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L3Harris and Air Tractor Sky Warden Team Selected for USSOCOM Armed Overwatch Contract
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
L3Harris Technologies has been awarded a contract by SOCOM for the Sky Warden™ system, aimed at strengthening irregular warfare capabilities. The contract, with a ceiling of $3 billion, includes an initial award of $170 million for up to 75 aircraft. Production will begin in 2023. The aircraft will offer close air support, precision strikes, and armed ISR capabilities. This reflects L3Harris's commitment to delivering advanced solutions for U.S. special operations, enhancing their operational efficiency in various environments.
Positive
Contract award from SOCOM for Sky Warden™ enhances L3Harris's market position.
Potential revenue of up to $3 billion from the SOCOM contract.
Initial contract award of $170 million ensures immediate financial inflow.
Production scheduled to begin in 2023, indicating timely delivery of advanced aircraft.
Negative
None.
Highlights:
Sky Warden™ system to expand SOCOM’s irregular warfare capabilities
SOCOM weapon system testing begins in 2022
Six new aircraft will be delivered under the low-rate initial production Lot 1
MELBOURNE, Fla.--(BUSINESS WIRE)--
U.S. Special Operations Command (USSOCOM) has selected L3Harris Technologies (NYSE:LHX) and Air Tractor Inc.’s AT-802U Sky Warden™ system for its Armed Overwatch program. Award of the Indefinite Quantity, Indefinite Delivery contract includes a cost ceiling of $3 billion. The program includes delivery of up to 75 manned, fixed wing aircraft, with an initial program contract award of $170 million.
The fleet of modern multi-mission aircraft will address SOCOM’s need for a deployable, sustainable single-engine fixed-wing, crewed and affordable aircraft system. It will provide close air support, precision strike, armed intelligence, surveillance and reconnaissance (ISR), strike coordination and forward air controller requirements for use in austere and permissive environments. The aircraft will be used in irregular warfare operations.
“An important part of our Trusted Disruptor strategy is listening closely to combatant commanders’ needs, and responding faster than the evolving threats,” said Christopher E. Kubasik, Chair and Chief Executive Officer, L3Harris. “We want to deliver game-changing, modular solutions to U.S. special operators for their hardest missions, and Sky Warden does just that.”
L3Harris expects to rapidly modify last summer’s Armed Overwatch prototype demonstrator into the production configuration and provide for customer weapon system testing in approximately six months. Production of new, fully-modified, Armed Overwatch mission-configured aircraft will begin in 2023 at L3Harris’ Tulsa, Okla. modification center, following initial production at Air Tractor’s Olney, Texas aircraft manufacturing facility. Six new aircraft will be delivered under the low-rate initial production Lot 1.
“Sky Warden will bring powerful and affordable close air support, precision strike, armed ISR, and command and control capabilities directly to special operations forces in the battlefield,” said Sean Stackley, President, Integrated Mission Systems, L3Harris. “We are ready now to begin work on this modern, multi-mission system for the SOCOM Armed Overwatch program.”
The production-ready Sky Warden system is tailorable for a variety of mission requirements to meet U.S. mission needs.
“The Sky Warden design reflects our commitment to America’s national security and the AT-802U will be equipped with everything we’ve learned manufacturing aircraft over the past 46 years,” said Jim Hirsch, President, Air Tractor Inc. “The L3Harris team is an excellent partner, and our production and engineering staff are ready to immediately deliver this world-class product to our nation’s special forces.”
L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. The company provides advanced defense and commercial technologies across space, air, land, sea and cyber domains. L3Harris has more than $17 billion in annual revenue and 47,000 employees, with customers in more than 100 countries. L3Harris.com.
About Air Tractor Inc.
Air Tractor is a leading manufacturer of purpose-built aircraft for agricultural, firefighting, and utility applications. Air Tractor aircraft can be found in more than 30 countries around the world and are supported by a global network of Air Tractor dealers. Air Tractor delivered its 4,000th aircraft in March 2021 and has manufactured aircraft for 46 years. https://airtractor.com/
Forward-Looking Statements
This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about the value or expected value of orders, contracts or programs and about system capabilities are forward-looking and involve risks and uncertainties. L3Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
What is the significance of the SOCOM contract for L3Harris (LHX)?
The SOCOM contract for the Sky Warden™ system is significant for L3Harris (LHX) as it could generate up to $3 billion in revenue, enhancing its market position in defense technology.
When will production of the Sky Warden™ aircraft begin?
Production of the Sky Warden™ aircraft is scheduled to begin in 2023.
What capabilities does the Sky Warden™ system provide for SOCOM?
The Sky Warden™ system offers close air support, precision strikes, and armed ISR capabilities, addressing SOCOM's needs for irregular warfare operations.
How many aircraft will be delivered under the initial contract for the Sky Warden™ system?
The initial contract includes the delivery of up to 75 manned, fixed-wing aircraft.
What is the initial contract value awarded to L3Harris for the Sky Warden™ system?
The initial contract awarded to L3Harris for the Sky Warden™ system is valued at $170 million.
