Oct 24 (Reuters) - L3Harris ( LHX ) raised the lower end

of its annual profit and revenue forecasts on Thursday, betting

on sustained weapons demand and robust defense spending amid

escalating global security concerns.

Shares rose 3.6% after the bell.

Geopolitical tensions have benefited arms manufacturers such

as Lockheed Martin ( LMT ) , RTX, and Northrop Grumman ( NOC )

, all of which also raised their 2024 earnings forecasts.

The company now expects 2024 adjusted profit to range

between $12.95 to $13.15 per share, up from its previous

estimate ranging $12.85 - $13.15 per share.

Revenue for the year is now expected to range between $21.1

billion to $21.3 billion, up from its previous forecast range of

$21.0 billion to $21.3 billion.

The ongoing war in Ukraine has fueled strong demand for U.S.

weaponry globally, with nations actively negotiating and

striking deals to acquire arms and seeking to expedite ongoing

contracts.

L3Harris ( LHX ) and Northrop are the top two companies that supply

sought-after rocket motors, used in guided multiple-launch

rocket systems, which have played a crucial role in supporting

Ukraine's defense efforts against Russian forces.

For the quarter ended September 27, L3Harris ( LHX ) posted adjusted

profit of $3.34 per share, beating analysts' estimates of $3.26

per share, according to LSEG compiled data.

The Florida-based company's overall quarterly sales rose 8%

to $5.29 billion, compared with analysts' estimate of $5.28

billion.