First Quarter 2024 Earnings Highlights

First Quarter 2024:

Lockheed Martin Boosts Mission Efficiency with Defense Tech

April 23, 2024

Through 21st Century Security ®, Lockheed Martin advances mission effectiveness for customers. Here are a few examples from the beginning of 2024.


Advancing Defense Tech   |   Advancing Worldwide Partnerships   |   Groundbreaking Innovations   |    Impacting Communities   |   Video Highlights


Advancing Defense Tech

  1. Next Generation Interceptor: With a mission to protect the nation against evolving ballistic missile threats, the team was selected to provide the Next Generation Interceptor. Lockheed Martin will highlight this major award in second-quarter earnings in July.
  2. 1LMX in Action: Lockheed Martin utilizes digital transformation and AI to expedite production of high-demand products (GMLRS, HIMARS, and Javelin).
  3. The Shield of the Fleet: The U.S. military reached a remarkable milestone during one of its most complicated ballistic missile defense tests to date using Lockheed Martin’s Aegis Combat System. In the test, called Stellar Sisyphus, Aegis tracked and intercepted a Medium Range Ballistic Missile, even as multiple decoys were fired off to confuse it.
  4. Double Shot: In its first operational test, the U.S. Army fired two unitary warhead Extended-Range (ER) GMLRS variants from a HIMARS demonstrating precision and advancing this capability closer to production. 
  5. Protecting the Homeland: Lockheed Martin officially handed over the Long Range Discrimination Radar (LRDR) to the Missile Defense Agency. This is in preparation for an Operational Capability Baseline (OCB) decision and final transition to the soldier. Before this transition, the system started collecting Space Domain Awareness data for the United States Space Force.


Major Program Awards

Advancing Worldwide Partnerships

  1. Global Growth: In January, the Czech Republic government signed a Letter of Offer and Acceptance (LOA) making official its intent to procure 24 Lockheed Martin 5th Generation F-35 Lightning II aircraft. Through a U.S. government Foreign Military Sale, the Czech Air Force will receive its first F-35 in 2031. 
  2. State of the Art: Lockheed Martin is bringing advanced factory technology to Australia through a contract to manufacture guided weapons.  
  3. Falcon Forward: Bahrain’s first three F-16 Block 70 jets ferried from Greenville, South Carolina, to Bahrain, while Slovakia’s first two jets were formally presented to Slovakia’s deputy prime minister and minister of defense, Robert Kaliňák, in a ceremony. In January, a Romanian pilot who was trained at the European F-16 Training Center achieved a successful flight using an F-16 provided by the Royal Netherlands Air Force.
  4. Proven Workhorse: We delivered the first of four C-130J-30 Super Hercules tactical airlifters with the Block 8.1 upgrade to the Royal Norwegian Air Force.

Lockheed Martin’s people are the force behind these high-performing products and platforms. 

NATO Secretary General Jens Stoltenberg at the Lockheed Martin Facility in Troy, Alabama, 31 January 2024.
Ethics in Engineering 2024 Competition
2024 Code Quest Competition
2024 Code Quest Competition
2024 Cyber Quest Competition
Lockheed Martin Australia Chief Executive Warren McDonald addresses media, with Air Marshal Leon Phillips, Chief of GWEO, the Hon Pat Conroy MP, Minister for Defence Industry, and Major General Richard Vagg, Head Land Capability.
Slovakia’s first two F-16s formally presented to Slovakia’s deputy prime minister and minister of defense, Robert Kaliňák, in a ceremony.
Lockheed Martin Skunk Works® (NYSE: LMT) rolled out the X-59, a unique experimental aircraft designed to quiet the sonic boom, at a ceremony in Palmdale, California. The ceremony marked a significant milestone in Lockheed Martin and NASA’s decades-long journey to solve one of the most persistent challenges of supersonic flight – the sonic boom.

Groundbreaking Innovations

  1. Redefining Supersonic Flight: Lockheed Martin Skunk Works® team rolled out the X-59, a unique experimental aircraft designed to quiet the sonic boom, at a ceremony in Palmdale, California.
  2. JADO in Practice: Pony Express 2, Lockheed Martin’s latest self-funded tech demo satellite launched and is intended to showcase how space can enhance Combined Joint All-Domain Command and Control (CJADC2), and keep our warfighters connected from space.
  3. Commercial Ventures: Working with Red 6, Lockheed Martin completed a groundbreaking effort to integrate the latest Red 6 augmented reality (AR) training technology with a TF-50 simulator. This phase-one milestone facilitates broader evaluation of AR applications and accelerates their integration into the TF-50 aircraft design – all in support of increasing pilot readiness with the least amount of flight hours.
  4. Future of Vertical Takeoff: Sikorsky unveiled its plan to build, test and fly a hybrid-electric vertical takeoff and landing demonstrator (HEX / VTOL) with a tilt-wing configuration. The design is the first in a series of large, next generation VTOL aircraft — ranging from more traditional helicopters to winged configurations — which will feature varying degrees of electrification, and an advanced autonomy system for optionally piloted flight. 
  5. Most Innovative: Lockheed Martin’s world-class team was recognized by a top publication for being one of America’s most innovative. From the inside out, innovation and scientific excellence are essential to insuring security, maintaining an effective deterrent to armed conflict, and sustaining leadership in space exploration.

Impacting Communities

  1. Inspiring the Next Generation: Lockheed Martin hosted Code Quest, CYBERQUEST® and the Ethics in Engineering Case Competition. All events are designed to provide high school and/or college students with unique opportunities to flex their programming or engineering acumen, sharpen collaboration skills and build their network.
  2. Diversity Driving Innovation: Lockheed Martin’s business resource groups are an essential part of its culture. The Black Excellence Council and Women’s Impact Network hosted leadership forums where hundreds of teammates gathered in-person and virtually to network, learn and inspire each other. 

Video Highlights