THAAD: Credit Lockheed Martin
ExcellenceBusiness ExpansionCommended
ExcellenceResearch and DevelopmentCommended

Army Technology Excellence Awards and Rankings 2022

Lockheed Martin is one of the world’s largest defense companies and is headquartered in Bethesda, Maryland. The company is ranked in Business Expansion and R&D in the 2022 Army Technology Excellence Rankings.

The company has been engaged in a number of projects relating to ground equipment during the research period with a particular focus on defense systems and interceptors. Examples include securing a $74 million contract to produce the Terminal High Altitude Area Defense (THAAD) weapon system for the US Missile Defense Agency (MDA), which is expected to be deployed by 2025.

The company also conducted US Army-led flight tests of its PAC-3 Missile Segment Enhancement (MSE) interceptor and PAC-3 cost reduction initiative (CRI) interceptor, with the flight tests demonstrating the upgrades to its PAC-3 MSE interceptor and confirming the reliability of PAC-3 CRI. During testing, a PAC-3 MSE intercepted a tactical ballistic missile target. This validated missile and launcher software and hardware component upgrades.

Lockheed also delivered the Long Range Hypersonic Weapon (LRHW) system’s ground equipment to the US Army, which forms part of a multi-year hypersonic weapons development programme and originates from a contract signed in 2019.

The company is also at the forefront of military research and development and during the research period a notable example was its partnership with Microsoft to advance 5G.MIL technologies and support secure connectivity across US Department of Defense (DoD) systems, covering various domains. The technology aims to address adversary capabilities that seek to deny, degrade, or infiltrate communications networks.

Elsewhere the company has also continued its development of the terrestrial layer system (TLS) programme for the US Army. The TLS programme is aimed at providing critical situational awareness capabilities to the US Army. It is designed for tactical vehicles and will deliver an integrated array of signals intelligence (SIGINT), electronic warfare (EW) and other capabilities related to cyberspace operations.

“The company has been engaged in a number of projects relating to ground equipment during the research period with a particular focus on defense systems and interceptors”

Terminal High Altitude Area Defense (THAAD) system. Credit: Lockheed Martin



Lockheed Martin’s operating units are organized into broad business areas.

  • Aeronautics, with approximately $26.7 billion in 2021 sales which includes tactical aircraft, airlift, sustainment and aeronautical research and development lines of business.
  • Missiles and Fire Control, with approximately $11.7 billion in 2021 sales that includes the Terminal High Altitude Area Defense System and PAC-3 Missiles as some of its high-profile programs.
  • Rotary and Mission Systems, with approximately $16.8 billion in 2021 sales, which includes Sikorsky helicopters, maritime systems, sensors, radar systems, command and control, combat simulation and training, undersea systems and full-spectrum cyber capabilities.
  • Space, with approximately $11.8 billion in 2021 sales which includes development of commercial and government satellites, strategic missiles, mission solutions and the deep space exploration lines of business.

Financial Performance

  • 2021 Net Sales: $67 billion
  • 2021 Net Earnings: $6.3 billion
  • Backlog: $135 billion
  • Cash Flow from Operations: $9.2 billion
  • Stock Ticker Symbol: LMT, on the New York Stock Exchange. Ranked 49th on the 2021 Fortune 500 list of largest industrial corporations

(All amounts approximate)

Location and Staffing

  • Employees: Approximately 114,000 employees in the United States and internationally
  • Operations: 370+ facilities and 13,700 active suppliers, including suppliers in every U.S. state and more than 900 suppliers in over 60 countries outside the U.S.

Customer Base

As a global security and aerospace company, the majority of Lockheed Martin’s business is with the U.S. Department of Defense and U.S. federal government agencies. In addition, Sikorsky (a Lockheed Martin Company) provides military and rotary-wing aircraft to all five branches of the U.S. armed forces along with military services and commercial operators in 40 nations. The remaining portion of Lockheed Martin’s business is comprised of international government and commercial sales of products, services and platforms.


6801 Rockledge Drive

Bethesda, MD


United States

TELEPHONE: (301) 897-6000