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L3Harris Technologies : Increases Indiana Campus Size and Expands Workforce to Support Growing DOD Satellite Work

09/16/2021 | 12:01pm EDT


  • Scaling to deliver future missile defense satellite programs
  • Addresses Department of Defense growing need for resilient satellite networks
  • Expansion builds upon successful weather tracking programs

L3Harris Technologies (NYSE:LHX) has increased the size of its campus and is expanding its workforce in Fort Wayne, Indiana to address the Department of Defense’s growing and urgent need for advanced, resilient satellites.

“Our customers face rapidly evolving threats now, not in years,” said Ed Zoiss, President, Space and Airborne Systems, L3Harris. “We’ve increased our investment and expanded our capacity prior to receiving program awards so we can help them address threats without hesitancy.”

Members of Indiana’s congressional delegation participated in a dedication Sept. 16 for the new building.

“Hoosiers welcome the expansion of L3Harris Technologies facility right here in Fort Wayne. This campus will address the Department of Defense’s urgent need for satellite programs and invest in innovative technology, while also bringing new jobs to the northeast Indiana workforce,” said Sen. Todd Young.

“The expansion of the L3Harris Technologies facility in Fort Wayne is a win for the economy of Northeast Indiana, and an example of Hoosiers working hard with fellow Americans to achieve a common goal of protecting the United States,” said Sen. Mike Braun. "I’m proud this state-of-the-art defense technology will be developed in Indiana, which will help keep us all safe.”

“At its new facility, L3Harris will develop technology to detect hypersonic missiles and defend against adversaries like Russia and China, track weather patterns around the world and boost our economy,” said U.S. Rep. Jim Banks. “This investment is a victory for America and a victory for northeast Indiana.”

The new classified facility provides the space for our missile defense satellite programs. It will support engineering, integration, testing and program management and brings the total size of the L3Harris campus to 150,000 square feet.

“Our expertise in electro-optical/infrared technology and our fresh approach to the problem set garnered the trust of the Space Development Agency and the Missile Defense Agency,” Zoiss said.

The Space Development Agency awarded L3Harris its tracking layer prototype program to develop and integrate an end-to-end satellite system in October 2020. The Missile Defense Agency awarded the company a prototype contract to develop the Hypersonic and Ballistic Tracking Space Sensor in January. L3Harris is also expanding its Palm Bay, Fla., site to increase satellite production capacity.

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 130 countries. L3Harris.com.

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Financials (USD)
Sales 2021 18 456 M - -
Net income 2021 1 925 M - -
Net Debt 2021 5 947 M - -
P/E ratio 2021 24,6x
Yield 2021 1,74%
Capitalization 46 898 M 46 898 M -
EV / Sales 2021 2,86x
EV / Sales 2022 2,74x
Nbr of Employees 48 000
Free-Float 99,5%
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Technical analysis trends L3HARRIS TECHNOLOGIES, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 233,39 $
Average target price 249,88 $
Spread / Average Target 7,06%
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Managers and Directors
Christopher Eugene Kubasik Vice Chairman, President, CEO & COO
Jesus Malave Chief Financial Officer & Senior Vice President
William M. Brown Executive Chairman
Ross Niebergall Chief Technology Officer & Vice President
Jacqueline Nevils Chief Information Officer & Vice President
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