<PAGE>
 
   As filed with the Securities and Exchange Commission on January 21, 1996.
                                                            Registration No. 33-
--------------------------------------------------------------------------------


                       SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.  20549
                              ____________________

                                    FORM S-8

                             REGISTRATION STATEMENT
                                     Under
                           THE SECURITIES ACT OF 1933
                              ____________________

                          LOCKHEED MARTIN CORPORATION
             (Exact name of registrant as specified in its charter)

        Maryland                                  52-1893632
(State or other jurisdiction of          (I.R.S. Employer Identification No.)
 incorporation or organization)


                              6801 Rockledge Drive
                            Bethesda, Maryland 20817
                    (Address of principal executive offices)

                              ____________________

               Lockheed Martin Corporation Salaried Savings Plan
              Lockheed Martin Corporation Salaried Savings Plan II
         Lockheed Martin Corporation Hourly Employee Savings Plan Plus
        Lockheed Martin Corporation Hourly Employee Investment Plan Plus
                            (Full title of the plan)

                              ____________________

                           Stephen M. Piper, Esquire
                         Associate General Counsel and
                              Assistant Secretary
                          Lockheed Martin Corporation
                              6801 Rockledge Drive
                            Bethesda, Maryland 20817
                                 (301) 897-6000
 (Name, address, including zip code, and telephone number, including area code,
                             of agent for service)

                        CALCULATION OF REGISTRATION FEE

<TABLE> 
<CAPTION> 
----------------------------------------------------------------------------------------------------------------------------------
                                                                Proposed                 Proposed                              
                                                                maximum                  maximum                   Amount of   
  Title of securities              Amount to be               offering price            aggregate                 registration  
  to be registered               registered(1)(2)(3)           per share(4)           offering price(4)              fee(5) 
----------------------------------------------------------------------------------------------------------------------------------
<S>                                       <C>                  <C>                      <C>                           <C> 
Common Stock, par
value $1.00 per share............         1                    $87.875                  $87.875                       $100
----------------------------------------------------------------------------------------------------------------------------------
</TABLE> 
(1)  In addition, pursuant to Rule 416(c) under the Securities Act of 1933, this
     Registration Statement also covers an indeterminate amount of plan
     interests to be offered or sold pursuant to the Plans to which this
     Registration Statement relates.
(2)  The Registrant previously has registered 26,000,000 shares of Lockheed
     Martin Corporation Common Stock on Registration Statement on Form S-8 (Reg.
     No. 33-58097) as well as 18,582,406 shares of Lockheed Martin Corporation
     Common Stock on Registration Statement on Form S-8 (Reg. No. 33-58083) 
     certain of which shares may be issued and sold pursuant to the Plans to
     which this Registration Statement relates and, therefore, are being
     registered hereunder. See "Explanatory Statement."
(3)  The securities registered are allocated among the plans as follows:
     Lockheed Martin Corporation Salaried Savings Plan, 22,500,000 shares;
     Lockheed Martin Corporation Salaried Employee Savings Plan II, 17,282,406
     shares; Lockheed Martin Corporation Hourly Employee Savings Plan Plus,
     2,900,000 shares; Lockheed Martin Corporation Hourly Employee Investment
     Plan Plus, 600,000 shares.
(4)  The fee has been computed, pursuant to Rule 457(h)(1) and guidance provided
     to the Corporation by the Office of Chief Counsel, based on the average of
     the high and low prices reported on the New York Stock Exchange on January
     16, 1997.
(5)  A portion of the registration fee incurred in connection with the
     registration of shares to be offered or sold in connection with the Plans
     to which this Registration Statement relates was previously paid by the
     Registrant in connection with the Registration Statement on Form S-8 (Reg.
     No. 33-58097) and the Registration Statement on Form S-8 (Reg. No. 33-
     58083).  Accordingly, the amount previously paid has been applied as a
     credit against the amount otherwise due hereunder in accordance with
     guidance provided by the Office of Chief Counsel.

--------------------------------------------------------------------------------
<PAGE>
 

                                EXPLANATORY NOTE
                                ----------------

          On March 15, 1995, Lockheed Martin Corporation (the "Corporation")
     filed a registration statement on Form S-8 (Reg. No. 33-58097) (the "Plus
     Plan Registration Statement") registering an aggregate of 26,000,000 shares
     of the Corporation's common stock for use in connection with three of the
     Corporation's benefit plans:  the Lockheed Salaried Employee Savings Plan
     Plus, the Lockheed Hourly Employee Savings Plan Plus and the Lockheed Space
     Operations Company Hourly Employee Investment Plan Plus.  These plans were
     subsequently renamed as follows:  the Lockheed Martin Corporation Salaried
     Employee Savings Plan (the "SSP"), the Lockheed Martin Corporation Hourly
     Employee Savings Plan Plus and the Lockheed Martin Corporation Hourly
     Employee Investment Plan Plus.  Also on March 15, 1995, the Corporation
     filed a registration statement on Form S-8 (Reg. No. 33-58083) (the "PSP
     Registration Statement") registering 18,582,406 shares of the Corporation's
     common stock for use in connection with another of the Corporation's
     benefit plans, the Martin Marietta Corporation Performance Sharing Plan.
     This plan was subsequently renamed the Lockheed Martin Corporation
     Performance Sharing Plan (the "PSP").

          Later in 1997, the Corporation anticipates combining that portion of
     the PSP relating to salaried employees with the SSP.  In anticipation of
     this combination, the Corporation has divided the PSP into two parts, the
     first a continuation of the exiting PSP in which hourly employees will
     continue to participate (the "PSP Plan") and the second, to be known as the
     Lockheed Martin Corporation Salaried Savings Plan II, a continuation of
     that part of the PSP in which salaried employees participate.

          This Registration Statement includes the 26,000,000 shares of the
     Corporation's common stock originally registered pursuant to the Plus Plan
     Registration Statement as well as 17,282,406 shares of the Corporation's
     common stock originally registered pursuant to the PSP Registration
     Statement.  By Post-Effective Amendment No. 1 to the PSP Registration
     Statement filed simultaneously with the filing of this Registration
     Statement, these latter shares have been removed from registration under
     the PSP Registration Statement.  The 1,300,000 shares of the Corporation
     common stock remaining on the PSP Registration Statement remain registered
     thereunder and are available for use in connection with the PSP Plan.

          As described above, this Registration Statement registers an aggregate
     of 43,282,407 shares of the Corporation's common stock.  These shares are
     allocated among the plans to which this Registration Statement pertains as
     follows:  Lockheed Martin Corporation Salaried Savings Plan, 22,500,000
     shares; Lockheed Martin Corporation Salaried Savings Plan II, 17,282,406
     shares; Lockheed Martin Corporation Hourly Employee Savings Plan Plus,
     2,900,000 shares; Lockheed Martin Corporation Hourly Employee Investment
     Plan Plus, 600,000 shares.

                                      -1-
<PAGE>
 
                                    PART II

               INFORMATION REQUIRED IN THE REGISTRATION STATEMENT


     Item 3.  Incorporation of Documents by Reference.
              --------------------------------------- 

          The following documents filed by the Registrant with the Securities
     and Exchange Commission (the "Commission") are incorporated by reference
     and made a part hereof:

               (a) The Registrant's Annual Report on Form 10-K for the year
     ended December 31, 1995 filed with the Commission on March 13, 1996;

               (b) The description of the Registrant's Common Stock contained in
     the Registrant's Registration Statement on Form 8-B filed with the
     Commission pursuant to Section 12 of the Securities Exchange Act of 1934
     (the "Exchange Act") (as amended on Form 8-B/A filed on March 9, 1995), and
     any amendment or report filed for the purpose of updating such description;

               (c) The Registrant's Current Report on Form 8-K filed with the
     Commission on January 12, 1996;

               (d) The Registrant's Current Report on Form 8-K filed with the
     Commission on April 5, 1996;

               (e) The Registrant's Current Report on Form 8-K filed with the
     Commission on May 2, 1996;

               (f) The Registrant's Current Report on Form 8-K/A filed with the
     Commission on May 8, 1996;

               (g) The Registrant's Quarterly Report on Form 10-Q for the
     quarter ended March 31, 1996 filed with the Commission on May 15, 1996;

               (h) The Registrant's Current Report on Form 8-K filed with the
     Commission on May 20, 1996;

               (i) The Registrant's Current Report on Form 8-K filed with the
     Commission on May 28, 1996;

               (j) The Registrant's Current Report on Form 8-K filed with the
     Commission on June 18, 1996;

               (k) The Registrant's Current Report on Form 8-K filed with the
     Commission on June 25, 1996;

               (l) The Registrant's Quarterly Report on Form 10-Q for the
     quarter ended June 30, 1996 filed with the Commission on August 13, 1996;

                                      -2-
<PAGE>
 
               (m) The Annual Report on Form 11-K filed with the Commission on
     June 27, 1996 by the Lockheed Salaried Employee Savings Plan Plus, the
     Lockheed Hourly Employee Savings Plan Plus and the Lockheed Space
     Operations Company Hourly Employee Investment Plan Plus;

               (n) The Annual Report on Form 11-K filed with the Commission on
     June 27, 1996 by the Martin Martin Corporation Performance Sharing Plan;

               (o) The Registrant's Current Report on Form 8-K filed with the
     Commission on October 11, 1996; and

               (p) The Registrant's Quarterly Report on Form 10-Q for the
     quarter ended September 30, 1996 filed with the Commission on November 13,
     1996; and

               (q) The Registrant's Current Report on Form 8-K filed with the
     Commission on January 21, 1997.

          All documents subsequently filed by the Registrant or the Plan
     pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act prior to
     filing of a post-effective amendment which indicates that all securities
     offered have been sold or which deregisters all securities then remaining
     unsold, shall be deemed to be incorporated by reference into this
     Registration Statement and to be a part hereof from the date of the filing
     of such documents.


     Item 4.  Description of Securities.
              ------------------------- 

          Not Applicable


     Item 5.  Interests of Named Experts and Counsel.
              -------------------------------------- 

          The Opinion of Counsel as to the legality of the securities being
     issued (constituting Exhibit 5) has been rendered by counsel who is a full-
     time employee of the Registrant.  Counsel rendering such opinion is
     eligible to participate in the Plans.


     Item 6.  Indemnification of Directors and Officers.
              ----------------------------------------- 

          The Maryland General Corporation Law authorizes Maryland corporations
     to limit the liability of directors and officers to the corporation or its
     stockholders for money damages, except (a) to the extent that it is proved
     that the person actually received an improper benefit or profit in money,
     property or services, for the amount of the benefit or profit in money,
     property or services actually received, (b) to the extent that a judgment
     or other final adjudication adverse to the person is entered in a
     proceeding based on a finding that the person's action or failure to act
     was the result of active and deliberate dishonesty and was material to the

                                      -3-
<PAGE>
 
     cause of action adjudicated in the proceeding or (c) in respect of certain
     other actions not applicable to the Registrant.  Under the Maryland General
     Corporation Law, unless limited by charter, indemnification is mandatory if
     a director or an officer has been successful on the merits or otherwise in
     the defense of any proceeding by reason of his or her service as a director
     unless such indemnification is not otherwise permitted as described in the
     following sentence. Indemnification is permissive unless it is established
     that (a) the act or omission of the director was material to the matter
     giving rise to the proceeding and was committed in bad faith or was the
     result of active and deliberate dishonesty, (b) the director actually
     received an improper personal benefit in money, property or services or (c)
     in the case of any criminal proceeding, the director had reasonable cause
     to believe his or her act or omission was unlawful.  In addition to the
     foregoing, a court of appropriate jurisdiction may under certain
     circumstances order indemnification if it determines that the director or
     officer is fairly and reasonably entitled to indemnification in view of all
     the relevant circumstances, whether or not the director or officer has met
     the standards of conduct set forth in the preceding sentence or has been
     adjudged liable on the basis that a personal benefit was improperly
     received in a proceeding charging improper personal benefit to the director
     or officer.  If the proceeding was an action by or in the right of the
     corporation or involved a determination that the director or officer
     received an improper personal benefit, however, no indemnification may be
     made if the individual is adjudged liable to the corporation, except to the
     extent of expenses approved by a court of competent jurisdiction.

          Article XI of the charter of the Registrant limits the liability of
     directors and officers to the fullest extent permitted by the Maryland
     General Corporation Law.  Article XI of the charter of the Registrant also
     authorizes the Registrant to adopt by-laws or resolutions to provide for
     the indemnification of directors and officers.  Article VI of the By-laws
     of the Registrant provides for the indemnification of the Registrant's
     directors and officers to the fullest extent permitted by the Maryland
     General Corporation Law.  In addition, the Registrant's directors and
     officers are covered by certain insurance policies maintained by the
     Registrant.


     Item 7.  Exemption from Registration Claimed.
              ----------------------------------- 

          Not Applicable


     Item 8.  Exhibits.
              -------- 

         5.  Opinion of Stephen M. Piper, Esquire.

      23-A.  Consent of Ernst & Young LLP.

      23-B.  Consent of Coopers & Lybrand L.L.P.

                                      -4-
<PAGE>
 
       23-C.  Consent of Stephen M. Piper, Esquire (contained in Exhibit 5
              hereof).

         24.  Powers of Attorney.

          The Registrant hereby represents that it will submit or has submitted
     the Plans covered by this Registration Statement to the Internal Revenue
     Service in a timely manner and has made or will make all changes required
     by the Internal Revenue Service in order to qualify the Plans.


     Item 9.  Undertakings.
              ------------ 

          (a) The undersigned registrant hereby undertakes:

               (1) To file, during any period in which offers or sales are being
     made, a post-effective amendment to this registration statement:

                   (i) To include any prospectus required by section 10(a)(3) of
     the Securities Act of 1933;

                  (ii) To reflect in the prospectus any facts or events arising
     after the effective date of the registration statement (or the most recent
     post-effective amendment thereof) which, individually or in the aggregate,
     represent a fundamental change in the information set forth in the
     registration statement;

                 (iii) To include any material information with respect to the
     plan of distribution not previously disclosed in the registration statement
     or any material change to such information in the registration statement;

          Provided, however, that subparagraphs (1)(i) and (1)(ii) do not apply
     if the information required to be included in a post-effective amendment by
     those paragraphs is contained in periodic reports filed by the registrant
     pursuant to section 13 or section 15(d) of the Securities Exchange Act of
     1934 that are incorporated by reference in the registration statement.

               (2) That, for the purpose of determining any liability under the
     Securities Act of 1933, each such post-effective amendment shall be deemed
     to be a new registration statement relating to the securities offered
     therein, and the offering of such securities at that time shall be deemed
     to be the initial bona fide offering thereof.

               (3) To remove from registration by means of a post-effective
     amendment any of the securities being registered which remain unsold at the
     termination of the offering.

          (b) The undersigned registrant hereby undertakes that, for purposes of
     determining any liability under the Securities Act of

                                      -5-
<PAGE>
 
     1933, each filing of the registrant's annual report pursuant to section
     13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where
     applicable, each filing of an employee benefit plan's annual report
     pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is
     incorporated by reference in the registration statement shall be deemed to
     be a new registration statement relating to the securities offered therein,
     and the offering of such securities at that time shall be deemed to be the
     initial bona fide offering thereof.

          (c) Insofar as indemnification for liabilities arising under the
     Securities Act of 1933 may be permitted to directors, officers and
     controlling persons of the registrant pursuant to the foregoing provisions,
     or otherwise, the registrant has been advised that in the opinion of the
     Securities and Exchange Commission such indemnification is against public
     policy as expressed in the Act and is, therefore, unenforceable.  In the
     event that a claim for indemnification against such liabilities (other than
     the payment by the registrant of expenses incurred or paid by a director,
     officer or controlling person of the registrant in the successful defense
     of any action, suit or proceeding) is asserted by such director, officer or
     controlling person in connection with the securities being registered, the
     registrant will, unless in the opinion of its counsel the matter has been
     settled by controlling precedent, submit to a court of appropriate
     jurisdiction the question whether such indemnification by it is against
     public policy as expressed in the Act and will be governed by the final
     adjudication of such issue.

                                      -6-
<PAGE>
 
                                  SIGNATURES


          Pursuant to the requirements of the Securities Act of 1933, the
     Registrant certifies that it has reasonable grounds to believe that it
     meets all of the requirements for filing on Form S-8 and has duly caused
     this registration statement to be signed on its behalf by the undersigned,
     thereunto duly authorized, in the County of Montgomery, State of Maryland
     on the date indicated below.

                          LOCKHEED MARTIN CORPORATION

     Date:  January 21, 1997                By: /s/ Stephen M. Piper
                                                --------------------------------
                                                Stephen M. Piper
                                                Associate General Counsel and
                                                   Assistant Secretary


          Pursuant to the requirements of the Securities Act of 1933, the
     trustees (or other persons who administer the Plan) have duly caused this
     registration statement to be signed on their behalf by the undersigned,
     thereunto duly authorized, in the County of Montgomery, State of Maryland.

     Date:  January 21, 1997                LOCKHEED MARTIN CORPORATION SALARIED
                                              SAVINGS PLAN


                                            By: /s/ Thomas F. Kinstle
                                               ---------------------------------
                                               Thomas F. Kinstle
                                               Vice President -- Employee
                                                   Benefits


                                            LOCKHEED MARTIN CORPORATION SALARIED
                                               SAVINGS PLAN II


                                            By: /s/ Thomas F. Kinstle
                                               ---------------------------------
                                               Thomas F. Kinstle
                                               Vice President -- Employee
                                                   Benefits 

                                            LOCKHEED MARTIN CORPORATION
                                               HOURLY EMPLOYEE SAVINGS PLAN PLUS

                                            By: /s/ Thomas F. Kinstle
                                               ---------------------------------
                                               Thomas F. Kinstle
                                               Vice President -- Employee
                                                   Benefits

                                            LOCKHEED MARTIN CORPORATION HOURLY
                                               EMPLOYEE INVESTMENT PLAN PLUS

                                            By: /s/ Thomas F. Kinstle
                                               ---------------------------------
                                               Thomas F. Kinstle
                                               Vice President -- Employee
                                                   Benefits
<PAGE>
 
     Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons in the
capacities and on the date indicated.

     Signature                Title                             Date
     ---------                -----                             ----
 
/s/ Norman R. Augustine       Chief Executive Officer     January 21, 1997
    -------------------       and Director 
    Norman R. Augustine*      
 
/s/ Marcus C. Bennett         Chief Financial             January 21, 1997
    -----------------         Officer and Director 
    Marcus C. Bennett*                                      
        
/s/ Robert E. Rulon           Chief Accounting            January 21, 1997
    ---------------           Officer  
    Robert E. Rulon*                                         
 
/s/ Vance D. Coffman          Director                    January 21, 1997
    ----------------                     
    Vance D. Coffman*
 
/s/ Houston I. Flournoy       Director                    January 21, 1997
    -------------------
    Houston I. Flournoy*
 
/s/ James F. Gibbons          Director                    January 21, 1997
    ----------------                     
    James F. Gibbons*
 
/s/ Edward E. Hood, Jr.       Director                    January 21, 1997
    -------------------
    Edward E. Hood, Jr.*
 
/s/ Caleb B. Hurtt            Director                    January 21, 1997
    --------------                     
    Caleb B. Hurtt*
 
/s/ Gwendolyn S. King         Director                    January 21, 1997
    -----------------
    Gwendolyn S. King*
 
/s/ Frank C. Lanza            Director                    January 21, 1997
    --------------                     
    Frank C. Lanza*
 
/s/ Vincent N. Marafino       Director                    January 21, 1997
    -------------------
    Vincent N. Marafino*
 
/s/ Eugene F. Murphy          Director                    January 21, 1997
    ----------------                     
    Eugene F. Murphy*
 
/s/ Allen E. Murray           Director                    January 21, 1997
    ----------------                     
    Allen E. Murray*
 
/s/ Bernard L. Schwartz       Director                    January 21, 1997
    -------------------
    Bernard L. Schwartz*
 
/s/ Daniel M. Tellep          Director                    January 21, 1997
    ----------------                     
    Daniel M. Tellep*
 
<PAGE>
 
/s/ Carlisle A.H. Trost       Director                    January 21, 1997
    -------------------
    Carlisle A.H. Trost*
 
/s/ James R. Ukropina         Director                    January 21, 1997
    -----------------
    James R. Ukropina*
 
/s/ Douglas C. Yearley        Director                    January 21, 1997
    ------------------
    Douglas C. Yearley*
 
           *By:/s/ Stephen M. Piper                       January 21, 1997
               --------------------
        (Stephen M. Piper, Attorney-in-fact**)

--------------------

**By authority of Powers of Attorney filed with this Registration Statement 
  on Form S-8
<PAGE>
 
                                 EXHIBIT INDEX


     Exhibit                                                       Page
     Number                   Description                           No.
     ------                   -----------                          ----

         5.      Opinion of Stephen M. Piper, Esquire.

      23-A.      Consent of Ernst & Young LLP.

      23-B.      Consent of Coopers & Lybrand L.L.P.

      23-C.      Consent of Stephen M. Piper, Esquire
                 (contained in Exhibit 5 hereof).

        24.      Powers of Attorney.
[{"type": "S-8", "sequence": "1", "description": "FORM S-8", "secsgml_size_bytes": 28019}]
{"company-data": {"conformed-name": "LOCKHEED MARTIN CORP", "cik": "0000936468", "assigned-sic": "3760", "irs-number": "521893632", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-20117", "film-number": "97508587"}, "business-address": {"street1": "6801 ROCKLEDGE DR", "city": "BETHESDA", "state": "MD", "zip": "20817", "phone": "3018976000"}, "mail-address": {"street1": "6801 ROCKLEDGE DRIVE", "city": "BETHESDA", "state": "MD", "zip": "20817"}}
As filed with the Securities and Exchange Commission on January 21, 1996.
                                                            Registration No. 33-
--------------------------------------------------------------------------------

                       SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.  20549
                              ____________________

                                    FORM S-8

                             REGISTRATION STATEMENT
                                     Under
                           THE SECURITIES ACT OF 1933
                              ____________________

                          LOCKHEED MARTIN CORPORATION
             (Exact name of registrant as specified in its charter)

        Maryland                                  52-1893632
(State or other jurisdiction of          (I.R.S. Employer Identification No.)
 incorporation or organization)

                              6801 Rockledge Drive
                            Bethesda, Maryland 20817
                    (Address of principal executive offices)

                              ____________________

               Lockheed Martin Corporation Salaried Savings Plan
              Lockheed Martin Corporation Salaried Savings Plan II
         Lockheed Martin Corporation Hourly Employee Savings Plan Plus
        Lockheed Martin Corporation Hourly Employee Investment Plan Plus
                            (Full title of the plan)

                              ____________________

                           Stephen M. Piper, Esquire
                         Associate General Counsel and
                              Assistant Secretary
                          Lockheed Martin Corporation
                              6801 Rockledge Drive
                            Bethesda, Maryland 20817
                                 (301) 897-6000
 (Name, address, including zip code, and telephone number, including area code,
                             of agent for service)

                        CALCULATION OF REGISTRATION FEE
----------------------------------------------------------------------------------------------------------------------------------
                                                                Proposed                 Proposed                              
                                                                maximum                  maximum                   Amount of   
  Title of securities              Amount to be               offering price            aggregate                 registration  
  to be registered               registered(1)(2)(3)           per share(4)           offering price(4)              fee(5) 
----------------------------------------------------------------------------------------------------------------------------------
Common Stock, par
value $1.00 per share............         1                    $87.875                  $87.875                       $100
----------------------------------------------------------------------------------------------------------------------------------
(1)  In addition, pursuant to Rule 416(c) under the Securities Act of 1933, this
     Registration Statement also covers an indeterminate amount of plan
     interests to be offered or sold pursuant to the Plans to which this
     Registration Statement relates.
(2)  The Registrant previously has registered 26,000,000 shares of Lockheed
     Martin Corporation Common Stock on Registration Statement on Form S-8 (Reg.
     No. 33-58097) as well as 18,582,406 shares of Lockheed Martin Corporation
     Common Stock on Registration Statement on Form S-8 (Reg. No. 33-58083) 
     certain of which shares may be issued and sold pursuant to the Plans to
     which this Registration Statement relates and, therefore, are being
     registered hereunder. See "Explanatory Statement."
(3)  The securities registered are allocated among the plans as follows:
     Lockheed Martin Corporation Salaried Savings Plan, 22,500,000 shares;
     Lockheed Martin Corporation Salaried Employee Savings Plan II, 17,282,406
     shares; Lockheed Martin Corporation Hourly Employee Savings Plan Plus,
     2,900,000 shares; Lockheed Martin Corporation Hourly Employee Investment
     Plan Plus, 600,000 shares.
(4)  The fee has been computed, pursuant to Rule 457(h)(1) and guidance provided
     to the Corporation by the Office of Chief Counsel, based on the average of
     the high and low prices reported on the New York Stock Exchange on January
     16, 1997.
(5)  A portion of the registration fee incurred in connection with the
     registration of shares to be offered or sold in connection with the Plans
     to which this Registration Statement relates was previously paid by the
     Registrant in connection with the Registration Statement on Form S-8 (Reg.
     No. 33-58097) and the Registration Statement on Form S-8 (Reg. No. 33-
     58083).  Accordingly, the amount previously paid has been applied as a
     credit against the amount otherwise due hereunder in accordance with
     guidance provided by the Office of Chief Counsel.

--------------------------------------------------------------------------------
EXPLANATORY NOTE
                                ----------------

          On March 15, 1995, Lockheed Martin Corporation (the "Corporation")
     filed a registration statement on Form S-8 (Reg. No. 33-58097) (the "Plus
     Plan Registration Statement") registering an aggregate of 26,000,000 shares
     of the Corporation's common stock for use in connection with three of the
     Corporation's benefit plans:  the Lockheed Salaried Employee Savings Plan
     Plus, the Lockheed Hourly Employee Savings Plan Plus and the Lockheed Space
     Operations Company Hourly Employee Investment Plan Plus.  These plans were
     subsequently renamed as follows:  the Lockheed Martin Corporation Salaried
     Employee Savings Plan (the "SSP"), the Lockheed Martin Corporation Hourly
     Employee Savings Plan Plus and the Lockheed Martin Corporation Hourly
     Employee Investment Plan Plus.  Also on March 15, 1995, the Corporation
     filed a registration statement on Form S-8 (Reg. No. 33-58083) (the "PSP
     Registration Statement") registering 18,582,406 shares of the Corporation's
     common stock for use in connection with another of the Corporation's
     benefit plans, the Martin Marietta Corporation Performance Sharing Plan.
     This plan was subsequently renamed the Lockheed Martin Corporation
     Performance Sharing Plan (the "PSP").

          Later in 1997, the Corporation anticipates combining that portion of
     the PSP relating to salaried employees with the SSP.  In anticipation of
     this combination, the Corporation has divided the PSP into two parts, the
     first a continuation of the exiting PSP in which hourly employees will
     continue to participate (the "PSP Plan") and the second, to be known as the
     Lockheed Martin Corporation Salaried Savings Plan II, a continuation of
     that part of the PSP in which salaried employees participate.

          This Registration Statement includes the 26,000,000 shares of the
     Corporation's common stock originally registered pursuant to the Plus Plan
     Registration Statement as well as 17,282,406 shares of the Corporation's
     common stock originally registered pursuant to the PSP Registration
     Statement.  By Post-Effective Amendment No. 1 to the PSP Registration
     Statement filed simultaneously with the filing of this Registration
     Statement, these latter shares have been removed from registration under
     the PSP Registration Statement.  The 1,300,000 shares of the Corporation
     common stock remaining on the PSP Registration Statement remain registered
     thereunder and are available for use in connection with the PSP Plan.

          As described above, this Registration Statement registers an aggregate
     of 43,282,407 shares of the Corporation's common stock.  These shares are
     allocated among the plans to which this Registration Statement pertains as
     follows:  Lockheed Martin Corporation Salaried Savings Plan, 22,500,000
     shares; Lockheed Martin Corporation Salaried Savings Plan II, 17,282,406
     shares; Lockheed Martin Corporation Hourly Employee Savings Plan Plus,
     2,900,000 shares; Lockheed Martin Corporation Hourly Employee Investment
     Plan Plus, 600,000 shares.

                                      -1-
PART II

               INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

     Item 3.  Incorporation of Documents by Reference.
              --------------------------------------- 

          The following documents filed by the Registrant with the Securities
     and Exchange Commission (the "Commission") are incorporated by reference
     and made a part hereof:

               (a) The Registrant's Annual Report on Form 10-K for the year
     ended December 31, 1995 filed with the Commission on March 13, 1996;

               (b) The description of the Registrant's Common Stock contained in
     the Registrant's Registration Statement on Form 8-B filed with the
     Commission pursuant to Section 12 of the Securities Exchange Act of 1934
     (the "Exchange Act") (as amended on Form 8-B/A filed on March 9, 1995), and
     any amendment or report filed for the purpose of updating such description;

               (c) The Registrant's Current Report on Form 8-K filed with the
     Commission on January 12, 1996;

               (d) The Registrant's Current Report on Form 8-K filed with the
     Commission on April 5, 1996;

               (e) The Registrant's Current Report on Form 8-K filed with the
     Commission on May 2, 1996;

               (f) The Registrant's Current Report on Form 8-K/A filed with the
     Commission on May 8, 1996;

               (g) The Registrant's Quarterly Report on Form 10-Q for the
     quarter ended March 31, 1996 filed with the Commission on May 15, 1996;

               (h) The Registrant's Current Report on Form 8-K filed with the
     Commission on May 20, 1996;

               (i) The Registrant's Current Report on Form 8-K filed with the
     Commission on May 28, 1996;

               (j) The Registrant's Current Report on Form 8-K filed with the
     Commission on June 18, 1996;

               (k) The Registrant's Current Report on Form 8-K filed with the
     Commission on June 25, 1996;

               (l) The Registrant's Quarterly Report on Form 10-Q for the
     quarter ended June 30, 1996 filed with the Commission on August 13, 1996;

                                      -2-
(m) The Annual Report on Form 11-K filed with the Commission on
     June 27, 1996 by the Lockheed Salaried Employee Savings Plan Plus, the
     Lockheed Hourly Employee Savings Plan Plus and the Lockheed Space
     Operations Company Hourly Employee Investment Plan Plus;

               (n) The Annual Report on Form 11-K filed with the Commission on
     June 27, 1996 by the Martin Martin Corporation Performance Sharing Plan;

               (o) The Registrant's Current Report on Form 8-K filed with the
     Commission on October 11, 1996; and

               (p) The Registrant's Quarterly Report on Form 10-Q for the
     quarter ended September 30, 1996 filed with the Commission on November 13,
     1996; and

               (q) The Registrant's Current Report on Form 8-K filed with the
     Commission on January 21, 1997.

          All documents subsequently filed by the Registrant or the Plan
     pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act prior to
     filing of a post-effective amendment which indicates that all securities
     offered have been sold or which deregisters all securities then remaining
     unsold, shall be deemed to be incorporated by reference into this
     Registration Statement and to be a part hereof from the date of the filing
     of such documents.

     Item 4.  Description of Securities.
              ------------------------- 

          Not Applicable

     Item 5.  Interests of Named Experts and Counsel.
              -------------------------------------- 

          The Opinion of Counsel as to the legality of the securities being
     issued (constituting Exhibit 5) has been rendered by counsel who is a full-
     time employee of the Registrant.  Counsel rendering such opinion is
     eligible to participate in the Plans.

     Item 6.  Indemnification of Directors and Officers.
              ----------------------------------------- 

          The Maryland General Corporation Law authorizes Maryland corporations
     to limit the liability of directors and officers to the corporation or its
     stockholders for money damages, except (a) to the extent that it is proved
     that the person actually received an improper benefit or profit in money,
     property or services, for the amount of the benefit or profit in money,
     property or services actually received, (b) to the extent that a judgment
     or other final adjudication adverse to the person is entered in a
     proceeding based on a finding that the person's action or failure to act
     was the result of active and deliberate dishonesty and was material to the

                                      -3-
cause of action adjudicated in the proceeding or (c) in respect of certain
     other actions not applicable to the Registrant.  Under the Maryland General
     Corporation Law, unless limited by charter, indemnification is mandatory if
     a director or an officer has been successful on the merits or otherwise in
     the defense of any proceeding by reason of his or her service as a director
     unless such indemnification is not otherwise permitted as described in the
     following sentence. Indemnification is permissive unless it is established
     that (a) the act or omission of the director was material to the matter
     giving rise to the proceeding and was committed in bad faith or was the
     result of active and deliberate dishonesty, (b) the director actually
     received an improper personal benefit in money, property or services or (c)
     in the case of any criminal proceeding, the director had reasonable cause
     to believe his or her act or omission was unlawful.  In addition to the
     foregoing, a court of appropriate jurisdiction may under certain
     circumstances order indemnification if it determines that the director or
     officer is fairly and reasonably entitled to indemnification in view of all
     the relevant circumstances, whether or not the director or officer has met
     the standards of conduct set forth in the preceding sentence or has been
     adjudged liable on the basis that a personal benefit was improperly
     received in a proceeding charging improper personal benefit to the director
     or officer.  If the proceeding was an action by or in the right of the
     corporation or involved a determination that the director or officer
     received an improper personal benefit, however, no indemnification may be
     made if the individual is adjudged liable to the corporation, except to the
     extent of expenses approved by a court of competent jurisdiction.

          Article XI of the charter of the Registrant limits the liability of
     directors and officers to the fullest extent permitted by the Maryland
     General Corporation Law.  Article XI of the charter of the Registrant also
     authorizes the Registrant to adopt by-laws or resolutions to provide for
     the indemnification of directors and officers.  Article VI of the By-laws
     of the Registrant provides for the indemnification of the Registrant's
     directors and officers to the fullest extent permitted by the Maryland
     General Corporation Law.  In addition, the Registrant's directors and
     officers are covered by certain insurance policies maintained by the
     Registrant.

     Item 7.  Exemption from Registration Claimed.
              ----------------------------------- 

          Not Applicable

     Item 8.  Exhibits.
              -------- 

         5.  Opinion of Stephen M. Piper, Esquire.

      23-A.  Consent of Ernst & Young LLP.

      23-B.  Consent of Coopers & Lybrand L.L.P.

                                      -4-
23-C.  Consent of Stephen M. Piper, Esquire (contained in Exhibit 5
              hereof).

         24.  Powers of Attorney.

          The Registrant hereby represents that it will submit or has submitted
     the Plans covered by this Registration Statement to the Internal Revenue
     Service in a timely manner and has made or will make all changes required
     by the Internal Revenue Service in order to qualify the Plans.

     Item 9.  Undertakings.
              ------------ 

          (a) The undersigned registrant hereby undertakes:

               (1) To file, during any period in which offers or sales are being
     made, a post-effective amendment to this registration statement:

                   (i) To include any prospectus required by section 10(a)(3) of
     the Securities Act of 1933;

                  (ii) To reflect in the prospectus any facts or events arising
     after the effective date of the registration statement (or the most recent
     post-effective amendment thereof) which, individually or in the aggregate,
     represent a fundamental change in the information set forth in the
     registration statement;

                 (iii) To include any material information with respect to the
     plan of distribution not previously disclosed in the registration statement
     or any material change to such information in the registration statement;

          Provided, however, that subparagraphs (1)(i) and (1)(ii) do not apply
     if the information required to be included in a post-effective amendment by
     those paragraphs is contained in periodic reports filed by the registrant
     pursuant to section 13 or section 15(d) of the Securities Exchange Act of
     1934 that are incorporated by reference in the registration statement.

               (2) That, for the purpose of determining any liability under the
     Securities Act of 1933, each such post-effective amendment shall be deemed
     to be a new registration statement relating to the securities offered
     therein, and the offering of such securities at that time shall be deemed
     to be the initial bona fide offering thereof.

               (3) To remove from registration by means of a post-effective
     amendment any of the securities being registered which remain unsold at the
     termination of the offering.

          (b) The undersigned registrant hereby undertakes that, for purposes of
     determining any liability under the Securities Act of

                                      -5-
1933, each filing of the registrant's annual report pursuant to section
     13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where
     applicable, each filing of an employee benefit plan's annual report
     pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is
     incorporated by reference in the registration statement shall be deemed to
     be a new registration statement relating to the securities offered therein,
     and the offering of such securities at that time shall be deemed to be the
     initial bona fide offering thereof.

          (c) Insofar as indemnification for liabilities arising under the
     Securities Act of 1933 may be permitted to directors, officers and
     controlling persons of the registrant pursuant to the foregoing provisions,
     or otherwise, the registrant has been advised that in the opinion of the
     Securities and Exchange Commission such indemnification is against public
     policy as expressed in the Act and is, therefore, unenforceable.  In the
     event that a claim for indemnification against such liabilities (other than
     the payment by the registrant of expenses incurred or paid by a director,
     officer or controlling person of the registrant in the successful defense
     of any action, suit or proceeding) is asserted by such director, officer or
     controlling person in connection with the securities being registered, the
     registrant will, unless in the opinion of its counsel the matter has been
     settled by controlling precedent, submit to a court of appropriate
     jurisdiction the question whether such indemnification by it is against
     public policy as expressed in the Act and will be governed by the final
     adjudication of such issue.

                                      -6-
SIGNATURES

          Pursuant to the requirements of the Securities Act of 1933, the
     Registrant certifies that it has reasonable grounds to believe that it
     meets all of the requirements for filing on Form S-8 and has duly caused
     this registration statement to be signed on its behalf by the undersigned,
     thereunto duly authorized, in the County of Montgomery, State of Maryland
     on the date indicated below.

                          LOCKHEED MARTIN CORPORATION

     Date:  January 21, 1997                By: /s/ Stephen M. Piper
                                                --------------------------------
                                                Stephen M. Piper
                                                Associate General Counsel and
                                                   Assistant Secretary

          Pursuant to the requirements of the Securities Act of 1933, the
     trustees (or other persons who administer the Plan) have duly caused this
     registration statement to be signed on their behalf by the undersigned,
     thereunto duly authorized, in the County of Montgomery, State of Maryland.

     Date:  January 21, 1997                LOCKHEED MARTIN CORPORATION SALARIED
                                              SAVINGS PLAN

                                            By: /s/ Thomas F. Kinstle
                                               ---------------------------------
                                               Thomas F. Kinstle
                                               Vice President -- Employee
                                                   Benefits

                                            LOCKHEED MARTIN CORPORATION SALARIED
                                               SAVINGS PLAN II

                                            By: /s/ Thomas F. Kinstle
                                               ---------------------------------
                                               Thomas F. Kinstle
                                               Vice President -- Employee
                                                   Benefits 

                                            LOCKHEED MARTIN CORPORATION
                                               HOURLY EMPLOYEE SAVINGS PLAN PLUS

                                            By: /s/ Thomas F. Kinstle
                                               ---------------------------------
                                               Thomas F. Kinstle
                                               Vice President -- Employee
                                                   Benefits

                                            LOCKHEED MARTIN CORPORATION HOURLY
                                               EMPLOYEE INVESTMENT PLAN PLUS

                                            By: /s/ Thomas F. Kinstle
                                               ---------------------------------
                                               Thomas F. Kinstle
                                               Vice President -- Employee
                                                   Benefits
Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons in the
capacities and on the date indicated.

     Signature                Title                             Date
     ---------                -----                             ----
 
/s/ Norman R. Augustine       Chief Executive Officer     January 21, 1997
    -------------------       and Director 
    Norman R. Augustine*      
 
/s/ Marcus C. Bennett         Chief Financial             January 21, 1997
    -----------------         Officer and Director 
    Marcus C. Bennett*                                      
        
/s/ Robert E. Rulon           Chief Accounting            January 21, 1997
    ---------------           Officer  
    Robert E. Rulon*                                         
 
/s/ Vance D. Coffman          Director                    January 21, 1997
    ----------------                     
    Vance D. Coffman*
 
/s/ Houston I. Flournoy       Director                    January 21, 1997
    -------------------
    Houston I. Flournoy*
 
/s/ James F. Gibbons          Director                    January 21, 1997
    ----------------                     
    James F. Gibbons*
 
/s/ Edward E. Hood, Jr.       Director                    January 21, 1997
    -------------------
    Edward E. Hood, Jr.*
 
/s/ Caleb B. Hurtt            Director                    January 21, 1997
    --------------                     
    Caleb B. Hurtt*
 
/s/ Gwendolyn S. King         Director                    January 21, 1997
    -----------------
    Gwendolyn S. King*
 
/s/ Frank C. Lanza            Director                    January 21, 1997
    --------------                     
    Frank C. Lanza*
 
/s/ Vincent N. Marafino       Director                    January 21, 1997
    -------------------
    Vincent N. Marafino*
 
/s/ Eugene F. Murphy          Director                    January 21, 1997
    ----------------                     
    Eugene F. Murphy*
 
/s/ Allen E. Murray           Director                    January 21, 1997
    ----------------                     
    Allen E. Murray*
 
/s/ Bernard L. Schwartz       Director                    January 21, 1997
    -------------------
    Bernard L. Schwartz*
 
/s/ Daniel M. Tellep          Director                    January 21, 1997
    ----------------                     
    Daniel M. Tellep*
/s/ Carlisle A.H. Trost       Director                    January 21, 1997
    -------------------
    Carlisle A.H. Trost*
 
/s/ James R. Ukropina         Director                    January 21, 1997
    -----------------
    James R. Ukropina*
 
/s/ Douglas C. Yearley        Director                    January 21, 1997
    ------------------
    Douglas C. Yearley*
 
           *By:/s/ Stephen M. Piper                       January 21, 1997
               --------------------
        (Stephen M. Piper, Attorney-in-fact**)

--------------------

**By authority of Powers of Attorney filed with this Registration Statement 
  on Form S-8
EXHIBIT INDEX

     Exhibit                                                       Page
     Number                   Description                           No.
     ------                   -----------                          ----

         5.      Opinion of Stephen M. Piper, Esquire.

      23-A.      Consent of Ernst & Young LLP.

      23-B.      Consent of Coopers & Lybrand L.L.P.

      23-C.      Consent of Stephen M. Piper, Esquire
                 (contained in Exhibit 5 hereof).

        24.      Powers of Attorney.