L3Harris Technologies is investing over $1 billion to expand its solid rocket motor facility in Orange County, Virginia.
The project will more than double the site's existing manufacturing space. The company expects to create over 350 new jobs within the next five years.
This expansion increases production capacity for critical munitions and missile systems. Ken Bedingfield, President of Missile Solutions at L3Harris, stated the investment delivers additional capability to the Department of Defense and U.S. allies.
The move responds to heightened geopolitical tensions and the need for supply chain reinforcement. This production scale-up reflects core drivers for the defense industrial base and the XAR ETF.