CANBERRA, 4 NOVEMBER 2025 – Lockheed Martin Australia contributed A$1.06 billion to the Australian economy in 2024, underscoring its vital role in strengthening the nation’s sovereign defence capabilities and supporting 4,919 jobs across its operations and national supply chain, according to a new Economic Impact Report (the Report) by Deloitte Access Economics.

The Report confirms that Lockheed Martin Australia drives economic activity nationwide, with operations in every mainland state and territory delivering programs that strengthen sovereign capabilities across air, land, maritime, and space domains.

It also highlights the company’s significant growth since 2022 much of that in regional areas, its economic and strategic impacts, and the benefits delivered to its supplier network and the wider community.

Highlights from the Report include:

Economic impact

• Lockheed Martin Australia contributed A$1.06 billion to Australia’s GDP in 2024, up 82 per cent since 2022.
  • Direct activities added A$463 million to Australia’s GDP in 2024 (up 84 per cent on 2022), with a further $596 million added (up 80 per cent on 2022) via its Australian-based supplier network.
• More than 600 unique Australian suppliers engaged in 2024.

• Small-to-medium enterprises continue to play a pivotal role, representing 75 per cent of Australian suppliers engaged in 2024 and capturing nearly A$257 million in expenditure.
• A survey of major Australian suppliers by Deloitte Access Economics found that partnering with Lockheed Martin Australia delivers tangible benefits: 94 per cent reported workforce growth, 71 per cent reported increased revenue, and 65 per cent formed new partnerships as a result.

Workforce impact

• Lockheed Martin Australia’s highly skilled and diverse workforce supports more than two additional jobs in the Australian supply chain for every employee.
• Lockheed Martin Australia supported 4,919 full-time equivalent (FTE) jobs across the organisation and its supply chain, up 44 per cent since 2022.
  • Direct activities supported 1,579 FTE jobs representing 36 per cent growth in direct employment since 2022.
  • A further 3,340 Australian FTE jobs were supported in 2024 via Lockheed Martin Australia’s supplier network (up 49 per cent on 2022).
• Veterans represent 25 per cent of Lockheed Martin Australia’s workforce, including active Reservists.
• Across its capability areas, Air Superiority (covering Black Hawk and Seahawk helicopters, C-130J and F35s) generated the largest overall economic contribution of A$356 million value added while supporting 1,959 FTE jobs.
• Among Lockheed Martin Australia’s direct activities, the Maritime, Mission Systems, Undersea Systems, and Guided Systems capability area generated the largest direct contribution of A$221 million value added, and 785 direct FTE jobs supported. This is driven by continued investment in work on the Aegis combat system for the Hobart class Destroyers and Hunter Class Frigates, and delivery of AIR6500 Phase 1 – the foundational pillar of Australia’s future IAMD capability.

Supporting regional jobs, sovereign capability, STEM and Veterans

Case studies in the report highlight Lockheed Martin’s role in building sovereign capability through skilling the future workforce, including through:

• Our apprenticeship program in Nowra NSW, supporting sustainment of the RAN’s MH-60R (Seahawk) helicopters.
• Specialised training for Australian engineers in a guided weapons production facility to skill the future GWEO workforce.
• Partnering with the University of Adelaide and the University of New South Wales and Defence Trailblazer to deliver a Combat Systems Engineering Micro-credentials program.
• Lockheed Martin Australia’s sponsorship as the major funding partner of the National Youth Science Forum, which promotes STEM pathways for year 12 and university students.
• Providing over A$3.4 million in support since 2019 to veteran-aligned organisations including Keith Payne VC Veterans Benefit Group, Legacy, the Gallipoli Scholarship Fund, and Aussie Hero Quilts.

Technology and innovation impact

• With a footprint across the country, Lockheed Martin Australia’s Advanced Systems & Technologies (AST) directly employs scientific researchers and partners with Defence and Australian universities to develop advanced, sovereign capabilities for Australia and its allies.
• Since 2022, the overall economic contribution of Lockheed Martin Australia's training and R&D activities has grown by 20 per cent, contributing A$138 million to Australia's GDP in 2024.
• Lockheed Martin Australia’s delivery of the Southern Positioning Augmentation System (SouthPAN), for the benefit of users across Australia and New Zealand.

"Contributing over A$1 billion to the Australian economy is a significant milestone for Lockheed Martin Australia and reflects the strength of our partnerships across industry, defence, and the community,” said Warren McDonald, Chief Executive, Lockheed Martin Australia and New Zealand. “From supporting thousands of direct and indirect jobs across our programs to pioneering advanced technologies at AST, our work is helping build sovereign capability and drive economic growth."

Looking ahead, Lockheed Martin Australia will continue to serve as a key delivery partner for the Australian Defence Force, supporting the implementation of the National Defence Strategy. This includes through its role as Strategic Partner for Integrated Air and Missile Defence (IAMD) and the Guided Weapons and Explosive Ordnance (GWEO) Enterprise, as well as the delivery of sustainment and training services, maritime combat systems and solutions, and space-based capabilities.

About Lockheed Martin Australia

Headquartered in Canberra, Lockheed Martin Australia is a wholly-owned subsidiary of Lockheed Martin Corporation. The company employs more than 1,800 people in Australia working on a wide range of major programs spanning the aerospace, Defence and civil sectors.

www.lockheedmartin.com.au

Media Contact:

Joanne Hon, joanne.hon@lmco.com, +61 458 175 404