L3Harris wins $6 billion THAAD propulsion contract from Lockheed Martin

L3Harris Technologies (NYSE: LHX) has received an undefinitized contract from Lockheed Martin valued at more than $6 billion, excluding escalations, over seven years to expand propulsion production for the Terminal High Altitude Area Defense (THAAD) missile defense system, according to a company press release.

The contract follows a framework agreement between L3Harris and the Department of Defense announced earlier in 2026 to quadruple THAAD propulsion production. L3Harris said the award is consistent with the company's previously announced expectations for the program.

As part of the contract, L3Harris plans to construct a new facility to support increased THAAD Solid Rocket Boost Motor manufacturing and expand capacity for THAAD's Liquid Divert and Attitude Control production.

"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 of Missile Solutions at L3Harris.

The award comes alongside a separately announced PAC-3 MSE propulsion contract. L3Harris described THAAD as capable of intercepting threats inside and outside Earth's atmosphere, noting the system has achieved a 100% intercept success rate in flight tests since production began.

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