L3Harris Technologies
Categories
#447
Rank
$45.61B
Marketcap
United States
Country
Darren Cowley (Director)
David Rickard (Board Member)
Technology
Summary
L3Harris Technologies is a global aerospace and defence technology company that delivers solutions to customers in more than 150 countries. A proven leader in tactical communications, geospatial systems, air traffic management, avionics, and space and intelligence. Headquartered in Melbourne, Florida, the company provides integrated solutions for mission-critical defence, intelligence, and civil and commercial markets. Its products and services include communications, electronic warfare, avionics, space, navigation and surveillance, aircraft modernization, training, and simulation.
With over $18 billion in annual revenue, the company operates in four segments: Communications Systems, Electronic Systems, Space and Intelligence Systems, and Aviation Systems. L3Harris Technologies has the most comprehensive portfolio of solutions in the aerospace and defence industry, enabling customers to achieve mission success.
History
1895: The "Harris Automatic Press Company" was founded by Alfred S. Harris in Niles, Ohio.
1897: The first automatic press, called the E-1, ships to Brooks Printing in November.
1901: Victor Talking Machine was developed in our Camden, NJ location.
1912: The Thaw Telescope was designed and built by our Pittsburgh, PA location.
1914: The photographic program started and to this day has collected some 110,000 exposures on glass plates.
1917: Harris Automatic Press became an early leader in commercial printing press technology and a pioneer in offset lithography, moving to a new factory at 4510 East 71st Street in Cleveland.
1926: Employees: 35,000 Sales: $3 billion stock Index: New York Midwest Pacific Philadelphia Boston
1934: The first pilot trainers are sold to the United States Army Air Corps.
1940: The first Electron Microscope was developed in our Camden, NJ location.
1946: The company's name was shortened to Harris Seybold.
1947: After GEORGE S. DIVELY gained control of the company, Harris-Seybold expanded its position within the growing graphic arts market by adding heavy and light industry subdivisions and strengthening the company's presence in the printing, copy machine, and electronics fields.
1950: One of the earliest of these businesses was Radiation, Inc., established by Homer Denius and George Shaw, both of whom were electronics engineers.
1951: Harris developed a professional-quality, portable printing press for the army to produce on-site multicolour maps, charts, and reconnaissance photos.
1955: Pan American World Airways began recruiting Japanese American women to work as stewardesses on its Tokyo-bound flights and eventually its round-the-world flights as well.
1956: Hartley joined the firm, the same year that Radiation stock was first sold to the public.
1957: After merging with the Intertype Corporation, it changed its name to Harris-Intertype Corporation. Harris acquired Gates Radio, a producer of broadcast transmitters and associated electronics gear, but kept the Gates brand name alive by putting the Gates sticker on the back of numerous transmitters that were labelled Harris on the front panels.
1959: They acquired microwave technology company PRD Electronics, also headquartered in Brooklyn, New York.
1962: Boyd joined Radiation and within a year was made president of the firm.
1967: The two companies merged under the Harris-Intertype name. The company was one of Florida's largest employers (at 3,000 employees) and sales passed $50 million a year.
1969: Harris Corporation acquired RF Communications and Farinon Electric Corporation, furthering its microwave assets.
1970: Electronics provided 50% of the company's $380 million in sales.
1972: Harris-Intertype purchased General Electric’s product line of TV broadcasting cameras, transmitters, studio equipment, and antennas for $5.5 million in cash, adding greatly to its original broadcasting product line.
1974: Two years later, Harris-Intertype acquired Datacraft Corporation and also divested itself of its corrugated paper machinery business.
1976: But things began to change for Harris; over the following three years its stock rose more than 100 percent.
1977: Harris's sales were more than $646 million and earnings were greater than $40 million.
1978: Harris opened a new plant in Melbourne, Florida, that year and moved its headquarters there from Cleveland, after changing its name to the Harris Corporation just four years earlier.
1979: Boyd was appointed chairman and CEO two years later.
1980: Harris made another important purchase, of the Farinon Corporation, a manufacturer of microwave transmitters, electronic switchboards, and other sophisticated telephone products.
1982: The company reorganized its printing equipment sector as the Harris Graphics Corporation and acquired Atlanta-based office systems supplier, Lanier Business Products, the following year.
1987: In June, the company agreed to settle out of court, for $1.3 million, a claim that Harris had overcharged NASA to upgrade the security system for a ground tracking station. In fact, the firm's role in the American electronics industry is so important that the Pentagon stepped in to prevent its acquisition by a foreign company.
1988: Harris acquired GE's semiconductor business, which at this time, also incorporated the Intersil and RCA semiconductor businesses.
1989: Harris had become the largest United States supplier of radio and television broadcasting equipment and dictating equipment and the largest producer of low- and medium-capacity microwave radio equipment. Harris’s 1989 formation of Lanier Worldwide was also paying off.
1991: In January, Harris learned that it had won a $1.7 billion Federal Aviation Administration contract to develop the voice switching and control system of the nation’s air traffic control (ATC) communications systems.
1992: Harris’s push into another nondefense high-tech sector— advanced energy management systems for electric utilities— was strengthened when Harris acquired Westronic Inc. of Canada.
1995: The Harris Corporation employed 27,000 people and had annual sales of approximately $3.5 billion. John Hartley, the CEO of the firm until 1995, joined Radiation after serving on the faculty of Auburn University. In 1995, Phil Farmer, a 13-year veteran with Harris, succeeded Hartley as Harris’s chairman and CEO.
1996: Harris Corporation formed a joint venture with Shenzhen Telecom Company to produce and sell Harris' digital microwave radios and integrate them with other systems.
1998: In November, Harris sold its commercial and standard military logic (semiconductor) product lines to Texas Instruments, which included the HC/HCT, CD4000, AC/ACT and FCT product families.
1999: "Harris Sells Business to Intersil," Wall Street Journal, August 17, 1999. In early that year, Harris put its semiconductor business up for sale in order to focus on its core communications equipment operations.
2000: According to Forbes, it is considered one of the top 2000 largest public companies in the world.
2004: The Orkand Corporation was purchased in a deal that added new customers to Harris's lineup, including the United States Postal Service, and the United States Departments of State, Energy, Health and Human Services.
2005: "Harris to Acquire Leitch Technology," Broadcast Engineering, September 6. "Leitch CEO Says United States Buyer Will Speed Journey to China," Hamilton Spectator, September 2. The company enjoyed record results as revenue increased by 19 percent over the previous year, reaching $3 billion. In 2005, the corporation spent $870 million on research and development.
2010: Harris Corporation developed a Hand Held Computer for use during the address canvassing portion of the 2010 United States Census.
2012: In December, Harris Corporation sold its broadcast equipment operations to the Gores Group which operated as Harris Broadcast and is now GatesAir.
2015: On May 29 the purchase of competitor Exelis Inc. was finalized, almost doubling the size of the original company. In July, Harris Corporation sold its healthcare division, Harris Healthcare Solutions, to NantHealth.
2017: In January, Harris sold off its government IT services division to Veritas Capital for $690 million.
2019: That purchase closed in September 2019, and Harris Night Vision was subsequently renamed Elbit Systems of America - Night Vision.
Mission
The company is committed to being passionate about its customers and their missions. L3Harris Technologies is a leading provider of advanced defense technologies and commercial solutions, including communication systems, space and airborne systems, and electronic systems.
In addition to its commitment to providing innovative technologies, L3Harris Technologies is also committed to providing exceptional customer service. The company understands the importance of meeting its customers' needs, and it strives to exceed their expectations at every turn. L3Harris Technologies has a strong focus on quality and reliability, and it works diligently to ensure that its products and services are of the highest possible standard.
Vision
L3Harris Technologies envisions a world where its agile technology can anticipate and rapidly respond to challenges, resulting in a safer and more secure future. The company is committed to leveraging its expertise to innovate and develop solutions that meet the ever-changing needs of its customers, particularly in the areas of national security, civil service, and transportation safety. With a focus on agility, innovation, and customer satisfaction, L3Harris Technologies strives to remain a leading provider of technology solutions for a safer and more secure world.
Key Team
Don Patterson (Director, PLM/ Systems Engineering, at L3Harris Technologies, Inc)
Keith Sneddon (Technical Fellow/Chief Engineer)
Paul M. Matsumoto (Senior Manager, Systems Engineering Dept., Chief Engineer)
Vyomesh Joshi (Board Member)
Recognition and Awards
Products and Services
Advanced Combat Systems: L3Harris provides advanced combat systems, including air combat and air defense systems, ground combat systems, and command and control systems.
Intelligence and Surveillance: L3Harris offers intelligence and surveillance solutions such as radar systems, electronic warfare systems, and communications systems.
Networked Communications: L3Harris provides networked communications solutions such as satellite communications and network security systems.
Space and Missile Defense: L3Harris offers space and missile defense systems, including launch vehicles and missile defense systems.
Training and Simulation: L3Harris offers training and simulation systems, including virtual reality and augmented reality systems.
Cyber Security: L3Harris provides cyber security solutions such as secure cloud and identity management.
Navigation and Positioning: L3Harris offers navigation and positioning solutions, including GPS systems and inertial navigation systems.
Autonomy and Robotics: L3Harris provides autonomy and robotics systems, including autonomous vehicles and robotics systems.
Mission Support: L3Harris offers mission support services, including engineering and logistics support.
References
https://en.wikipedia.org/wiki/L3Harris_Technologies
https://www.encyclopedia.com/books/politics-and-business-magazines/harris-corporation-1
https://www.crunchbase.com/organization/harris
https://www.companieshistory.com/l3harris-technologies-inc/
https://sec.report/CIK/0001039101
https://companiesmarketcap.com/largest-companies-by-revenue/
https://www.bloomberg.com/profile/company/HRS:SW
https://finance.yahoo.com/quote/LHX/profile/
https://www.forbes.com/companies/l3harris-technologies/?sh=13c16ccf1fa8
https://www.globaldata.com/company-profile/l3-harris-technologies-inc/
Darren Cowley (Director)
David Rickard (Board Member)
Technology