LHX - L3Harris wins $205 million Navy contract for fleet protection imaging

L3Harris (NYSE:LHX) has won a U.S. Navy contract initially worth $205 million to provide an optical and imaging system to offer improved fleet protection. The company has been selected to provide the Shipboard Panoramic Electro-Optic/Infrared system, or SPEIR. The contract has a potential value of $593 million, if all options are exercised through March 2031. It's working on a team that includes Lockheed Martin (LMT) and BAE Systems (OTCPK:BAESY), contributing a project with a scalable 360-degree electro-optic and infrared passive automatic detection and tracking solution - what it calls a "generational leap forward" in elevating the sensors "from a dedicated weapons support sensor to a full passive mission solution capability."

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L3Harris wins $205 million Navy contract for fleet protection imaging