Defense prime · LMT
Lockheed Martin (LMT) gets 72% of its revenue from the U.S. government
What Lockheed Martin reports in its FY2025 10-K, and what federal contract records show.
Summary
Lockheed Martin is the largest U.S. government contractor we track by dollars. It reported that 72% of its FY2025 sales came from the U.S. government, about $54.0B of $75.0B by our calculation. The 10-K breaks out the Pentagon on its own: "We derived 72% of our total consolidated sales from the U.S. Government in 2025, including 63% from the Department of War (DoW), also known as the Department of Defense under …"
The Navy awarded 55.6% of the $74.8B in prime contract obligations we matched to Lockheed in federal fiscal year 2025. That reflects how the F-35 is bought: Naval Air Systems Command signs the fighter's contracts on behalf of all three services. A single F-35 production contract, Lot 12 (N0001917C0001), carries $35.1B in obligations to date. Matched obligations came to 1.38 times reported U.S. government revenue, one of three companies we track above 1.0. Large production lots are funded in big blocks before the aircraft are delivered and booked as revenue, which can push obligations ahead of sales in a given year.
Lockheed appears to count foreign military sales as international revenue, so its share is not directly comparable with companies that include them, such as General Dynamics and Boeing. Its joint ventures, United Launch Alliance with Boeing and the Javelin venture with RTX, are shown below but kept out of these totals.
Share of revenue over time
Lockheed Martin: U.S. government share of revenue, by fiscal year
What Lockheed Martin counts as government revenue
- Definition used
- U.S. government customers
- Foreign military sales
- Excluded (the company counts them as international sales)
- Subcontract work
- Not stated
- Adjusted ex-FMS share
- Same as reported: the figure already excludes FMS
“We derived 72% of our total consolidated sales from the U.S. Government in 2025, including 63% from the Department of War (DoW), also known as the Department of Defense under …”
Lockheed Martin, FY2025 Form 10-K · read the filing
DoD alone is 63% of sales. FMS appears to be counted as international.
The contract record
Prime contract obligations on USAspending.gov for the 32 recipient records we matched to Lockheed Martin (obligations are not revenue).
In FFY2025, 98.8% of these obligations came from the Department of Defense and 1.2% from civilian agencies.
Contract obligations by awarding agency, FFY2025
Top 8 awarding sub-agencies; the rest grouped as Other.
| Awarding agency | Obligations | Share |
|---|---|---|
| Department of the Navy | $41.7B | 55.6% |
| Department of the Army | $14.3B | 19.1% |
| Department of the Air Force | $12.4B | 16.6% |
| Missile Defense Agency | $3.81B | 5.1% |
| U.S. Special Operations Command | $883M | 1.2% |
| National Aeronautics and Space Administration | $750M | 1% |
| Defense Logistics Agency | $597M | 0.8% |
| Defense Advanced Research Projects Agency | $190M | 0.3% |
| Other | $293M | 0.4% |
Obligations by federal fiscal year
| Federal fiscal year | Obligations | Note |
|---|---|---|
| FFY2026 | $51.7B | preliminary DoD data posts with a 90-day delay |
| FFY2025 | $74.8B | Matched to FY2025 |
| FFY2024 | $50.5B | |
| FFY2023 | $69.1B | |
| FFY2022 | $46.3B | |
| FFY2021 | $40.9B |
Largest contracts active in FFY2025
Ranked by total obligated value to date on each award (all years), among awards with activity in FFY2025. Links open the award on USAspending.gov.
| Award | Agency | Description | Obligated to date | Period |
|---|---|---|---|---|
| DEAC0494AL85000Lockheed Martin Corp | Department of Energy | No description on file | $48.1B | 1993–2017 |
| N0001917C0001Lockheed Martin Corporation | Department of the Navy | LRIP LOT 12 ADVANCE ACQUISITION CONTRACT | $35.1B | 2017–2031 |
| N0001902C3002Lockheed Martin Corporation | Defense Contract Management Agency | No description on file | $34.2B | 2001–2022 |
| N0001920C0009Lockheed Martin Corporation | Department of the Navy | THE PURPOSE OF THIS MODIFICATION IS TO AWARD F-35A LRIP 15 USAF AIRCRAFT* LONG LEAD FUNDING | $30.2B | 2019–2028 |
| N0001923C0003Lockheed Martin Corporation | Department of the Navy | THE PURPOSE OF THIS CONTRACT IS TO AWARD LONG LEAD FUNDING FOR F-35A, F-35B, AND F-35C AIRCRAFT FOR U.S. SERVICES, NON-DOD PARTNERS, AND… | $24.6B | 2022–2031 |
| NNJ06TA25CLockheed Martin Corp | National Aeronautics and Space Administration | DESIGN, DEVELOPMENT, TEST&EVALUATION OF PROJECT ORION | $15.6B | 2006–2027 |
| N0001916C0033Lockheed Martin Corporation | Defense Contract Management Agency | LRIP 11 AAC | $12.3B | 2015–2031 |
| N0001915C0003Lockheed Martin Corporation | Defense Contract Management Agency | LRIP 10 AAC | $10.6B | 2015–2032 |
| W31P4Q20C0023Lockheed Martin Corporation | Department of the Army | THE CONTRACT AWARD IS FOR THE FY21/FY22/FY23 BASE AND OPTION PRICING FOR PHASE ARRAY TRACKING RADAR TO INTERCEPT ON TARGET (PATRIOT)… | $10.5B | 2020–2033 |
| W31P4Q24C0022Lockheed Martin Corporation | Department of the Army | EXECUTE PHASED ARRAY TRACKING RADAR TO INTERCEPT ON TARGET (PATRIOT) ADVANCED CAPABILITY-3 (PAC-3) MISSILE PRODUCTION BY PROVIDING… | $10.2B | 2024–2036 |
Recipients we matched to Lockheed Martin
These USAspending recipient records are rolled into the figures above. Readers can check each one; if a match looks wrong, tell us.
| Recipient name | UEI | How matched | FFY2025 obligations |
|---|---|---|---|
| LOCKHEED MARTIN CORPORATION | G4KDGE4JFFK7 | USAspending parentLOCKHEED MARTIN CORP | $34.1B |
| LOCKHEED MARTIN CORPORATION | XFJMYSYFJEK4 | USAspending parentLOCKHEED MARTIN CORP | $10.4B |
| LOCKHEED MARTIN CORPORATION | H7PNSVNN5827 | USAspending parentLOCKHEED MARTIN CORP | $6.06B |
| SIKORSKY AIRCRAFT CORPORATION | UTJWTSLMFNG4 | USAspending parentLOCKHEED MARTIN CORP | $4.83B |
| LOCKHEED MARTIN CORP | FYHNA5WC8XD7 | USAspending parentLOCKHEED MARTIN CORP | $3.10B |
| LOCKHEED MARTIN CORPORATION | CWM4UN76ZQW8 | USAspending parentLOCKHEED MARTIN CORP | $2.54B |
| LOCKHEED MARTIN CORP | SJDEB3MKJEW5 | USAspending parentLOCKHEED MARTIN CORP | $2.58B |
| LOCKHEED MARTIN CORPORATION | KMEVRAKJVBD3 | USAspending parentLOCKHEED MARTIN CORP | $2.02B |
| LOCKHEED MARTIN CORPORATION | HJP4JZG1FUL9 | USAspending parentLOCKHEED MARTIN CORP | $1.20B |
| LOCKHEED MARTIN CORP | CQWLW9XRQTH5 | USAspending parentLOCKHEED MARTIN CORP | $1.06B |
| LOCKHEED MARTIN CORPORATION | H11HD5VHGHN3 | USAspending parentLOCKHEED MARTIN CORP | $1.11B |
| LOCKHEED MARTIN CORPORATION | NGBVY5X32XZ5 | USAspending parentLOCKHEED MARTIN CORP | $1.61B |
| LOCKHEED MARTIN CORPORATION | KDT2YLB34NT6 | USAspending parentLOCKHEED MARTIN CORP | $518M |
| LOCKHEED MARTIN CORPORATION | JKVWEPKJRR65 | USAspending parentLOCKHEED MARTIN CORP | $838M |
| LOCKHEED MARTIN CORPORATION | NMHFLDYJJ4C5 | USAspending parentLOCKHEED MARTIN CORP | $704M |
| LOCKHEED MARTIN CORPORATION | MJENSFHZJP11 | USAspending parentLOCKHEED MARTIN CORP | $413M |
| LOCKHEED MARTIN CORPORATION | LXKGXB75YKY6 | USAspending parentLOCKHEED MARTIN CORP | $254M |
| LOCKHEED MARTIN CORPORATION | HDHVQ4EF8A89 | USAspending parentLOCKHEED MARTIN CORP | $131M |
| LOCKHEED MARTIN CORP | KFN4YJH98D51 | USAspending parentLOCKHEED MARTIN CORP | $397M |
| LOCKHEED MARTIN CORPORATION | XYUMJHQ1LJV5 | USAspending parentLOCKHEED MARTIN CORP | $344M |
| LOCKHEED MARTIN CORPORATION | NPTBVK49FNB3 | USAspending parentLOCKHEED MARTIN CORP | — |
| LOCKHEED MARTIN CORPORATION | Z9B5HQ9HSTM5 | USAspending parentLOCKHEED MARTIN CORP | $207M |
| LOCKHEED MARTIN SIPPICAN, INC. | YS2TNLEU8EK3 | USAspending parentLOCKHEED MARTIN CORP | $42.2M |
| LOCKHEED MARTIN SERVICES, LLC | VA1WWN5RAG77 | USAspending parentLOCKHEED MARTIN CORP | $94.1M |
| LOCKHEED MARTIN GLOBAL, INC. | W6FRDDAM8JE5 | USAspending parentLOCKHEED MARTIN CORP | — |
| LOCKHEED MARTIN CORPORATION | PAMVUBYPXF48 | USAspending parentLOCKHEED MARTIN CORP | $70.0M |
| LOCKHEED MARTIN CORPORATION | KC5NMK7R6TN5 | USAspending parentLOCKHEED MARTIN CORP | — |
| ASTROTECH SPACE OPERATIONS, LLC | GFCNFVBDGM85 | USAspending parentLOCKHEED MARTIN CORP | $71.1M |
| LOCKHEED MARTIN CORPORATION | LJDGB6CXKRK5 | USAspending parentLOCKHEED MARTIN CORP | $65.1M |
| LOCKHEED MARTIN CORPORATION | HNXKWMN1HJL6 | USAspending parentLOCKHEED MARTIN CORP | — |
| LOCKHEED MARTIN GLOBAL, INC. | LJKDLNNTB3V8 | USAspending parentLOCKHEED MARTIN CORP | — |
| DERCO AEROSPACE, INC. | NE3YWSUB81N5 | USAspending parentLOCKHEED MARTIN CORP | — |
Joint ventures (not included in totals)
- United Launch Alliance, with Boeing. Joint ventures are not split between partners.
- Javelin Joint Venture, with RTX. Joint ventures are not split between partners.
- Longbow LLC, with Northrop Grumman. Joint ventures are not split between partners.
Peers
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Sources
- Lockheed Martin, FY2025 annual report (U.S. government share) (accessed October 15, 2026)
- Lockheed Martin, FY2024 annual report (U.S. government share) (accessed October 16, 2026)
- Lockheed Martin, FY2023 annual report (U.S. government share) (accessed October 16, 2026)
- Lockheed Martin, FY2022 annual report (U.S. government share) (accessed October 16, 2026)
- Lockheed Martin, FY2021 annual report (U.S. government share) (accessed October 16, 2026)
- SEC XBRL company facts for Lockheed Martin (revenue history) (accessed October 16, 2026)
- USAspending.gov recipient profile: Lockheed Martin Corporation (accessed October 16, 2026)
- USAspending.gov API, prime contract awards (award types A–D) (accessed October 16, 2026)
- Federal Exposure methodology