After an analysis of its “strategic options” regarding its Commercial Space Systems unit, Lockheed Martin [NYSE: LMT] has decided not to sell or close it.

“Rather than aligning [the unit] with another satellite manufacturer, or discontinuing operations, we will continue to strengthen our competitive posture by improving efficiencies and focus on winning new business in 2003,” said Robert J. Stevens, Lockheed Martin’s president and chief operating officer.

Lockheed Martin did say it would “advance and extend its aggressive realignment initiative, begun in July 2001, to consolidate and streamline management, engineering and manufacturing organizations at the unit,” which is located in Newtown, Pa.