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US Navy Awards L3Harris $205 Million Contract for New Passive EO/IR Capability to Protect Fleet

08/06/2022

MELBOURNE, Fla. - A team led by L3Harris Technologies (NYSE:LHX) has been selected to provide the Shipboard Panoramic Electro-Optic/Infrared (SPEIR) system to the U.S. Navy that will provide improved fleet protection. The initial $205 million contract has a potential value of $593 million if all options are exercised through March 2031.

The SPEIR program represents a generational leap forward in the use of 360-degree electro-optic and infrared (EO/IR) imagery and situational awareness, elevating EO/IR sensors - the eyes of the fleet - from a dedicated weapons support sensor to a full passive mission solution capability.

L3Harris will serve as systems integrator and prime contractor, delivering capabilities for mission areas including anti-ship cruise missile defense, counter-unmanned aerial systems, counter-fast attack craft/fast in-shore attack craft, mobility, anti-terrorism/force protection and operational tasking visual information. This new system is targeted for installation on destroyers, carriers, frigates, amphibious and landing helicopter assault ships to provide a critical warfighting capability.

The team includes Lockheed Martin and BAE Systems and will provide an L3Harris solution known as SPATIAL that provides a scalable 360-degree EO/IR passive automatic detection and tracking solution, enhancing combat systems and navigation capabilities to the U.S. Navy.

The program was awarded by the Program Executive Office Integrated Warfare Systems (PEO IWS) 2.0.

The SPEIR program leverages the technologies demonstrated as part of the Office of Naval Research's Future Naval Capability effort known as CESARS (Combined EO/IR Surveillance and Response System) and a strong heritage of maritime Electro-Optical Sensor Systems combined with L3Harris internal investment to provide a SPEIR capability to the fleet faster, with less risk and cost than other solutions, said Sean Stackley, President, Integrated Mission Systems, L3Harris. Passive persistent surveillance capability is a significant step forward in protecting the surface fleet, safe navigation and force protection by enabling operations in an emissions-controlled environment.

BAE Systems employs image processing development from CESARS that provides a fully automated image processing detection capability that reduces operator workload.

BAE Systems is leveraging our expertise in machine learning and automation capabilities to maritime defense systems, said Frank Crispino, Director of Active Protection Solutions for BAE Systems.

Lockheed Martin brings combat system interface experience to ease integration into existing ship systems.

The SPEIR program builds on Lockheed Martin's legacy of proven integrated combat system and electro-optical sensor solutions for PEO IWS, said Rick Cordaro, Vice President, Lockheed Martin Advanced Product Solutions.

About L3Harris Technologies

L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers' mission-critical needs. The company provides advanced defense and commercial technologies across space, air, land, sea and cyber domains. L3Harris has more than $17 billion in annual revenue and 47,000 employees, with customers in more than 100 countries. L3Harris.com.

Forward-Looking Statements

This press release contains forward-looking statements that reflect managements current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about the value or expected value of orders, contracts or programs or about system or technology capabilities are forward-looking and involve risks and uncertainties. L3Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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LINK: https://www.l3harris.com/newsroom/press-release/2022/06/us-navy-awards...
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