L3Harris wins $4.7 billion PAC-3 missile propulsion contract

L3Harris Technologies (NYSE: LHX) has received a $4.7 billion, seven-year undefinitized contract from Lockheed Martin to produce propulsion systems for the PAC-3 Missile Segment Enhancement (MSE) interceptor, according to a company press release.

The company describes the award as its largest PAC-3 propulsion contract to date. The contract covers production of the MSE interceptor's two-pulse solid rocket motor, Lethality Enhancer, and Attitude Control Motors.

Ken Bedingfield, President of Missile Solutions at L3Harris, said the contract "allows us to continue expanding PAC-3 propulsion production capacity to enable a wartime footing."

In June, L3Harris broke ground on two new facilities at its Camden, Arkansas, site to support PAC-3 MSE production. Both facilities are expected to be operational in 2027. The company said the new sites will increase onsite production capacity and modernize solid rocket motor manufacturing.

L3Harris said it has been investing broadly in propulsion manufacturing, including construction of approximately 60 new facilities and adding more than one million square feet of manufacturing space across Alabama, Virginia, and Arkansas.

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