L3Harris Technologies Awarded Second Year of Space Object-Tracking Modernization Contract

Rhea-AI Summary

L3Harris Technologies (NYSE:LHX) has secured an $89 million contract for option-year two of the U.S. Space Force and U.S. Space Command's Maintenance Of Space Situational Awareness Integrated Capabilities (MOSSAIC) program. This initiative aims to enhance infrastructure for tracking objects in space, contributing to a total estimated contract value of $1.2 billion over ten years. The program is essential for providing timely and accurate space domain awareness data critical for military operations.

Positive

• Award of $89 million for option-year two of the MOSSAIC program.
• Total estimated contract value of $1.2 billion over ten years.
• Enhancements to tracking infrastructure support military, civil, and commercial space operations.

Negative

• None.

L3Harris Technologies (NYSE:LHX) has been awarded $89 million for option-year two of a U.S. Space Force and U.S. Space Command contract to continue maintaining and modernizing infrastructure to track objects in space. The Maintenance Of Space Situational Awareness Integrated Capabilities (MOSSAIC) program has an estimated contract value of $1.2 billion over 10 years.

L3Harris won the initial MOSSAIC contract in February 2020 to maintain and upgrade radar and optical sensors and command and control systems that provide timely, accurate space domain awareness data for military, civil and commercial users. (Photo: Business Wire)

“MOSSAIC improves the systems the Space Force and Space Command use to better understand the location and behavior of objects in space,” said Ed Zoiss, President, L3Harris Space and Airborne Systems. “Space domain awareness is rooted in data, and having the right data at the right time is critical to warfighting operations in all domains.”

L3Harris won the initial MOSSAIC contract in February 2020 to maintain and upgrade radar and optical sensors and command and control systems that provide timely, accurate space domain awareness data for military, civil and commercial users.

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 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/20210225005593/en/