GBU-12 Paveway II of the Paveway series) are produced by defense contractors Lockheed Martin and Raytheon. Raytheon began production after purchasing the product line from Texas Instruments. Lockheed Martin was awarded a contract to compete with Raytheon when there was a break in production caused by transferring manufacturing out of Texas. "Paveway II" refers specifically to the guidance kit, rather than to the weapon itself. See also GBU-16 Paveway II, where the same guidance unit is fitted to a Mk 83 1,000-lb bomb. The US Department of Defense has upgraded GBU-12 production versions to include GPS guidance modes. Lockheed Martin is the sole
Lockheed Martin for work performed by company staff who did not hold the relevant, essential qualifications for the contract. The board of directors consists of 14 members. As of February 2016, members include: As of 2017 Lockheed Martin shares are mainly held by institutional investors (State Street Corporation, Capital Group Companies, Vanguard group, BlackRock, and others) Lockheed Martin is listed as the largest U.S. government contractor and "ranks third for number of incidents, and twenty-first for size of settlements on the 'contractor misconduct' database maintained by the Project on Government Oversight, a Washington, D.C.-based watchdog group." Since 1995, the company has agreed