The year 2020 was a time of growth for the aerospace defense giant. Despite pandemic-related supply chain disruptions, Lockheed Martin still managed to increase net sales by 9%, to $65.4 billion. The F-35 program, off to a rocky start, rebounded with the company delivering 120 orders over the year. The firm’s production backlog also rose, sitting at $147.1 billion as of spring 2021. Also in 2021, Lockheed Martin agreed to acquire U.S. manufacturer Aerojet Rocketdyne Holdings for $4.4 billion, a move to advance its standing in the rocket propulsion field. Following a strong first quarter, the company pushed up its sales and profits outlook for the year ahead.
Joel Saget—AFP/Getty Images
Lists ranking Lockheed Martin
World’s Most Admired Companies - 2022Just as it dominates our economy, Big Tech now dom...READ MOREview in list
Latest news for Lockheed Martin
- EuropeUkraine thanks U.S. for ‘game changing’ weapons system: But what is the HIMARS?July 5, 2022 4:11 PM UTC
- FinanceInvestors are betting that today’s inflation report will show the worst is behind usMay 11, 2022 8:29 AM UTC
- InternationalThe cheap, slow, and bulky drones taking down Russian armored tanks for UkraineMarch 4, 2022 3:02 PM UTC