Harris Corporation Awarded $55 Million Follow-on Contract for F-35 Joint Strike Fighter Avionics Infrastructure
MELBOURNE, Fla., Aug. 5 /PRNewswire-FirstCall/ -- Harris Corporation (NYSE: HRS), an international communications and information technology company, has been awarded a three-year, $55 million follow-on production contract from Northrop Grumman (NYSE: NOC) to supply avionics systems for the U.S. Department of Defense F-35 Lightning II fighter aircraft. This Low Rate Initial Production contract brings the total value of the program for Harris to more than $410 million since 2001.
Harris is providing next-generation avionics infrastructure, fiber-optic network solutions, and power supplies that are integral to the advanced capabilities of major subsystems onboard the Lockheed Martin F-35. The infrastructure and electronics are critical to providing more efficient, affordable and higher-capacity avionics capabilities than ever before.
This latest contract covers production of up to 32 additional aircraft. More than 30 aircraft are under contract to date, and plans call for more than 3,000 aircraft over the life of the F-35 program. The F-35 is a highly lethal, survivable weapon system that will serve as a cornerstone of future defense capability for the U.S. and its allied partners. It is designed to replace the A-10, the AV-8 Harrier, the F-16 and the F/A-18.
"This contract represents another significant milestone in the F-35 program, which is replacing the U.S. military's aging fleet of fighter aircraft," said Pat Seamon, vice president, Avionics and Electronics Programs, Harris Government Communications Systems. "A global leader in avionics for military aircraft, Harris continues to provide products that meet the program's technology leadership and affordability objectives."
Harris also provides advanced avionics solutions as a preferred supplier for other major new development aircraft and upgrades such as the U.S. Air Force F-22 Raptor and the U.S. Navy F/A-18E/F Super Hornet.
About Harris Corporation
Harris is an international communications and information technology company serving government and commercial markets in more than 150 countries. Headquartered in Melbourne, Florida, the company has approximately $5 billion of annual revenue and more than 15,000 employees — including nearly 7,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communications® products, systems, and services. Additional information about Harris Corporation is available at www.harris.com.
Forward-Looking Statements
This press release contains forward-looking statements that reflect management's 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 expected value of the program to Harris are forward-looking and involve risks and uncertainties. Other factors that may impact the company's results and forward-looking statement may be disclosed in the company's filings with the SEC. Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
