L3Harris Technologies will invest more than $1 billion to expand its solid rocket motor production capacity in Orange County, Virginia, a move that will more than double the facility's output.
"This investment will transform our Orange County site into the Virginia Advanced Propulsion Facilities, a modern, efficient, and safe rocket production facility," said Christopher E. Kubasik, Chair and Chief Executive Officer of L3Harris, in a statement. "We are grateful for our partnership with Governor Spanberger and Orange County as we create a facility that will help address the nation's security challenges."
The expansion project, announced in agreement with Virginia Gov. Abigail Spanberger and the Orange County Board of Supervisors, builds upon a previously announced expansion at the site. The creation of the VAPF is a significant capital investment for L3Harris, a major player in the defense and aerospace industry.
This expansion solidifies L3Harris's critical role in the solid rocket motor market, a key component for U.S. defense and space programs. The increased production capacity is expected to strengthen the company's ability to secure large government contracts and drive future revenue growth. Investors will be watching for further details on the project's timeline and execution.
This article is for informational purposes only and does not constitute investment advice.
