L3Harris Technologies closed a $1 billion strategic investment from the U.S. Department of War to modernize missile production.
The capital targets increased capacity for the PAC-3, THAAD, Tomahawk, and Standard Missile programs.
Expansion efforts will focus on facilities in Huntsville, Alabama; Camden, Arkansas; and Orange, Virginia.
The agreement grants the government future ownership in the L3Harris Missile Solutions (MSL) business.
L3Harris intends to take the MSL unit public through an IPO in the second half of 2026.