SECURITIES AND EXCHANGE COMMISSION

                           Washington, DC  20549

                                               

                                  FORM 8-K

                               CURRENT REPORT

                   PURSUANT TO SECTION 13 OR 15(d) OF THE
                      SECURITIES EXCHANGE ACT OF 1934

     Date of report (Date of earliest event reported):  April 23, 1996

                   Lockheed Martin Tactical Systems, Inc.
              (as successor corporation to Loral Corporation)
             (Exact Name of Registrant as Specified in Charter)

                New York                  1-4238              13-1718360    
     (State or Other Jurisdiction      (Commission          (IRS Employer   
          of Incorporation)            File Number)         Identification No.)

          6801 Rockledge Drive, Bethesda, Maryland          20817     
          (Address of Principal Executive Offices)     (Zip Code)     

     Registrant's telephone number, including area code   (301) 897-6000

       Loral Corporation, 600 Third Avenue, New York, New York 10016
       (Former Name or Former Address, if Changed Since Last Report)


     Item 1.   CHANGES IN CONTROL OF THE REGISTRANT

               The Offer.  On January 12, 1996 LAC Acquisition Corpo-
          ration (the "Purchaser"), a wholly owned subsidiary of
          Lockheed Martin Corporation ("Lockheed Martin"), commenced a
          cash tender offer (the "Offer") for all of the outstanding
          shares of Common Stock (the "Shares"), par value $0.25 per
          share, of Loral Corporation (the "Company" or "Loral").  The
          Offer was made pursuant to an Agreement and Plan of Merger
          dated as of January 7, 1995 (the "Merger Agreement") by and
          among the Company, Purchaser and Lockheed Martin. The Offer
          expired at Midnight, New York City time, on April 22, 1996. 
          Based on the final information provided by the First Chicago
          Trust Company of New York (the "Depositary"), a total of
          166,529,814 Shares (or approximately 95%) were validly
          tendered and not withdrawn pursuant to the Offer, including
          13,738,017 Shares tendered pursuant to notices of guaranteed
          delivery.  The Purchaser has accepted for payment all such
          Shares at a purchase price of $38.00 per Share in cash. 
          Through April 29, 1996 166,449,231 Shares had been purchased
          by the Purchaser pursuant to the Offer.

               The Merger.  On April 29, 1996 a merger of the Purchas-
          er with and into the Company (the "Merger") pursuant to
          Section 905 of the New York Business Corporation Law (the
          "NYBCL") became effective.  The Company was the Surviving
          Corporation in the Merger and was renamed Lockheed Martin
          Tactical Systems, Inc. ("Tactical Systems").  The Merger was
          the second and final step in the acquisition of the Company
          pursuant to the Merger Agreement.  The first step was the
          Offer described above.  Under the Merger Agreement, each
          Share outstanding immediately prior to the effective time of
          the Merger was converted solely into the right to receive
          the merger consideration of $38.00 per Share in cash.  As a
          result of the Merger, the Company (now known as Tactical
          Systems) became a wholly owned subsidiary of Lockheed Mar-
          tin.

               Source and Amount of Funds.  A description of the
          source and amount of funds required to consummate the trans-
          actions contemplated by the Offer and the Merger Agreement
          is contained in Section 9, entitled "Source and Amount of
          Funds" of the Offer to Purchase, dated as of January 12,
          1996, which is filed as Exhibit (a)(9) to the Purchaser's
          Tender Offer Statement on Schedule 14D-1, filed originally
          on January 12, 1996, such Section, which is attached hereto
          as Exhibit 99.1 is herein incorporated by reference. 

     Item 5.   OTHER EVENTS

               Following the merger referenced in Item 1, the New York
          Stock Exchange, Inc. ("NYSE") suspended trading, effective
          April 30, 1996, in the common stock of Loral (NYSE:LOR) and
          in the following debt securities of Loral:

               7.0% senior debentures due September 15, 2023 (NYSE:LOR/S23)

               7 5/8% senior notes due June 15, 2004 (NYSE:LOR04)

               7 5/8% senior debentures due June 15, 2025 (NYSE:LOR25)

               8 3/8% senior debentures due January 15, 2023 (NYSE:LORJ23)

               8 3/8% senior debentures due June 15, 2024 (NYSE:LOR24)

               Applications were made to the Securities and Exchange 
          Commission (the "Commission") to delist Loral's common stock 
          and the above debt securities on May 2, 1996 and May 6, 1996, 
          respectively.  It is anticipated that these applications will 
          be granted. Therefore, it is not anticipated that Tactical 
          Systems will continue to file reports, proxy statements and 
          other information with the Commission under the Securities 
          Exchange Act of 1934 (the "Exchange Act").  In the event that 
          Tactical Systems does not file reports, proxy statements and other
          information with the Commission under the Exchange Act, summarized
          financial information in respect of Tactical Systems may be
          included in the footnotes to the audited consolidated finan-
          cial statements of the Lockheed Martin included in Lockheed
          Martin's Annual Report on Form 10-K filed pursuant to Sec-
          tion 13 of the Exchange Act.

     Item 7.   FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION 
               AND EXHIBITS 

     (c)  EXHIBITS

          EXHIBIT 99.1   Section 9, entitled "Source and Amount of
                         Funds" of the Offer to Purchase, dated as of
                         January 12, 1996, which is filed as Exhibit
                         (a)(9) to the Purchaser's Tender Offer State-
                         ment on Schedule 14D-1, filed originally on
                         January 12, 1996.


               Pursuant to the requirements of the Securities Exchange
     Act of 1934, the registrant has duly caused this report to be
     signed on its behalf by the undersigned hereunto duly authorized.

                                   Lockheed Martin Tactical Systems, Inc.
                                   (as successor corporation to Loral 
                                     Corporation)

     Date:  May 7, 1996               By: /s/   STEPHEN M. PIPER   
                                         ______________________________
                                         Name:  Stephen M. Piper
                                         Title: Vice President and Assistant 
                                                Secretary


                                 EXHIBIT INDEX

               EXHIBIT NUMBER           DESCRIPTION

               EXHIBIT 99.1             Section 9, entitled "Source
                                        and Amount of Funds" of the
                                        Offer to Purchase, dated as
                                        of January 12, 1996, which is
                                        filed as Exhibit (a)(9) to
                                        the Purchaser's Tender Offer
                                        Statement on Schedule 14D-1
                                        filed originally on January
                                        12, 1996.
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SECURITIES AND EXCHANGE COMMISSION

                           Washington, DC  20549

                                               

                                  FORM 8-K

                               CURRENT REPORT

                   PURSUANT TO SECTION 13 OR 15(d) OF THE
                      SECURITIES EXCHANGE ACT OF 1934

     Date of report (Date of earliest event reported):  April 23, 1996

                   Lockheed Martin Tactical Systems, Inc.
              (as successor corporation to Loral Corporation)
             (Exact Name of Registrant as Specified in Charter)

                New York                  1-4238              13-1718360    
     (State or Other Jurisdiction      (Commission          (IRS Employer   
          of Incorporation)            File Number)         Identification No.)

          6801 Rockledge Drive, Bethesda, Maryland          20817     
          (Address of Principal Executive Offices)     (Zip Code)     

     Registrant's telephone number, including area code   (301) 897-6000

       Loral Corporation, 600 Third Avenue, New York, New York 10016
       (Former Name or Former Address, if Changed Since Last Report)

     Item 1.   CHANGES IN CONTROL OF THE REGISTRANT

               The Offer.  On January 12, 1996 LAC Acquisition Corpo-
          ration (the "Purchaser"), a wholly owned subsidiary of
          Lockheed Martin Corporation ("Lockheed Martin"), commenced a
          cash tender offer (the "Offer") for all of the outstanding
          shares of Common Stock (the "Shares"), par value $0.25 per
          share, of Loral Corporation (the "Company" or "Loral").  The
          Offer was made pursuant to an Agreement and Plan of Merger
          dated as of January 7, 1995 (the "Merger Agreement") by and
          among the Company, Purchaser and Lockheed Martin. The Offer
          expired at Midnight, New York City time, on April 22, 1996. 
          Based on the final information provided by the First Chicago
          Trust Company of New York (the "Depositary"), a total of
          166,529,814 Shares (or approximately 95%) were validly
          tendered and not withdrawn pursuant to the Offer, including
          13,738,017 Shares tendered pursuant to notices of guaranteed
          delivery.  The Purchaser has accepted for payment all such
          Shares at a purchase price of $38.00 per Share in cash. 
          Through April 29, 1996 166,449,231 Shares had been purchased
          by the Purchaser pursuant to the Offer.

               The Merger.  On April 29, 1996 a merger of the Purchas-
          er with and into the Company (the "Merger") pursuant to
          Section 905 of the New York Business Corporation Law (the
          "NYBCL") became effective.  The Company was the Surviving
          Corporation in the Merger and was renamed Lockheed Martin
          Tactical Systems, Inc. ("Tactical Systems").  The Merger was
          the second and final step in the acquisition of the Company
          pursuant to the Merger Agreement.  The first step was the
          Offer described above.  Under the Merger Agreement, each
          Share outstanding immediately prior to the effective time of
          the Merger was converted solely into the right to receive
          the merger consideration of $38.00 per Share in cash.  As a
          result of the Merger, the Company (now known as Tactical
          Systems) became a wholly owned subsidiary of Lockheed Mar-
          tin.

               Source and Amount of Funds.  A description of the
          source and amount of funds required to consummate the trans-
          actions contemplated by the Offer and the Merger Agreement
          is contained in Section 9, entitled "Source and Amount of
          Funds" of the Offer to Purchase, dated as of January 12,
          1996, which is filed as Exhibit (a)(9) to the Purchaser's
          Tender Offer Statement on Schedule 14D-1, filed originally
          on January 12, 1996, such Section, which is attached hereto
          as Exhibit 99.1 is herein incorporated by reference. 

     Item 5.   OTHER EVENTS

               Following the merger referenced in Item 1, the New York
          Stock Exchange, Inc. ("NYSE") suspended trading, effective
          April 30, 1996, in the common stock of Loral (NYSE:LOR) and
          in the following debt securities of Loral:

               7.0% senior debentures due September 15, 2023 (NYSE:LOR/S23)

               7 5/8% senior notes due June 15, 2004 (NYSE:LOR04)

               7 5/8% senior debentures due June 15, 2025 (NYSE:LOR25)

               8 3/8% senior debentures due January 15, 2023 (NYSE:LORJ23)

               8 3/8% senior debentures due June 15, 2024 (NYSE:LOR24)

               Applications were made to the Securities and Exchange 
          Commission (the "Commission") to delist Loral's common stock 
          and the above debt securities on May 2, 1996 and May 6, 1996, 
          respectively.  It is anticipated that these applications will 
          be granted. Therefore, it is not anticipated that Tactical 
          Systems will continue to file reports, proxy statements and 
          other information with the Commission under the Securities 
          Exchange Act of 1934 (the "Exchange Act").  In the event that 
          Tactical Systems does not file reports, proxy statements and other
          information with the Commission under the Exchange Act, summarized
          financial information in respect of Tactical Systems may be
          included in the footnotes to the audited consolidated finan-
          cial statements of the Lockheed Martin included in Lockheed
          Martin's Annual Report on Form 10-K filed pursuant to Sec-
          tion 13 of the Exchange Act.

     Item 7.   FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION 
               AND EXHIBITS 

     (c)  EXHIBITS

          EXHIBIT 99.1   Section 9, entitled "Source and Amount of
                         Funds" of the Offer to Purchase, dated as of
                         January 12, 1996, which is filed as Exhibit
                         (a)(9) to the Purchaser's Tender Offer State-
                         ment on Schedule 14D-1, filed originally on
                         January 12, 1996.

               Pursuant to the requirements of the Securities Exchange
     Act of 1934, the registrant has duly caused this report to be
     signed on its behalf by the undersigned hereunto duly authorized.

                                   Lockheed Martin Tactical Systems, Inc.
                                   (as successor corporation to Loral 
                                     Corporation)

     Date:  May 7, 1996               By: /s/   STEPHEN M. PIPER   
                                         ______________________________
                                         Name:  Stephen M. Piper
                                         Title: Vice President and Assistant 
                                                Secretary

                                 EXHIBIT INDEX

               EXHIBIT NUMBER           DESCRIPTION

               EXHIBIT 99.1             Section 9, entitled "Source
                                        and Amount of Funds" of the
                                        Offer to Purchase, dated as
                                        of January 12, 1996, which is
                                        filed as Exhibit (a)(9) to
                                        the Purchaser's Tender Offer
                                        Statement on Schedule 14D-1
                                        filed originally on January
                                        12, 1996.