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L3Harris Technologies (NYSE:LHX) has begun constructing four solid rocket motor production facilities at its Camden site to meet increasing missile demand amid global tensions. The $215.6 million expansion, funded under the Pentagon’s defense production act program, will boost domestic missile manufacturing with new propellant processing buildings.
L3Harris, which acquired Aerojet Rocketdyne in December 2022, is strengthening its role as a key supplier of rocket motors. The unit plays a critical role in replacing aging Minuteman III intercontinental ballistic missiles and bolstering the U.S. tactical missile stockpile.
Following the acquisition, L3Harris increased spending on Aerojet Rocketdyne by 84%, improving production capabilities after years of underinvestment and late deliveries. The investment aligns with rising global demand for military equipment, driven by conflicts such as the Russia-Ukraine war and tensions in the Middle East.
As nations seek to replenish missile stockpiles, defense contractors like L3Harris stand to benefit. The expansion enhances the U.S. defense supply chain, ensuring a steady production of advanced missile components while solidifying L3Harris’ position in the defense industry.
