L3Harris Technologies, Inc. (LHX) and EDGE Group Expand Defense Partnership in the UAE

LHX +0.92%

L3Harris Technologies, Inc. (NYSE:LHX) is among the 10 Best Drone Stocks to Buy Right Now. On November 18, the company announced that it had signed a memorandum of understanding (MoU) with EDGE Group to expand their partnership in the United Arab Emirates.

The two companies will collaborate on research and development related to AI and autonomy and deliver solutions that enhance the UAE’s defense capabilities. The partnership will also aid in expanding L3Harris’ presence in the Middle East, which has been serving clients in the UAE for the past 35 years.

Christopher Kubasik, Chairman and CEO of L3Harris Technologies, Inc. (NYSE:LHX) was quoted as saying the following in a press release on the agreement:

“Partnerships are a hallmark of our Trusted Disruptor strategy, and EDGE is the kind of disruptive innovator we’re seeking to collaborate with. Together, we’ll accelerate the development and delivery of the advanced solutions the UAE needs to confront emerging threats.”

In other news, on the same day, L3Harris Technologies, Inc. (NYSE:LHX) broke ground on a new solid rocket motor production facility in Arkansas. The company plans on investing $400 million in the campus, which is being seen as a major expansion in the U.S., as demand for solid rocket motors rises due to ongoing conflicts in Ukraine and the Middle East.

L3Harris Technologies, Inc. (NYSE:LHX) provides end-to-end technology solutions connecting the air, land, space, sea, and cyber domains in national security.

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