L3Harris Secures US Navy Submarine Contract Worth Up to $147.5 Million

Key Facts

1L3Harris secured a contract worth an initial $20 million, potentially reaching $147.5 million if all options are exercised.

2The contract covers the production and engineering support of universal modular masts for new construction submarines.

3Work is expected to be completed by April 2031, with primary locations in Italy and Massachusetts.

L3Harris Technologies (LHX) has been awarded a firm-fixed-price contract by the US Navy for the production of universal modular masts. The initial value of the contract is set at $20 million, with the potential to reach a total of $147.5 million if all options are exercised. This agreement covers both production and engineering support for the Navy's new submarine construction programs. Work on the project is scheduled to take place in Italy and Massachusetts, with an expected completion date of April 2031. The contract provides long-term revenue visibility and reinforces the company's strategic position as a key defense contractor. While the total value is modest compared to L3Harris's overall annual revenue, it underscores their critical role in naval defense infrastructure.