How old is lockheed martin




















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Martin, who never married, died of a stroke in at the age of Known as the M, the bomber was given the Air Force designation B Martin built a number of scout and patrol planes, including the P5-M and P6-M flying boats, and expanded its interest in the development of rockets and missiles.

One of Martin's first projects in this area was the Viking high-altitude research rocket, followed by the Vanguard missile. By the s the company was a leader in the manufacture of second generation rockets like the Titan II. Despite the company's return to profitability after the Korean War, the larger airplane manufacturers such as Boeing, Douglas and Lockheed had the advantage of size, which allowed them to compete more effectively with smaller companies like Martin, Vought and Grumman.

These smaller companies, however, retained very different kinds of engineering teams which allowed them to continue developing unique aeronautic equipment and weapons systems. The company was largely unsuccessful in achieving diversification in anything but its number of government customers. Martin aircraft was subject to the whims of the Department of Defense with its unstable pattern of purchases. By December of Martin's last airplane, a Navy P5M-2 antisubmarine patrol plane, rolled off the production line.

From this point forward the company produced only missiles, including the Bullpup, Matador, Titan and Pershing among them. The Martin Company diversified through a merger with the American-Marietta Corporation, a manufacturer of chemical products, paints, inks, household products and construction materials, in After convincing the government that the merger would not reduce competition in any of either company's industries, the two companies formed Martin Marietta.

The diversification continued in with the purchase of Harvey Aluminum. The name of the subsidiary was changed to Martin Marietta Aluminum in Martin Marietta became known for its space projects, but remained a major producer of aluminum and construction materials, during the late s and early s.

In the company's aerospace unit was selected to lead construction of the two Viking capsules which landed on Mars in In the company was awarded a contract to build the external fuel tank for NASA's space shuttles. Thomas G. Pownall advanced to the presidency of Martin Marietta in and chief executive officer in , succeeding J. Donald Rauth. The same year Martin Marietta faced the most significant challenge to its existence in its history--a hostile takeover bid from the Bendix Corporation.

Martin Marietta responded with a surprising turnabout. Pownall and Gray agreed to divide Bendix among them in the event that either Martin Marietta or United Technologies was successful in taking over Bendix. The takeover was stalemated until a three-way deal was arranged wherein the Allied Corporation agreed to purchase Martin Marietta's holdings in Bendix on the condition that Bendix abandon its bid for Martin Marietta. The deal left Allied with a 39 percent ownership of Martin Marietta, but it was agreed that Allied's voting share would be directed by Martin's board until such time that Allied could sell its interest in Martin.

Bill Agee joined Allied's board of directors but later left the company. In order to reduce the company's debt load, Pownall divested its cement, chemical and aluminum operations, and accelerated a reorganization begun before the takeover crisis.

Throughout the s, Lockheed Martin was involved in multiple acquisitions, strengthening their power and position in their industry. They acquired Beontra AG in , providing them with forecasting tools and planning tools. This made it possible for them to begin providing technology and science payloads to the moon.

Finally, on April 11, , they launched an Arabsat-6A satellite. This is one of the most advanced communications satellites that Lockheed Martin has ever built. They work for more than 24 agencies and are involved in information processing and surveillance for multiple agencies.



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