Founded in 1909, the Glenn Martin Company pioneered research and development of aircraft. Seven years later the Loughead Aircraft Manufacturing Company was founded and later changed its name to the phonetic spelling Lockheed. Both companies played significant roles in the development of aviation technology. After supplying aircraft and weapons to the U.S. and its allies during the two World Wars, Lockheed and the Glenn Martin Company made great strides in the fields of jet aircraft, rocketry, and space flight. Overall, the two companies became leaders in the defense industry by developing advanced fighter aircraft, missiles, and space vehicles. This status has only been reaffirmed since the companies merged in 1995.
On August 29, 1994 the Lockheed Corporation and the Martin Marietta Corporation announced that the two companies would merge into Lockheed Martin. The deal was finalized on March 15, 1995. Since its founding in 1995, Lockheed Martin has continued to expand, including the acquisition of the Loral Company on April 23, 1996. The most recent addition to Lockheed Martin was the July 3, 1997 announcement that it would combine with Northrop Grumman in an $11.6 billion transaction.
(To view a detailed chart of the Company's genealogy, click here)