Lockheed Martin expects sales growth

US aerospace and defense company Lockheed Martin has forecasted that its sales will increase from $68.5 billion to $70 billion in 2024 compared to the previous year. Lockheed Martin announced its balance sheets for the last quarter of last year and for the whole of 2023. Accordingly, the company's net sales in the last quarter of last year decreased by 0.5 percent compared to the same period of the previous year, falling to $18.9 billion. Lockheed Martin's sales were recorded as $19 billion in the same period of 2022. Despite the decline in the period in question, the company's sales exceeded market expectations. Sales increased by more than 2 percent last year. Lockheed Martin's net sales increased by 2.4 percent compared to the previous year, reaching $67.6 billion in 2023. The company's sales were recorded as $66 billion in 2022. The company forecast net sales this year to be between $68.5 billion and $70 billion. Lockheed Martin's sales expectations for this year also outpaced market expectations. Lockheed Martin CEO Jim Taiclet said in a statement regarding the company's balance sheet that the 2023 financial results show continued strong demand for Lockheed Martin's defense technology solutions. "As we look to 2024 and beyond, our opportunities to support global security for the U.S. government and its allies remain strong with traditional and breakthrough technologies," Taiclet said.