HomeTop MoversL3Harris Technologies, Inc. (LHX): A Growing Stock That Will Be King

L3Harris Technologies, Inc. (LHX): A Growing Stock That Will Be King

L3Harris Technologies, Inc. (NYSE: LHX), a defense business, has announced an investment in the development of next-generation communication systems. This is an essential milestone in the company’s move to a new stage of development.

L3Harris Technologies, Inc. (LHX) announced last week an investment of €11.2 million in the German business Mynaric, giving it a holding in 7.2 percent of the shares. LHX already employs Mynaric laser communication terminals and recently showcased a new space communication system based on the company’s innovations.

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L3Harris Technologies, Inc. (LHX) will now leverage Mynaric technologies in new areas, including space. Many of the satellites that L3Harris will make at its new huge factory will most likely be based on laser transceivers.

It is critical for L3Harris Technologies, Inc. (LHX) to retain a presence in the defense industry, namely in the communications area, where the business has long held leadership. It is now time for new technologies, such as laser communication, which is more jam-proof, quicker, and quieter. In general, lasers are more suited for space since they do not require huge radio antennae, which are difficult to “pack” beneath the rocket’s fairing.

However, in this sector, a highly competitive climate is already evolving. Sony Corporation (NYSE: SONY) has “remembered” its pioneering expertise and has entered the laser transceiver business.

L3Harris Technologies, Inc. (LHX) decreases the risks of losing access to technology, which is required to occupy a major part of prospective markets, by purchasing a stake in Mynaric. L3Harris and Mynaric have already announced an increased collaboration in the development and testing of new space-to-ground laser communications technologies.

It should be emphasized, however, that Mynaric collaborates with other firms, notably rival LHX. Mynaric, in particular, is a significant supplier to Northrop Grumman.

LHX stock fell -1.92 percent in the previous week and -2.41 percent in the previous month. This company’s stock dropped -8.53 percent in the previous quarter. The stock has gained 9.66 percent in the previous six months and 6.50 percent year to date. This stock’s year-to-date (YTD) price performance is presently positive at 11.87 percent at the time of writing.

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