Lockheed Martin CEO Marillyn Hewson arrives for a meeting with US President-elect Donald Trump at Trump Tower in New York on January 13, 2017.Mike Segar/Reuters
Business Insider: There’s no business like the arms business — here’s how the Pentagon’s top weapon supplier did
WASHINGTON — On Tuesday, Lockheed Martin beat on both the top and bottom lines in its quarterly earnings — a result that comes after President Donald Trump criticized America’s priciest weapons system and the crown jewel in the defense giant’s portfolio: the F-35 Lightning II.
Here’s some background prior to Tuesday’s earnings …
On October 26, 2001, the Pentagon awarded Lockheed Martin a contract worth more than $200 billion to build the next-generation stealth strike-fighter.
The Pentagon’s request was colossal: Develop a supersonic fifth-generation aircraft with the capability to replace four existing US military aircraft but also to be used by multiple international partners.
What’s more, design three variants of the fighter in order to accommodate the unique needs of each sister-service branch: the F-35A for the Air Force, F-35B for the amphibious Marine Corps, and F-35C for the Navy.
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WNU Editor: Too big to fail?
