Lockheed Martin Corporation (NYSE:LMT) announced that its Information Systems and Global Solutions, which is one of the sponsors of the 40th Air Race Classic (ARC) will sponsor it on the event date  June 21st. The mission of the race will be to feature 130 women pilots, encouraging women in the field.

The event will focus on creating public awareness about the general aviation and will show the role of women in the aviation industry. Lockheed has always portrayed itself as the champion of women in aviation.

The race will begin in Prescott, and will make its way through New Mexico, Texas, and other places, taking two days to complete landing in Daytona Beach Fla. Some of the pilots are expected to come just before the race.

ARC Pilots age range in the bracket of 17-90 years old. They are from all sorts of background, and flying wide variety of aircrafts.

Some of the conditions of the race include having two women pilots, and they must fly during the day light hours. Furthermore, four days are given for flybys on the route timing point after which they will have to land at the terminus.

Southern Field Aviation will also be participating for the first time in the Air Race Classic. This year will be marking the 40thanniversary for this race as well as for the establishment of Southern Field Aviation.

Lockheed stock traded at $237.56 as at the closing bell on Friday. The stock price lies in the 52-week range of $181.91-245.37. The company has a market cap of $72.45 billion.