US Navy Awards L3Harris Technologies $393 Million Undersea Training Range Contract

Rhea-AI Summary

L3Harris Technologies (NYSE:LHX) has received a $393 million contract from the U.S. Navy to implement Increments II and III of the Undersea Warfare Training Range (USWTR). This contract follows nearly a decade of work on Increment I, which involved the installation of systems in a 500-square-nautical-mile area near Jacksonville, Florida. The new increments will enhance sites in Hawaii, the Bahamas, and Southern California, enabling naval forces to improve anti-submarine warfare training through advanced undersea technologies.

Positive

• Award of a $393 million contract enhances L3Harris's portfolio.
• Completion of Increment I two years early demonstrates operational efficiency.
• Upgrades will improve anti-submarine warfare training capabilities for the Navy.

Negative

• None.

The U.S. Navy has awarded L3Harris Technologies (NYSE:LHX) a $393 million contract to install increments II and III of the Undersea Warfare Training Range (USWTR).

The award follows nearly 10 years of execution by L3Harris on Increment I and will replace and upgrade the remaining underwater training range sites.

USWTR Increment I included installing the ocean sensor and shore electronics subsystems instrumenting the approximately 500-square-nautical-mile area near Jacksonville, Florida. Under Increments II and III, L3Harris will upgrade and replace the previously installed systems at the U.S. Navy’s three other range locations near Hawaii, Bahamas and Southern California.

The USWTRs enable ships, submarines and aircraft to track targets on the surface and subsurface for anti-submarine warfare training. The ranges each include more than 600 miles of undersea cables, several hundred sophisticated acoustic sensors, as well as shore-based control, display and processing facilities.

“I’m proud of our team for delivering Increment I two years early so we could accelerate this award to support the sailors and provide them with early access to the best undersea range technology available to maintain operational readiness,” said Christopher E. Kubasik, Chief Executive Officer, L3Harris. “For six decades in partnership with both our U.S. and international Navy customers, L3Harris has successfully developed, manufactured, installed and supported undersea training range technology. Our capabilities ensure that sailors train in an environment that is as close to their mission environment as possible, giving them a competitive advantage.”

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 47,000 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 technology capabilities or delivering early or achieving initial operational capability ahead of schedule 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.

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FAQ

What is the value of the contract awarded to L3Harris by the U.S. Navy?

L3Harris was awarded a $393 million contract to implement Increments II and III of the Undersea Warfare Training Range.

What is the purpose of the Undersea Warfare Training Range?

The Undersea Warfare Training Range is designed to enable ships, submarines, and aircraft to track targets for anti-submarine warfare training.

How long did L3Harris take to complete Increment I?

L3Harris completed Increment I of the Undersea Warfare Training Range two years early.

Which locations will be upgraded under Increments II and III?

Increments II and III will upgrade sites near Hawaii, the Bahamas, and Southern California.

What technology will L3Harris provide under the new USWTR contract?

L3Harris will provide advanced undersea technologies that include over 600 miles of undersea cables and sophisticated acoustic sensors.