L3 Technologies (NYSE:LLL) announced today that it has been awarded a prime contract with an estimated value of more than $1 billion to deliver four aircraft with next-generation airborne electronic warfare (EW) capability to the Royal Australian Air Force (RAAF).
Known as the MC-55A Peregrine, the contract includes four modified Gulfstream G550 aircraft with an integrated mission system that provides the latest EW capabilities. Work on this program was initiated in 2017. Funded orders received on this contract were approximately $230 million for the 2019 first quarter and approximately $700 million in total as of March 29, 2019.
Our mission solution and electronic warfare capabilities are highly sought-after by our allies, said Christopher E. Kubasik, L3s Chairman, Chief Executive Officer and President. As business jets are increasingly utilized for EW purposes, we have invested in miniaturizing our capabilities to deliver new resources for our customers. Australia is a very important market for L3, and we look forward to a long and productive partnership with the RAAF and the local supplier base in support of the Peregrine program.
The MC-55A Peregrine will be integrated into the Commonwealths joint warfighting networks, providing a critical link between platforms, including the F-35A Joint Strike Fighter, E-7A Wedgetail, EA-18G Growler, Navy surface combatants and amphibious assault ships, and ground assets to support the warfighter.
This capability will greatly strengthen the RAAFs goal to becoming a fully networked fifth-generation force and considerably enhance their global effect on peacekeeping and humanitarian operations, said Jeff Miller, Corporate Senior Vice President and President of L3s ISR Systems business segment. It will serve as a critical link between air, land and sea assets to provide airborne electronic warfare support to Commonwealth and allied warfighters in complex operating environments.
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Work is being performed at L3s Greenville, Texas facility and at Gulfstream in Savannah, Georgia. It will include airframe modifications to accommodate mission systems and secure communications equipment, installation of a self-protection suite, ground-based data processing systems and crew training services.
With headquarters in New York City and approximately 31,000 employees worldwide, L3 develops advanced defense technologies and commercial solutions in pilot training, aviation security, night vision and EO/IR, weapons, maritime systems and space. The company reported 2018 sales of $10.2 billion.
To learn more about L3, please visit the companys website at www.L3T.com. L3 uses its website as a channel of distribution of material company information. Financial and other material information regarding L3 is routinely posted on the companys website and is readily accessible.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. Statements that are predictive in nature, that depend upon or refer to events or conditions or that include words such as expects, anticipates, intends, plans, believes, estimates, will, could and similar expressions are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the companys Safe Harbor Compliance Statement for Forward-Looking Statements included in the companys recent filings, including Forms 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.