Lockheed Martin appears poised for future growth and expansion.
The defense contractor, with headquarters in Bethesda, has upcoming plans to expand its services both at home and abroad, company spokesman Jeff Adams said.
“We?re looking at a business model that will show progressive performance growth,” Adams said. “We very much like the direction our company is headed.”
Lockheed Martin employs about 140,000 people worldwide and researches, designs, develops and manufactures advanced technology systems. Sixty percent of company?s business is done with the U.S. Department of Defense and 85 percent of its revenues come from the federal government, Adams said.
In 2006, Lockheed Martin reported sales of more than $39 billion.
While most of its business involves defense systems, Lockheed Martin sees opportunities in the civil government sector, working with the FBI as well as United States? political outreach and democratization efforts, Adams said.
Internationally, Lockheed Martin is eyeing opportunities in the missile-defense and aircraft arenas, Adams said.
“The firm is the largest player in a heavily concentrated military industry, with nearly 20 percent more in revenue than its next-largest competitor,” according to a recent report on the company by Morningstar, a Chicago-based investment research company. “The company is also many years ahead of most competitors on the long and shallow learning curves of missiles, space exploration, launch vehicles, combat electronics and military airframes, to name but a few. Lockheed enjoys an extremely long and mostly smooth relationship with the federal government.”
