Lockheed Corporation

The Lockheed Corporation (originally Loughead Aircraft Manufacturing Company) was an American aerospace company. Lockheed was founded in 1912 and later merged with Martin Marietta to form Lockheed Martin in 1995. The Alco Hydro-Aeroplane Company was established in 1912 by the brothers Allan and Malcolm Loughead. This company was renamed the Loughead Aircraft Manufacturing Company and located in Santa Barbara, California. In 1926, following the failure of Loughead, Allan Loughead formed the Lockheed Aircraft Company (the spelling was changed to match its phonetic pronunciation) in Hollywood. In 1929, Lockheed sold out to Detroit Aircraft Corporation. The Great Depression ruined the aircraft market, and Detroit Aircraft went bankrupt. A...