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Aerospace

L3Harris Technologies, Inc.

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L3Harris Technologies, Inc. - Aerospace showcase

Year Founded & Workforce

2018-12-31

17,500 Employees

Industry

Aerospace

Services

L

L3Harris Technologies, Inc. Overview

Company Headquarters: Melbourne, Florida, US

Founded: 2019

Workforce: ~17,500

Company Working: L3Harris Technologies, Inc. (L3Harris Technologies) was formed by a merger between L3 Technologies, Inc. and Harris Corporation. It provides technology-based solutions to solve government and commercial customers’ mission-critical challenges in the US and internationally. The company operates through three business segments, namely, communication systems, electronic systems, and space and intelligence systems. It designs, develops, and manufactures radio communications products and systems, vision-enhancing products; wireless communications systems; and Internet protocol-based voice and data communications systems. In addition, it provides electronic warfare, avionics, command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) solutions for defense and classified customers; air traffic management systems; and mission-critical communication systems for civil and military aviation and other customers. Additionally, it also develops various types of sonar systems such as variable depth sonar, dipping sonar system, and towed array sonar systems. Further, it offers intelligence, space protection, geospatial, positioning, navigation and timing, exploration, earth observation, and environmental solutions using advanced sensors, antennas, and payloads for national security, defense, civil and commercial customers.

Strategy

L3Harris Technologies, Inc. is a global aerospace and defense company that provides advanced technology solutions to government and commercial customers. The company was formed in 2019 following the merger of Harris Corporation and L3 Technologies. With a history that spans over 100 years, L3Harris Technologies has a proven track record of delivering cutting-edge technologies to its customers. The company's portfolio includes a wide range of products and solutions across various sectors, including aviation, defense, space, and public safety. L3Harris Technologies' products and solutions are designed to enhance situational awareness, improve communication, and ensure the safety and security of people and assets. L3Harris Technologies has a strong focus on innovation, investing heavily in research and development to create new products and solutions that meet the evolving needs of its customers. The company is also committed to operational excellence, fostering a culture of collaboration and continuous improvement to drive efficiencies and productivity. Headquartered in Florida, USA, L3Harris Technologies has a global presence with operations in more than 30 countries. The company employs over 48,000 people worldwide and is dedicated to delivering high-quality technology solutions that make a difference in the world.

Company Snapshot

$17,542M

Revenue

17,500

Employees

2018-12-31

Founded

Melbourne, Florida, US

Headquarters

SWOT Analysis

Strengths

  • Highly successful at go-to market strategies for its products
  • Reliable suppliers
  • Automation of production processes
  • Strong global presence
  • Diversified product offerings
  • Large product offering in the training segment
  • Highly successful at Go To Market strategies for its products
  • Extensive business segment
  • Global presence
  • Extensive business segments
  • Increasing R&D investments (The company’s R&D investment increased from USD 311 million in 2018 to USD 331 million in 2019)
  • Diversified product offering
  • Wide distribution network in key regions
  • Advanced manufacturing facilities
  • Focus on R&D helps improve the existing product line
  • Focus on product diversification
  • Extensive distribution network
  • Skilled workforce
  • Global presence and reach
  • Increasing contributions from global markets
  • Solid track record of financial performance
  • Strong Presence in Defense and Aerospace Industries
  • Wide Range of Advanced Technologies and Solutions
  • Vast global presence
  • Strong presence in government and commercial markets
  • Operational Performance

Weaknesses

  • Low investment in R&D as compared to the fastest growing players
  • High dependence on the US market
  • High dependence on US market
  • Dependence on the US market for revenue
  • Absence military contracts
  • Limited presence in developing nations
  • Dependence on the domestic market for revenue
  • Fluctuating financial performance
  • High dependence on US government customer for a significant portion of the revenue
  • Dependence on Government Contracts and Defense Spending
  • Limited Brand Awareness in Some Markets
  • Dependence on the US government customers

Opportunities

  • New trends in the consumer buying behavior
  • Stable free cash flow provides opportunities to invest in new product segments
  • Growth of the defense and aerospace industry, especially in India and China
  • Increasing demand for military aircraft simulator in Asia-Pacific
  • New trends in the consumer buying behavior can open up new market
  • Growth in the defence and aerospace sector, especially in India and China
  • Increasing demand for military simulation
  • Growing defence and aerospace industry, especially in India and China
  • Increasing demand for drones
  • Surge in defense spending in emerging economies
  • Growing construction industry especially in India
  • Strategic collaboration with key players
  • R&D growth to fuel new products
  • Growing international presence
  • Growth in Cybersecurity and Intelligence Solutions
  • Increasing Demand for Unmanned Aerial Systems and Autonomous Technologies
  • Growing defense & aerospace industry, especially in India and China
  • Positive outlook for the global electronic warfare market
  • Positive outlook for the Global military satellite market

Threats

  • New technologies developed by competitors
  • Development of new technology by the competitors
  • Fluctuations in government policies
  • Stringent government regulations for the manufacturing of counter UAS systems
  • Stringent government regulations for the manufacturing of transponders
  • Competition from other prominent players
  • Stringent government regulations
  • Slow certification process
  • Increased prices for raw materials
  • Threat of security breach
  • Fluctuations in Government Spending on Defense and Aerospace
  • Intense Competition from Other Players in the Defense Industry
  • Stringent government regulations for the manufacturing of counter-UAS systems
  • Foreign exchange risks
  • Changing technology

Key Developments

DateApproachDevelopment
September 2018ContractL3Harris Technologies signed a contract with the DoD to provide towed array sonar systems. The contract enabled the company to strengthen its position in the North American sonar systems and technology market.
September 2019ContractL3Harris Technologies signed a contract with Utah Communications Authority to provide an advanced state-wide public safety radio system for multiple agencies and emergency responders in Utah, US.
August 2018Product LaunchL3Harris Technologies introduced its new dual-mode TP3000 series of radios, powered by Tait, that enhances safety and security and offers an affordable migration path from analog to digital to North America.
May 2018Product DevelopmentL3Harris Technologies launched its XL family of LMR radios integrated with self-contained breathing apparatus (SCBA) solutions from 3M Scott Fire and Safety to provide better audio quality to firefighters and other first responders.
March 2018Product LaunchL3Harris Technologies launched its two-channel leader radio designed specifically for the Army at the Association of the US Army’s Global Force Symposium.
June 2019MergerL3 Technologies, Inc. and Harris Corporation merged to form a global aerospace and defense company named L3Harris Technologies, Inc. The merger enabled the company to strengthen its position in the global aerospace and defense market and expand its products offering.
October 2018AgreementL3 Technologies, Inc. and Harris Corporation signed an agreement to combine in an all-stock merger of equals to develop a global aerospace and defense technology company.
May 2021MergerL3 Technologies merged with Harris Corporation to form L3Harris Technologies, Inc. This merger created a larger, more diversified company with a broader range of capabilities in areas such as defence, aerospace, and maritime surveillance.
Feb 2020Product LaunchL3Harris Technologies launched a new airborne surveillance system called the Airborne Reconnaissance Low-Enhanced (ARL-E). This system is designed to provide real-time situational awareness and intelligence gathering capabilities for maritime and other applications.
July 2018Product DevelopmentLeonardo Technologies announced a partnership with Ultra Electronics to develop a new airborne anti-submarine warfare (ASW) system for maritime patrol aircraft. This system will integrate L3's acoustic sensors with Ultra's sonobuoy processing technology to provide advanced ASW capabilities.
January 2023AgreementL3Harris has received USD 40 million countract from the United States department of defesne for supplying 14 multi purpose weapon system to Ukraine which will allow the ground support forces to shoot down Russian drones.
June 2019MergerL3 Technologies, Inc. and Harris Corporation merged to form a global defense company named L3Harris Technologies, Inc.
March 2023AgreementL3Harris Technologies made an agreement with Israel Aerospace Industries' ELTA Systems Group (IAI/ELTA) and Korean Air Lines to deliver the next generation of survivable, high-altitude airborne early warning and control aircraft to the Republic of Korea's Air Force.
December 2022ContractL3Harris Technologies Inc. was awarded a contract to provide shipboard sensors for the fire-control necessary for U.S. Navy and Coast Guard warships to hit enemy ships and aircraft with naval gun fire under terms of a $13.7 million order. Officials of the Naval Sea Systems Command in Washington have directed the L3Harris KEO segment in Northampton, Mass., to produce additional MK 20 electro-optical sensor systems (EOSS), radar cross sections kits, shock ring kits, and spare parts for the Navy and Coast Guard.
June 2020ContractL3Harris Technologies Inc. was awarded a contract to upgrade legacy air-search radar systems for U.S. Navy aircraft carriers and amphibious assault ships under terms of a $7.2 million order. Officials of the Naval Sea Systems Command in Washington have directed the L3Harris Technologies Integrated Mission Systems segment to produce AN/SPS-48G(V)1 radar data processor and radar display and control function software, firmware updates for the I/Q processor and synchronizer, and other hardware changes.

Product Offering

  • L3Harris Technologies, Inc.
    • Airborne Systems
    • Seaborne Systems
    • Flight Simulator
    • Land Mobile Radio
    • Military Simulation and Training
    • UGS
    • Counter UAS
    • Airport Surveillance Radar
    • Transponders
    • Image Intensifier Tubes
    • CubeSat
    • Global Mid-Wave Infrared (MWIR) Sensors Market
    • Global Maritime Airborne Sensor Market
    • Global Counter UAS Market
    • Radar

Financial Performance

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About the Author

Wantstats Research Team

Wantstats' research desk profiles L3Harris Technologies, Inc. as part of our ongoing coverage of the Aerospace sector, drawing on public company data, filings, and market intelligence.

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Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu

Strategy & Business Development Director, Dogan Holding

We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Noah Malgeri
Noah Malgeri

Co-Founder, Mojave Rail Fabrication Limited

This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Michael Robert

Manager, JavolVision

Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Joseph Aguayo

Sales Operations & Pricing Manager, Intel

Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau

Sales Leader, Bamberg

We bought your "2025 report" in 2020. Everything is fine and very good.
Peter Groot Koerkamp
Peter Groot Koerkamp

Account and Business Manager, EFS-Holland BV

Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Younghwan Choi

Senior Retail Manager, LG Chem

We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin

Management Consultant, Level 21

I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker

Group Product Manager HVAC & Fire Protection GMA, Rockwool

I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee

R&D Director, Seojin

Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu

Strategy & Business Development Director, Dogan Holding

We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.

L3Harris Technologies, Inc.

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