Jim Taiclet is chairman, president and chief executive of Lockheed Martin, the largest defense contractor in the world by revenue. A former Air Force C-141 pilot and Gulf War veteran who later ran wireless-infrastructure giant American Tower, he took over Lockheed in June 2020 and became chairman in 2021, steering a company whose products sit at the core of American and allied military power.
Lockheed Martin reported $71 billion in 2024 net sales and a backlog of about $176 billion, the bulk of it from U.S. government and allied contracts. Its flagship F-35 fighter is the most expensive weapons program in history, and the company also builds missiles, satellites, helicopters (Sikorsky), and missile-defense systems that anchor national security supply chains.
Taiclet has pushed a '21st Century Security' strategy to fuse traditional weapons platforms with networking, software and AI, partnering with commercial tech firms. As head of a company so deeply embedded in defense procurement, he wields influence over how hundreds of billions in taxpayer dollars translate into military capability and over the industrial base the Pentagon depends on.
What they control
- Lockheed Martin: the world's largest defense contractor, with ~$71B in annual sales
- The F-35 Lightning II program, the largest weapons program in history
- Missile and missile-defense systems (PAC-3, THAAD, Javelin co-production, hypersonics)
- Space systems, including military satellites and missile-warning constellations
- Sikorsky military and commercial helicopters and the Skunk Works advanced-development arm
- A central position in the U.S. and allied defense industrial base and supply chains
Key institutions & holdings
World's largest defense contractor; $71B 2024 net sales.
Most expensive weapons program in history.
Built the wireless-infrastructure giant from 2003 to 2020.
Key facts
- Became Lockheed Martin CEO in June 2020 and chairman in March 2021, succeeding Marillyn Hewson.
- Lockheed Martin posted $71.0 billion in 2024 net sales and a $176 billion backlog.
- His reported 2024 total compensation was about $23.8 million.
- A U.S. Air Force Academy graduate and former C-141 transport pilot who flew missions in the Gulf War.
- Previously chairman and CEO of American Tower, one of the largest cell-tower operators, from 2003 to 2020.
- Champions a '21st Century Security' vision linking weapons platforms with commercial networking and AI.
Timeline
- 1982Graduates from the U.S. Air Force Academy; later flies C-141 transports, including in the Gulf War.
- 2003Becomes CEO of American Tower, leading it for 17 years.
- 2018Joins Lockheed Martin's board of directors.
- 2020Named CEO of Lockheed Martin, succeeding Marillyn Hewson.
- 2021Becomes chairman of Lockheed Martin.
- 2025The U.S. Air Force selects Boeing for its Next Generation Air Dominance fighter, a setback for Lockheed's air-superiority franchise.
Controversies
F-35 cost and sustainment · ongoing
The F-35 program, projected to cost well over $1 trillion across its life, has drawn sustained criticism from government auditors over cost overruns, readiness rates and sustainment expenses.
Classified-program losses · 2024
Lockheed disclosed roughly $2 billion in 2024 losses tied to classified programs, highlighting risks in opaque, fixed-price defense work.
Defense-industry concentration · ongoing
Watchdogs warn that a handful of prime contractors led by Lockheed dominate U.S. weapons procurement, limiting competition and giving contractors leverage over the Pentagon.
Network
- Marillyn HewsonPredecessorFormer Lockheed CEO whom Taiclet succeeded in 2020.
- U.S. Department of DefensePrimary customerLockheed is the largest recipient of U.S. defense contracts.
- Pratt & Whitney / RTXKey supplierSupplies F-35 engines and partners across programs.
- Commercial technology partnersStrategic alliesFirms Lockheed has tapped to bring 5G, cloud and AI into weapons systems.
Why this matters
Lockheed Martin converts a huge share of the U.S. defense budget into the aircraft, missiles and satellites that underpin national security, and Taiclet sits atop that pipeline. Because so few prime contractors control advanced weapons production, decisions about cost, schedule and capability are made with limited competition, yet are funded almost entirely by taxpayers. How efficiently and accountably that money is spent shapes both military readiness and the public budget.