L3Harris Moves Forward With Missile Business IPO
L3Harris Technologies (NYSE: LHX) has confidentially filed to take its Missile Solutions division public through an initial public offering. The defense contractor submitted the Form S-1 registration statement on Wednesday, though specific details on share count and pricing have not yet been disclosed.
$1 Billion Government Backing
In January 2026, L3Harris announced plans to create a standalone entity for its rocket motor business, backed by a $1 billion investment from the U.S. Department of War. The Department of War closed this investment on April 22, 2026 through convertible preferred securities that will automatically convert to common equity at IPO, expected in the second half of 2026.
Expanding Critical Defense Production
The government investment secures domestic supply of essential motors for missile systems including Tomahawk cruise missiles and Patriot interceptors. Capital will be used to expand and modernize production facilities in Camden, Arkansas; Huntsville, Alabama; and Orange, Virginia. The Missile Solutions business was formed in early 2026 by consolidating capabilities across L3Harris, including operations from the Aerojet Rocketdyne acquisition.
Strong Growth Outlook
L3Harris CEO Chris Kubasik expects the missile business to achieve annual growth rates in the mid-to-high teens percentage range. L3Harris will retain majority ownership of over 80% following the IPO and continue to consolidate financial results.
