Under the terms of the proposal, L3Harris intends to pursue an IPO of the Missile Solutions business in the second half of 2026, creating a separately traded company focused on missile propulsion. The company said the structure supports the DoW’s new acquisition transformation strategy and aims to increase speed and scale in defence manufacturing.
The Missile Solutions business was formed following L3Harris’ acquisition of Aerojet Rocketdyne and brings together its missile-related capabilities across offensive and defensive systems. L3Harris said the DoW investment, combined with sustained long-term demand, would support capacity expansion for programmes including PAC-3, THAAD, Tomahawk and Standard Missile.
“We’re taking action to build today’s ‘Arsenal of Freedom’ by launching a pure-play missile solutions provider,” said Christopher Kubasik, Chairman and CEO of L3Harris. “Recent Trump Administration actions have placed renewed emphasis on strengthening the defense industrial base and reinvigorating competition following a 30-year wave of consolidation.”
Following completion of the transactions, L3Harris will retain a controlling interest in the Missile Solutions business while operating it as an independent entity. The company said the move is expected to unlock value for shareholders and improve support for the warfighter through sharper strategic focus and growth.
L3Harris will host an investor conference on the proposed DoW partnership on 13 January 2026 at 9:00 ET, with streaming details available on its website. J.P. Morgan Securities LLC is acting as financial adviser and Vinson & Elkins LLP as legal adviser on the proposed transaction.
