L3Harris Completes Final US Missile Defense Agency Satellite Design Milestone

Rhea-AI Summary

L3Harris Technologies (NYSE:LHX) has successfully completed the Critical Design Review (CDR) for the U.S. Missile Defense Agency’s Hypersonic and Ballistic Tracking Space Sensor (HBTSS) program. This milestone allows the company to meet cost, performance, and schedule requirements as they initiate satellite construction. The program aims to detect and track missile threats using advanced infrared sensors. With rising concerns over hypersonic threats from China and Russia, L3Harris is prioritizing investments in innovative satellite solutions.

Positive

• Completed Critical Design Review (CDR) for HBTSS program, ensuring compliance with cost and performance requirements.
• Initiating satellite construction following successful CDR, signaling effective project management.
• Strategic focus on countering hypersonic threats aligns with increasing demand for missile defense solutions.

Negative

• None.

Highlights:

• Completes Critical Design Review (CDR) in support of urgent missile-tracking architecture
• Buying and building in tandem enabled rapid demonstration to respond to threats
• Follows 2020 Missile Defense Agency prototype award

MELBOURNE, Fla.--(BUSINESS WIRE)-- L3Harris Technologies (NYSE:LHX) completed the final major design milestone on the U.S. Missile Defense Agency’s (MDA) Hypersonic and Ballistic Tracking Space Sensor (HBTSS) program Phase IIb On-orbit Prototype Demonstration and has already begun building the demonstration satellite.

Completing the CDR is the final design milestone ensuring performance, cost and schedule requirements can be met before beginning to build the satellite. However, L3Harris has been building and buying components concurrently to maintain an aggressive schedule.

“L3Harris is moving quickly, in collaboration with our customer, to provide prototype HBTSS satellites that demonstrate the sensitivity and fire control quality of service necessary to support the hypersonic kill chain,” said Ed Zoiss, president, L3Harris Space & Airborne Systems. “Recent events with China and Russia increase the urgency to counter hypersonics and advanced maneuvering threats.”

HBTSS is one of several proposed systems within the Department of Defense’s next-generation proliferated low-Earth orbit space architecture. The program’s objective is to demonstrate the capability to detect and track traditional and emerging missile threats using infrared sensors and advanced processing capability.

L3Harris has prioritized investments in end-to-end satellite solutions in spacecraft, payloads, ground software and advanced algorithms. The Missile Defense Agency awarded L3Harris a study contract in 2019 and the prototype demonstration in January 2021. In December 2020, the Space Development Agency selected L3Harris to build and launch four space vehicles to demonstrate the capability to detect and track ballistic and hypersonic missiles.

About L3Harris Technologies

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 approximately $18 billion in annual revenue and 47,000 employees, with customers in more than 100 countries. L3Harris.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 or about system or technology 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211220005271/en/

Kristin P. Jones

Space and Airborne Systems

Kristin.P.Jones@L3Harris.com

571-419-4718

Jim Burke

Corporate

Jim.Burke@L3Harris.com

321-727-9131

Source: L3Harris Technologies

FAQ

What milestone did L3Harris Technologies achieve regarding the HBTSS program?

L3Harris completed the Critical Design Review (CDR), a crucial milestone for the HBTSS program.

Why is the HBTSS program important for L3Harris Technologies?

The HBTSS program is vital for detecting and tracking missile threats, especially amid growing concerns about hypersonic capabilities from China and Russia.

What are the implications of the recent design review for L3Harris Technologies' stock?

Completing the design review positions L3Harris favorably in the defense sector, potentially boosting investor confidence.

How does the HBTSS program relate to U.S. defense strategies?

The HBTSS program is part of the U.S. Department of Defense's strategy to enhance missile defense capabilities against emerging threats.