- lockheed martin feeds the military industrial complex
Lockheed Martin Feeds the Military Industrial Complex
It has become clear that the military industrial complex has become a very lucrative worldwide business, with $235 billion in arms being sold every year by large defense companies. The arms trade has reached every corner of the globe, with the United States in particular. Of the 100 top defense companies in the world, 47 of those are American companies. It can be said that making and selling weaponry has become a US specialty. You are probably familiar with Lockheed Martin, Boeing
, Northrop Grumman, General Dynamics, and Raytheon, which are very large well-known corporations in the defense and aerospace industries. These companies are responsible for producing everything from guided missile systems, the M1 Abrams main battle tank, F-15 Strike Eagles, F-35 Lightning II, and other heavy military equipment.
Of these top 5 companies, Lockheed Martin is ranked at #1, with $35.7 billion in gross arms sales, generating $2.9 billion in profit. The 132,000 person company is home to the largest military aircraft programs, particularly the F-35 joint strike fighter, which is now the largest military aircraft program in the world. Lockheed Martin opened a new manufacturing facility in Pinellas Park, Florida for the specific purpose of producing and developing parts for this fighter jet.
As the largest defense contractor, Lockheed Martin receives 7.1% of the funds awarded by the Pentagon. 74% the company’s total revenues comes from military sales. Lockheed Martin is a publicly-traded S&P 500 Component aerospace and defense company that was formed via the merger of Lockheed Corporation and Martin Marietta in 1995. The company operates with five business segments: Aeronautics, Information Systems & Global Solutions, Missile and Fire Control, Mission Systems and Training, and Space Systems. Of the company’s total business, US government contracts accounted for $38.4 billion or 85%, with foreign government contracts accounting for only $5.8 billion (13%), and other contracts accounting for only $900 million (2%). In fact, it has received more government contracts than any other company in history. Lockheed Martin works with over two dozen government agencies, which range from the Department of Defense and Department of Agriculture to the Department of Energy and the Environmental Protection Agency, as well as the CIA, FBI, IRS, and NSA, among others. Expect this trend to continue.
ASAP Semiconductor, through our proprietary website ASAP Aerospace
, strives to be a premier distributor and one-stop shop for all your Lockheed Martin spare parts requirements. Whether it is for commercial, civil, or US military application, we can help you meet your procurement needs.
Posted on August 5, 2014
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