1. Company Background- August 16, 1912, Glenn Martin created the Glenn L. Martin Company in Los Angeles, California. He started the company after building his first plane in a rented church. He was urged by Orville Wright to take flight of his new innovative aircraft. In the 1930’s Lockheed Martin produced the P-38 lighting which was the company’s first fighter plane and helped in WWII. 1962 Lockheed Martin produced the SR-71 for the CIA to conduct top secret missions. After September 11, 2001 Lockheed Martin was selected by the FAA to upgrade air traffic control management. 2. Markets- Lockheed Martin’s market is very vast; it deals with all branches of the military, government agencies and private companies. Lockheed Martin produces airplanes for the Air Force and Marines. It continually updates air traffic control programs for the FAA. Lockheed Martin has built, sold, and used the GPS IIR satellites that are known worldwide for assistance is navigations. 3. Competition- Lockheed Martin’s biggest competitor is Boeing corp. Both companies are powerhouse in the aircraft world. They continuously compete for contracts with the military and government. They also have joined in contracts just as they did with the production of the F-22 Raptor. General Dynamics and Raytheon are also competitors that compete with Lockheed Martin. SWOT Analysis
1. Company's Greatest Strength
Lockheed Martin draws strength through diversity of its employees and its suppliers. They have a well balanced business portfolio. Their market position is unmatched by its competitors. They have a strong code of ethics that is practiced throughout the entire company. 2. Company's Biggest Weakness
Lockheed Martin has 85% of its revenue from one source. This source is the United States government and having 85% of revenue from one source is a negative. Revenue per employee significantly lower compared to its competitors. The company...