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L3Harris Technologies, Inc. (NYSE: LHX) is a dynamic global aerospace and defense technology innovator, providing advanced solutions to meet mission-critical needs across multiple domains including space, air, land, sea, and cyber. With an annual revenue of approximately $18 billion and a workforce of 47,000 employees, L3Harris serves customers in over 100 countries.
The company specializes in C4ISR systems, which encompass command, control, communications, computers, intelligence, surveillance, and reconnaissance. L3Harris also produces uncrewed aerial vehicles, sophisticated sensors, and avionics systems, and offers military and commercial training services. Notably, it maintains the U.S. Federal Aviation Administration's communications infrastructure, ensuring seamless operations and safety.
In July 2023, L3Harris acquired Aerojet Rocketdyne, a prominent supplier of rocket motors, bolstering its capabilities in the space and defense industry. This acquisition marks a significant step in expanding the company’s portfolio and enhancing its role in critical aerospace systems.
Recent developments include the creation of the Fisica platform through the sale of certain antenna and test equipment businesses to Kanders & Company for $200 million. This strategic move is expected to foster growth and innovation in the defense sector.
Additionally, L3Harris has entered into a five-year contract with Iridium Communications for the Iridium® Satellite Time and Location (STL) service. This partnership ensures robust timing synchronization for L3Harris’s nationwide communication networks, crucial for supporting the National Airspace System operations.
L3Harris is committed to delivering cutting-edge technologies and services that address the evolving demands of defense and commercial markets. With a solid financial foundation and strategic partnerships, the company is well-positioned for future growth and success.
L3Harris Technologies (NYSE:LHX) has secured a 4-year,
L3Harris Technologies (NYSE:LHX) has secured a contract with the Japan Meteorological Agency to lead a six-month geostationary hyperspectral infrared sounder study aimed at enhancing Japan's weather forecasting accuracy. This study will evaluate advanced sounder instrument concepts and develop algorithms for real-time data processing. The technology seeks to improve severe weather tracking, such as typhoons and tsunamis, potentially saving lives and property. L3Harris continues to be a key provider of weather sensors globally, with significant experience in advanced meteorological solutions.
L3Harris Technologies (NYSE:LHX) will host a conference call on April 29, 2022, at 8:30 a.m. ET to discuss its first quarter 2022 financial results. U.S. participants can join via 877-407-6184 and international participants via 201-389-0877. The call will be available via webcast on L3Harris.com, with a recording accessible by 12 p.m. ET on the same day. L3Harris is a global leader in aerospace and defense technology with over $17 billion in annual revenue and a presence in over 100 countries.
L3Harris Technologies (NYSE:LHX) has secured a $117 million contract extension for the MOSSAIC program, enhancing space situational awareness for the U.S. Space Force. This contract, awarded in February 2020, aims to maintain and modernize systems that track space objects, with a total estimated value of $1.2 billion over ten years. Key efforts will improve the tracking of satellite threats, ensuring the U.S. is better prepared in space operations.
L3Harris Technologies has launched the Agile Development Group (ADG) to enhance national security solutions. With a team of 2,500 engineers and professionals, ADG will focus on advanced sensors, weapons, and unmanned systems. This initiative aims to deliver innovative capabilities rapidly and reduce development costs, aligning with the recent nearly 10% increase in DoD R&D funds. The ADG will also leverage partnerships to integrate commercial and defense technologies, ensuring rapid response to emerging threats.
L3Harris Technologies (NYSE:LHX) has formed a strategic partnership with Shield Capital to advance emerging defense and commercial technologies. This collaboration aims to meet growing customer demands for agile solutions capable of rapid deployment, especially in the national security domain. Key objectives include enhancing innovation through timely funding for disruptive technologies and expanding the integration of high-demand tech solutions. With over $17 billion in annual revenue, L3Harris emphasizes its role as a trusted disruptor in delivering critical solutions for evolving global threats.
L3Harris Technologies (NYSE:LHX) successfully integrated a complex mirror system for NASA’s James Webb Space Telescope, ensuring its capability to capture ancient light. This involved simulating harsh space conditions to rigorously test the telescope, reflecting over a decade of meticulous engineering. The telescope reached its operational orbit on Jan. 24, confirming the successful alignment of its 18 mirrors. L3Harris is also working on the optical telescope for the Nancy Grace Roman Space Telescope, further establishing its role in advanced astrophysics.
Universal Insurance Holdings (NYSE: UVE) has appointed Arash Soleimani as Chief Strategy Officer and promoted Rob Luther to Chief Investment Officer, along with Gary Ropiecki as Principal Accounting Officer. Soleimani will lead strategy and investor relations, while Luther will manage the $1B+ investment portfolio. Ropiecki will oversee enterprise-wide accounting functions. CEO Steve Donaghy emphasized the importance of these appointments for the company's strategic objectives and long-term success.
Airbus Ventures has invested in CesiumAstro Inc., which raised $60 million in a Series B funding round, co-led by Airbus Ventures and Forever Ventures, with participation from L3Harris Technologies (NYSE: LHX) and returning investors including HEICO (NYSE: HEI). CesiumAstro, founded in 2017, has secured nearly $90 million to date, aiming to enhance its research, development, and manufacturing capabilities. The company, based in Austin, Texas, focuses on advanced aerospace communication systems for commercial and defense applications.
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