LOCKHEED MARTIN CORPORATION

# Lockheed Martin Corporation - Vendor Assessment

## Agency Concentration Risk

Lockheed Martin exhibits extreme concentration risk, with the Department of Defense accounting for 99% ($270.2B) of its $272.9B obligated contract value across 957 awards. This heavy reliance on a single agency creates significant vulnerability to budget fluctuations, policy shifts, or procurement strategy changes within DoD. The remaining seven agencies collectively represent only 1% ($2.7B) of total value, providing minimal portfolio diversification. NASA ($1.4B) and GSA ($868.1M) represent the only secondary revenue streams of note.

## Contract Expiry Exposure

The vendor faces substantial near-term contract maturity risk, with $82.4B (30% of total obligated value) expiring within 18 months. This significant exposure requires aggressive contract renewal efforts and creates potential revenue volatility if recompetition outcomes prove unfavorable.

## NAICS Diversification

Lockheed Martin operates across 10 NAICS codes, demonstrating moderate diversification. However, the portfolio remains heavily weighted toward defense-specific sectors: Engineering Services (541330) leads with 139 awards, followed by aircraft manufacturing categories (336411, 336413) totaling 178 awards. This concentration in aerospace and defense engineering limits cross-sector revenue opportunities.

## Strategic Outlook

The vendor maintains a fortress position within defense contracting but faces structural vulnerability. Diversification into non-DoD agencies and commercial sectors should be prioritized to reduce single-agency dependency and mitigate expiration risk.