Harris Corporation Awarded $84 Million Contract to Produce Experimental Space Vehicle to Enhance GPS Capabilities

Highlights:

Demonstrates new position, navigation and timing capabilities to improve GPS resiliency

Reprogrammable approach provides flexibility and agility throughout the satellite's lifecycle

Leverages company's 40-plus-year experience transmitting GPS navigation signals

Harris Corporation (NYSE:HRS) has received an $84 million contract to produce Navigation Technology Satellite-3 (NTS-3), an experimental satellite that will demonstrate new position, navigation and timing capabilities to improve the resiliency of the Global Positioning System (GPS).

The Space Enterprise Consortium selected Harris as the prime system integrator to design, develop, integrate and test NTS-3, including ground mission applications. The contract was signed in December 2018. Scheduled to launch in 2022, the position, navigation and timing (PNT) satellite will simultaneously broadcast military and earth coverage signals at increased power levels - enabling it to operate in contested environments.

The time keeping system will use diverse timing sources to improve mission stability, anomaly detection and correction. The system's design will enable Harris to rapidly develop and deploy new waveforms to reprogram and update the satellite throughout its lifecycle.

The Harris solution extends beyond the traditional bounds of space-based reprogrammable payloads to enable new techniques to combat evolving threats, said Chris Forseth, vice president and general manager, Harris Space Superiority business.

Harris will leverage its 40-plus years of Harris GPS and space antenna expertise to support all phases of the project. Harris' expertise in creating and sending GPS signals extends back to the mid-1970s - with the company providing navigation technology for every U.S. GPS satellite ever launched. Originally developed for warfighters, millions of people around the world and billions of dollars of commerce now depend on the accurate, reliable GPS signal created and sent by Harris navigation technology.

About Harris Corporation

Harris Corporation is a leading technology innovator, solving customers' toughest mission-critical challenges by providing solutions that connect, inform and protect. Harris supports government and commercial customers in more than 100 countries and has approximately $6 billion in annual revenue. The company is organized into three business segments: Communication Systems, Electronic Systems and Space and Intelligence Systems. Learn more at harris.com.

Forward-Looking Statements

This press release contains forward-looking statements that reflect managements current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about the value or expected value of orders, contracts or programs and about system capabilities are forward-looking and involve risks and uncertainties. Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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LINK:	https://www.harris.com/press-releases/2019/04/harris-corporation-award...
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