Space News Top 50 Ranking: 2

Financials: Lockheed Martin's space-related sales extended their decline in 1999. The company's space business generated $5.8 billion in revenue last year, about 23 percent of Lockheed's total sales of $25.5 billion.

Space Business: Lockheed historically has been a supplier of spacecraft and launch services to commercial customers and the U.S. government, but in August 1998 the company created a new unit, Lockheed Martin Global Telecommunications --  including recent acquisition Comsat Corp. -- to focus on satellite and other communications services.

Results at Lockheed Martin's spacecraft manufacturing business have sagged in recent years, the result of a series of technical problems with several satellites and unsuccessful rocket launches that delayed the launches of certain spacecraft.

Lockheed Martin also is supplying solar panels for the International Space Station as a subcontractor to Boeing Co. and is a 50-50 partner with Boeing in United Space Alliance LLC, which runs the U.S. space shuttle program.

The company operates the Atlas series of rockets and the Titan heavy-lift launcher, and markets services on Russia's Proton rocket. Lockheed Martin Missiles & Space builds communications and other satellites, which the company markets to the increasingly competitive and busy commercial satellite industry.

Stock Quote: LMT

Recent Headlines:

April 5 -- Lockheed Aims at NATO Missile Defense Contract
Mar. 28 -- Lockheed Martin To Cut Jobs in Denver
Mar. 13 -- U.S. Air Force Says Delta 4 Still on Track
Mar. 7 -- Harris Named President of Lockheed Martin Sunnyvale Unit