SWOT analysis of Lockheed Martin which is US based company has been competing in Aerospace, defense and advance information security systems. The company was founded in 1995 by the merger of Lockheed Corporation and Martin Marietta. Its headquarter is located in Bethesda, Maryland, USA.
Lockheed Corporation Strengths
Following are the strengths of Lockheed corporation:
Largest defense contractor around the globe.
Strong cliental but major portion of revenues come form USA market specifically military.
Occupies top spot in the list of US federal contractor.
Strong research and development.
Human resource is one of the core competencies of Lockheed Corporation
It has strong product portfolio which include products ATC systems,Ballistic missiles,Munitions,Missile defense elements,Transport aircraft,Fighter aircraft,Radar,Satellites,Atlas launch vehicles and Spacecraft.
It has signed long term contracts with government agencies.
Lockheed Corporation Weaknesses
Following are the weaknesses of Lockheed corporation:
On the top of the list in contract misconduct according to the project on government oversight database.
Maximum dependency on government contract in terms of revenues and profits.
Low price approach.
Lockheed Corporation Opportunities
Following are the opportunities available for Lockheed corporation in the industry:
Acquisition and joint ventures will further strengthen its position and reduce competition.
Lockheed should Increase the international market share to minimize dependency on domestic market and military revenues.
Introduce more innovative defense products.
New international contracts.
Lockheed Corporation Threats
Following are the threats for Lockheed corporation in external environment.
Intense competition globally.
Reduction in defense budget.
Boeing strike perhaps impact on company reputation.