Defense supplier L3 combines aerospace, sensor businesses [Reuters]
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Source: Reuters
Defense supplier L3 combines aerospace, sensor businesses | Reuters Reuters Staff 2 Min Read (Reuters) - Defense equipment maker L3 Technologies Inc ( LLL.N ) said on Thursday it would merge its aerospace and sensor systems businesses to focus more on intelligence, surveillance and reconnaissance products. The businesses make special mission aircraft, fleet management support services, networked warfighter systems, night vision equipment and space avionics. The move comes at a time when defense spending in the United States is increasing. The U.S. Senate passed a $716 billion defense policy bill on Wednesday, backing U.S. President Donald Trump’s call for a bigger, stronger military. L3’s new business, which is estimated to generate $4.7 billion in 2018 sales and will be called Intelligence, Surveillance & Reconnaissance (ISR) Systems, will be headed by Jeffrey Miller, senior vice president and president of the sensor systems unit. Mark Schwarz, president of its aerospace systems bu
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