L3Harris signs deal to quadruple THAAD missile defense production

L3Harris Technologies (NYSE: LHX) has signed a framework agreement with the Department of Defense and Lockheed Martin for a seven-year, multi-year contract to quadruple propulsion production for the Terminal High Altitude Area Defense (THAAD) missile defense system.

L3Harris said the contract will be the largest THAAD propulsion award the company has received to date and is expected to be finalized later this year.

The company produces THAAD's Solid Rocket Boost Motors (SRBMs) and Liquid Divert and Attitude Control Systems (LDACS) for the Missile Defense Agency. SRBMs are manufactured in Huntsville, Alabama, and Camden, Arkansas, while LDACS are produced at the company's Los Angeles facility.

"This framework agreement reaffirms L3Harris' proven capability to quickly deliver critical defense systems at the rate the Department of Defense demands," said Ken Bedingfield, President of Missile Solutions at L3Harris.

According to the press release, L3Harris is currently delivering on or ahead of contract for both LDACS and SRBMs.

The company said it is investing in approximately 60 facilities and adding or upgrading nearly one million square feet of manufacturing and office space across solid rocket motor production sites in Alabama, Virginia, and Arkansas.

THAAD is designed to intercept ballistic missile threats both within and outside the Earth's atmosphere and is used as a defense against short, medium, and intermediate-range missiles.

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