Harris Corp. (NYSE: HRS – $156.22) has been selected to modernize India’s air traffic management communications infrastructure and support one of the world’s fastest growing aviation markets, which is expected to double in size over the next 10 years. The Airports Authority of India, which owns and maintains 129 airports, awarded Harris a 15-year $141 million contract to serve as the prime contractor and systems integrator for the authority’s initiative. The project will upgrade network operations, enhance security and improve the performance, reliability and quality of India’s air traffic management network, while reducing telecommunications costs. In addition, the initiative will leverage Harris’ highly successful FAA managed network services model and expand the company’s presence in an important international region and air traffic management market.
Melbourne, Florida’s Harris Corp. is a leading technology provider that supports government and commercial customers in more than 100 countries. The company is organized into three business segments: Communication Systems, Electronic Systems and Space and Intelligence Systems. The shares continue to have solid long-term growth characteristics and yield 1.5%.