Newsroom News Releases
Lockheed Martin Advances Space Capabilities Through
Strategic Terran Orbital Acquisition
Deal Enables Rapid Development and Fielding of Mission-Ready Spacecraft
BETHESDA, Md., Oct. 30, 2024 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) has completed its previously
announced acquisition of Terran Orbital, a leading manufacturer of innovative modular spacecraft serving the
global aerospace and defense industries, and its subsidiary, Tyvak International. Lockheed Martin has worked
with Terran Orbital on projects including Space Development Agency programs and Lockheed Martin's
technology demonstrations.
"The addition of Terran Orbital's spirit of entrepreneurship to the scale of Lockheed Martin means there is a
great deal of opportunity to keep pushing the boundaries of technology and space solutions together," said
Robert Lightfoot, President, Lockheed Martin Space. "We welcome their ingenuity and dedication to ensuring
mission success and we've always valued those aspects of our working relationship. Together, we can deliver
our combined innovation and services with a greater sense of urgency to support our customers' commercial,
civil and national security needs."
Terran Orbital offers a unique lineup of customizable spacecraft platforms, which include interchangeable
components, and mission services. When these are combined with Lockheed Martin's mission system
integration and payload expertise, the result includes more robust space capabilities. This is in addition to
bolstered manufacturing practices, driven by automation and robotics for increased capacity and speed, and
advanced testing techniques.
Reporting through Lockheed Martin's Space business area, the company will be recognized as Terran Orbital, a
Lockheed Martin Company. It will remain a merchant supplier to the industry and bring holistic solutions by
coalescing satellite design, production, launch planning, mission operations, and in-orbit support to meet the
needs of the most demanding military, civil, and commercial customers' missions.
Terran Orbital, a Lockheed Martin Company, maintains locations in Boca Raton and Melbourne, Florida, Irvine
and Santa Maria, California, Atlanta, Georgia, Tysons Corner, Virginia, and Torino, Italy.
The acquisition was first announced August 15, 2024. More information on Terran Orbital can be found at
www.terranorbital.com.
About Lockheed Martin
Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery.
Our all-domain mission solutions and 21st Century Security ® vision accelerate the delivery of transformative
technologies to ensure those we serve always stay ahead of ready. More information at
www.Lockheedmartin.com.
Forward Looking Statements
This news release contains statements that, to the extent they are not recitations of historical fact, constitute
"forward-looking statements" within the meaning of the federal securities laws, and are based on Lockheed
Martin's current expectations and assumptions, including, among other things, statements regarding the
transaction, the expected benefits of the transaction, and the future performance of Lockheed Martin's
business. The words "believe," "estimate," "anticipate," "project," "intend," "expect," "plan," "outlook," "will,"
"should," "could," "scheduled," "forecast," and similar expressions are intended to identify forward-looking
statements. There can be no assurance that any future events will occur as anticipated, if at all, or that actual
results will be as expected. These statements are not guarantees of future performance and are subject to
risks and uncertainties. Actual results may differ materially due to factors such as: the failure to successfully
and timely integrate Terran Orbital and realize the expected benefits of the transaction; the risk of litigation
relating to the transaction; competitive responses to the transaction; unexpected liabilities, costs, charges or
expenses resulting from the transaction; and potential adverse reactions or changes to business relationships
from the completion of the transaction. These are only some of the factors that may affect the forward-looking
statements contained in this news release. For a discussion identifying additional important factors that could
cause actual results to differ materially from those anticipated in the forward-looking statements, see
Lockheed Martin's filings with the SEC, including, but not limited to, "Management's Discussion and Analysis of
Financial Condition and Results of Operations" and "Risk Factors" in Lockheed Martin's most recent Annual
Report on Form 10-K and subsequent quarterly reports on Form 10-Q. Lockheed Martin's filings may be
accessed through the investor relations page of its website, www.lockheedmartin.com/investor or through the
website maintained by the SEC at www.sec.gov. Except where required by applicable law, Lockheed Martin
expressly disclaims a duty to provide updates to forward-looking statements after the date of this news release
to reflect subsequent events, changed circumstances, changes in expectations, or the estimates and
assumptions associated with them. The forward-looking statements in this news release are intended to be
subject to the safe harbor protection provided by the federal securities laws.
SOURCE Lockheed Martin
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