Actually, the original Greek does not say this!
"εἶπεν δὲ αὐτοῖς· Ὅταν προσεύχησθε, λέγετε· Πάτερ, ἁγιασθήτω τὸ ὄνομά σου·ἐλθέτω ἡ βασιλεία σου· " Luke 11:2
First, there is no word "our" simply the word "Father." The word for "our" in Greek is ἡμῶν or hemon.
Second, there is no "heaven" or οὐρανοῖς.
Third, ἁγιασθήτω, or "hagiastheto, is the aorist, imperative, passive. It is in fact, a passive command to God, best translated as "Let your name be holy!" "Hallowed" is an archaic word. This verb is in the jussive, which is beseeching God that his name would be holy. The implication is that the person praying declares or treats God as holy, with the reverence and respect due to a Heavenly Father.
As for the rest, it is an attempt to harmonize the Lord's Prayer in Matt 6:9
"Οὕτως οὖν προσεύχεσθε ὑμεῖς· Πάτερ ἡμῶν ὁ ἐν τοῖς οὐρανοῖς· ἁγιασθήτω τὸ ὄνομά σου," Matt 6:9
The second part of this would best be read as "Father our, the one in heaven, let the name your" Or "Our Father, the one in heaven, let your name be holy!" There actually is no verb in the first part of the sentence- no "art" or "is" or "to be" verb, as KJV so erroneously adds to the text, which NIV does not!
I think if you are going to compare versions, be prepared to discuss the original languages, which contain the real text, not the English translation of the KJV!
PS The NIV is also right with the last half if Luke 11:2 ἐλθέτω ἡ βασιλεία σου· The word ἐλθέτω or eltheto, is also in the aorist, imperative, But active, not passive! It means "let come the kingdom your" or reordered for English "Let your Kingdom come!"