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Lockheed Martin Corporation News

20 Jul 2021

Shipbuilding and The Navy Of Tomorrow

The aircraft carrier USS Theodore Roosevelt transits the Pacific Ocean, Jan. 1, 2021. U.S. Navy Photoby Navy Petty Officer 3rd Class Wade

In the United States, it is a frustrating time to be in the government shipbuilding business. Even though America depends upon maritime commerce and faces growing security risks at sea, shipbuilding is just not a major national focus.Up to now, shipbuilders have had it pretty good. For the past several years, big naval shipbuilders have enjoyed steady growth and strong performance. In 2020, Huntington Ingalls Industries enjoyed record revenue of $9.4 billion, an 8.5% margin and gave a quarter billion back to shareholders in dividends and stock buybacks.

06 Feb 2020

St. Louis Delivered to U.S. Navy

The consortium consisting of Fincantieri, through its subsidiary Fincantieri Marinette Marine (FMM), and Lockheed Martin Corporation has delivered the future littoral combat ship USS St. Louis, LCS 19, to the Navy.St. Louis is the 10th Freedom-class ship, and the 19th littoral combat ship of 34 planned by the Navy. Independence-class LCS vessels are also underway.The Fincantieri and Lockheed Martin team is currently in full-rate production and has delivered ten ships to the U.S. Navy to date. There are currently six ships in various stages of construction at Fincantieri Marinette Marine.The construction contract for the LCS Program Freedom-variant was awarded to FMM in 2010…

07 Feb 2019

LCS Billings Delivered to U.S. Navy

Within the Littoral Combat Ship Program (LCS), the consortium consisting of Fincantieri, through its subsidiary Fincantieri Marinette Marine (FMM), and Lockheed Martin Corporation, has delivered “Billings” (LCS 15) to the US Navy at FMM’s shipyard in Marinette, Wisconsin.The Fincantieri and Lockheed Martin team is currently in full-rate production and has delivered eight ships to the U.S. Navy to date.There are currently six ships in various stages of construction at Fincantieri Marinette Marine, with two more in long-lead production.The construction contract for the LCS Program Freedom-variant was awarded to FMM in 2010, within the partnership by Lockheed Martin…

21 Jan 2019

Fincantieri to Build LCS 31

File photo: Freedom-variant littoral combat ship, USS Detroit (LCS 7), built by Fincantieri Marinette Marine (U.S. Navy photo by Michael Lopez)

The U.S. Navy has awarded a shipbuilding contract to a consortium consisting of Fincantieri, through its subsidiary Fincantieri Marinette Marine (FMM), and Lockheed Martin Corporation, to build an additional vessel as part of its Littoral Combat Ship (LCS) program.LCS 31 will be the 16th Freedom-variant LCS, one of the U.S. Navy’s main shipbuilding programs. The Fincantieri and Lockheed Martin team is in full-rate production of the Freedom-variant, and has delivered seven ships to the U.S. Navy to date.

27 Sep 2017

LCS Program: Little Rock Delivered

U.S. Navy photo courtesy of Lockheed Martin

Within the Littoral Combat Ship Program (LCS), the consortium consisting of Fincantieri, through its subsidiary Fincantieri Marinette Marine (FMM), and Lockheed Martin Corporation, has delivered Little Rock (LCS 9) to the U.S. Navy at FMM’s shipyard in Marinette, Wisc. Commissioning is planned for December in Buffalo, N.Y. Little Rock is part of a program started in 2010, which comprises 11 units, all fully funded, on top of the two units delivered before 2010 (Freedom - LCS 1 and Forth Worth - LCS 3).

16 Aug 2016

LCS Detroit Delivered to the US Navy

USS Detroit underway during Acceptance Trials on July 13, 2016 (Photo: Lockheed Martin)

Within the Littoral Combat Ship Program (LCS), the consortium consisting of Fincantieri, through its subsidiary Fincantieri Marinette Marine (FMM), and Lockheed Martin Corporation, has delivered the future USS Detroit (LCS 7) to the U.S. Navy at FMM’s shipyard in Marinette, Wisc. Detroit is the fourth Freedom-class ship delivered by the consortium, and it is part of a program started in 2010, which comprises 11 units, all fully funded, on top of the two units delivered before 2010 (Freedom - LCS 1 and Forth Worth - LCS 3).

01 Dec 2015

USN Issues Full Funding for LCS "Cooperstown"

As part of the Littoral Combat Ship (LCS), the US Navy has awarded to the consortium which includes Fincantieri, through its subsidiary Fincantieri Marinette Marine (FMM), and Lockheed Martin Corporation, the amount of $ 279 million related the completion of the construction of "Cooperstown" (LCS 23). A significant portion of this amount will be attributable to Fincantieri. The financing of the US Congress keeps unchanged the cost and schedule of the ship. As announced on 16 April 2015, the Congress had previously approved advance funding of 79 million dollars (advanced procurement funding) for this unit. This ship is the last of the 10 units of the class "Freedom" program…

11 Mar 2014

Navy Awards Fiscal 2014 LCS Contracts

LCS photo credit USN

Contract modifications have been issued to Lockheed Martin Corporation and Austal USA under their respective Littoral Combat Ship (LCS) block buy contracts to add funding for construction of two fiscal year 2014 Littoral Combat Ships each, informs the Program Executive Office, Littoral Combat Ships. These are the seventh and eighth ships fully funded for each contractor under its previously-awarded, fixed-price incentive "block buy" contract for the design and construction of up to ten LCS Flight 0+ ships.

03 Mar 2014

DSTO, Lockheed Martin Form Research Collaboration

Raydon Gates, CEO of Lockheed Martin Australia, and Chief Defence Scientist Dr. Alex Zelinsky

The Defense Science and Technology Organization (DSTO) and Lockheed Martin Australia have signed a new strategic alliance to collaborate on a range of technologies for strengthening defense and national security. The agreement was signed for DSTO by the Chief Defence Scientist Dr. Alex Zelinsky and for Lockheed Martin Australia by Chief Executive Raydon Gates. “This ten year agreement with Lockheed Martin Australia reaffirms DSTO’s commitment to enter into long term partnerships with industry for enhancing Australia’s current and future defense capability,” Dr. Zelinsky said.

17 Dec 2013

Safariland Appoints Kubasik to BoD

Christopher E. Kubasik

Maui Acquisition Corp, the parent corporation of The Safariland Group, has  announced the appointment of Christopher E. Kubasik to its Board of Directors effective immediately. In addition to serving on the Board, Mr. Kubasik will also serve as the Chairman of the Company’s Audit Committee. “We are pleased and excited to welcome someone of Chris’ caliber to our Board of Directors,” said Warren Kanders, Chairman and CEO of the Company. Mr. Kubasik added, “I am excited to join this…

05 Dec 2013

Safariland Appoints Kubasik to Board of Directors

Maui Acquisition Corp, the parent corporation of The Safariland Group, a global provider of a diverse range of safety and survivability products designed for the public safety, military, professional and outdoor markets has announced the appointment of Christopher E. Kubasik to its Board of Directors effective immediately. In addition to serving on the Board, Mr. Kubasik will also serve as the Chairman of the Company’s Audit Committee. “We are pleased and excited to welcome someone of Chris’ caliber to our Board of Directors,” said Warren Kanders, Chairman and CEO of the Company. Mr.

06 Sep 2013

McCullough Takes Helm of Surface Navy Association

Barry McCullough

Retired Vice Adm. Barry McCullough has been named to succeed retired Vice Adm. Ron Route as president of the Surface Navy Association. Route will become the president of the Naval Postgraduate School in Monterey, Calif., in early October. McCullough retired from the U.S. Navy in 2011 where he was Commander, U.S. Fleet Cyber Command/Commander, U.S. 10th Fleet. He also served as Deputy Chief of Naval Operations for Integration of Capabilities (OPNAV N8) and Director of Surface Warfare (OPNAV N86).

30 Apr 2012

Lockheed Martin Show Growth in Q! 2012 Results

Lockheed Martin Corporation (NYSE: LMT) reports first quarter 2012 net sales of $11.3 billion compared to $10.6 billion in 2011. Earnings from continuing operations during the first quarter of 2012 were $665 million, or $2.02 per diluted share, compared to $556 million, or $1.57 per diluted share, in 2011. Cash from operations during the first quarter of 2012 was $458 million, after pension contributions of $505 million and tax payments of $150 million, compared to cash from operations of $1.7 billion during the first quarter of 2011, which benefited from a tax refund of $236 million and no pension contributions. "Our strong first quarter results reflect the strength of our portfolio and the commitment of our team to deliver value to our customers and shareholders…

03 Jan 2012

Lockheed Martin: Integrates Nav System on Ice Patrol Ship

Lockheed Martin UK has completed the installation of its Warship Electronic Chart Display and Information System (WECDIS) on board HMS Protector, the Royal Navy’s new Antarctic ice patrol vessel. Following installation, HMS Protector conducted and passed her WECDIS digital accreditation process, enabling her to undertake Antarctic patrol operational commitments with the Royal Navy. This is the first time Lockheed Martin UK has fitted an Antarctic ice patrol vessel with this new advanced hardware and software system. WECDIS provides ships’ navigation teams with an integrated electronic navigation picture, greatly reducing navigator workload…

04 Jan 2010

USCG Foundation Honors Lockheed Martin

The Coast Guard Foundation, a non-profit organization committed to the education, welfare and morale of all Coast Guard members and their families, announced that it has recognized Lockheed Martin Corporation as its largest corporate donor. Honored for lifetime gifts exceeding $2m, the Foundation presented the award to Fred P. Moosally, Coast Guard Foundation trustee and president of Lockheed Martin’s Maritime Systems and Sensors (MS2) business unit, at the company’s Washington, D.C. offices. Lockheed Martin’s support is used by the Foundation to fund important projects and programs that seek to improve the lives and performance of Coast Guard members, their families and Coast Guard Academy cadets, including college scholarships for children, as well as grants for enlisted members.

06 Dec 2009

U.S. Navy Releases Pricing for LCS3 & 4

As a result of the Navy's change in acquisition strategy for the Fiscal Year (FY) 2010 Littoral Combat Ship (LCS) program, the Navy can now release the pricing for LCS 3 and LCS 4 awarded contracts. The total value of the LCS 3 contract, awarded to Lockheed Martin Corporation on March 23, was $470,854,144 which includes ship construction, non-recurring construction and additional engineering effort, configuration management services, additional crew and shore support, special studies and post delivery support. The total value of the LCS 4 contract, awarded to General Dynamics - Bath Iron Works on May 1, was $433,686,769 which includes ship construction…

03 Jun 2009

2009 World Maritime Day Parallel Events

Commandant Thad Allen, in a recently signed letter, announced that the United States will be the host of the 2009 World Maritime Day Parallel Event being held in New York City and around the country on October 16. The event will be marked in New York with a delegate conference, a “Green Ship” Exhibition, Student Science Fair and a reception. At the urging of Commandant Allen, activities with marine environmental protection themes will take place in ports around the nation marking the event. “We are honored to be the hosts of the 2009 International Maritime Organization (IMO) World Maritime Day Parallel Event. The Parallel Event is an opportunity for the maritime community to come together with the public to celebrate the contributions of the maritime industry…

02 Dec 2008

Lockheed Martin Gets $26m Navy Contract

Lockheed Martin Corporation has been selected by the U.S. Navy for a firm fixed price, indefinite delivery/indefinite quantity contract to provide Consolidated Automated Support System (CASS) performance based logistics (PBL) maintenance and support services for the U.S. Navy and Marine Corps beginning with an initial $26m task order. The overall five-year contract with a $221m ceiling has two additional one-year options and will provide PBL for up to 500 U.S. Navy and Marine Corps hybrid, radio frequency, communications navigation and instrumentation CASS stations. Lockheed Martin was awarded its first CASS contract in 1994 and an additional support contract in 2000 to ensure the availability of CASS automatic test equipment for full service contracts…

05 Aug 2008

Fincantieri to Acquire the Manitowoc Marine Group

Fincantieri - Cantieri Navali Italiani S.p.A., a leader in the commercial and naval shipbuilding industry, signed a definitive acquisition agreement to acquire the Manitowoc Marine Group (MMG), from its parent company, The Manitowoc Company, Inc. [NYSE: MTW]. Lockheed Martin Corporation [NYSE: LMT] has agreed to be a minority investor with Fincantieri in the proposed acquisition. The transaction, that is valued at approx. $120m (subject to certain closing adjustments), is an all-cash deal that is anticipated to close at the end of 2008. The Boards of Directors of Fincantieri and have approved the terms of the agreement. The transaction is subject to customary closing conditions, including clearance from the antitrust authorities.

29 Jul 2008

Freedom (LCS 1) Begins Builder's Sea Trials

Freedom (LCS 1), starboard view.  Photo Credit:  Lockheed Martin

The nation's first Littoral Combat Ship, Freedom (LCS 1) was put to sea for the first time, marking the beginning of Builder's Sea Trials for the first-in-class coastal surface combatant. The 378-ft. Freedom, designed and built by a Lockheed Martin Lockheed Martin Corporation-led industry team, is conducting Builder's Sea Trials in Lake Michigan. The trials -- which are a coordinated effort between the U.S. Navy and the Lockheed Martin team -- will include operational testing of the vessel's propulsion, communications, navigation and mission systems, as well as all related support systems.

28 May 2004

Navy Announces Flight 0 LCS Contract Awards

Lockheed Martin Corporation – Maritime Systems & Sensors, Moorestown, N.J. ($46,501,821) and General Dynamics - Bath Iron Works, Bath, Maine ($78,798,188) are each being awarded contract options for final system design with options for detail design and construction of up to two Flight 0 Littoral Combat Ships (LCS). "Today’s Littoral Combat Ship decision represents an important milestone for the warfighter and the acquisition team," said John Young, assistant secretary of the Navy for research, development and acquisition. "The acquisition team is successfully changing how we buy ships – completing the source selection on schedule and developing affordable designs that can adapt to changing technology.

12 Oct 2001

Comsat Granted Access to Domestic U.S. Market

Ruling Provides More Satellite Communications Options to Agencies, Relief Organizations and Businesses Operating in the U.S. Comsat Mobile Communications (CMC), a business unit of Lockheed Martin Global Telecommunications, announced that it has received authority from the FederalCommunications Commission (FCC) to provide domestic land mobile, maritime, and aeronautical mobile satellite communications services throughout the United States and its territories via the Inmarsat satellite system. This authority is granted in anticipation of the conduct of an IPO by Inmarsat as required by the 2000 Federal ORBIT Act. All of CMC's voice, data, and high-speed data services -- including Direct Internet access, e-mail, and fax -- are included in this ruling.

16 Jul 2008

AAPA Port Security Seminar & Expo Set for Houston

The American Association of Port Authorities' (AAPA) 12th Port Security Seminar and Exhibition, is being held in , July 16-18. The expo plans to address concerns focusing on the security and safety challenges confronting public seaport agencies and marine terminal operators throughout the . The seminar will also feature a day-long exhibition on July 17 to showcase the latest security trends, technologies and products in the seaport industry. Some of the key topics to be discussed include implementing the Transportation Worker Identification Credential (TWIC) program (including the devices that will eventually "read" the embedded biometrics in TWIC identification cards)…