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L3Harris Technologies reports news on its defense technology portfolio serving space, air, land, sea and cyber missions for national security customers. Updates commonly cover orders, backlog, revenue trends and segment activity across communications, mission systems, propulsion, missiles, sensors, avionics and space systems.
Company announcements also include dividend actions, production-capacity investments, solid rocket motor expansion, space-mission contributions and partnerships involving satellite systems and Earth-observation data infrastructure. Capital-structure news has included financing and registration activity related to the Missile Solutions business, including operations associated with legacy Aerojet Rocketdyne.
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L3Harris Technologies (NYSE:LHX) has secured a $205 million contract to provide the Shipboard Panoramic Electro-Optic/Infrared (SPEIR) system for the org value="ACORN:3228983497" idsrc="xmltag.org"U.S. Navy, potentially increasing to $593 million through March 2031. This system enhances fleet protection with 360-degree situational awareness capabilities. The collaboration includes org value="OTC-PINK:BAESY" idsrc="xmltag.org"BAE Systems and Lockheed Martin, leveraging advanced technologies to improve combat systems and reduce operator workload.
Duke Energy One and L3Harris Technologies have unveiled a new service providing customized 3D simulations for nuclear facilities. This service aims to address operational challenges while improving efficiency and reducing costs. The immersive simulations utilize ultramodern 3D laser scanning technology to create tailored models, enhancing safety and response preparedness. The comprehensive solution includes decision-making tools, aiding nuclear operators in planning and mitigating radiation risks. This collaboration highlights the importance of nuclear energy for a clean energy future.
Sidus Space (NASDAQ:SIDU) has selected L3Harris Technologies (NYSE:LHX) for its InControl™ and OnTime™ software to manage the LizzieSat™ Constellation. InControl enables comprehensive satellite command and control, while OnTime facilitates mission planning and execution tracking. This collaboration, commencing at the Cape Canaveral facility, aims to optimize operations for over 100 satellites, reducing operational costs significantly. LizzieSats are innovative low Earth orbit microsatellites designed for rapid technology testing and integration, supporting Sidus’s Space-as-a-Service model.
L3Harris Technologies has been awarded a five-year contract by the U.S. Department of Defense (DOD) for artificial intelligence services. This contract, part of the Joint Artificial Intelligence Center (JAIC) initiative, focuses on enhancing data readiness for AI development. It aims to streamline data sharing, discovery, and governance across DOD teams, facilitating faster AI solutions. With over $17 billion in annual revenue, L3Harris supports critical defense services and previously assisted in AI development for intelligence gathering.
L3Harris Technologies (NYSE:LHX) announced a significant increase in its IDIQ contract ceiling with the U.S. Special Operations Command from $255 million to $552 million. This $297 million boost supports the Falcon IV AN/PRC-167 radio systems and is a testament to the robust adoption rate of these systems, with over 20,000 units produced to date. The upgrades also enhance advanced communications through software updates, ensuring a resilient operational advantage for U.S. forces against peer adversaries.
The L3Harris Technologies (NYSE:LHX) high-resolution Advanced Baseline Imager (ABI), crucial for NOAA's weather monitoring, captured its first image after launch. This ABI aboard the GOES-18 satellite provides enhanced monitoring of severe weather every 30 seconds across the western U.S., Hawaii, and Alaska. The satellite is slated to become fully operational soon, enhancing weather prediction and response capabilities. L3Harris is also developing next-generation satellite technologies, contributing significantly to global weather monitoring efforts.
Virgin Orbit announces a significant partnership with L3Harris Technologies to acquire two Boeing 747-400 airframes, enhancing its satellite launch capabilities for U.S. national security and allied demands. The modifications will allow for the delivery of rockets and support equipment from foreign spaceports, with the second airborne launcher expected to be operational by 2023. This strategic move aims to double Virgin Orbit's fleet capacity, ensuring greater mission flexibility and expanding its global service reach in the low Earth orbit market.
L3Harris Technologies (NYSE:LHX) has announced the election of Joanna L. Geraghty to its Board of Directors, expanding the board to 14 members. Geraghty is currently the President and COO of JetBlue Airways, bringing extensive experience in operations and technology. Her leadership has been pivotal in JetBlue's growth into an international airline. L3Harris aims to leverage her expertise to enhance its international market presence and address critical customer missions, as the company positions itself to meet the growing demand for innovative aerospace and defense solutions.
L3Harris Technologies (NYSE:LHX) announced its first quarter fiscal year 2022 results in an investor letter. The company reported annual revenues exceeding $17 billion and employed 47,000 personnel worldwide, serving customers across over 100 countries. A teleconference is scheduled for April 29, 2022, at 8:30 a.m. ET to discuss the results, with recordings available post-call.