LOCKHEED MARTIN Business Summary

Lockheed Martin Corporation (LMT) operates as the world’s preeminent defense contractor, generating revenue primarily through multi-year, fixed-price and cost-plus contracts with the U.S. Department of Defense and international allies. The business is structured into four core segments: Aeronautics, which derives nearly two-thirds of its revenue from the F-35 Lightning II program; Missiles and Fire Control (MFC), specializing in high-demand systems like PAC-3 and THAAD; Rotary and Mission Systems (RMS), encompassing Sikorsky helicopters and naval electronics; and Space, which focuses on satellite constellations and hypersonic strike capabilities. Entering 2026 with a record $194 billion backlog and projected annual revenues of $77.5 billion to $80 billion, the company maintains a dominant market share relative to primary competitors Boeing, Northrop Grumman, and RTX Corporation by leveraging its "21st Century Security" vision to lead in Joint All-Domain Command and Control (JADC2) integration. Leadership is spearheaded by Chairman, President, and CEO James D. Taiclet, a former military pilot and American Tower executive who has prioritized digital transformation and telecommunications-style networking in defense hardware. He is supported by Chief Operating Officer Frank A. St. John, a veteran of the firm’s missile divisions, and Chief Financial Officer Evan Scott, who brings extensive industry experience from his previous tenure at L3Harris. Technical strategy is overseen by Vice President and CTO Dr. Craig Martell, formerly the inaugural Chief Digital and AI Officer for the U.S. Department of Defense, signaling a strategic focus on artificial intelligence and autonomous warfare. The company’s governance is bolstered by a board featuring high-level military and industrial figures, including former Chairman of the Joint Chiefs of Staff Joseph Dunford, while institutional giants Vanguard and BlackRock remain the primary shareholders, reflecting the firm’s status as a foundational asset in the aerospace and defense sector.