L3Harris Technologies Awarded $233 Million in Contracts to Support Key Australia Defence Force Modernization Initiatives

Rhea-AI Summary

L3Harris Technologies (NYSE:LHX) has secured contracts worth $233 million from the Australian Defence Force to provide secure communications and advanced night vision technology. The contracts include a three-year, $115 million follow-on contract for cryptographic modernization and $118 million for enhanced night vision capabilities. These technologies aim to bolster the situational awareness and safety of Australian soldiers. Both contracts will feature in-country support and repair services in Australia.

Positive

• Secured contracts totaling $233 million from the Australian Defence Force.
• Three-year $115 million follow-on contract for cryptographic modernization.
• $118 million contract for advanced night vision technology.
• Enhanced situational awareness and safety for soldiers with new technologies.
• In-country support and repair capabilities included in both contracts.

Negative

• None.

The Australian Defence Force has awarded L3Harris Technologies (NYSE:LHX) contracts totaling $233 million (USD) to deliver secure communications and advanced night vision goggle technology to support the country’s key modernization initiatives.

The Australian Defence Force has awarded L3Harris Technologies contracts totaling $233 million (USD) to deliver secure communications and advanced night vision goggle technology to support the country’s key modernization initiatives. (Photo: Business Wire)

L3Harris was awarded a three-year, $115 million follow-on FFP contract under the Direct Commercial Sale (DCS) arrangements for the Australian Defence Force’s Delphic - Cryptographic Modernization program. L3Harris will deliver tactical radios, waveforms and ancillaries that support emerging cryptographic modernization standards.

The company also was awarded a $118 million contract to provide advanced night vision goggle technology to enhance Army soldiers’ ability to locate and engage threats – improving their situational awareness, mobility and safety. The award follows L3Harris’ successful delivery of night vision technology for Tranche 1 of the Land 53 program in 2020.

L3Harris will deliver its Fused Night Vision System (FNVS), which incorporates the latest in night vision capabilities – fusing image intensification technology with thermal imagery to provide soldiers with enhanced situational awareness, targeting and identification capability in all battlefield conditions and light levels. When combined with the L3Harris battery pack, the FNVS delivers critical battlefield information directly to the soldier’s eye.

Both contracts include full in-country support and repair capabilities in Australia.

“These key modernization programs extend L3Harris’ long-term partnership with the Australian Defence Force, supporting mission needs for advanced secure communications and night vision capabilities, and will also leverage our expanded technical support capability in Australia,” said Dana Mehnert, President, Communication Systems, L3Harris.

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.

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, 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/20210126005226/en/

FAQ

What contracts did L3Harris Technologies secure from the Australian Defence Force?

L3Harris secured contracts totaling $233 million to provide secure communications and advanced night vision technology.

How much are the contracts awarded to L3Harris Technologies worth?

The contracts awarded to L3Harris Technologies are worth $233 million.

What is the duration of the follow-on contract for cryptographic modernization?

The follow-on contract for cryptographic modernization is for three years.

What technology will L3Harris provide to enhance soldier safety?

L3Harris will provide advanced night vision goggle technology to enhance soldier safety and situational awareness.

What benefits do the contracts bring to Australian soldiers?

The contracts will improve situational awareness, mobility, and safety for Australian soldiers.