Lockheed Martin Space
LMTLockheed Martin Space is a business segment of Lockheed Martin Corporation, one of the world's largest defense and aerospace companies.
Quick Facts
About Lockheed Martin Space
Lockheed Martin Space is a business segment of Lockheed Martin Corporation, one of the world's largest defense and aerospace companies. The Space segment develops and manufactures satellites, spacecraft, launch vehicle components, and space exploration systems from its headquarters in Denver, Colorado. As a prime contractor for major NASA and Department of Defense programs, Lockheed Martin Space shapes the future of space exploration and national security.
Lockheed Martin Space employs approximately 18,000 people and generates annual revenue exceeding $12 billion. The segment operates facilities across the United States, with major centers in Colorado, California, and Alabama. Under Executive Vice President Robert Lightfoot, Lockheed Martin Space delivers systems from Earth orbit to deep space exploration.
History and Milestones
Lockheed Martin formed in 1995 through the merger of Lockheed Corporation and Martin Marietta, combining extensive space heritage from both companies. Martin Marietta built the Viking Mars landers in the 1970s and Titan launch vehicles, while Lockheed developed military satellites and the Hubble Space Telescope.
The company has built spacecraft for every planet in the solar system. Major NASA programs include the Mars Atmosphere and Volatile Evolution (MAVEN) orbiter, Mars Reconnaissance Orbiter, Juno at Jupiter, and the OSIRIS-REx asteroid sample return mission, which returned samples from asteroid Bennu in 2023.
Lockheed Martin is the prime contractor for NASA's Orion spacecraft, the crew vehicle for the Artemis lunar program. Orion completed its first deep space mission during Artemis I in 2022, circling the Moon and returning safely to Earth.
Products and Services
Lockheed Martin develops the Orion crew capsule and European Service Module integration for NASA's Artemis program. The company also builds GPS III satellites providing enhanced navigation for military and civilian users, continuing decades of GPS satellite development.
The company manufactures advanced military satellites including missile warning, communications, and reconnaissance systems for the U.S. Space Force. Programs include the Space-Based Infrared System (SBIRS), Advanced Extremely High Frequency (AEHF) satellites, and classified programs.
Lockheed Martin produces the Solid Rocket Motor Upgrade (SRMU) and other components for various launch vehicles. The company's Fleet Ballistic Missile program provides strategic deterrence capabilities, while advanced technology development spans hypersonics, directed energy, and autonomous systems.
Technology and Capabilities
Lockheed Martin operates extensive spacecraft development and testing facilities. The Denver campus includes clean rooms for satellite assembly, thermal vacuum chambers, and acoustic test facilities. The company maintains specialized manufacturing for complex space systems.
The company invests heavily in research and development, operating Skunk Works advanced development programs and Lockheed Martin Ventures for technology investments. Space technology focus areas include advanced propulsion, space domain awareness, and in-space logistics.
Lockheed Martin leads the Orion industry team and participates in Human Landing System development through partnerships. The company also advances lunar surface systems, space habitat technologies, and orbital infrastructure concepts.
Business and Financial Overview
Lockheed Martin trades on NYSE under LMT with a market capitalization exceeding $100 billion. The Space segment generated approximately $12.3 billion in 2023 revenue, with substantial backlog from multi-year government contracts. Space represents the smallest of four business segments by revenue but maintains strategic importance.
Major contracts include the Orion spacecraft production, GPS III satellites, missile warning systems, and various classified programs. The company competes for NASA exploration contracts, DOD space systems, and international satellite programs.
Lockheed Martin invests in technology through internal R&D, venture investments, and university partnerships. The company has acquired space technology companies and formed strategic partnerships to expand capabilities.
Recent Developments
In 2024, Lockheed Martin continued Orion production for Artemis II and subsequent missions while advancing GPS IIIF satellite development. The company won awards for next-generation missile warning satellites and continued classified program execution.
The company advanced lunar surface systems development and participated in commercial space station studies for the post-ISS era. Lockheed Martin also expanded international space business and technology partnerships.
Development continued on advanced propulsion systems, space domain awareness capabilities, and autonomous spacecraft technologies. The company invested in manufacturing modernization and digital engineering transformation.
Market Position
Lockheed Martin ranks as the largest U.S. defense contractor and a top-tier space systems provider. The company competes primarily with Northrop Grumman, Boeing, and Raytheon for government space programs, with emerging competition from SpaceX in certain segments.
Competitive advantages include extensive government customer relationships, prime contractor experience on major programs, and comprehensive systems integration capabilities. The company's Orion leadership positions it for lunar and deep space exploration.
Strategic priorities include Artemis program execution, next-generation military satellites, space domain awareness, and international growth. Lockheed Martin invests in commercial space ventures while maintaining core government business.
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Data Accuracy Notice: Information about Lockheed Martin Space is compiled from publicly available sources including company websites, press releases, regulatory filings, and industry reports. Data is reviewed periodically but may not reflect the most recent developments.