• A Honeywell or Raytheon for defense and space, specializing in advanced communication, sensor, and intelligence systems.
• The Cisco of military and government communications, also providing the 'eyes and ears' (advanced sensors and intelligence systems) for defense and space missions.

Here are the major products and services of L3Harris Technologies:

• Intelligence, Surveillance, and Reconnaissance (ISR) Systems: Provides multi-mission systems, sensors, and support services for intelligence gathering and analysis across various platforms.
• Communication Systems: Offers tactical, broadband, and satellite communication equipment, including radios and data link terminals, for military, public safety, and professional use.
• Space Payloads and Sensors: Develops advanced payloads, sensors, and complete mission solutions for space-based applications.
• Electronic Warfare Systems: Delivers systems designed to detect, jam, and counter adversary electronic signals.
• Maritime Mission Systems: Integrates mission systems for naval platforms, encompassing signals intelligence, unmanned solutions, and ship control systems.
• Electro-Optical and Infrared (EO/IR) Solutions: Supplies advanced imaging, sensing, and targeting technologies utilizing electro-optical and infrared spectrums.
• Mission Avionics: Provides integrated electronic systems and software for aircraft to enhance mission performance and capability.
• Cyber Defense Solutions: Offers classified intelligence and robust cyber defense capabilities to protect critical information and infrastructure.
• Night Vision Systems: Manufactures integrated night vision systems for helmet and weapon mounting, enhancing visibility in low-light conditions.
• Defense Aviation Products: Develops and supplies various products specifically for military aircraft applications.
• Commercial Pilot Training: Provides comprehensive training programs for aspiring and current commercial pilots.
• Air Traffic Management Solutions: Offers mission networks and systems for efficient and safe air traffic control and management.

Christopher E. Kubasik, Chair and Chief Executive Officer

Christopher E. Kubasik has over 30 years of experience in the aerospace and defense industry. He joined L3 Technologies in 2015 as President and Chief Operating Officer, and was appointed CEO in January 2018, later becoming Chair in May 2018. Following the merger of L3 Technologies and Harris Corporation in 2019, he served as Vice Chair, President, and Chief Operating Officer of L3Harris Technologies before being named Chief Executive Officer in June 2021 and Chair in June 2022. Prior to L3, he was President and Chief Operating Officer of Lockheed Martin Corporation, where he also held senior executive and finance roles, including Executive Vice President and Chief Financial Officer since 2004. Earlier in his career, Kubasik was President and CEO of Seabury Advisory Group LLC, an aviation and aerospace professional services firm, and a partner at Ernst & Young. He holds a bachelor's degree in accounting from the University of Maryland's Smith School of Business.

Kenneth Bedingfield, Senior Vice President, Chief Financial Officer and President, Missile Solutions (MSL) segment

Kenneth Bedingfield was appointed Chief Financial Officer of L3Harris Technologies, effective March 16, 2026. In his role as CFO, he is responsible for overseeing all internal and external financial reporting, Securities and Exchange Commission and Sarbanes Oxley compliance, financial planning, financial controls, capital structure, accounting, audit, financial services, tax, treasury, investor relations, contracts, and corporate development. He also serves as the President of the Missile Solutions segment.

Samir Mehta, President, Space & Mission Systems (SMS) and Communications & Spectrum Dominance (CSD) segments

Samir Mehta was appointed President overseeing both the Space & Mission Systems and Communications & Spectrum Dominance segments, effective March 12, 2026. He brings 25 years of leadership experience within the aerospace and defense industry. Prior to this role, he led L3Harris' Communication Systems segment and, earlier in 2026, assumed responsibility for the Space & Mission Systems segment. As President of these segments, he is responsible for business strategy, financial performance, successful execution, and growth, leading approximately 34,000 employees.

Christoph T. Feddersen, Senior Vice President, General Counsel & Secretary

Christoph T. Feddersen is responsible for the company's legal, internal audit, environmental health & safety, and enterprise security organizations. He joined L3Harris in 2024 as Vice President and General Counsel for Space and Airborne Systems, bringing more than 25 years of legal practice experience from in-house roles and international law firms in the United States and Europe. Before joining L3Harris, Feddersen spent 17 years in various positions at RTX Corporation.

The key risks to L3Harris Technologies (LHX) are primarily associated with its significant reliance on government spending, the volatile global geopolitical and economic landscape, and the intense competition within the aerospace and defense sector.

1. Dependence on U.S. Government Contracts and Spending Priorities: A substantial portion of L3Harris Technologies' revenue, approximately 75%, is derived from U.S. Government customers. This makes the company highly vulnerable to shifts in government spending, budget cuts, procurement reform initiatives, and funding uncertainties. Any prolonged uncertainty from the appropriations process, continuing resolutions, or government shutdowns could lead to funding reductions, contract modifications or terminations, and difficulties in forecasting revenue and resource requirements, thereby materially pressuring the company's business and financial performance.
2. Geopolitical Instability, Economic Conditions, and International Market Volatility: L3Harris Technologies operates internationally, making its business susceptible to geopolitical events and economic uncertainties. Instability in key markets can disrupt sales and supply chains, while economic downturns can lead to reduced demand for defense products. Furthermore, international operations expose the company to regulatory changes, currency fluctuations, and potential trade policy changes, which are largely beyond its control and could have material adverse effects on its operations and profitability.
3. Highly Competitive Markets and Technological Advances: The company operates in highly competitive markets that are sensitive to technological advances. L3Harris Technologies faces competition from both larger defense contractors and non-traditional players, some of whom may possess greater resources for research and development. To maintain its competitive edge, the company must continuously invest significantly in research and development to innovate and offer advanced solutions, ensuring it remains at the forefront of technological capabilities in the defense sector.

The emergence of commercial space technologies and services, particularly exemplified by proliferated low-earth orbit (LEO) satellite constellations like SpaceX's Starlink, presents a clear emerging threat. L3Harris Technologies' Communication Systems segment provides traditional satellite communication (SATCOM) systems and terminals, and its Space and Airborne Systems segment offers space payloads and full-mission solutions. Commercial LEO constellations offer a disruptive model with significantly lower costs, higher bandwidth, lower latency, and rapid deployment compared to traditional bespoke military and government SATCOM solutions. This agile, commercially-driven approach directly competes with and could potentially displace parts of L3Harris's offerings in military and government satellite communications and related space services.

L3Harris Technologies (symbol: LHX) operates within several significant addressable markets for its diverse range of products and services.

Integrated Mission Systems Segment:

• Intelligence, Surveillance, and Reconnaissance (ISR) Systems: The global intelligence, surveillance, and reconnaissance (ISR) market was valued at approximately USD 42 billion in 2024 and is expected to reach around USD 71.2 billion by 2034, growing at a CAGR of 5.6% during the forecast period. Another estimate projects the market to grow from USD 44.4 billion in 2025 to USD 76.5 billion by 2035. North America dominated this market in 2023, accounting for over 35% of the share.
• Advanced Electro-Optical and Infrared Solutions (related to Night Vision): The global military night vision device market is projected to grow from USD 5.68 billion in 2025 to USD 9.88 billion by 2031, at a 9.67% CAGR. Another report estimates the broader global night vision devices market at USD 11.37 billion in 2024, projected to reach USD 17.72 billion by 2033. North America held 39.7% of the market share in 2024. L3Harris Technologies is a key player in this market and received a significant order for Enhanced Night Vision Goggle – Binocular (ENVG-B) systems from the U.S. Army.
• Maritime Autonomous Solutions: The global Maritime Autonomous Systems market was valued at USD 5.7 billion in 2025 and is projected to reach USD 22.8 billion by 2033, growing at a Compound Annual Growth Rate (CAGR) of 23.4%. Another source indicates the market size at USD 6.04 billion in 2023, projected to reach USD 13.41 billion by 2030. L3Harris Technologies holds an estimated 40% of the global market share alongside Thales and Kongsberg Maritime.

Space and Airborne Systems Segment:

• Space Payloads, Sensors, and Full-Mission Solutions (Space Militarization/Defense): The global space militarization market size was valued at USD 61.92 billion in 2025 and is projected to grow to USD 116.1 billion by 2034, exhibiting a CAGR of 7.19%. North America dominated this market with a market share of 40.15% in 2025.
• Electronic Warfare Systems: The global electronic warfare market size was valued at USD 22.66 billion in 2025 and is expected to reach USD 31.28 billion by 2033, at a CAGR of 4.11%. Other estimates include a market size of USD 26.08 billion in 2025, predicted to increase to approximately USD 43.13 billion by 2035. North America dominated the electronic warfare market with the largest revenue share of 36.75% in 2025.
• Mission Avionics (Military Avionics): The global next-gen military avionics market size was valued at USD 36.4 billion in 2024 and is estimated to grow to USD 57.6 billion by 2034. Another report states the global military aircraft avionics market size was valued at approximately USD 38.5 billion in 2024 and is projected to reach around USD 57.2 billion by 2030. North America is the largest market for military aircraft avionics.

Communication Systems Segment:

• Tactical Communications (Military Communications): The global military communications market was valued at USD 38.85 billion in 2024 and is expected to grow to USD 54.35 billion by 2033. Another source indicates a market size of USD 42.10 billion in 2025, projected to grow to USD 70.20 billion by 2034. North America is the most significant global military communications market shareholder.
• Public Safety and Professional Communications: The global public safety communications market size is estimated to reach USD 72 billion by 2031. The public safety wireless communication solution market stood at USD 3.62 billion in 2026 and is projected to reach USD 6.66 billion by 2035. North America has emerged as the most dominant region in the global public safety wireless communication solution market.

Aviation Systems Segment:

• Air Traffic Management (ATM) Solutions: The global air traffic management market size was estimated at USD 9.4 billion in 2023 and is projected to reach approximately USD 15.2 billion by 2032. Another report indicates the global air traffic management market size was valued at USD 15.35 billion in 2025 and is projected to grow to USD 20.5 billion by 2034. North America remains a key market for air-traffic management.

L3Harris Technologies (LHX) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:

1. Robust Demand in Missile Solutions: L3Harris anticipates significant growth in its Missile Solutions segment, which includes the fully integrated Aerojet Rocketdyne business. This segment is projected to generate approximately $4.4 billion in revenue in 2026, a notable increase from $3.8 billion in 2025, as production ramps up across more than 30 missile programs. The company is also pursuing a strategic partnership with the Department of War (DoW) involving a $1 billion investment to substantially increase solid rocket motor production capacity, with a planned initial public offering (IPO) of the Missile Solutions business in the second half of 2026.

2. Expansion in Space and Airborne Systems: Growth in the Space and Airborne Systems segment is driven by strategic investments in new space architectures, hypersonic detection capabilities, and key programs like the F-35 upgrades. The company is also heavily involved in the Golden Dome initiative for missile warning and tracking, leveraging existing investments and preparing to deploy a constellation of satellites critical for detecting hypersonic threats.

3. Advancements in Resilient Communication and Autonomous Systems: L3Harris is developing and deploying advanced technologies, including resilient communication equipment and innovative autonomous solutions. There is increased demand for software-defined resilient communications, particularly for international deliveries. The company has also introduced its "Red Wolf" and "Green Wolf" launched effects vehicles, which are multi-role autonomous platforms for kinetic strikes and electronic warfare, along with AMORPHOUS™ software designed to control thousands of autonomous assets simultaneously, addressing critical national security needs.

4. International Market Penetration: The company is actively expanding its global reach, focusing on high-growth areas and strategic acquisitions in emerging markets. L3Harris is capitalizing on increased defense spending, particularly in Europe and the Indo-Pacific regions, for its communication systems and electro-optic infrared capabilities, driven by evolving geopolitical dynamics and active European rearmament.

Share Repurchases

• L3Harris Technologies' board approved an additional $3.0 billion share repurchase authorization in October 2022, bringing the total current authorization to approximately $4.5 billion.
• In fiscal year 2025, the company repurchased 5.1 million shares of its common stock for $1.2 billion.
• Annual share repurchases amounted to $554 million in 2025 and $518 million in 2023.

Share Issuance

• No significant share issuances were identified over the last 3-5 years. The number of shares outstanding has generally decreased due to ongoing share repurchase programs.

Inbound Investments

• In January 2026, L3Harris Technologies secured a $1 billion investment from the Department of War (now Department of Defense) in connection with its plans to separate its solid rocket motor missile solutions unit. This investment will convert into common equity when the unit goes public.

Outbound Investments

• In July 2023, L3Harris Technologies completed the acquisition of Aerojet Rocketdyne for $4.7 billion in cash, expanding its capabilities in missile and space propulsion.
• The company acquired Viasat's tactical data link product line for $1.96 billion, with the transaction announced in October 2022 and expected to close in the first half of 2023.

Capital Expenditures

• L3Harris Technologies' capital expenditures averaged $375 million for fiscal years ending December 2021 to 2026.
• Capital expenditures for fiscal 2025 were $424 million, and are anticipated to be approximately $600 million for fiscal 2026.
• The company plans $3 billion in capital expenditures for Missile Solutions capacity expansion and is investing over $1.25 billion in its manufacturing footprint, including new facilities to boost solid rocket motor production.