The world’s largest defense contractor recorded total year end losses of $1.4 billion on a classified program in its missiles and fire control (MFC) portfolio as well as $555 million overrun on a program in its aeronautics division, Lockheed said in a news release.
By Valerie InsinnaHow L3Harris is empowering the U.S. Space Force to stay ahead
How cutting-edge technology from L3Harris is enabling rapid data processing—and faster, more informed decisions in space defense operations.
Lockheed CEO Jim Taiclet said it was “essential for the health of [its] lower tier suppliers” to keep F-35 production going at pace, even if the company has to use its own money for now.
By Valerie Insinna
Lockheed CFO Jay Malave said the company currently expects the program to become profitable on an annual basis around the 2028 timeframe.
By Valerie Insinna
As many as 120 F-35s could be “undelivered” in 2024 as a result of delays with the stealth fighter’s Technology Refresh 3 upgrade, according to Lockheed Martin Chief Financial Officer Jay Malave.
By Michael Marrow
“How in the hell do you lose an F-35?”
By Michael Marrow
“This is a broad and in a way campaign-like approach to strengthening our own supply chain and enabling multiple sources, really for even beyond our company for our industry, which I think is important,” Lockheed Martin CEO Jim Taiclet said of his firm’s endeavor to field a new solid rocket motor supplier.
By Michael Marrow
After failed bid to buy Aerojet Rocketdyne, Lockheed is “endeavoring… to create another supplier,” CEO Jim Taiclet told lawmakers.
By Michael Marrow
Enabling seamless operations across land, air, sea, space, and cyber
The real advantage comes when legacy, new, next generation and cutting-edge systems can work together in the battlespace.
Lockheed CEO Jim Taiclet also said that TR-3 upgrade delays for the Joint Strike Fighter stemmed from late hardware, compressing the schedule for software testing.
By Michael Marrow
After a bit of a corporate dust-up in Paris, Lockheed CEO Jim Taiclet told investors his firm has no “formal” position on how the F-35 engines should be modernized.
By Michael Marrow
Lockheed’s High Mobility Artillery Rocket System and Guided Multiple Launch Rocket System (GMLRS) — as well as the the Javelin anti-tank missile system it co-produces with Raytheon — are seeing “significant” interest from foreign customers and the US military, Lockheed CEO Jim Taiclet said.
By Valerie Insinna
“We have to be comfortable as taxpayers funding production lines to produce things that the US may never use. And that’s something that we as a country have to struggle with,” said Pentagon acquisition chief Bill LaPlante.
By Valerie Insinna
“It’s not just Lockheed Martin,” Lockheed CEO Jim Taiclet said. “Industry is willing to invest in efficiency. It’s willing to invest in capacity. But the constraints of the Federal Acquisition Regulation limit our ability to invest and get great [return on investment] for investors while helping the government.”
By Valerie Insinna
In an exclusive interview, Lockheed’s head of 5G programs described a first demonstration in December, in which Lockheed and Microsoft connected commercial 5G with military datalinks such as Link 16 for simulated missions.
By Valerie Insinna
Lockheed’s decision could leave Aerojet looking for another buyer as it tries to manage an internal struggle between executives.
By Valerie Insinna
