Lockheed Martin Corporation

Aerospace & DefenseFounded 1995

Last reviewed: July 2026

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Core profile pages, annual revenue records, and related research hubs for this company.

Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.

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Lockheed Martin Corporation

Aerospace & DefenseFounded 1995

Reviewed by Swet Parvadiya

Last reviewed: July 2026

Independent Editorial Analysis

13 historical events · Editorial analysis

Lockheed Martin Company Profile: Revenue, Business Model & Strategy

Research depth: 13 milestones · 8 FAQs

Lockheed Martin reported $75.048B in FY2025 net sales, $5.017B in net earnings, and $193.6B of backlog. The company employed about 123,000 people and is led...

Lockheed Martin is a U.S. defense contractor formed from the Lockheed–Martin Marietta merger. It reported $75.048B in FY2025 net sales, $5.017B in net earnings, about 123,000 employees, and $193.6B of backlog under CEO James D. Taiclet.

How Lockheed Martin makes money: The company earns its revenue almost entirely through long-term cost-plus and fixed-price government contracts — primarily with the U.S.

Revenue & employees CEO history Founders Business model

Annual Revenue (FY2025)$75.0B

Employees123,000

CEOJames D. Taiclet

Founded1995

IndustryAerospace & Defense

By Swet ParvadiyaLast reviewed: July 22, 2026

Data sources: annual reports, SEC filings, methodology

Industry:Aerospace & Defense

Editorial Perspective

Lockheed Martin's $176 billion backlog and 22-year streak of annual dividend increases make it one of the most financially visible large-cap companies in American industry, yet its business remains opaque to most investors due to classified program content and the complexity of government contracting mechanics. This profile draws on FY2024 annual report data, SEC filings, Congressional Budget Office program analysis, and Pentagon acquisition documents to provide the most comprehensive publicly available assessment of the company's business model and competitive position. Readers seeking investment guidance should consult a licensed financial advisor, as defense sector analysis requires specialized knowledge of federal acquisition regulations and budget dynamics not captured in standard financial metrics.

In-Depth Analysis

131 words · 1 min read

Lockheed Martin: Key Facts

FY2025 net sales: $75.048B.
Operating profit: $7.731B.
Net earnings: $5.017B.
Employees: about 123,000 as of December 31, 2025.
Backlog: $193.6B at year-end 2025.
Leadership: James D. Taiclet, chairman, president and chief executive officer.

How Lockheed Martin Makes Money

Lockheed Martin earns revenue from long-cycle defense and aerospace contracts across Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. Major programs include the F-35, PAC-3, THAAD, JASSM, LRASM, GMLRS, Black Hawk, Aegis, Orion, and classified systems.

In FY2025, Lockheed Martin reported $75.048 billion in net sales, $7.731 billion in operating profit, and $5.017 billion in net earnings.

Current Strategic Context

Demand remains elevated as allied defense budgets rise, but program execution, fixed-price contract losses, supply chains, pension actions, and government funding timing remain central financial risks.

Lockheed Martin Corporation Key Facts

Data Verified

Company	Lockheed Martin Corporation
Trajectory	Exponential
Financials	$75B (FY2025, last reviewed July 2026) ^[1]
Market Cap	$105.0B ^[2]
Net Income	$5.0B
Last reviewed	By Swet Parvadiya, Founder & Editor - May 2026
Founded	1995
Founder(s)	Norman Augustine, Daniel Tellep
CEO	James D. Taiclet
Headquarters	Bethesda, Maryland
Industry	Aerospace & Defense
Employees	123,000+ ^[3]

Lockheed Martin Company Profile: Revenue, Business Model & Strategy

"Lockheed Martin generated $71.0 billion in revenue during fiscal year 2024 — more than the GDP of Bolivia, Serbia, or Croatia — while holding a contract backlog of approximately $176 billion that provides roughly 2.5 years of future revenue visibility. The company's flagship program, the F-35 Lightning II, has been delivered to seventeen nations in over 1,000 aircraft and carries a lifetime cost estimate of $1.76 trillion, making it the most expensive weapons system ever built. In FY2025 alone, the company returned approximately $6.0 billion to shareholders through dividends and buybacks while maintaining an investment-grade credit rating and growing its backlog on a book-to-bill ratio exceeding 1.0. These numbers reflect a company that has turned national security into one of the most financially durable business franchises in American industry."

Why Lockheed Martin Corporation Wins

Lockheed Martin wins because it has built a competitive position that is structurally protected by the force of government law, the logic of sunk costs, and the irreplaceable nature of classified technical expertise accumulated over generations. No competitor can bid on a program they cannot see; no newcomer can sustain a system whose technical data is locked in Lockheed Martin's classified vaults; and no alternative supplier can replicate in years what took decades of program experience to develop. When a nation decides to buy F-35s, it is not buying an aircraft — it is entering a 30-to-50-year relationship with Lockheed Martin's global sustainment enterprise. The same logic applies to every major program the company operates. The company's consistent dividend growth, strong free cash flow generation, and $176 billion backlog confirm that this structural advantage translates into durable, predictable financial performance that few companies in any sector can match.

Lockheed Martin Corporation operates in a competitive market alongside NVIDIA Corporation, Microsoft Corporation, The Boeing Company, Northrop Grumman Corporation, RTX Corporation. Analysts frequently compare Lockheed Martin Corporation and NVIDIA Corporation due to their overlapping products, target markets, and strategic positioning.

Revenue

$75.0B

Founded

1995

Employees

123K+

Market Cap

$105.0B

Author: CorpDigest Research DeskVerified Accuracy

Key Facts

Founded: Lockheed Martin Corporation was established in 1995 and is headquartered in Bethesda, Maryland.
Revenue: Lockheed Martin Corporation reported $65.4B in annual revenue (2020).
Valuation: Market capitalization of approximately $105.0B.
Scale: Lockheed Martin Corporation employs 123,000 people globally.
Business Model: The company earns its revenue almost entirely through long-term cost-plus and fixed-price government contracts —.
Competitive Edge: In a geopolitical environment defined by great-power competition with China and Russia, the resurgence of European.

How Lockheed Martin Corporation Makes Money

Capital Allocation & Scaling Mechanics

The company earns its revenue almost entirely through long-term cost-plus and fixed-price government contracts — primarily with the U.S. Department of Defense, but also with the intelligence community, NASA, and allied foreign governments — to develop, produce, and sustain some of the most complex engineered systems ever built. Approximately 30 percent of Lockheed Martin's contracts are structured on a cost-plus basis, meaning the government reimburses allowable costs and pays an additional fee; these contracts carry lower financial risk but also lower potential margins. The company's ability to manage program execution — controlling labor efficiency, supply chain costs, and technical risk — is therefore the central determinant of its profitability, not pricing power in the traditional commercial sense. Margins are a function of program execution discipline rather than pricing power. This has indirectly strengthened Lockheed Martin's competitive positioning as a more financially stable and operationally disciplined prime contractor — a reputation the company has worked hard to maintain even as it has absorbed its own charges on classified programs.

Explore Lockheed Martin Corporation In Depth

📅Lockheed Martin Corporation History & Milestones 💼How Lockheed Martin Corporation Makes Money 📊Lockheed Martin Corporation Revenue & Financials ⚔️Lockheed Martin Corporation Competitive Strategy & SWOT 👤Lockheed Martin Corporation Founders & Origin Story 🏆Lockheed Martin Corporation CEO History & Leadership 🤝Lockheed Martin Corporation Acquisitions & Deals

What Is Lockheed Martin Corporation's Growth Strategy?

Its Space segment builds GPS III satellites that every American smartphone quietly depends on, and it holds the prime contract for the Orion spacecraft that NASA intends to carry astronauts to the Moon under the Artemis program. Under CEO James Taiclet, the company has pursued a 21st Century Security strategy emphasizing digital transformation, hypersonics, and network-centric warfare capabilities. The production phase, in which Lockheed Martin builds new aircraft at its Fort Worth, Texas facility at a current rate of approximately 156 aircraft per year, generates revenue under a series of fixed-price contracts that require the company to manage cost risk directly. Navy destroyer launches a missile to intercept a ballistic threat, the combat management system coordinating that engagement was almost certainly built by Lockheed Martin. Revenue growth is a function not of market expansion in the commercial sense but of Congressional appropriations, defense budget priorities, and geopolitical threat perceptions. Northrop Grumman builds the B-21 Raider, the Air Force's new stealth bomber — a program Lockheed Martin bid on and lost in 2015. When the F-35's software development ran years behind schedule in the 2010s, or when classified programs experience cost growth that cannot be passed to the customer, the financial pain falls directly on Lockheed Martin's earnings. Building an F-35 requires integrating millions of components from hundreds of suppliers, coordinating software development across multiple mission systems, and managing a global supply chain while simultaneously sustaining the existing fleet. Lockheed Martin's growth strategy under CEO James Taiclet, articulated as '21st Century Security,' rests on three interlocking pillars: expanding production capacity to meet unprecedented demand, developing and winning next-generation programs in hypersonics and autonomous systems, and transforming the company's business model from a pure systems manufacturer to a digital technology integrator. On the production side, the company has committed significant capital to expanding F-35 production capacity at its Fort Worth facility, increasing missile production capacity at its Pike County Operations in Troy, Alabama — which produces the PAC-3 and Javelin — and expanding Black Hawk helicopter production at the Sikorsky facility in Stratford, Connecticut. These capacity investments are driven by order backlogs that in some cases extend more than five years into the future. In hypersonics and next-generation systems, Lockheed Martin is investing in a portfolio of programs spanning boost-glide, air-breathing, and conventional prompt-strike concepts, recognizing that hypersonic weapons represent the next major platform competition in the missile domain. The company acquired Terran Orbital in 2024 to strengthen its small satellite manufacturing capability, reflecting growing demand for proliferated low-Earth-orbit satellite architectures in military communications and reconnaissance. The digital engineering and artificial intelligence strategy involves re-architecting how the company designs, tests, and sustains its systems — using digital twins, model-based systems engineering, and AI-assisted logistics to reduce program development timelines and sustainment costs. The macroeconomic and geopolitical tailwinds supporting Lockheed Martin's revenue growth over the next five to ten years are more powerful and more durable than at any point since the Cold War. The Indo-Pacific security environment, characterized by China's rapid military buildup and its increasingly assertive posture toward Taiwan, has driven a parallel rearmament surge among U.S. Allies in the region, with Japan ordering 42 F-35Bs and 63 F-35As in the largest Japanese defense procurement since World War II. CEO James Taiclet has guided investors to expect sustained mid-single-digit revenue growth and continued double-digit EPS growth through capital returns, a guidance framework the company has a strong track record of meeting. Those achievements put Lockheed on the map as a builder of genuinely advanced, record-setting aircraft at a time when aviation was the technological frontier equivalent of what software has been to recent generations. The company was acquired out of receivership during the Depression by a group of investors led by Robert Gross for the improbably small sum of $40,000 in 1932, and it was under Gross's leadership that Lockheed grew into a genuine industrial power.

How Much Revenue Does Lockheed Martin Corporation Generate?

Lockheed Martin reported FY2025 net sales of $75.048 billion, up 6% from 2024. Operating profit was $7.731 billion, net earnings were $5.017 billion, cash from operations was $8.557 billion, free cash flow was $6.908 billion, and backlog reached $193.6 billion at December 31, 2025. The company’s financial profile is still defined by long-cycle defense contracts. FY2025 growth was supported by higher volume in missiles, F-35 production and sustainment, space, and other programs, while pension settlement charges and reach-forward losses affected reported earnings quality.

Financial Metric	Estimated Value
Market Capitalization	$105.0B
Employee Count	123,000 +
Latest Annual Revenue	$65.4B (2020)

Historical Revenue Chart

Lockheed Martin Corporation Annual Revenue History

Verified annual revenue figures from SEC filings and official earnings reports. All figures in USD.

Fiscal Year	Annual Revenue	YoY Change
FY2020	$65.4B	N/A
FY2021	$67.0B	+2.5%
FY2022	$66.0B	-1.6%
FY2023	$67.6B	+2.4%
FY2024	$71.0B	+5.1%
FY2025	$75.0B	+5.7%

Source: SEC EDGAR filings, annual earnings releases, and verified financial disclosures.

Deep Dive into Lockheed Martin Corporation SWOT Analysis

Who Are Lockheed Martin Corporation's Main Competitors?

Its Missiles and Fire Control segment produces the Javelin anti-tank missile — the same weapon that proved decisive in Ukraine's defense against Russian armored columns — along with the PAC-3 Patriot interceptor, the HIMARS rocket artillery system, and the THAAD terminal defense system. It is the decades of institutional knowledge embedded in programs so sensitive that they cannot be transferred to a competitor, combined with a web of government relationships, security clearances, and technical certifications that would take any new entrant a generation to rebuild. Lockheed Martin is the prime contractor for the GPS III satellite constellation, which provides the positioning signals relied upon by civilian smartphones, commercial aviation, autonomous vehicles, and military precision-guided munitions worldwide. And competitive positioning is determined as much by classified technical reputation as by publicly observable capabilities. On the surface, the company competes against a small handful of established prime contractors — RTX Corporation, Boeing Defense, Northrop Grumman, General Dynamics, and L3Harris — in a market governed by federal acquisition regulations that bear no resemblance to commercial competition. The Next Generation Air Dominance program, which the Air Force has been developing under a classified acquisition strategy, represents the most consequential aviation competition of the next decade, and Lockheed Martin — as the maker of the F-22, the world's most capable air superiority fighter — is a presumptive contender, though the classified nature of the program makes competitive positioning difficult to assess from public information. In the competition against Boeing — once its closest peer — Lockheed Martin has steadily widened its lead as Boeing's defense business has struggled with cost overruns on fixed-price development programs including the KC-46 tanker, the T-7 Red Hawk trainer, and the classified Ground Based Strategic Deterrent ICBM replacement program, which Boeing won over Northrop Grumman only to face a program under severe financial stress. Northrop Grumman is Lockheed Martin's most direct competitor in space systems and stealth aircraft. In satellite systems, Northrop Grumman competes directly with Lockheed Martin for intelligence community and military satellite contracts, and the two companies trade program wins with some regularity. RTX Corporation, formed from the merger of Raytheon and United Technologies, is Lockheed Martin's most significant competitor in missile systems, particularly in air defense. Lockheed Martin has responded in part by adopting a '21st Century Security' framework under CEO James Taiclet that emphasizes artificial intelligence integration, digital engineering, and open systems architectures — positioning the company not as a manufacturer of discrete platforms but as an integrator of networked systems. Whether this repositioning is substantive enough to defend market share in software-centric domains over the next decade is the central competitive question the company faces. The book-to-bill ratio, which measures new orders against revenues recognized, exceeded 1.0 for the full year, indicating that the backlog is growing rather than being consumed, a healthy sign for sustained revenue trajectory. This creates a moat that is genuinely unique: a competitor cannot benchmark against what they cannot see, and the government cannot easily shift classified programs to new contractors without accepting years of transition risk and knowledge loss. This is not merely an internal efficiency initiative; it is a competitive positioning move designed to demonstrate to Pentagon program offices that Lockheed Martin can deliver the faster iteration cycles that next-generation programs require.

Top Competitors	Head-to-Head Analysis

What Is Lockheed Martin Corporation's Full Historical Timeline?

Historical Timeline & Strategic Pivots

Key Milestones

1912 - Loughead Brothers Build First Aircraft

Allan and Malcolm Loughead complete their first seaplane, the Model G, in a rented Santa Barbara garage, charging $10 per passenger for brief flights over San Francisco Bay and launching what would eventually become Lockheed Corporation.

1943 - Skunk Works Established

Lockheed establishes the Advanced Development Projects division — universally known as the Skunk Works — under the leadership of Clarence 'Kelly' Johnson, producing the P-80 Shooting Star jet fighter in just 143 days and launching a legacy of classified breakthrough aircraft development.

1955 - U-2 Spy Plane First Flight

The Lockheed U-2 high-altitude reconnaissance aircraft completes its first flight, entering CIA service the following year and providing critical intelligence on Soviet military capabilities throughout the Cold War — as well as sparking an international incident when Francis Gary Powers was shot down over the USSR in 1960.

1964 - SR-71 Blackbird First Flight

The Lockheed SR-71 Blackbird strategic reconnaissance aircraft achieves first flight, eventually setting an absolute speed record of 2,193 mph for a manned air-breathing aircraft — a record that stands to this day — while providing strategic reconnaissance capabilities that no adversary could intercept.

1991 - F-117 Nighthawk Combat Debut

Lockheed's F-117 Nighthawk stealth attack aircraft makes its combat debut in Operation Desert Storm, striking hardened Iraqi targets with precision-guided munitions and demonstrating to the world that stealth technology had fundamentally altered the calculus of air warfare.

1995 - Lockheed and Martin Marietta Merger

Lockheed Corporation and Martin Marietta complete their $10 billion merger on March 15, 1995, creating Lockheed Martin Corporation with combined revenues of approximately $23 billion, approximately 170,000 employees, and a portfolio spanning fighter aircraft, missiles, satellites, and space systems.

2001 - F-35 Program Award

Lockheed Martin wins the Joint Strike Fighter competition against Boeing, securing the System Development and Demonstration contract for what would become the F-35 Lightning II — a program that has since grown into the most expensive weapons system in history with an estimated $1.76 trillion lifecycle cost.

2006 - First GPS IIR-M Satellite Launch

Lockheed Martin's first GPS IIR-M modernized satellite is launched, beginning the upgrade of the GPS constellation with military signals on a second frequency and laying the groundwork for the GPS III program that would follow.

2015 - Sikorsky Aircraft Acquisition

Lockheed Martin completes the acquisition of Sikorsky Aircraft from United Technologies Corporation for approximately $9 billion, adding the UH-60 Black Hawk, CH-53K King Stallion, and S-92 commercial helicopter programs and substantially expanding the company's rotary wing and mission systems capabilities.

2016 - F-35A Achieves Initial Operating Capability

The F-35A conventional takeoff and landing variant achieves Initial Operating Capability with the U.S. Air Force, marking the culmination of 15 years of development and the beginning of a production and sustainment cycle expected to generate revenues for the company through the 2070s.

2022 - HIMARS System Transforms Ukraine Conflict

The M142 HIMARS High Mobility Artillery Rocket System, produced by Lockheed Martin, is supplied to Ukrainian forces and achieves immediate strategic impact, destroying Russian ammunition depots, command posts, and logistics nodes at ranges previously unavailable to Ukrainian ground forces, triggering a surge in global demand for Lockheed Martin missile systems.

2024 - FY2025 Sales Reach $75.048 Billion

Lockheed Martin reports fiscal year 2024 net sales of $71.0 billion, a 5.3 percent increase from 2023, driven by growth across all four segments and reflecting unprecedented global demand for the company's defense systems in an environment shaped by the wars in Ukraine and the Middle East and accelerating Chinese military modernization.

2025 - FY2025 Sales Reach $75.048 Billion

Lockheed Martin reported $75.048 billion in FY2025 net sales, $5.017 billion in net earnings, $6.908 billion in free cash flow, about 123,000 employees, and $193.6 billion of backlog at year-end.

Risks & Weaknesses

Analytical Assessment

Primary Risk Factor

Lockheed Martin's biggest risk is also its biggest strength, which is its concentration in U.S. Government defense spending. If Congress were to significantly reduce defense appropriations — whether due to fiscal consolidation pressure, a change in geopolitical threat perception, or a shift in political priorities — the company has limited ability to offset the revenue impact through commercial customers or international sales alone. A second major risk is fixed-price development contract overruns: when complex programs exceed their cost estimates on fixed-price contracts, Lockheed Martin absorbs the difference, and the history of defense program development shows that large, technically complex systems almost invariably cost more and take longer than planned. Charges on classified space programs in FY2024 are a recent example. The third risk is technological disruption from software-centric defense startups that are challenging the traditional prime contractor model with more agile, less expensive approaches to military capability — a competitive dynamic that could, over time, shift the composition of defense budgets away from large platform programs toward distributed, software-defined systems.

Risk assessment based on public filings, SWOT analysis, and verified industry data. Not financial advice.

How Did Lockheed Martin Corporation Start and Grow?

Established

1995

Fiscal Revenue

$65.4B

Workforce

123K+

HQ Location

Bethesda, Maryland

Key Turning Point

: The Strategic Shift That Created a Behemoth

Lockheed Corporation and Martin Marietta each pivoted from post-Cold War survival strategies — which initially emphasized workforce reduction and facility consolidation — to an aggressive M&A approach after the Pentagon's 1993 'Last Supper' meeting signaled that the government would support and encourage consolidation among defense prime contractors. Lockheed's acquisition of General Dynamics' F-16 and F-22 production assets in 1993 was the opening move, followed by the merger with Martin Marietta in 1995. This pivot from organic survival to consolidation leadership was the defining strategic choice that created the modern Lockheed Martin.

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Explore Lockheed Martin In Depth

Detailed research across every dimension of Lockheed Martin — history, financials, leadership, and strategy.

Company History

That number did not materialize by accident. It is the product of a century of aviation innovation, Cold War spending, post-merger consolidation, and an almost unparalleled ability to win and sustain programs of record…

Full Lockheed Martin history →

Revenue & Financials

Lockheed Martin reported $75.0B in revenue for fiscal year 2025. Data covers 6 fiscal years. Market capitalization stands at approximately $105B.

Lockheed Martin financials →

Founders

Lockheed Martin was founded by Norman Augustine, Daniel Tellep in 1995 in Bethesda, Maryland. Explore each founder's background, motivations, and their role in building the company.

Lockheed Martin founders →

CEO & Leadership

Lockheed Martin is currently led by James D. Taiclet. Explore the full CEO history — leadership transitions, tenures, and the strategic decisions of each chief executive.

Lockheed Martin CEO history →

Business Model

The company earns its revenue almost entirely through long-term cost-plus and fixed-price government contracts — primarily with the U.S.

How Lockheed Martin makes money →

Acquisitions

Lockheed Martin has completed 4 documented acquisitions. Explore the full acquisition history and strategic rationale behind each deal.

Lockheed Martin acquisitions →

Competitive Strategy

Lockheed Martin strategy →

CorpDigest Research Desk

| Strategic Audit Verified

Our analysts compile business strategy profiles from public financial filings, press releases, and analyst reports. Each profile is reviewed for accuracy before publication by our editorial desk and updated on a rolling basis.

About the Author →Our Methodology →

Frequently Asked Questions About Lockheed Martin

Who is Lockheed Martin CEO?

James D. Taiclet is chairman, president and chief executive officer of Lockheed Martin.

How does Lockheed Martin make money?

Lockheed Martin makes money from defense and aerospace systems, aircraft, missiles, helicopters, space systems, sustainment, and classified contracts.

What is Lockheed Martin known for?

Lockheed Martin is known for the F-35, missiles, missile defense, Black Hawk helicopters, Aegis systems, satellites, and national security programs.

Analysis: How Lockheed Martin Corporation Makes Money

Deep dive into the Lockheed Martin Corporation business model, revenue streams, and strategic moats in 2026.

Competitor Benchmarking

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Financial data on this page is sourced from SEC EDGAR filings, official earnings releases, and verified press statements. Revenue figures are reviewed and updated periodically. Read our full data methodology ->

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Editorial Methodology

Verified Analysis

Our research methodology involves cross-referencing SEC Edgar filings, official investor relations disclosures, and primary annual reports. We prioritize primary data over secondary media reports to ensure the highest degree of financial accuracy. Each profile is reviewed for editorial depth and word-count compliance (minimum 1,200 words) before publication.

1. Primary Sources

Every financial metric and strategic milestone is cross-referenced against official SEC filings (10-K, 10-Q), annual reports, and verified corporate press releases.

2. Expert Curation

Software tools help organize public data, then Swet Parvadiya reviews the narrative for strategic context, source quality, and clarity.

3. Multi-Pass Audit

Before publication, every intelligence report undergoes a technical audit for factual consistency, citation accuracy, and objective neutrality.

SEC filings & public records methodology

Sourced from public financial records

Explore Related Pages for Lockheed Martin Corporation

History & FailuresTimeline, setbacks, and key milestones Business ModelHow they make money and market products FinancialsRevenue history and fiscal metrics Competitive StrategyRivals, benchmarks, and SWOT analysis

Sources & References

The data and narrative synthesized in this intelligence report were verified against primary sources:

[1]SEC EDGAR: Lockheed Martin Corporation Annual Filings (10-K, 8-K)
[2]Lockheed Martin Corporation Corporate Website
[3]Lockheed Martin Corporation Annual Report 2025 - Revenue and Financial Data
[4]sec.gov
[5]investors.lockheedmartin.com
[6]data.sec.gov

Explore Lockheed Martin

Core profile pages, annual revenue records, and related research hubs for this company.

Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.

Independent Editorial Analysis

13 historical events · Editorial analysis

Lockheed Martin Company Profile: Revenue, Business Model & Strategy

Research depth: 13 milestones · 8 FAQs

Lockheed Martin reported $75.048B in FY2025 net sales, $5.017B in net earnings, and $193.6B of backlog. The company employed about 123,000 people and is led...

How Lockheed Martin makes money: The company earns its revenue almost entirely through long-term cost-plus and fixed-price government contracts — primarily with the U.S.

Revenue & employees CEO history Founders Business model

Annual Revenue (FY2025)$75.0B

Employees123,000

CEOJames D. Taiclet

Founded1995

IndustryAerospace & Defense

By Swet ParvadiyaLast reviewed: July 22, 2026

Data sources: annual reports, SEC filings, methodology

Industry:Aerospace & Defense

Editorial Perspective

In-Depth Analysis

131 words · 1 min read

Lockheed Martin: Key Facts

FY2025 net sales: $75.048B.
Operating profit: $7.731B.
Net earnings: $5.017B.
Employees: about 123,000 as of December 31, 2025.
Backlog: $193.6B at year-end 2025.
Leadership: James D. Taiclet, chairman, president and chief executive officer.

How Lockheed Martin Makes Money

In FY2025, Lockheed Martin reported $75.048 billion in net sales, $7.731 billion in operating profit, and $5.017 billion in net earnings.

Current Strategic Context

Lockheed Martin Corporation Key Facts

Data Verified

Company	Lockheed Martin Corporation
Trajectory	Exponential
Financials	$75B (FY2025, last reviewed July 2026) ^[1]
Market Cap	$105.0B ^[2]
Net Income	$5.0B
Last reviewed	By Swet Parvadiya, Founder & Editor - May 2026
Founded	1995
Founder(s)	Norman Augustine, Daniel Tellep
CEO	James D. Taiclet
Headquarters	Bethesda, Maryland
Industry	Aerospace & Defense
Employees	123,000+ ^[3]

Lockheed Martin Company Profile: Revenue, Business Model & Strategy

Why Lockheed Martin Corporation Wins

Revenue

$75.0B

Founded

1995

Employees

123K+

Market Cap

$105.0B

Author: CorpDigest Research DeskVerified Accuracy

Key Facts

Founded: Lockheed Martin Corporation was established in 1995 and is headquartered in Bethesda, Maryland.
Revenue: Lockheed Martin Corporation reported $65.4B in annual revenue (2020).
Valuation: Market capitalization of approximately $105.0B.
Scale: Lockheed Martin Corporation employs 123,000 people globally.
Business Model: The company earns its revenue almost entirely through long-term cost-plus and fixed-price government contracts —.
Competitive Edge: In a geopolitical environment defined by great-power competition with China and Russia, the resurgence of European.

How Lockheed Martin Corporation Makes Money

Capital Allocation & Scaling Mechanics

Explore Lockheed Martin Corporation In Depth

What Is Lockheed Martin Corporation's Growth Strategy?

How Much Revenue Does Lockheed Martin Corporation Generate?

Financial Metric	Estimated Value
Market Capitalization	$105.0B
Employee Count	123,000 +
Latest Annual Revenue	$65.4B (2020)

Historical Revenue Chart

Lockheed Martin Corporation Annual Revenue History

Verified annual revenue figures from SEC filings and official earnings reports. All figures in USD.

Fiscal Year	Annual Revenue	YoY Change
FY2020	$65.4B	N/A
FY2021	$67.0B	+2.5%
FY2022	$66.0B	-1.6%
FY2023	$67.6B	+2.4%
FY2024	$71.0B	+5.1%
FY2025	$75.0B	+5.7%

Source: SEC EDGAR filings, annual earnings releases, and verified financial disclosures.

Deep Dive into Lockheed Martin Corporation SWOT Analysis

Who Are Lockheed Martin Corporation's Main Competitors?

Top Competitors	Head-to-Head Analysis

What Is Lockheed Martin Corporation's Full Historical Timeline?

Historical Timeline & Strategic Pivots

Key Milestones

1912 - Loughead Brothers Build First Aircraft

1943 - Skunk Works Established

1955 - U-2 Spy Plane First Flight

1964 - SR-71 Blackbird First Flight

1991 - F-117 Nighthawk Combat Debut

1995 - Lockheed and Martin Marietta Merger

2001 - F-35 Program Award

2006 - First GPS IIR-M Satellite Launch

2015 - Sikorsky Aircraft Acquisition

2016 - F-35A Achieves Initial Operating Capability

2022 - HIMARS System Transforms Ukraine Conflict

2024 - FY2025 Sales Reach $75.048 Billion

2025 - FY2025 Sales Reach $75.048 Billion

Lockheed Martin reported $75.048 billion in FY2025 net sales, $5.017 billion in net earnings, $6.908 billion in free cash flow, about 123,000 employees, and $193.6 billion of backlog at year-end.

Risks & Weaknesses

Analytical Assessment

Primary Risk Factor

Risk assessment based on public filings, SWOT analysis, and verified industry data. Not financial advice.

How Did Lockheed Martin Corporation Start and Grow?

Established

1995

Fiscal Revenue

$65.4B

Workforce

123K+

HQ Location

Bethesda, Maryland

Key Turning Point

: The Strategic Shift That Created a Behemoth

Join 50,000+ business researchers

Get weekly deep-dives into how top companies actually make money, their competitive moats, and strategic pivots. Free forever.

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Explore Lockheed Martin In Depth

Detailed research across every dimension of Lockheed Martin — history, financials, leadership, and strategy.

Company History

Full Lockheed Martin history →

Revenue & Financials

Lockheed Martin reported $75.0B in revenue for fiscal year 2025. Data covers 6 fiscal years. Market capitalization stands at approximately $105B.

Lockheed Martin financials →

Founders

Lockheed Martin was founded by Norman Augustine, Daniel Tellep in 1995 in Bethesda, Maryland. Explore each founder's background, motivations, and their role in building the company.

Lockheed Martin founders →

CEO & Leadership

Lockheed Martin is currently led by James D. Taiclet. Explore the full CEO history — leadership transitions, tenures, and the strategic decisions of each chief executive.

Lockheed Martin CEO history →

Business Model

The company earns its revenue almost entirely through long-term cost-plus and fixed-price government contracts — primarily with the U.S.

How Lockheed Martin makes money →

Acquisitions

Lockheed Martin has completed 4 documented acquisitions. Explore the full acquisition history and strategic rationale behind each deal.

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Competitive Strategy

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| Strategic Audit Verified

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Frequently Asked Questions About Lockheed Martin

Who is Lockheed Martin CEO?

James D. Taiclet is chairman, president and chief executive officer of Lockheed Martin.

How does Lockheed Martin make money?

Lockheed Martin makes money from defense and aerospace systems, aircraft, missiles, helicopters, space systems, sustainment, and classified contracts.

What is Lockheed Martin known for?

Lockheed Martin is known for the F-35, missiles, missile defense, Black Hawk helicopters, Aegis systems, satellites, and national security programs.

Analysis: How Lockheed Martin Corporation Makes Money

Deep dive into the Lockheed Martin Corporation business model, revenue streams, and strategic moats in 2026.

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Editorial Methodology

Verified Analysis

1. Primary Sources

Every financial metric and strategic milestone is cross-referenced against official SEC filings (10-K, 10-Q), annual reports, and verified corporate press releases.

2. Expert Curation

Software tools help organize public data, then Swet Parvadiya reviews the narrative for strategic context, source quality, and clarity.

3. Multi-Pass Audit

Before publication, every intelligence report undergoes a technical audit for factual consistency, citation accuracy, and objective neutrality.

SEC filings & public records methodology

Sourced from public financial records

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Sources & References

The data and narrative synthesized in this intelligence report were verified against primary sources:

[1]SEC EDGAR: Lockheed Martin Corporation Annual Filings (10-K, 8-K)
[2]Lockheed Martin Corporation Corporate Website
[3]Lockheed Martin Corporation Annual Report 2025 - Revenue and Financial Data
[4]sec.gov
[5]investors.lockheedmartin.com
[6]data.sec.gov

Lockheed Martin Company Profile: Revenue, Business Model & Strategy

Lockheed Martin: Key Facts

How Lockheed Martin Makes Money

Current Strategic Context

Table of Contents

Lockheed Martin Corporation Key Facts

Lockheed Martin Company Profile: Revenue, Business Model & Strategy

Why Lockheed Martin Corporation Wins

Key Facts

How Lockheed Martin Corporation Makes Money

Capital Allocation & Scaling Mechanics

Explore Lockheed Martin Corporation In Depth

What Is Lockheed Martin Corporation's Growth Strategy?

How Much Revenue Does Lockheed Martin Corporation Generate?

Historical Revenue Chart

Lockheed Martin Corporation Annual Revenue History

Who Are Lockheed Martin Corporation's Main Competitors?

What Is Lockheed Martin Corporation's Full Historical Timeline?

Historical Timeline & Strategic Pivots

Key Milestones

1912 - Loughead Brothers Build First Aircraft

1943 - Skunk Works Established

1955 - U-2 Spy Plane First Flight

1964 - SR-71 Blackbird First Flight

1991 - F-117 Nighthawk Combat Debut

1995 - Lockheed and Martin Marietta Merger

2001 - F-35 Program Award

2006 - First GPS IIR-M Satellite Launch

2015 - Sikorsky Aircraft Acquisition

2016 - F-35A Achieves Initial Operating Capability

2022 - HIMARS System Transforms Ukraine Conflict

2024 - FY2025 Sales Reach $75.048 Billion

2025 - FY2025 Sales Reach $75.048 Billion

Risks & Weaknesses

Primary Risk Factor

How Did Lockheed Martin Corporation Start and Grow?

: The Strategic Shift That Created a Behemoth

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Explore Lockheed Martin In Depth

Company History

Revenue & Financials

Founders

CEO & Leadership

Business Model

Acquisitions

Competitive Strategy

CorpDigest Research Desk

Frequently Asked Questions About Lockheed Martin

Who is Lockheed Martin CEO?

How does Lockheed Martin make money?

What is Lockheed Martin known for?

Analysis: How Lockheed Martin Corporation Makes Money

Competitor Benchmarking

Compare

Explore More Brand Histories

Editorial Methodology

Explore Related Pages for Lockheed Martin Corporation

Sources & References

Lockheed Martin Company Profile: Revenue, Business Model & Strategy

Lockheed Martin: Key Facts

How Lockheed Martin Makes Money

Current Strategic Context

Table of Contents

Lockheed Martin Corporation Key Facts

Lockheed Martin Company Profile: Revenue, Business Model & Strategy

Why Lockheed Martin Corporation Wins

Key Facts

How Lockheed Martin Corporation Makes Money

Capital Allocation & Scaling Mechanics

Explore Lockheed Martin Corporation In Depth

What Is Lockheed Martin Corporation's Growth Strategy?

How Much Revenue Does Lockheed Martin Corporation Generate?

Historical Revenue Chart

Lockheed Martin Corporation Annual Revenue History

Who Are Lockheed Martin Corporation's Main Competitors?

What Is Lockheed Martin Corporation's Full Historical Timeline?

Historical Timeline & Strategic Pivots

Key Milestones

1912 - Loughead Brothers Build First Aircraft

1943 - Skunk Works Established