STOCK TITAN

Space Development Agency Selects L3Harris Technologies to Develop Defense Satellite System

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

L3Harris Technologies (NYSE:LHX) has secured a $193 million contract from the Space Development Agency to develop an end-to-end satellite system to counter advanced missile threats, including hypersonics. The project will run through 2025, focusing on delivering four space vehicles within 24 months. Key components will include wide field-of-view mission payloads, space communication solutions, and inter-satellite optical links. L3Harris is enhancing its investment in satellite technologies and has a robust background in defense-related projects.

Positive
  • Secured a $193 million contract from the Space Development Agency.
  • Project runs through 2025 with delivery of four space vehicles within 24 months.
  • Investment prioritization in end-to-end satellite solutions.
  • Experience in responsive space missions and advanced payload development.
Negative
  • None.

MELBOURNE, Fla.--()--L3Harris Technologies (NYSE:LHX) will develop and integrate an end-to-end satellite system under a $193 million firm fixed-price contract for the Space Development Agency. L3Harris will support the agency with technology that will protect against advanced missiles, such as hypersonic.

Total period of performance runs through 2025 and covers delivery of four space vehicles for launch within 24 months. L3Harris will develop wide field-of-view mission payloads, various space communication and network solutions, and inter-satellite optical links on the vehicles.

“L3Harris has brought a different perspective to this mission including our experience as a responsive space prime and decades of electro-optical and infrared payload development,” said Ed Zoiss, President, Space and Airborne Systems, L3Harris. “We understand the mission and the need to move quickly, which we’re able to do by drawing capabilities from across the company.”

L3Harris is prioritizing investments in end-to-end satellite solutions in spacecraft, payloads, ground software and advanced algorithms. L3Harris also supports the Missile Defense Agency’s Hypersonic and Ballistic Tracking Space Sensor and the U.S. Space Force’s Overhead Persistent Infrared Satellite Program.

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 or priorities 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.

Contacts

Kristin P. Jones
Space and Airborne Systems
Kristin.P.Jones@L3Harris.com
571-419-4718

Sara Banda
Media Relations
Sara.Banda@L3Harris.com
321-674-4498

FAQ

What is the value of the contract L3Harris secured for the satellite system?

L3Harris secured a $193 million contract for the satellite system.

What is the duration of the satellite system project by L3Harris?

The project duration runs through 2025.

How many space vehicles will L3Harris deliver under the contract?

L3Harris will deliver four space vehicles under the contract.

What advanced threats will the satellite system address?

The satellite system will protect against advanced missile threats, including hypersonic missiles.

What technologies will L3Harris develop for the satellite system?

Technologies include wide field-of-view mission payloads, space communication solutions, and inter-satellite optical links.

L3Harris Technologies, Inc.

NYSE:LHX

LHX Rankings

LHX Latest News

LHX Stock Data

46.83B
188.98M
0.32%
85.91%
0.86%
Aerospace & Defense
Search, Detection, Navagation, Guidance, Aeronautical Sys
Link
United States of America
MELBOURNE