Reported L3, Harris merger would create seventh largest defense firm in the world
“A reported merger between L3 and Harris would create the seventh-largest defense company in the world, one which could become a prohibitive favorite for military communication contracts coming from the Pentagon. The potential deal, first reported Saturday by the Wall Street Journal, would be positioned as a merger of two equals as opposed to one buying the other outright. The Journal noted that the deal was being worked and could still fall apart.
According to the Defense News Top 100, the industry standard ranking of the largest defense firms in the world, in fiscal year 2017 L3 ranked 12th overall, with total revenues of $9.57 billion and total defense revenues of $7.75 billion. Harris, ranked 19th overall, had total revenue of just under $6 billion and $4.15 billion in defense revenues. Combined, the two would have total revenues of $15.57 billion, and the defense revenue total of $11.9 billion would put the company at number seven of the rankings — ahead of notable defense firms like Airbus, Almaz-Antey, Thales and Leonardo. (Those numbers reflect FY17 figures, and are expected to have grown since then.)”