The Island-class patrol boat is a class of cutters of the United States Coast Guard . 49 cutters of the class were built, of which 3 remain in commission. Their hull numbers are WPB-1301 through WPB-1349.
55-718: The USCGC Mustang (WPB-1310) is an Island-class cutter of the United States Coast Guard , the tenth ship of her class. She was commissioned in September 1986 and is stationed in Seward, Alaska , in the north of the Gulf of Alaska . Mustang is one of seven Island-class patrol boats in Alaska. Her primary objective is maritime safety , though she is a multiple-role ship. Mustang is named after Mustang Island ,
110-522: A False Claims Act lawsuit paying $ 27.5 million to finalize allegations that it had knowingly overbilled taxpayers for work performed by company staff who did not hold the relevant essential qualifications for the contract. The board of directors consists of 14 members. As of February 2016, members include: As of December 2023, Lockheed Martin shares are mainly held by institutional investors ( State Street Corporation , Vanguard group , BlackRock , Capital Group Companies , and others). Lockheed Martin
165-562: A hypersonic weapon prototype. A hypersonic missile can travel at one mile a second. This is the second contract for hypersonic weapons that Martin has secured; The first was from the Air Force as well and for $ 928 million which was announced in April 2018. On November 29, 2018, Lockheed Martin was awarded a Commercial Lunar Payload Services contract by NASA , which makes it eligible to bid on delivering science and technology payloads to
220-562: A $ 2.2 billion contract with the United States Air Force for two advanced military communications satellites. Lockheed Martin has already begun to help the military transition to renewable energy sources with solar photovoltaic powered microgrids and as the military aims to reach 25% renewable energy by 2025 in order to improve national security . On March 3, 2012, the U.S. Department of Justice (DOJ) said that Lockheed Martin had agreed to settle allegations that
275-463: A bankruptcy court received no bids by the February 21 deadline. On March 16, 2020, Lockheed Martin announced that James D. Taiclet would replace Marillyn Hewson as CEO, effective June 15. In January of 2021, Taiclet became chairman of the company as well. On December 20, 2020, it was announced that Lockheed Martin would acquire Aerojet Rocketdyne Holdings for $ 4.4 billion. The acquisition
330-586: A barrier island on the Gulf Coast of Texas. The Island-class patrol boats were constructed in Bollinger Shipyards , Lockport, Louisiana . Mustang has an overall length of 110 feet (34 m). It had a beam of 21 feet (6.4 m) and a draft of 7.3 feet (2.2 m) in 2020. At that time, the patrol boat displaced 165 tonnes (162 long tons; 182 short tons) at full load. She is powered by two Paxman Valenta 16 CM diesel engines developing
385-401: A close. In May 2017, during a visit to Saudi Arabia by President Donald Trump, Saudi Arabia signed business deals worth tens of billions of dollars with U.S. companies, including Lockheed Martin. (See: 2017 United States–Saudi Arabia arms deal ) On August 13, 2018, Lockheed Martin announced that the company had secured a $ 480 million contract from the United States Air Force to develop
440-477: A cost of $ 7.1 billion. The Pentagon has criticized the acquisition as causing a reduction in competition. In November 2015, the acquisition received final approval from the Chinese government, with a total cost of $ 9 billion. Dan Schulz was named the president of Lockheed Martin's Sikorsky company. Lockheed Martin has shown sketches for a twin-engine, blended wing body strategic airlifter similar in size to
495-763: A fine of $ 20 million following his guilty plea. On February 20, 2013, Lockheed Martin Corp complied with the United States District Court for the Southern District of New York , agreeing to pay a $ 19.5 million lawsuit to conclude a securities fraud class-action legal battle that had accused the company of deceiving shareholders in regards to expectations for the company's information technology division. On December 20, 2014, Lockheed Martin Integrated Systems agreed to settle
550-399: A market cap of around $ 139.7 billion. Lockheed Martin is one of the largest companies in the aerospace, military support, security, and technologies industry. It was the world's largest defense contractor by revenue for fiscal year 2014. In 2013, 78% of Lockheed Martin's revenues came from military sales; it topped the list of US federal government contractors and received nearly 10% of
605-599: A nine–year investigation conducted by NASA's Office of Inspector General with the assistance of the Defense Contract Audit Agency. The company paid the United States government $ 7.1 million based on allegations that its predecessor, Lockheed Engineering Science Corporation, submitted false lease costs claims to NASA. On May 12, 2006, The Washington Post reported that when Robert Stevens took control of Lockheed Martin in 2004, he faced
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#1732791238355660-599: A provider of integrated planning and demand forecasting tools for airport, planning to expand their business in commercial airport information technology solutions. Also, in March 2014, Lockheed Martin announced its acquisition of Industrial Defender Inc. On June 2, 2014, Lockheed Martin received a Pentagon contract to build a space fence that would track debris, keeping it from damaging satellites and spacecraft. On July 20, 2015, Lockheed Martin announced plans to purchase Sikorsky Aircraft from United Technologies Corporation at
715-422: A total of 5,760 hp (4,295 kW) at 1500 RPM. It has two 99 kilowatts (135 PS; 133 shp) 3304T diesel generators made by Caterpillar; these can serve as motor–generators . Her hull is constructed from highly strong steel, and the superstructure and major deck are constructed from aluminium. The Island-class patrol boats have maximum sustained speeds of 29.5 knots (54.6 km/h; 33.9 mph). She
770-611: Is an American defense and aerospace manufacturer with worldwide interests. It was formed by the merger of Lockheed Corporation with Martin Marietta in March 1995. It is headquartered in North Bethesda, Maryland . As of January 2022, Lockheed Martin employs approximately 115,000 employees worldwide, including about 60,000 engineers and scientists. Reports from 2024 estimate that Lockheed Martin Corporation (LMT) holds
825-414: Is armed with one 25 millimetres (0.98 in) cannon and two 7.62 millimetres (0.300 in) M60 light machine guns; she may also be fitted with two Browning .50 Caliber Machine Guns . She is equipped with satellite navigation systems, collision avoidance systems, surface radar, and a Loran C system. She has a range of 3,330 miles (2,890 nmi; 5,360 km) and an endurance of five days. Her complement
880-597: Is expected to be completed by December 2020. In January 2020, the Pentagon found at least 800 software defects in Lockheed Martin's F-35 fighter jets owned by the US Armed Forces during an annual review. The 2018 and 2019 reviews revealed a large number of defects as well. In February 2020, Lockheed Martin acquired Vector Launch Inc 's satellite software technology GalacticSky for $ 4.25 million after
935-475: Is listed as the largest U.S. government contractor and ranks first for the number of incidents, and fifth for the size of settlements on the 'contractor misconduct' database maintained by the Project on Government Oversight , a Washington, D.C.–based watchdog group. Since 1995, the company has agreed to pay $ 676.8 million to settle 88 instances of misconduct. In 2013, Lt. Gen. Christopher Bogdan criticized
990-471: Is sixteen (two officers and fourteen crew members). Island-class patrol boats are based on Vosper Thornycroft 33 metres (108 ft) patrol boats and have similar dimensions. Island-class cutter The 110 feet (34 metres) Island-class patrol boats are a U.S. Coast Guard modification of a highly successful British-designed Vosper Thornycroft patrol boat built for Qatar , Abu Dhabi , and Singapore . With excellent range and seakeeping capabilities,
1045-549: The Phoenix and InSight Mars landers. On April 11, 2019, at 6:35 pm EDT, an Arabsat-6A satellite was successfully launched from (LC-39A) . This satellite is one of two, the other being SaudiGeoSat-1/HellasSat-4 and they are the "most advanced commercial communications satellites ever built by" Lockheed Martin. On September 23, 2019, Lockheed Martin and NASA signed a $ 4.6-billion contract to build six or more Orion capsules for NASA's Artemis program to send astronauts to
1100-690: The Collier Trophy six times, including in 2001 for being part of developing the X-35 / F-35B LiftFan Propulsion System and most recently in 2018 for the Automatic Ground Collision Avoidance System (Auto-GCAS). Lockheed Martin is currently developing the F-35 Lightning II and leads the international supply chain, leads the team for the development and implementation of technology solutions for
1155-939: The Department of Defense and the Department of Energy to the Department of Agriculture and the Environmental Protection Agency . It is involved in surveillance and information processing for the CIA , the FBI , the Internal Revenue Service (IRS), the National Security Agency (NSA), The Pentagon , the Census Bureau , and the Postal Service . In October 2013, Lockheed announced it expected to finalize
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#17327912383551210-673: The Integrated Deepwater System Program , the Coast Guard began refitting some of these vessels, adding 13 feet (4.0 m) to the stern to make room for a high-speed stern launching ramp , and replacing the superstructure so that these vessels had enough room to accommodate mixed-gender crews. The refit added about 15 tons to the vessel's displacement, and reduced its maximum speed by approximately one knot. The eight cutters modified were; In 2005, then-Coast Guard Commandant Admiral Thomas H. Collins made
1265-669: The V-280 Valor tiltrotor for the Future Vertical Lift (FVL) program. In September 2013, Lockheed Martin acquired the Scotland -based tech firm, Amor Group , saying the deal would aid its plans to expand internationally and into non-defense markets. On November 14, 2013, Lockheed announced they would be closing their Akron, Ohio facility laying off 500 employees and transferring other employees to other locations. In March 2014, Lockheed Martin acquired Beontra AG,
1320-654: The C-5. On March 31, 2015, the US Navy awarded Lockheed Martin a contract worth $ 362 million for the construction of Freedom-class ship LCS 21 and $ 79 million for advance procurement for LCS 23. The Freedom-class ships are built by Fincantieri Marinette Marine in Marinette, Wisconsin . In December 2015, Lockheed won an $ 867 million seven-year contract to train Australia 's next generation of military pilots . The deal also has
1375-609: The DSCS-3 satellite. Martin Marietta products included Titan rockets , Sandia National Laboratories (management contract acquired in 1993), Space Shuttle External Tank , Viking 1 and Viking 2 landers, the Transfer Orbit Stage (under subcontract to Orbital Sciences Corporation ) and various satellite models. On April 22, 1996, Lockheed Martin completed the acquisition of Loral Corporation 's defense electronics and system integration businesses for $ 9.1 billion,
1430-690: The Fast Response Cutter (FRC) program, are slated to replace the Island class. Six Island class cutters (USCGC Adak , Aquidneck , Baranof , Maui , Monomoy , and Wrangell ) were stationed in Manama , Bahrain , as a part of Patrol Forces Southwest Asia to provide the Navy's Fifth Fleet with combat ready assets but all have been replaced by Fast Response Cutters. As built, these vessels were all 110 feet (34 m) in length. In 2002 as part of
1485-572: The International Space Station. In August 2007, Lockheed Martin acquired 3Dsolve, a Cary, North Carolina , company that created simulations and training modules for the military and corporate clients. Renamed Lockheed Martin 3D Learning Systems, the company remained in Cary with 3D's founder Richard Boyd as director. The name was eventually shortened to Lockheed Martin 3D Solutions. On August 13, 2008, Lockheed Martin acquired
1540-521: The Island class, all named after U.S. islands, replaced the older 95 feet (29 metres) Cape-class cutters . These cutters are equipped with advanced electronics and navigation equipment, and are used in support of the Coast Guard's maritime homeland security, migrant interdiction, drug interdiction, defense operations, fisheries enforcement, and search and rescue missions. The cutters have 10 tons worth of space and weight reservations for additional weapons. The Sentinel-class cutters , selected under
1595-457: The Moon for NASA, worth $ 2.6 billion. Lockheed Martin plans to formally propose a lander called McCandless Lunar Lander , named after the late astronaut and former Lockheed Martin employee Bruce McCandless II, who in 1984 performed the first free-flying spacewalk without a lifeline to the orbiting shuttle, using a jetpack built by the company. This lander would be based on the successful design of
1650-781: The Moon. In January 2020, the Naval Sea Systems Command awarded Lockheed Martin with a $ 138 million contract related with the AEGIS Combat System Engineering Agent (CSEA). The LMT Rotary and Mission Systems (RMS) unit of the company is to develop, integrate, test, and deliver the AEGIS Advanced Capability Build (ACB) 20 integrated combat system. Martin will work on the AEGIS in New Jersey. The project
1705-599: The U.S. Government $ 2 million to settle allegations that the company submitted false claims on a U.S. government contract for that amount. The allegations came from a contract with the Naval Oceanographic Office Major Shared Resource Center in Mississippi. On May 25, 2011, Lockheed Martin bought the first Quantum Computing System from D-Wave Systems . Lockheed Martin and D-Wave will collaborate to realize
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1760-499: The United States and the United Kingdom, including Lockheed Martin, that supplied weapons to Israel during the 2023 Israel–Hamas war . In March 2024, Lockheed Martin submitted a bid to acquire Terran Orbital. On June 28, 2024, the U.S. Army awarded Lockheed Martin a $ 4.5 billion contract to supply Patriot Advanced Capability-3 (PAC-3) missiles. The contract included 870 PAC-3 MSE missiles and related hardware. Lockheed
1815-662: The United States government pledged to provide the Philippines at least two Island-class patrol vessels which was agreed by both sides, as it was offered alongside two Marine Protector-class patrol boats and three Lockheed C-130H Hercules aircraft during President Bongbong Marcos ' visit to Washington D.C . The recipient of the transferred vessels will be the Philippine Navy . Lockheed Martin The Lockheed Martin Corporation
1870-469: The benefits of a computing platform based upon a quantum annealing processor , as applied to some of Lockheed Martin's most challenging computation problems. Lockheed Martin established a multi-year contract that includes one system, maintenance, and services, and represents a potentially important milestone for both companies. On May 28, 2011, it was reported that a cyberattack using previously stolen EMC files had broken through to sensitive materials at
1925-575: The combined companies would be at Martin Marietta headquarters in North Bethesda, Maryland . The deal was finalized on March 15, 1995, when the two companies' shareholders approved the merger. The segments of the two companies not retained by the new company formed the basis for L-3 Communications , a mid-size defense contractor in its own right. Lockheed Martin also later spun off the materials company Martin Marietta Materials . The company's executives received large bonuses directly from
1980-453: The company's F-35 fighter program. The general said: "I want them both to start behaving like they want to be around for 40 years ... I want them to take on some of the risk of this program. I want them to invest in cost reductions. I want them to do the things that will build a better relationship. I'm not getting all that love yet." The criticism came in the wake of previous criticism from former Defense Secretary Robert Gates regarding
2035-432: The company. For the fiscal year 2020, Lockheed Martin reported earnings of $ 6.833 billion, with an annual revenue of $ 65.398 billion, an increase of 9.3% over the previous year. Backlog was 144.0 billion at the end of 2019, up from 130.5 billion at the end of the 2018. Firm orders were $ 94.5 billion at the end of 2019. Its shares traded at over $ 389 per share. Its market capitalization was valued at US$ 109.83 billion at
2090-531: The contractor. It is unclear if the Lockheed incident is the specific prompt whereby on June 1, 2011, the new United States military strategy, makes explicit that a cyberattack is casus belli for a traditional act of war. On July 10, 2012, Lockheed Martin announced it was cutting its workforce by 740 workers to reduce costs and remain competitive as necessary for future growth. On November 27, 2012, Lockheed Martin announced that Marillyn Hewson would become
2145-612: The corporation's chief executive officer on January 1, 2013. On January 7, 2013, Lockheed Martin Canada announced that it would be acquiring the engine maintenance, repair, and overhaul assets from Aveos Fleet Performance in Montreal , Quebec , Canada. On July 3, 2013, Lockheed Martin announced that it was partnering with DreamHammer to use the company's software for integrated command and control of its unmanned aerial vehicles. Lockheed Martin teamed up with Bell Helicopter to propose
2200-823: The deal having been announced in January. The remainder of Loral became Loral Space & Communications . Lockheed Martin abandoned plans for an $ 8.3 billion merger with Northrop Grumman on July 16, 1998, due to government concerns over the potential strength of the new group; Lockheed/Northrop would have had control of 25% of the Department of Defense's procurement budget. For the Mars Climate Orbiter , Lockheed Martin incorrectly provided NASA with software using measurements in US Customary force units when metric units were expected; this resulted in
2255-496: The decision to stop the contractor's conversion at eight hulls when sea trials revealed intractable structural flaws. In August 2006, a Lockheed Martin engineer went public with allegations that the company and the Coast Guard were ignoring serious security flaws in the refitting project, and that they were likely to repeat the same mistakes on similar projects. The flaws included blind spots in watch cameras, FLIR equipment not suitable for operating under extreme temperatures, and
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2310-422: The defense contractor had sold overpriced perishable tools used on many contracts. The DOJ said the allegations were based specifically on the subsidiary Tools & Metals Inc's inflation of costs between 1998 and 2005, which Lockheed Martin then passed on to the U.S. government under its contracts. Further, in March 2006, Todd B. Loftis, a former TMI president, was sentenced to 87 months in prison and ordered to pay
2365-605: The dilemma that within 10 years, 100,000 of the about 130,000 Lockheed Martin employees – more than three-quarters – would be retiring. On August 31, 2006, Lockheed Martin won a $ 3.9 billion contract from NASA to design and build the CEV capsule, later named Orion for the Ares I rocket in the Constellation Program. In 2009, NASA reduced the capsule crew requirements from the initial six seats to four for transport to
2420-505: The end of 2019. Lockheed Martin ranked No. 60 in the 2019 Fortune 500 list of the largest United States corporations by total revenue (down from No. 59 in 2018). Lockheed Martin Corporation reported Total CO₂e emissions (Direct + Indirect) for the twelve months ending 31 December 2020 at 919 Kt (-49 /-5.1% y-o-y). Lockheed Martin received $ 36 billion in government contracts in 2008 alone; more than any company in history. It does work for more than two dozen government agencies from
2475-697: The funds paid out by the Pentagon . In 2009, US government contracts accounted for $ 38.4 billion (85%), foreign government contracts for $ 5.8 billion (13%), and commercial and other contracts for $ 900 million (2%). Half of the corporation's annual sales are to the U.S. Department of Defense . Lockheed Martin is also a contractor for the U.S. Department of Energy and the National Aeronautics and Space Administration ( NASA ). Lockheed Martin operates in four business segments: Aeronautics , Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space . The company has received
2530-513: The government as a result of the merger. Norman R. Augustine , who was at the time CEO of Martin Marietta, received an $ 8.2 million bonus. Both companies contributed important products to the new portfolio. Lockheed products included the Trident missile , P-3 Orion maritime patrol aircraft , U-2 and SR-71 Blackbird reconnaissance airplanes , F-117 Nighthawk , F-16 Fighting Falcon , F-22 Raptor , C-130 Hercules , A-4AR Fightinghawk and
2585-449: The government business unit of Nantero, Inc., a company that had developed methods and processes for incorporating carbon nanotubes in next-generation electronic devices. In 2009, Lockheed Martin bought Unitech. On November 18, 2010, Lockheed Martin announced that it would be closing its Eagan, Minnesota , location by 2013 to reduce costs and optimize capacity at its locations nationwide. In January 2011, Lockheed Martin agreed to pay
2640-711: The loss of the Orbiter at a cost of $ 125 million. The development of the spacecraft cost $ 193 million. In addition to their military products, in the 1990s Lockheed Martin developed the texture mapping chip for the Sega Model 2 arcade system board and the entire graphics system for the Sega Model 3 , which were used to power some of the most popular arcade games of the time. In May 2001, Lockheed Martin sold Lockheed Martin Control Systems to BAE Systems . On November 27, 2000, Lockheed completed
2695-529: The new USAF Space Fence ( AFSSS replacement), and is the primary contractor for the development of the Orion command module. The company also invests in healthcare systems, renewable energy systems, intelligent energy distribution , and compact nuclear fusion . Merger talks between Lockheed Corporation and Martin Marietta began in March 1994, with the companies announcing their $ 10 billion planned merger on August 30, 1994. The headquarters for
2750-523: The option to extend this contract across 26 years, which would greatly increase the deal's value. In August 2016, Canadian Forces Maritime tested an integrated submarine combat system developed by Lockheed Martin. The test marked Canada's first use of the combat system with the MK 48 heavyweight torpedo, variant 7AT. The same month, a deal to merge Leidos with the entirety of Lockheed Martin's Information Systems & Global Solutions (IS&GS) business came to
2805-686: The original bid for the eight boats converted. The 41 unmodified 110s are now being pressed harder to take up the slack. The eight modified were moved to the United States Coast Guard Yard and moored in Arundel Cove. The U.S. Coast Guard has transferred several ships to foreign navies and coast guards via the Defense Security Cooperation Agency 's Office of International Acquisition's Excess Defense Articles Program (EDA). In May 2023,
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#17327912383552860-647: The sale of its Aerospace Electronic Systems business to BAE Systems for $ 1.67 billion, a deal announced in July 2000. This group encompassed Sanders Associates , Fairchild Systems , and Lockheed Martin Space Electronics & Communications. In 2001, Lockheed Martin won the contract to build the F-35 Lightning II ; this was the largest fighter aircraft procurement project since the F-16, with an initial order of 3,000 aircraft. In 2001, Lockheed Martin settled
2915-436: The use of non-shielded cables in secure communications systems, a violation of TEMPEST standards. In late November 2006 all eight of the 123 ft (37 m) WPBs were taken out of service due to debilitating problems with their lengthened hulls – all eight hulls were cracking when driven at high speed in heavy seas. These as well as other issues – such as C4ISR problems – drove the program $ 60 million over budget, triple
2970-602: Was expected to close in first quarter of 2022. On February 13, 2022, Lockheed abandoned the deal following regulatory disapproval. In 2022, during the Russian invasion of Ukraine , major arms manufacturers, including Lockheed Martin, reported a sharp increase in interim sales and profits. In May 2023, Lockheed formed a new microelectronics subsidiary ForwardEdge ASIC to design custom application-specific integrated circuits for its customers. In November 2023, attempts at Direct action were taken against arms companies in
3025-493: Was tasked with manufacturing the newest version of these interceptors, with each PAC-3 MSE missile costing approximately $ 4 million, as per Army budget documents. On October 9, 2024, Lockheed Martin announced the appointment of Chauncey McIntosh as vice president and general manager of the F-35 Lightning II Program, effective December 1, 2024. He succeeded Bridget Lauderdale, who retired after 38 years with
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