Marillyn Hewson

Defense Contractors Remain Upbeat About 2021

A worker in the shipyard’s foundry uses a torch to slice through scrap steel at Newport News Shipbuilding. HII Photo

A trio of large defense contractors belive their financial futures are secure in 2020 and 2021 – even with COVID-19 and a slowed federal budget process.

Leaders from Huntington Ingalls Industries, Lockheed Martin and Northrop Grumman provided investors with their financial outlook over two days during the annual Bernstein’s Virtual Strategic Decisions Conference.

President Donald...

https://news.usni.org/2020/06/01/defense-contractors-remain-upbeat-about-2021

COVID-19-Related Supply Chain Disruptions Slowing F-35 Production

A U.S. Navy F-35C Lightning II, attached to Commander, Joint Strike Fighter Wing, the ‘Argonauts’ of Strike Fighter Squadron (VFA) 147, completes a flight over Eglin Air Force Base in Fort Walton Beach, Fla., Feb. 1, 2019. US Navy Photo

COVID-19 is slowing F-35 Lightning II Joint Strike Fighter production because of supply chain disruptions caused by national and international attempts to stop the spread of the sickness, prime contractor Lockheed Martin said Tuesday.

The U.S military’s readiness...

https://news.usni.org/2020/04/21/covid-19-related-supply-chain-disruptions-slowing-f-35-production

Marillyn Hewson Stepping Down as Lockheed Martin CEO

Marillyn Hewson, CEO of Lockheed Martin, addresses her remarks to President Donald J. Trump, joined by Vice President Mike Pence, during the American Workforce Policy Advisory Board Meeting on March 6, 2019. White House Photo

Marillyn Hewson is stepping down as chief executive of Lockheed Martin after running the defense contractor since 2014.

Lockheed makes the F-35 Lightning II Joint Strike Fighter and the Freedom-variant of the Littoral Combat Ship, among other defense programs.

Hewson, 66, is...

https://news.usni.org/2020/03/16/marillyn-hewson-stepping-down-as-lockheed-martin-ceo

Lockheed Martin Confident Other Customers Will Buy Turkey’s F-35s

An F-35A Lightning II fighter jet takes off during Astral Knight 2019 on June 6, 2019, at Aviano Air Base, Italy. US Air Force Photo

Lockheed Martin is confident new customers will step forward to buy the F-35 Lighting II Joint Strike Fighters intended for Turkey, company executives said during a Tuesday conference call with analysts.

Last week, Turkey was officially dropped from the F-35 program after the country received its first shipment of a Russian-built air defense system. Pentagon...

https://news.usni.org/2019/07/23/lockheed-martin-confident-other-customers-will-buy-turkeys-f-35s

Lockheed Martin Says New F-35 Supplier Contracts Will Reduce Aircraft Costs

An F-35C Lightning II fighter jet, attached to the “Argonauts” of Strike Fighter Squadron (VFA) 147, flies in formation for a photo exercise in Lemoore, Calif., on Nov. 16, 2018. US Navy Photo

F-35 Lightning II Joint Strike Fighter lead-contractor Lockheed Martin reconfigured a host of its contracts with its suppliers to lower the aircraft price tag, improve readiness and control ongoing maintenance costs.

Lockheed Martin moved a raft of suppliers into performance-based logistics contracts or...

https://news.usni.org/2019/04/18/lockheed-martin-say-new-f-35-supplier-contracts-will-reduce-aircraft-costs