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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.
L3Harris Technologies (NYSE:LHX) has secured a contract with Lockheed Martin (NYSE:LMT) to develop a new advanced electronic warfare system for the F-16 multirole fighter aircraft. This system, named Viper Shield™, offers enhanced protection against evolving radar and electronic threats. Integrated into the aircraft fuselage, it enables greater operational flexibility and seamless compatibility with the F-16's weapon systems. L3Harris boasts over 60 years of experience in delivering effective electronic warfare solutions.
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L3Harris Technologies has been awarded a contract by the U.S. Defense Advanced Research Projects Agency (DARPA) for the design of an autonomous surface ship under the No Manning Required Ship (NOMARS) program. This initiative aims to demonstrate the feasibility and reliability of unmanned vessels for extended missions. The design will streamline construction, logistics, and maintenance, and features advanced systems capable of independent decision-making. L3Harris has a strong track record in unmanned vehicles, delivering over 125 systems globally.
CAE has announced a definitive agreement to acquire L3Harris’ Military Training business for US$1.05 billion, aiming to enhance its military training capabilities in the US. The acquisition, expected to close in the second half of 2021, is projected to bring low-teens percentage EPS accretion in the first full year, along with annual cost synergies between C$35 million and C$45 million. This strategic move will expand CAE's offerings across air, land, sea, space, and cyber domains.
L3Harris Technologies (NYSE:LHX) has entered into definitive agreements to divest its Military Training and Combat Propulsion Systems businesses for a total of $1.45 billion. CAE will acquire the Military Training business for $1.05 billion, generating approximately $500 million in annual revenue, while RENK AG will purchase the Combat Propulsion Systems for about $400 million, with annual revenue of around $230 million. The divestiture aligns with L3Harris's strategy to focus on core technologies and is expected to enhance shareholder value through anticipated share repurchases.
The Board of Directors of L3Harris Technologies (NYSE:LHX) has announced a quarterly cash dividend of $1.02 per share. This dividend will be payable on March 26, 2021, to shareholders on record as of March 12, 2021. L3Harris, a leading global aerospace and defense technology innovator, reported approximately $18 billion in annual revenue and employs around 48,000 people globally, serving customers in over 100 countries.
L3Harris Technologies (NYSE:LHX) has secured an $89 million contract for option-year two of the U.S. Space Force and U.S. Space Command's Maintenance Of Space Situational Awareness Integrated Capabilities (MOSSAIC) program. This initiative aims to enhance infrastructure for tracking objects in space, contributing to a total estimated contract value of $1.2 billion over ten years. The program is essential for providing timely and accurate space domain awareness data critical for military operations.
L3Harris Technologies (NYSE:LHX) has secured contracts worth $137 million for four navigation payload Mission Data Units (MDU) to be used in future GPS III Follow-on (GPS IIIF) satellites. The MDUs will enhance GPS capabilities and are part of an ongoing collaboration with Lockheed Martin, the prime contractor for GPS III/IIIF. The first GPS IIIF satellite is expected to launch in 2026, building on the capabilities of previous GPS III satellites. L3Harris continues to be a key provider of navigation technology for all U.S. GPS satellites.
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L3Harris Technologies (NYSE: LHX) unveiled the RF-7850D radio at the IDEX 2021 in Abu Dhabi, recognizing it as the smallest multi-channel, multi-mission radio. This innovative device offers users the option of two 30-512 MHz channels or an additional channel for coverage up to 2500 MHz. It leverages TDMA Networking Waveform for simultaneous voice and data services, and ensures interoperability with legacy systems. The RF-7850D is designed for tactical applications, enhancing battlefield communication across different operational tiers.