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Space Development Agency Approves L3Harris’ Missile-Tracking Satellite Design
Rhea-AI Impact
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Rhea-AI Summary
L3Harris Technologies (NYSE:LHX) successfully completed the final design review for the Space Development Agency's missile-tracking program, continuing development on four satellites under a $193 million contract. The company's rapid development pace aims to address emerging threats effectively. Investments in end-to-end satellite solutions are emphasized, alongside efforts to develop a prototype for the Missile Defense Agency's Hypersonic and Ballistic Tracking Space Sensor. The contract runs through 2025, showcasing L3Harris' commitment to advanced aerospace and defense technologies.
Positive
Successful completion of final design review for Space Development Agency's program.
Development proceeding under a $193 million contract.
Investment in end-to-end satellite solutions demonstrates commitment to innovation.
Negative
None.
Highlights:
Design review affirms L3Harris satellite build plans and technology
Sustains rapid development pace to address accelerating threat environment
Highlights L3Harris’ investment in end-to-end satellite solutions
MELBOURNE, Fla.--(BUSINESS WIRE)--
L3Harris Technologies (NYSE:LHX) successfully completed the final design review for the Space Development Agency’s missile-tracking program. The company will continue with development and integration of four satellites for Tracking Layer Tranche 0 under a $193 million firm, fixed-price contract.
L3Harris completed Critical Design Review in November, and the company will proceed through build, integration, test, and acceptance on the way to the launch phase in early 2023.
“Rapid deployment programs, such as this one, demonstrate early missile warning and tracking missions can be efficient, affordable, and developed at a pace that keeps up with emerging threats,” said Ed Zoiss, President, L3Harris Space & Airborne Systems. “L3Harris purchased subsystems and other material and began building while completing the design to demonstrate speed to deployment.”
L3Harris has prioritized investments in end-to-end satellite solutions in spacecraft, payloads, ground software and advanced algorithms. L3Harris is also developing a prototype for the Missile Defense Agency’s Hypersonic and Ballistic Tracking Space Sensor.
L3Harris first received the Tracking Layer Tranche 0 award in 2020 and the contract runs through 2025.
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 space, air, land, sea and cyber domains. L3Harris has approximately $18 billion in annual revenue and 47,000 employees, with customers in 130 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.
What is the significance of the final design review completed by L3Harris (LHX)?
The final design review signifies that L3Harris can proceed with the development of four satellites for the missile-tracking program under a $193 million contract.
How much is the contract for the missile-tracking satellites worth?
The contract for the development of the missile-tracking satellites is worth $193 million.
What are L3Harris' plans for missile defense technologies?
L3Harris is developing a prototype for the Missile Defense Agency's Hypersonic and Ballistic Tracking Space Sensor as part of its investment in missile defense technologies.
When does the contract for the missile-tracking program run through?
The contract for the missile-tracking program runs through 2025.
