U.S. Government was Lockheed Martin’s largest segment in fiscal 2025, bringing in $38.61B of $61.47B (63%).
| Segment | FY 2014 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| U.S. Government | $36.05B | $24.76B | $24.44B | $38.61B | ||||||
| International | $17.62B | $53.36B | $55.39B | $21.83B | ||||||
| U.S. Commercial & Other | $1.77B | $1.60B | $1.63B | $1.02B | ||||||
| United States Commercial & Other | — | — | — | — | ||||||
| Total | $55.44B | $79.72B | $81.46B | $61.47B |
Lockheed Martin brought in $61.47B from its three segments in fiscal 2025, the year ended December 31, 2025. That was down 24.5% from $81.46B in fiscal 2024. U.S. Government was the largest at $38.61B (62.8%), ahead of International at $21.83B (35.5%) and U.S. Commercial & Other at $1.02B (1.7%).
Compared with fiscal 2024, U.S. Government grew 58.0% to $38.61B, while International fell 60.6% to $21.83B. From fiscal 2022 to 2025, combined revenue from these segments grew from $55.44B to $61.47B, a compound annual growth rate of 3.5%. U.S. Government's share of the total fell from 65.0% to 62.8%.
Fixed-Price was Lockheed Martin’s largest revenue line in fiscal 2025, bringing in $40.79B of $60.51B (67%).
| Contract With Customer Basis Of Pricing | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Fixed-Price | $38.86B | $37.33B | $39.21B | $40.79B | |||||
| Cost-Reimbursable | $16.94B | $18.66B | $18.03B | $19.73B | |||||
| Total | $55.80B | $55.99B | $57.24B | $60.51B |
Lockheed Martin brought in $60.51B from its two revenue lines in fiscal 2025, the year ended December 31, 2025. That was up 5.7% from $57.24B in fiscal 2024. Fixed-Price was the largest at $40.79B (67.4%), ahead of Cost-Reimbursable at $19.73B (32.6%).
Compared with fiscal 2024, Cost-Reimbursable grew 9.4% to $19.73B and Fixed-Price grew 4.0% to $40.79B. From fiscal 2022 to 2025, combined revenue from these revenue lines grew from $55.80B to $60.51B, a compound annual growth rate of 2.7%. Fixed-Price's share of the total fell from 69.6% to 67.4%.
Products was Lockheed Martin’s largest product and service line in fiscal 2025, bringing in $49.23B of $60.51B (81%).
| Product and Service | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Products | $45.74B | $45.52B | $28.01B | $49.23B | ||||||
| Services | $8.23B | $9.43B | $33.57B | $11.28B | ||||||
| Total | $53.97B | $54.95B | $61.58B | $60.51B |
Lockheed Martin brought in $60.51B from its two product and service lines in fiscal 2025, the year ended December 31, 2025. That was down 1.7% from $61.58B in fiscal 2024. Products was the largest at $49.23B (81.4%), ahead of Services at $11.28B (18.6%).
Compared with fiscal 2024, Products grew 75.8% to $49.23B, while Services fell 66.4% to $11.28B. From fiscal 2022 to 2025, combined revenue from these lines grew from $53.97B to $60.51B, a compound annual growth rate of 3.9%. Products' share of the total fell from 84.7% to 81.4%.
Lockheed Martin (LMT) reports its revenue by segment, by contract with customer basis of pricing and by product and service. In fiscal 2025, U.S. Government was its largest segment, bringing in $38.61B (62.8% of the total), followed by International at $21.83B (35.5%).
U.S. Government was Lockheed Martin's largest segment in fiscal 2025, bringing in $38.61B, or 62.8% of the $61.47B total across its three segments.
Fixed-Price was Lockheed Martin's largest revenue line in fiscal 2025, bringing in $40.79B, or 67.4% of the $60.51B total across its two revenue lines.
Products was Lockheed Martin's largest product and service line in fiscal 2025, bringing in $49.23B, or 81.4% of the $60.51B total across its two product and service lines.
U.S. Government grew faster than International in fiscal 2025, up 58.0% from $24.44B to $38.61B. International fell 60.6% to $21.83B.
Every figure comes from Lockheed Martin's annual financial filings, as reported. Each line keeps the name Lockheed Martin gives it, and years follow its fiscal calendar.
Lockheed Martin's revenue by segment goes back to fiscal 2014, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.