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L3Harris' CEO says it is poised to secure additional bizjet-based special mission aircraft after South Korea selected its product last year.
L3Harris Technologies has secured a sole-source classified space program that CEO Chris Kubasik said could become a multi-billion-dollar business, while also signaling more business-jet special mission deals were in the works.
The baseline value of the classified space contract is around $600 million, Kubasik said on the company’s first-quarter earnings call. The company landed the deal thanks to its past performance, he said, calling it a “game-changer” system.
The company also is bidding on other classified space programs, targeting opportunities for systems for use in medium Earth orbit and geostationary orbit. About 28% of the company’s overall business is in classified activities, which are growing, Kubasik said.
L3Harris has other space-related campaigns in progress and awaits a decision mid-year on the Hypersonic and Ballistic Tracking Space Sensor follow-on program.
Kubasik also said L3Harris was poised to secure additional business jet-based special mission aircraft after South Korea selected its product last year for the system, which pairs Israel’s Elta EL/W-2085 radar with a Bombardier Global 6500 business jet. An unnamed NATO member has now also selected the system in a deal valued at $2.2 billion, with an initial $726 million booked in the first quarter, Kubasik said.
“We have the momentum,” he said, noting “there are other international opportunities.” The pipeline of international business is worth around $40 billion, he indicated.
L3Harris has 20 missionized business jets in production, Kubasik said, with the first two MQ-55 Peregrene aircraft handed to the Royal Australian Air Force in the first quarter.
The company also is poised to see growth on the Pentagon EA-37B Compass Call business jet program with the fiscal 2027 budget request suggesting potential fleet growth to 22 aircraft.
L3Harris reported a $40.7 billion backlog at the end of March. The company has another $25 billion in missile-related framework agreements in negotiations as the Pentagon looks to ramp up missile defense interceptors using L3Harris motors. Those deals should close this year.
The company slightly lifted its earnings per share full-year guidance by ten cents, leaving the other measures unchanged.
L3Harris late April 29 also said it had filed paperwork with the U.S. Securities and Exchange Commission for the initial public offering of its Missile Solutions business, which it had previously said it planned to spin off. The Pentagon said it plans to be a $1 billion investor through convertible preferred equity. L3Harris, in the disclosure, said it has not yet set a price for the offering or how many shares it would sell in what is calling Axyv.
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