L3Harris Technologies and American Rheinmetall Vehicles Team to Pursue US Army’s New Fighting Vehicle

Rhea-AI Summary

L3Harris Technologies (NYSE:LHX) and American Rheinmetall Vehicles have entered a teaming agreement to develop the U.S. Army’s new Optionally Manned Fighting Vehicle (OMFV), aimed at replacing the Bradley Infantry Fighting Vehicle. This collaboration merges L3Harris’ expertise in open system design with American Rheinmetall’s Lynx next-gen vehicle technology, promising a low-risk, easily upgradable OMFV solution. The partnership emphasizes cost-effective upgrades and leverages past experiences in military vehicle development.

Positive

• Joint development of OMFV enhances strategic positioning in defense contracts.
• Utilization of L3Harris' MOSA for cost-effective upgrades strengthens competitive advantage.

Negative

• None.

L3Harris Technologies (NYSE:LHX) and American Rheinmetall Vehicles have signed a teaming agreement to jointly develop the U.S. Army’s new Optionally Manned Fighting Vehicle (OMFV), which will replace the Bradley Infantry Fighting Vehicle.

American Rheinmetall Vehicles, the prime contractor, selected L3Harris to provide vehicle mission systems, cybersecurity and its modular open systems approach (MOSA) for the Lynx.( Image Credit: American Rheinmetall Vehicles)

The agreement combines L3Harris’ open system design and equipment manufacturing leadership with the maturity and modularity of American Rheinmetall Vehicles’ Lynx next-generation fighting vehicle for an OMFV offering that is low-risk and easily upgradable.

American Rheinmetall Vehicles, the prime contractor, selected L3Harris to provide vehicle mission systems, cybersecurity and its modular open systems approach (MOSA) for the Lynx. L3Harris’ MOSA can enable cross-platform and cross-domain commonality of parts and subsystems to allow for easy and affordable upgrades.

“We have a long history providing similar support to multiple platforms using our MOSA approach for mission systems and electronic warfare,” said James Gear, Vice President, L3Harris Domestic Business Development. “We look forward to working with American Rheinmetall Vehicles to further expand into the ground defense vehicle market.”

“We are excited to have L3Harris join our growing team to support the U.S. Army’s OMFV program,” said Mathew Warnick, Managing Director for American Rheinmetall Vehicles. “Their experience in open architecture, communications, and cybersecurity bring tremendous capability to the American Rheinmetall Vehicles team as we prepare our digitally engineered OMFV to provide our Soldiers overmatch now and for the future.”

The design approach is grounded in the reuse of technologies and lessons from the family of L3Harris programs and engagements around the Army’s modular open aviation and ground endeavors.

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 air, land, sea, space and cyber domains. L3Harris has approximately $18 billion in annual revenue and 48,000 employees, with customers in more than 100 countries. L3Harris.com.

About American Rheinmetall Vehicles

American Rheinmetall Vehicles, located in Sterling Heights, Michigan, is part of Rheinmetall’s Vehicle Systems Division and brings the group’s unbeatable global product portfolio to the U.S. market. ARV specializes in tracked and wheeled combat vehicle platforms, tactical wheeled vehicles, and associated subsystems. Addressing the critical design needs of today’s customer, ARV delivers vehicles with supporting open system architectures that enable the rapid insertion of technology in the modern era of fast-paced innovation. ARV’s strengths in vehicle design and development, engineering and system integration make it a superb partner for U.S. customers in bringing combat vehicle platforms that are Next-Generation – Now. For more information, visit www.rheinmetall-arv-us.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 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/20210414005460/en/

FAQ

What is the teaming agreement between L3Harris and American Rheinmetall Vehicles about?

L3Harris and American Rheinmetall Vehicles are collaborating on the U.S. Army's Optionally Manned Fighting Vehicle (OMFV) project to replace the Bradley Infantry Fighting Vehicle.

What are the benefits of the OMFV project for L3Harris Technologies?

The OMFV project strategically positions L3Harris for defense contracts and leverages their modular open systems approach (MOSA) for cost-effective upgrades.

When was the teaming agreement for the OMFV signed?

The teaming agreement was announced in April 2021.

How does the partnership impact LHX stock?

The partnership could positively influence LHX stock by enhancing revenue prospects from defense contracts.