US Navy Awards L3Harris Technologies $393 Million Undersea Training Range Contract

MELBOURNE, Fla. - The U.S. Navy has awarded L3Harris Technologies (NYSE:LHX) a $393 million contract to install increments II and III of the Undersea Warfare Training Range (USWTR).

The award follows nearly 10 years of execution by L3Harris on Increment I and will replace and upgrade the remaining underwater training range sites.

USWTR Increment I included installing the ocean sensor and shore electronics subsystems instrumenting the approximately 500-square-nautical-mile area near Jacksonville, Florida. Under Increments II and III, L3Harris will upgrade and replace the previously installed systems at the U.S. Navy's three other range locations near Hawaii, Bahamas and Southern California.

The USWTRs enable ships, submarines and aircraft to track targets on the surface and subsurface for anti-submarine warfare training. The ranges each include more than 600 miles of undersea cables, several hundred sophisticated acoustic sensors, as well as shore-based control, display and processing facilities.

I'm proud of our team for delivering Increment I two years early so we could accelerate this award to support the sailors and provide them with early access to the best undersea range technology available to maintain operational readiness, said Christopher E. Kubasik, Chief Executive Officer, L3Harris. For six decades in partnership with both our U.S. and international Navy customers, L3Harris has successfully developed, manufactured, installed and supported undersea training range technology. Our capabilities ensure that sailors train in an environment that is as close to their mission environment as possible, giving them a competitive advantage.

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 air, land, sea, space and cyber domains. L3Harris has approximately $18 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 technology capabilities or delivering early or achieving initial operational capability ahead of schedule 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/2021/08/us-navy-awards...
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