L3Harris Technologies announced on Tuesday that it has received a contract from Lockheed Martin worth more than $6 billion over seven years to expand propulsion production for the Terminal High Altitude Area Defense (THAAD) system.
L3Harris’ press release:
L3Harris Technologies (NYSE: LHX) has received an undefinitized contract from Lockheed Martin, valued at more than $6 billion (excluding escalations) over seven years, to significantly expand propulsion production for the Terminal High Altitude Area Defense (THAAD) system.
This major milestone follows a framework agreement L3Harris and the Department of War announced earlier this year to quadruple THAAD propulsion production. This award, along with the recently released PAC-3 MSE propulsion contract, is consistent with the company’s previously announced expectations for both programs.
“This contract underscores L3Harris’ demonstrated ability to quickly deliver critical defense technologies at the scale and speed required by the Department of War,” said Ken Bedingfield, President, Missile Solutions, L3Harris. “Our planned facility expansions, along with ongoing investments across our propulsion portfolio, will ensure we remain ready to support the nation’s most important missile defense missions and continue to enable a wartime footing.”
The company will construct a new facility to support increased THAAD Solid Rocket Boost Motor manufacturing and is also expanding capacity for THAAD’s Liquid Divert and Attitude Control production.
“L3Harris is proud to partner with Lockheed Martin to significantly scale production of these vital interceptors, providing warfighters with the reliable, proven capabilities they need to defeat a range of threats,” Bedingfield added.
THAAD is one of the nation’s most advanced missile defense systems, capable of intercepting threats inside and outside of Earth’s atmosphere. THAAD has achieved a 100% intercept success rate in flight tests since production began, providing crucial defense against short-, medium- and intermediate-range ballistic missile threats.