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Dain Hancock discussed the future of Lockheed Martin Aeronautics at the 2002 Farnborough Air Show in the United Kingdom in July. Hancock, executive vice president and president of Lockheed Martin Aeronautics Company, said the company has added 2,000 employees to its workforce since last October and will continue steady growth until at least 2005 on the basis of current contracts. Future orders of the F-22, F-35, advanced F-16 versions, and other aircraft will likely fuel additional growth in the second half of this decade. A strategy of performance excellence, customer focus, and creation of transformational technologies has helped build a $37 billion business backlog and the potential for production of several thousand military aircraft above those already on order.
“We recognize that our company’s position is now unique in the military aircraft industry by virtue of our broad product portfolio, our large funded backlog, and our diverse customer base,” Hancock said. “We also understand that we must follow through on the promises we have made to our customers as we continue to deliver best value in each of our aircraft programs.” Hancock provided details of existing orders for the F-22 Raptor, F-35 Joint Strike Fighter, F-16 Fighting Falcon, C-130J Hercules, and other military aircraft. In addition, he discussed long-term projections that could include the production of more than 6,000 fighters and airlift aircraft over the next few decades.
Lockheed Martin Aeronautics Company currently has 25,200 employees across three operating sites. Preparations for new programs in 2002 have included reconfiguration of the F-16 assembly line in Fort Worth, Texas; expansion of F-22 final assembly facilities in Marietta, Georgia; and upgrades to manufacturing facilities for F-22 stealth components in Palmdale, California. The company is also upgrading engineering and office areas for its workforce at Fort Worth.
“All these changes are focused on preparing our company for a long and productive future and on meeting the needs of our customers,” Hancock said. In discussing ways in which the defense industry environment has changed since the tragic events of last September, Hancock said, “Within the current environment, we fully understand Lockheed Martin’s responsibility as the custodian of several of the world’s next-generation combat aircraft programs. We also understand what is required for transformation of the US military services and their counterparts worldwide.”
The aerospace exhibition and flying display held biennially in July in Farnborough is the largest temporary exhibition in the UK, if not the world. More than 1,200 exhibitors from thirty-two countries appeared at the show. More than 130 displays were flown by seventy-nine aircraft from fourteen countries. Attendance reached 290,000 visitors over the five trade and two public days.
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