Lockheed Martin to overhaul business segment

* Expected job losses not specified

* Revamp designed to make company more cost competitive

ATLANTA, Nov 16 (Reuters) - Lockheed Martin Corp (LMT.N: 行情) said on Monday it would revamp its electronics systems division to improve operations and become more cost-competitive, a move that was expected to displace an unspecified number of workers.

The top defense contractor also said Marillyn Hewson, 55, a 26-year Lockheed veteran, would become executive vice president of the electronic systems business segment. In that role, she will succeed Christopher Kubasik, who last month was appointed president and chief operating officer of the company, effective in January.

The electronic systems business, which includes missile manufacture, had 2008 sales of $11.6 billion.

In the revamp of electronic systems, Lockheed said the ground vehicle business line, which includes the Joint Light Tactical Vehicle program, will be realigned from Systems Integration-Owego to its Missiles and Fire Control segment as of Jan. 1, 2010.

It said the rest of the Owego, New York, business would realign with its Maritime Systems and Sensors segment.

Nearly 1,000 jobs have been cut at the Owego operations in wake of U.S. Defense Department cancellations of programs such as the VH-71 presidential helicopter this year. The company said the latest business integration was expected to displace some workers but did not give a job-loss figure.

Lockheed is stepping up efforts to deliver products at lower cost and on shorter cycle times as the Pentagon moves to scale back spending on big weapons programs. (Reporting by Karen Jacobs; Editing by Tim Dobbyn)