L3Harris Technologies Inc - Company Profile

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L3Harris Technologies Inc: Segment Analysis

Business Description

L3Harris Technologies Inc (L3Harris) is a provider of advanced defense and commercial technology solutions. It is majorly specialized in defense, communications, and information technology. L3Harris serves commercial and government customers in more than 100 countries. The company's products and services have defense and civil government applications, and commercial applications.

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R&D Overview

The R&D arm of L3Harris focuses on developing commercial and government products and services and building technological capabilities in various markets. The company collaborates with government agencies, academic institutions, and industry partners to utilize collective expertise and promote innovation in areas like defense, communications, and information technology. Its R&D initiatives includes various areas, such as Advanced Communications, Intelligence, Surveillance, and Reconnaissance (ISR) Systems, Space Systems, and Cybersecurity. As of December 2023, L3Harris employed 20,000 engineers and scientists in its R&D team. In FY2023, the company incurred expenses of US$480 million on R&D, which as a percentage of revenue, stood at 2.5%.

Business Segments

Overview

Comprised two businesses: Missile Solutions, and Space Propulsion and Power Systems. Under Missile Solutions, it offers propulsion technologies and armament systems for hypersonic, strategic defense, missile defense, and tactical systems. Under Space Propulsion and Power Systems, the company offers premier propulsion and power systems designed for national security, space, and exploration missions. Major customers include the Department of Defense (DoD), the National Aeronautics and Space Administration (NASA), and major aerospace and defense prime contractors.

Performance

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Overview

Consists of four businesses, including broadband communications, tactical communications, public safety, and integrated vision solutions. Provides tactical radios, software-defined radios, broadband secured mobile networked communication equipment, helmet, and weapon-mounted integrated night vision systems, systems applications, and equipment. Also develops airborne, space, and surface data link terminals, ground stations, and transportable tactical satellite communication, and battlefield management networks. Major customers include US Marine Corps, US Army, US Special Operations Command (SOCOM), US defense and intelligence agencies.

Performance

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Overview

Comprises four businesses: Maritime; Intelligence, Surveillance and Reconnaissance (ISR); Electro-Optical; and Commercial Aviation Solutions. Under Maritime, it offers power and communications solutions, undersea sensors and networks, passive sensing and targeting, autonomy, manned and unmanned teaming, and classified capabilities tailored for both manned platforms and unmanned surface and undersea vessels. Under ISR, it specializes in airborne passive sensing and targeting, mission systems development, integration, and life-cycle management. Its expertise extends to strategic reconnaissance, national command and control, tactical surveillance, electronic attack, agile strike, mobility solutions, and classified platforms. Under Electro-Optical, it offers laser imaging and sensor systems, passive sensing and targeting, space communications and avionics, fuzing, navigation, and range-testing solutions. In Commercial Aviation Solutions, the company specializes in integrated aircraft avionics, pilot training, and data analytics services tailored for the commercial aviation industry. Major customers include the Department of Defense (DoD), US Navy, US Army, allied navies, the US Coast Guard, US Air Force, and other military customers.

Performance

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Overview

Provides sensors, space payloads, and full mission solutions. Comprised four businesses: Intel and Cyber, Space Systems, Mission Networks, Mission Avionics, and Advanced Countermeasures Systems (ACS). Under Space Systems, provides comprehensive mission solutions to support intelligence, surveillance, and reconnaissance operations, and services related to position, navigation, and timing. Also offer capabilities for weather and climate monitoring, missile defense, and ground-based space surveillance networks. Under Mission Avionics, provides release systems, hardened electronics, avionic sensors, data links, and antennas supporting fixed-wing and rotary platforms. Under Intel and Cyber, offers intelligence systems, advanced wireless solutions and situational awareness optical networks for classified cyber defense and intelligence customers. Mission Networks delivers communications and networking solutions specifically designed for air traffic management purposes. Under ACS, it offers threat warning and countermeasures designed for use across airborne, ground, and maritime platforms. Also includes ADG, an innovation accelerator and collaboration initiative aimed at swiftly addressing near-peer, national security threats. Major customers include US Space Force, the USAF, the US Intelligence Community, US civil agencies and other national security space customers.

Performance

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Geographical Segments

Performance

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Performance

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