Lockheed Martin Aerospace Analytical Essay by Nicky

An evaluation of Lockheed Martin using Porter's five forces model.
# 150178 | 2,287 words | 12 sources | APA | 2012 | US
Published on Jan 29, 2012 in Business (Companies) , Business (Industries) , Aviation, Aeronautics (General)


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Description:

Using the Porter five forces model, this paper analyzes Lockheed Martin's position in the global military aerospace products manufacturing industry. The paper examines the threat of new entry, the competitive rivalry, the supplier power, the buyer power and the threat of substitution. The paper includes figures and a segmentation analysis and financial ratio analysis of Lockheed Martin as appendices.

Outline:
Introduction
Analyzing Lockheed Martin Using the Porter Five Forces Model
Assessing Supplier Power
Threat of Substitution
Threat of New Entry
Buyer Power
Assessing Competitive Rivalry

From the Paper:

"The four divisions of the company compete in the global military aerospace products manufacturing industry by designing, manufacturing and servicing military aircraft, high-tech flight systems for missiles, and also completing extensive defense-related projects. As a result of this product and services focus the company takes a portfolio-based approach to managing products and projects (Gurgur, Morley, 2008). The three core markets of defense and intelligence, homeland security, and systems and information technology form the foundation of the company's revenue streams (Gurgur, Morley, 2008). With just over 3,000 programs active as of 2009 with the most well-known being the F-22 (King, Driessnack, 2007), Lockheed Martin has a culture that is heavily influenced by project-based values including Quality Management techniques including Six Sigma for continuous quality improvement (Prybutok, Ramasesh, 2005) and business process re-engineering (BPR) (Schiff, 2004). As project-based business models are heavily dependent on supplier collaboration and close work with their supply chains, Lockheed Martin continues to be one of the leaders in the aerospace industry at supply chain management and optimization (Myers, Cheung, 2008). Suppliers are often required to create customized components, assemblies, and modules for use in prototypes Lockheed Martin uses to test new products. This process workflow of streamlining product configuration and customization requirements across its divisions with a common market focus is also a competitive advantage of Lockheed Martin relative to more formally structured European competitors including European Aeronautic Defence and Space Company (EADS) (Johansen, Comstock, Winroth, 2005). All of these factors combined give Lockheed Martin a unique position in the global military aerospace products manufacturing industry."

Sample of Sources Used:

  • Browning, T., & Heath, R.. (2009). Reconceptualizing the effects of lean on production costs with evidence from the F-22 program. Journal of Operations Management, 27(1), 23.
  • Ivan A. Camelier, Luis A. Lourenco, & Jose Lourenco da Saude. (2008). Aircraft sustaining: a holistic and systemic approach establishing the various support components. Aircraft Engineering and Aerospace Technology, 80(5), 526-537.
  • Gurgur, C., & Morley, C.. (2008). Lockheed Martin Space Systems Company Optimizes Infrastructure Project-Portfolio Selection. Interfaces, 38(4), 251-262,350-351.
  • Kerstin Johansen, Mica Comstock, & Mats Winroth (2005). Coordination in collaborative manufacturing mega-networks: A case study. Journal of Engineering and Technology Management, 22(3), 226-244.
  • David R King, & John D Driessnack. (2007). ANALYSIS OF COMPETITION IN THE DEFENSE INDUSTRIAL BASE: AN F-22 CASE STUDY. Contemporary Economic Policy, 25(1), 57-66.

Cite this Analytical Essay:

APA Format

Lockheed Martin Aerospace (2012, January 29) Retrieved March 06, 2021, from https://www.academon.com/analytical-essay/lockheed-martin-aerospace-150178/

MLA Format

"Lockheed Martin Aerospace" 29 January 2012. Web. 06 March. 2021. <https://www.academon.com/analytical-essay/lockheed-martin-aerospace-150178/>

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