Lockheed Martin's broad portfolio of products and services competes against the products and services of other large
aerospace, defense, and information technology companies, as well as numerous smaller competitors (particularly in the IS&GS segment).
often forms teams with other companies that are competitors in other areas to provide customers with the best mix of capabilities to address
specific requirements. Cooperating with competitors is common in the aerospace & defense sector.
For example, Boeing
is a key competitor to Lockheed Martin but together, the companies own and operate Hellfire Systems, LLC which is a joint venture
created to manufacture the AGM-114 Hellfire Missile.
and Lockheed Martin
are both prime contractors on the F-22 Raptor
defense program (F-22 no longer produced). The two companies also jointly own and operate United Launch Alliance LLC, which manufactures Delta IV and Atlas V launch vehicles
for the U.S. Air Force EELV program.
Another example is the Javelin Joint Venture. Together, Lockheed Martin and Raytheon
formed a joint venture to produce the
Advanced Anti-tank Weapon System (a man-portable fire-and-forget weapon system used against
enemy tanks, bunkers, buildings, small boats, and slow-moving helicopters).
In some instances, which are more prevalent in the company's IS&GS-Civil line of business, Lockheed Martin may also compete with a government-led bidding entity. In some areas of its business, customer requirements are changing to encourage expanded competition, as with the commercial access to space initiatives.
The competition for foreign sales is subject to additional U.S. Government stipulations (e.g., export restrictions, market access, technology transfer, industrial cooperation, and contracting practices). Lockheed Martin may compete against domestic and foreign companies (or teams) for contract awards by other governments. International competitions also may be subject to different laws or contracting practices of other governments that may affect how Lockheed Martin structures its bid for the procurement. In many international procurements, the purchasing government’s relationship with the U.S. and its industrial cooperation programs are also important factors in determining the outcome of a competition. It is common for international customers to require contractors to comply with their industrial cooperation regulations, sometimes referred to as offset requirements, and we have undertaken foreign offset agreements as part of securing some international business.
Principal factors of competition in Lockheed Martin's markets include: technical and management capabilities; the ability to develop and implement complex, integrated system architectures; affordability; financing and total cost of ownership; release of technology; past performance; and Lockheed Martin's ability to provide timely solutions.
Lockheed Martin's top competitors are BAE Systems, Boeing, Cassidian (Airbus Military), Dassault Group, Eurofighter Jagdflugzeug GmbH, Finmeccanica, General Dynamics, Northrop Grumman, Panavia Aircraft GmbH, Raytheon, and SAAB AB.
Lockheed Martin | Revenues
Lockheed Martin | Net Income
Lockheed Martin | R&D Spending
Lockheed Martin | # Employees
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