L3Harris Contracts Intuitive Machines for Fleet of Spacecraft

L3Harris Technologies, Inc. has selected Intuitive Machines to manufacture a constellation of 18 spacecraft. The agreement will see Intuitive Machines deliver the vehicles, which are intended to support missile defense architectures. Financial terms of the contract were not disclosed in the announcement.

This contract aligns with L3Harris’s operations within its Space & Mission Systems (SMS) segment. The SMS unit focuses on integrating complex systems for government and commercial customers. By procuring these spacecraft from Intuitive Machines, L3Harris aims to enhance its portfolio of space-based solutions used for national security purposes.

Intuitive Machines, a publicly traded company listed on NASDAQ under the ticker LUNR, specializes in space exploration and infrastructure. The order for 18 units represents a significant expansion of the company’s manufacturing backlog in the defense sector.

Shares of L3Harris are currently trading higher. The stock is up 2.33% on the day, with the price at $285.92. The company maintains a market capitalization of approximately $55.25 billion. L3Harris operates three primary segments: Space & Mission Systems, Communications & Spectrum Dominance, and Missile Solutions.

What to watch

• Delivery timelines and milestone dates for the 18-spacecraft fleet.
• Future quarterly earnings reports from both Intuitive Machines and L3Harris for contract revenue recognition.
• Updates regarding the integration of these spacecraft into broader missile defense systems.

Source: original release