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L3Harris Technologies is restructuring its recently acquired Aerojet Rocketdyne business, planning a partial sale and an IPO to enhance its focus on national defense and rocket propulsion. In FY 2025, Aerojet Rocketdyne achieved 12% organic growth and over $2.8 billion in revenue, prompting L3Harris to sell a 60% stake in its space propulsion segment to AE Industrial Partners for $845 million.