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This statistic highlights L3Harris Technologies’ Revenue Breakdown, split between Communication Systems, Integrated Mission Systems and Space and Airborne Systems, reported quarterly from Q1 2019 onwards.
|Period||2022 Q1||2022 Q4||2023 Q1||YoY Growth (2023 Q1)|
|Integrated Mission Systems||1,721,000,000.0||1,812,000,000.0||1,700,000,000.0||-1.22%|
|Space and Airborne Systems||1,450,000,000.0||1,610,000,000.0||1,655,000,000.0||14.14%|
(All the figures are in USD, except percentage)
L3Harris Technologies, a worldwide technology leader, works across many segments, delivering cutting-edge solutions to a diverse variety of industries. We get significant insights into L3Harris’ performance and the dynamics of its numerous business divisions by evaluating revenue data across several segments during the first quarter of 2022, the fourth quarter of 2022, and the first quarter of 2023.
Communication Systems: During the studied periods, L3Harris’ Communication Systems business grew at a rapid pace, according to the statistics. Starting at 963,000,000.0 USD in 2022 Q1, revenue climbed dramatically to 1,193,000,000.0 USD in 2022 Q4, a 23.89% rise. Revenue increased to 1,163,000,000.0 USD in the first quarter of 2023, representing a 20.77% year-on-year increase. This segment’s success might be due to the rising demand for advanced communication technologies and L3Harris’ ability to provide clients with new solutions.
Integrated Systems: During the examined timeframes, L3Harris’ Integrated Mission Systems sector had inconsistent results. Revenue began at 1,721,000,000.0 USD in 2022 Q1 and went slightly to 1,812,000,000.0 USD in 2022 Q4, representing a 5.29% increase. However, in the first quarter of 2023, the figure fell to 1,700,000,000.0 USD, a -1.22% year-on-year fall. The cyclical nature of defence contracts and market dynamics may explain swings in revenue in this area.
Space and Airborne Systems: During the examined periods, L3Harris’ Space and Airborne Systems business grew steadily. Revenue began at 1,450,000,000.0 USD in 2022 Q1 and climbed to 1,610,000,000.0 USD in 2022 Q4, representing an 11.03% increase. The first quarter of 2023 saw more growth to 1,655,000,000.0 USD, representing a 14.14% year-on-year increase. The performance of this section may be linked to the high demand for space-related technology and airborne systems.
About the Company: L3Harris Technologies is an international technology firm at the forefront of innovation and solutions for the aerospace, defence, and communication industry. L3Harris, headquartered in the United States, combines cutting-edge technology and skills to provide mission-critical solutions to governments, commercial organizations, and other clients globally. L3Harris is a prominent participant in offering sophisticated and dependable solutions to tough issues, with a diversified portfolio covering communication systems, space, and airborne systems, and integrated mission solutions. The company’s dedication to innovation, excellence, and customer satisfaction has solidified its position as a premier technological partner for a wide range of sectors and applications.
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