC and individual contributions to federal candidates and parties. More than two-thirds of that money went to the Republicans. Lockheed Martin tends to spend more on lobbying Congress than any of its competitors do. In 2002 they spent $9.7 million. Only General Electric and Philip Morris spent more on lobbying expenses. In the 2004 election cycle, Lockheed contributed more than $1.9 million (Lockheed Martin, n.d.).

Over the years Lockheed has been able to exercise its influence in big ways. One example was their support of the invasion of Iraq. The company's former vice-president Bruce Jackson chaired the Coalition for the Liberation of Iraq, which was a bipartisan group formed to promote Bush's plan for war in Iraq. Bruce Jackson was also involved in obtaining the support for the war from Eastern European countries. He went so far as to help them to write their letter of endorsement for the military intervention. All of this effort was due to the fact that Lockheed has business relations with these countries. In 2003 Poland paid out $3.5 billion for 48 F-16 fighter planes, which it was able to buy with a $3.8 billion loan from the U.S. (Lockheed Martin, n.d.).

There are many companies that are dependent on the U.S. government for revenue, which can be a good thing and a bad thing at the same time. Whenever the U.S. goes to war the stocks of defense contractors tend to rise as the Pentagon looks to replace outdated hardware. But on the other hand when the government pulls back on spending defense contractors suffer to a greater degree than other sectors (Lockheed Martin, n.d.).

Lockheed Martin sells a large majority of its products to the U.S. government. While there are research and development risks for which the U.S. government will cover for the company, there are others that will not. In addition, as a company that depends on advanced engineering in order to produce many of its products, Lockheed Martin like many other companies is up against a national shortage of qualified engineers in some disciplines. To spread its risk in the development of the most sophisticated types of fighting jets, the U.S. government has signed a development agreement with the United Kingdom, Italy, the Neverlands and seven other nations. The 12-year program to develop Lockheed Martin's F-35 Lightening II reached the half way point in 2007 (Reynolds, 2008).

Lockheed Martin Corporation takes part in the research, design, development, manufacture, integration, and sustainment of advanced technology systems, products, and services in the United States as well as around the world. The company does business in four different segments: Electronic Systems, Information Systems & Global Services, Aeronautics, and Space Systems. The Electronic Systems segment deals with air and missile defense; tactical missiles; weapon fire control systems; surface ship and submarine combat systems; anti-submarine and undersea warfare systems; land, sea-based, and airborne radars; surveillance and reconnaissance systems; simulation and training systems; and integrated logistics and sustainment services. Their Information Systems & Global Services segment supplies federal services; information technology solutions; software and systems engineering support services; logistics, mission operations support, peacekeeping, and nation-building services for a number of defense and civil government agencies. The Aeronautics division provides military aircraft, air vehicles, and related technologies. Some of the products and programs that are included are the F-35 Lightning II Joint Strike Fighter-multi-role coalition fighter, the F-22 Raptor-air dominance attack and multi-mission stealth fighter, the F-16 Fighting Falcon-multi-role fighter, the C-130J Super Hercules tactical transport aircraft, and the C-5M Super Galaxy strategic airlift aircraft. It also deals with the P-3 maritime patrol aircraft and U-2 high-altitude reconnaissance aircraft; produces components for the F-2 fighter; and serves as a co-developer of the T-50 supersonic jet trainer. The Space Systems segment offers government and commercial satellites; strategic and defensive missile systems, including missile defense technologies and systems, and fleet ballistic missiles; and space transportation systems (Lockheed Martin Corporation, (LMT), 2009).

Lockheed has basically three competitors in the aeronautics industry. In order of how they are positioned in the market behind Lockheed Martin these are Boeing, Northrop Grumman and Raytheon Company. The Boeing Company engages in the design, development, manufacture, sale, and support of commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services around the world. It operates in five segments: Commercial Airplanes, Boeing Military Aircraft (BMA), Network and Space Systems (N&SS), Global Services and Support (GS&S), and Boeing Capital Corporation (BCC) (Boeing Co. (BA), 2009).

Northrop Grumman Corporation provides products, services, and solutions in information and services, aerospace, electronics, and shipbuilding within the United States. Its Information & Services business incorporates command, control, communications, computers and intelligence, missile and air defense, airborne reconnaissance, intelligence management and processing, and decision support systems. It also provides information technology systems engineering and systems integration for the Department of Defense, national intelligence, federal, civilian, state and local agencies, and commercial customers; and offers infrastructure management and maintenance, training and preparedness, and logistics and life cycle management services. Their Aerospace business develops missionized integrated systems and subsystems for battlespace awareness, command and control systems, integrated combat systems, and… READ MORE

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