For an unprecedented third year in a row, Lockheed Martin was named Top-Performing Company in the "Revenues Greater than $20 Billion" category by AVIATION WEEK.
Companies were rated in several categories that relate to operational excellence in program management, budget and schedule discipline, risk management, fair-price acquisitions, scale and common process, supplier innovation and operational excellence.
The award was presented to Lockheed Martin by AVIATION WEEK's President Tom Henricks and Senior Business Editor Joseph C. Anselmo at the Farnborough International Airshow in England, yesterday.
"On behalf of Bob Stevens, our Chairman & CEO, we are honored to receive this recognition. To receive it for the third year in a row is particularly gratifying," said Lockheed Martin Aeronautics Executive Vice President Ralph Heath.
Launched in 1996, AVIATION WEEK's Top-Performing Companies study identifies relative strengths and weaknesses in aerospace & defense companies' operational performance and evaluates how well they are executing business strategies. Proprietary metrics have been refined over the past 14 years with input from industry leaders to include scores in four equally weighted performance categories: return on invested capital, earnings momentum, asset management, and financial health. The data and rankings are a frequently cited industry baseline for determining which companies are likely to flourish and those that are still vulnerable.
Headquartered in Bethesda, Maryland, Lockheed Martin employs about 136,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation reported 2009 sales of $45.2 billion.
