Lockheed Martin (NYSE: LMT) will expand its reach in the Internet of Things (IoT) through a Memorandum of Understanding with ORBCOMM (Nasdaq: ORBC). As the world becomes increasingly connected and automated, Lockheed Martin plans to leverage ORBCOMM’s Machine-to-Machine (M2M) portfolio and expertise to explore opportunities for customers and across the corporation. Space-enabled solutions in particular provide satellite connectivity and services for IoT applications that require wide-area coverage and integration with multiple tiers of information technology. Examples include improved asset visibility and tracking for global supply chains or during natural disaster response.
“The vision of the Internet of Things promises to change how society benefits from machines embedded with greater intelligence, improving the decisions organizations make and ultimately the quality of service delivered to their end users,” said Dave Markham, vice president of Strategy and Advanced Programs at Lockheed Martin Space Systems. “To that end, we look forward to exploring future opportunities with a satellite M2M market leader like ORBCOMM.”
The two companies will jointly explore future satellite and hybrid satellite/cellular M2M opportunities primarily in the government sector, in the United States as well as select international markets. Collaboration may span a range of activities, including joint business development, portfolio evolution and allied partnerships.
Source: Lockheed Martin Corporation (NYSE: LMT)
Date: Mar 10, 2016