Lockheed Martin and Tata Advance System Partnership

Aerospace and Defence

According to PwC Annual Industry Performance and Outlook for global aerospace and defence show that military spending has reached record highs due to an increasing number of geopolitical conflicts in Ukraine and the Middle East. The latest technological innovations, especially with the advent of artificial intelligence, have lead to significant innovation and modernization in the sector. As per another report by Deloitte, the space economy grew to $570 billion in 2023 and was poised for a  7.4% annual growth rate. This has primarily been driven by a growing interest in space exploration and travel, with giant conglomerates such as Lockheed Martin, Blue Origin, Virgin Galactic, SpaceX, and more.

• Annual total revenue for Lockheed Martin keeps on rising as it reaches approximately $71 billion, and the net profit also has considerable growth.
   Lockheed Martin’s annual revenue has been climbing steadily for the past few years, clocking in at around US$ 71 billion 
  Lockheed Martin has made affordable cruise missiles. The company unveiled the modular, subsonic cruise missile priced at approximately $150,000, designed for mass production to bolster U.S. deterrence strategies in the Pacific
• The companies have advance manufacturing with the help of AI. It is collaborating with Google Cloud to integrate generative AI into national security applications, focusing on trusted and explainable AI systems. As it will help in enhancing critical areas, including advance intelligence analysis, real-time decision making, predictive aerospace maintenance, optimized engineering designs, and accelerated scientific discoveries.
• Karman Holdings is a space and defence system based in California that is valued at approximately $4 billion, and recently underwent an initial public offering as it is reported to have a 23% year on year revenue growth in 2024, by serving over 70 prime contractors and supporting 100 US defence and space program. The company anticipates a revenue of between $423-$433 million as per Investor’s Daily Business.