Lockheed Martin’s Revenue by Segment (2016-2023)

This statistic highlights Lockheed Martin’s Revenue by Segment from Q1 2016 onwards, split between Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space, on a quarterly basis.

Lockheed Martin Corporation is an American aerospace and global security company. They also offer a range of services such as technical services, engineering, scientific re, logistics, system integration, and cybersecurity.

Lockheed Martin’s Revenue by Segment

The business segments include:

• Aeronautics
• Missiles and Fire Control (MFC)
• Rotary and Mission Systems (RMS)
• Space

 (Figures in billions, except percentages)

Lockheed Martin’s revenue increased from $15.65 billion in Q1 2020 to $16.26 billion in Q1 2021, marking a 3.9% increase.

Aeronautics

Lockheed Martin’s revenue from Aeronautics during Q1 2021 stood at $6.39 billion which was an increase of 0.3% from the $6.37 billion generated during Q1 2020. During this period revenue increased for classified contracts due to higher volume and the F-16 program due to increased volume of production contracts that were partially affected by a decrease in volume of sustainment contracts.

The increase in revenue was affected by low revenue from the F-35 program, due to the inception-to-date effect of reducing the profit booking rate on a development contract, lower volumes of development, and production contracts. It was also affected due to a decrease in the volume of sustainment contracts for the F-22 program.

The Aeronautics segment consists of the F-35 Lightning II Joint Strike Fighter, an international multi-role, multi-variant, stealth fighter aircraft. They also carry out advanced development programs incorporating innovative design and rapid prototype applications.

Missiles and Fire Control (MFC)

Lockheed Martin’s revenue from MFC during Q1 2021 was $2.75 billion, which was an increase of $130 million, or 5%, compared to $2.62 billion in Q1 2020. The increase during this period was due to higher revenue from integrated air and missile defense programs, increased volume on Patriot Advanced Capability-3 (PAC-3), and tactical and strike missile programs. These increases were affected by a decrease in revenue from sensors and global sustainment programs as a result of decreased volume on LANTIRN and SNIPER.

Missiles and Fire Control offers air and missile defense systems, air-to-ground precision strike weapon systems, tactical missiles, mission operations support, engineering support, logistics fire control systems, and integration services, ground vehicles, and energy management solutions.

Rotary and Mission Systems (RMS)

Lockheed Martin’s revenue from the Rotary and Mission Systems segment amounted to $4.11 billion during Q1 2021. An increase of $361 million, or 9.6%, from $3.75 billion during Q1 2020. This increase was due to high revenue from training and logistics solutions programs, as a result of the delivery of an international pilot training system and due to higher volume on production contracts for Sikorsky helicopter programs (VH-92A, CH-53K, and CRH).

The increases were affected by due to a lower volume of various C6ISR programs (command, control, communications, computers, cyber, combat systems, intelligence, surveillance, and reconnaissance), and for integrated warfare systems and sensors programs, due to lower volume on the LCS and TPQ-53 programs that were affected by higher volume on the Canadian Surface Combatant and Aegis program.

Rotary and mission systems consist of various programs like helicopters, integrated missile and defense, littoral, electronic and undersea warfare, radars, C6ISR, cyber solutions, and training and logistics systems.

Space

Lockheed Martin’s Space segment generated revenue of $3.02 billion in Q1 2021 against $2.92 billion generated in Q1 2020. This was an increase of $98 million, or 3.4% on a year-on-year basis. The increase was primarily attributable to higher revenue from the AWE program, and from Commercial Civil Space programs (largely by Space Transportation programs).

Lockheed Martin’s Space segment generated revenue of $3.02 billion in Q1 2021 against $2.92 billion generated in Q1 2020. This was an increase of $98 million, or 3.4% on a year-on-year basis.

The research, design, development, and production of satellites, space transportation systems and strategic and defensive systems come under the Space segment. It also provides network-enabled situational awareness and integrates complex space and ground global. It provides various classified systems and services which are used to support national security systems.

Company overview

Lockheed Martin Corporation was formed by the amalgamation of Lockheed Corporation with Martin Marietta in March 1995. Its headquarter is located at North Bethesda, Maryland, in Washington D.C. It employs nearly 110,000 employees worldwide. They design, manufacture, research, and develop advanced technology systems, products, and services. The company has also made investments in healthcare, renewable energy, intelligent energy distribution, and compact nuclear fusion. They design, manufacture, research, and develop advanced technology systems, products, and services. The company caters to both U.S. and international customers with products and services that have defense, civil and commercial applications. Their key customers are the US government agencies.

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