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L3Harris TechnologiesCommunications, electronic warfare, space, intelligence systems. Acquired Aerojet Rocketdyne 2023 for $4.7B. Tactical radios, F-35 EW suite, ISR aircraft, satellite ground systems.
| Year | SRM Production Capacity (units/year, indexed) | Customer Mix + Major Contracts |
|---|---|---|
| FY 2022 (pre-acquisition) | ~100 (baseline; Aerojet standalone) | Lockheed Martin PAC-3 + Raytheon Standard Missile primary customers; smaller tactical programs |
| FY 2023 | ~120 (early ramp) | Cumulative SRM contracts crossed ~$10B+ backlog; Ukraine + Israel-driven replenishment orders |
| FY 2024 | ~160 (acquisition closed Jul 2023; full year L3Harris ownership) | L3Harris-led capacity expansion announcements; Camden AR + Huntsville AL facility investments |
| FY 2025 | ~200 (capacity ramp continuing) | DoD multi-year contracts for PAC-3 + GMLRS + Stinger + Javelin solid rocket motor supply |
| FY 2026 target | ~240 (expansion fully online) | Stated capacity to support Patriot interceptor production rate of 750+/year vs 550 baseline pre-expansion |
| FY 2027 target | ~280+ (next-gen production lines) | Stated long-term target supporting both DoD demand + international FMS demand from Eastern Europe + Israel + Middle East customers |
| Editorial. Why this matters | Strategic context | Aerojet's SRM production is the single biggest US munitions-replenishment constraint identified by the DoD post-Ukraine. L3Harris's ability to scale SRM production directly impacts the broader US ability to refill Patriot + Standard Missile + GMLRS + Stinger stockpiles. The marquee strategic question: do the 2027 production-capacity targets translate to actual operational capability + margin, or do supply-chain bottlenecks (specialty propellant + nozzle materials) constrain the ramp? |
2022-Q1-2026-Q2
2022-Q1-2026-Q2
1994-2026
$LHX
Communications, electronic warfare, space, intelligence systems. $21.3B FY2024 revenue. Acquired Aerojet Rocketdyne 2023 for $4.7B to add solid rocket motor capacity. Provider of tactical radios, F-35 EW suite, ISR aircraft, satellite ground systems. Strong space ISR backlog from SDA Tranche 2/3 awards.
Key Milestones
Harris Automatic Press Co founded in Niles Ohio by Alfred and Charles Harris; pivots from printing presses to RF communications mid-20th century. L3 Communications spins off from Loral 1997.
L3 Technologies and Harris Corporation merger completes Jun 29 2019; creates $17B revenue defense electronics specialist headquartered Melbourne FL.
Wins F-35 Block 4 EW suite upgrade contract from Lockheed Martin; longer-term technology refresh for fleet
Wins SDA Tranche 1 Tracking Layer contract: 14 missile-warning satellites worth $700M
AN/PRC-163/152A handheld tactical radio production ramps; Army Leader Radio program orders accelerate
Acquires Tactical Data Links business from Viasat (TrellisWare) and Aerojet Rocketdyne announcement; portfolio rebuild post L3-Harris merger consolidation.
Acquires Aerojet Rocketdyne for $4.7B closing Jul 28 2023; adds solid rocket motors capacity LMT failed to acquire 18 months earlier
Wins SDA Tranche 2 Tracking Layer contract: 18 missile-warning sats worth $920M; backlog deepens
Tactical radio backlog hits record $5B; foreign demand from Ukraine/Eastern Europe sustains volumes
Aerojet Rocketdyne RS-25 engine production restart for SLS Block 1B; Stinger and Standard Missile-3 motor lines exceed pre-Ukraine output.
Aerojet Rocketdyne ramping Stinger, Standard Missile, GMLRS solid motor output; first capacity expansion since 2010s
VAMPIRE counter-UAS systems (Vehicle-Agnostic Modular Palletized ISR Rocket Equipment) deployed to Ukraine in volume
Wins Resilient GPS (R-GPS) Phase 2 contract from Space Force; smaller satellites complementing GPS III/IIIF for assured PNT.
Backlog hits record $36B; Aerojet motor capacity expansion and SDA Tracking Layer Tranche 3 awards drive growth.
