Defense's New Battlefield

Lockheed Martin-Loral is part of a fast-changing landscape

As Lockheed Martin Chairman Daniel M. Tellep surveyed the defenseindustry landscape last year, he saw the big getting much bigger and the small being swallowed up or fading into irrelevance. His $23 billion giant sat atop the industry heap, but the breakneck pace of mergers still beckoned. "As strong as Lockheed Martin is, this is not a static situation," he says.

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