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Dan Spoor, vice president of Aviation Systems at Lockheed Martin Mission Systems & Sensors said, "Lockheed Martin's experience, resources and proven K-MAX platform will allow us to meet the Army's objectives.

The U.S. Army awarded Lockheed Martin (NYSE:LMT) a $47 million contract to develop, demonstrate, and deliver autonomous technologies for unnamed air systems to support in-theater unmanned cargo resupply missions.

"As we drive to create GEOINT solutions that utilize innovative, on-line apps for novice and expert users alike, collaborating with a GIS leader like Esri will help us make those solutions more powerful, more integrated and more a

Lockheed Martin (NYSE:LMT) and Esri will begin collaborating on technologies to put online geospatial apps and services in the hands of more military, intelligence, homeland security, and emergency users worldwide.

The company currently employees about 28,000 at its principal Aeronautics sites in Texas, Georgia, California, and at six smaller locations in as many states.

Ralph D. Heath, executive vice president, Lockheed Martin Aeronautics, said, "Bold and responsible action is necessary to meet customer expectations and reduce our costs.

Lockheed Martin (NYSE:LMT) announced today that it will be reducing employment across its Aeronautics business area, with a reduction target of approximately 1,500.

The company said it would be reducing middle management by 25%, with significantly smaller percentages in other levels and disciplines.

Lockheed Martin's (NYSE:LMT) Space Systems Company announced today that it would eliminate approximately 1,200 positions out of its 16,000 strong workforce by year-end.

This is what's in the news for Tuesday, May 31st. the Wall Street Journal reports that the Pentagon has concluded that computer sabotage coming from another country can constitute an act of war, a finding that for the first time o

Bob Stevens, Chairman and CEO commented: "We had a solid operating and financial start to 2011. We focused on executing on our programs while continuing to find affordable solutions, because we and our customers need to make every

Lockheed Martin Corp (NYSE:LMT) reported Q1 EPS of $1.55, beating the consensus estimate for $1.51 per share. Revenues for the quarter increased 2.9% year-over-year to $10.63 billion, just above the consensus estimate for $10.58