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L3 Harris Technologies SWOT & PESTLE Analysis

ID : 52808753| Nov 2020| 15 pages

COMPANY PROFILE -L3 Harris Technologies

Business Sector :Aerospace and Defense

Operating Geography :United States, North America, Global

About L3 Harris Technologies :

L3 Harris Technologies is an American Aerospace and Defense Company which was formed from the merger of L3 Technologies and Harris Corporations on June, 2019. They are currently the 6th largest defense contractor in the world with revenue of $18.1 billion in the fiscal year 2020. They have been constantly focusing on technological innovation delivering end-to-end solutions and products that meet customer’s needs. L3 Harris deals with products, systems and services which have defense and civil government applications, as well as commercial applications. They provide advanced defense and commercial technologies across air, land, sea, space and cyber domains to various government and commercial customers in 130 countries, with their largest customers being various departments and agencies of the U.S. Government and their prime contractors. Their business operates in 4 major segments – Integrated Mission systems, Space and Airborne Systems, Communication Systems and Aviation systems. They have a strong position in the fast growing Electro-optical and Infrared Systems market and domain leader for secure, effective and resilient maritime operations.

L3 Harris Technologies Revenue :


$18,074 million - Fiscal Year ended 2019 (YoY growth of 10%)
$16,404 million - Fiscal Year ended 2018

Competitive Analysis of L3 Harris Technologies

SWOT
PESTLE
The SWOT analysis of L3 Harris Technologies is presented below:
Strengths
Weaknesses
1. Strong Research and Development team with continuous focus on innovation
2. Huge portfolio of patents and other intellectual property
3. Huge diversified business mix with global leadership
4. Strong cash flow and financial stability
5. Huge workforce and strong employee relations
1. High dependence on US government customer for a significant portion of the revenue
2. Difficulties in integrating the merger of the businesses
Opportunities
Threats
1. Execute seamless integration and cumulative cost synergies
2. Invest in differentiated technology and innovation
3. Industry trends supporting long-term growth
4. Growing international presence
1. Highly competitive aerospace and defense market
2. Threat of security breach
3. Complying with the Environmental regulations
4. Shortage of raw materials and supplies
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Detailed SWOT Analysis of L3 Harris Technologies

 

Strength

1. Strong Research and Development team with continuous focus on innovation: The Company has a very strong research and development team that has always focused on continuous innovation. L3 Harris spent approximately $329 million in first two quarters of the fiscal year 2020 and $331 million in the year 2019. A portion of their R&D expenditure is incurred for commercial products and services, and some portion is allocated among contracts and programs in process under U.S. Government contractual arrangements. Such company-sponsored research is directed to the development of new products and services and to building technological capabilities in various markets leading to competitive advantage for L3 Harris.

2. Huge portfolio of patents and other intellectual property: The culture of innovation that the company has established over the years has led to several patents and other intellectual property which has become one of their most important assets. L3 Harris owns a huge portfolio of patents, trade secrets, know-how, confidential information, trademarks, copyrights and other intellectual property, including reliable, resilient and innovative cyber capabilities. As of year, 2020, L3 Harris held approximately 2460 U.S. patents and 2,070 foreign patents along with approximately 280 U.S. patent applications pending and 280 foreign patent applications pending. They are also engaged in a patent licensing program and cross-license agreements which also generate royalty income. Such intellectual property rights offer huge competitive advantage to them in the market.

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Weakness

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Opportunity

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Threat

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Key Business Segments / Diversification :

L3 Harris Technologies
Integrated Mission Systems Space & Airborne Systems Aviation Systems
Communication Systems
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L3 Harris Technologies SWOT & PESTLE Analysis - SWOT & PESTLE.COM

SWOT & PESTLE.com (2020). L3 Harris Technologies SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/l3-harris-technologies/ [Accessed 30 Nov, 2020].

In-text: (SWOT & PESTLE.com, 2020)

Copyrights and Disclaimer

L3 Harris Technologies SWOT and PESTLE analysis has been conducted by Saurav Mansingka and reviewed by senior analysts from Barakaat Consulting.

Copyright of L3 Harris Technologies SWOT and PESTLE Analysis is the property of Barakaat Consulting. Please refer to the Terms and Conditions and Disclaimer for usage guidelines.

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