Lockheed Martin Corporation
playerMoney & Finance · Defense & Military-Industrial · Darknet & Cyber
The proof the government engineers the arms market: it lets giants form but blocks the last merger that would make a monopoly.
Who they are
Lockheed Martin, the largest defense contractor by revenue.
What they do
In the engine's read, it's the prime example of a deliberately managed defense oligopoly.
How it works
With 2023 net sales of $67.6 billion and a record $160.6 billion backlog, it was formed by the 1995 merger of Lockheed and Martin Marietta (whose CEO coined the 'Last Supper' name), then absorbed Loral (1996) and Sikorsky (2015); a further 1998 merger with Northrop was blocked by the Justice Department and Pentagon, showing the state permits oligopoly but stops pure monopoly. Its major shareholders are the same Big Three (BlackRock, Vanguard, State Street).
Why it matters
It shows the government actively shaping how concentrated the arms industry is, not leaving it to the free market.
The engine's record — word for word
Report #87. Largest defense contractor by revenue. **2023 net sales $67.6 billion** (corrected from re-run report's $70.8B figure per LMT Q4 2023 earnings release Jan 23 2024). 2023 record backlog $160.6B. Formed by 1995 merger of Lockheed Corporation (CEO Daniel Tellep proposed the merger) and Martin Marietta (CEO Norm Augustine — coined 'Last Supper' name). Subsequent acquisitions: Loral 1996, Sikorsky 2015. **Failed merger:** Lockheed-Northrop 1998 blocked by DOJ + DoD (proves state actively manages the competition floor — permits oligopoly but prevents pure monopoly). Major programs: F-35 Lightning II, F-22 Raptor, AGM-183 ARRW hypersonic, missile systems, classified Skunk Works. Big Three (BlackRock + Vanguard + State Street) major shareholders consistent with engine concentration pattern. Lead underwriter consortium: Goldman Sachs + JPMorgan + Morgan Stanley.
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