Northrop Grumman Corporation
) announced that its unit Northrop Grumman Italia received a $38.4
million (€30 million) contract from Eurofighter Consortium, the
prime contractor being Alenia Aermacchi.
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Per the contract, the Northrop unit will supply Fibre-optical Gyro
Inertial Navigation System and a global positioning system ("GPS")
receiver for Tranche 3 of the Eurofighter Typhoon multirole combat
aircraft. Northrop Grumman won the contract by virtue of its
expertise and past record of supplying sophisticated equipment to
The navigation equipment will enhance the capability of these
aircrafts by providing digital maps and direct drive display, which
will help in improved viewing and integration of the aircraft's
Northern Grumman has spawned into a global security company with a
worldwide customer base. The company has been able to secure
international contracts consistently.
In June this year, Northrop received a foreign military sales
contract to provide the APG-68(V) 9 airborne fire control radar to
Thailand, Iraq and Oman for use on F-16 fighter aircraft. Per
the contract, the company will deliver 6 radar systems to the Royal
Thai Air Force, 22 radar systems to the Iraqi Air Force and 15
radar systems to the Royal Air Force of Oman.
Again in July, Northrop received a contract from the civil aviation
authority of Chile, Direccion General de la Aeronautica Civil to
supply complete ground-to-air communication systems at multiple
sites across the country. Per the contract, the company will
deliver its latest T6 VHF radios with local technical support.
We believe the steady inflow of international orders to some extent
can counter the threat of US defense budget cuts. The majority of
defense operators are looking beyond the U.S. to secure orders. In
particular, they are eyeing the Asian and the Middle East markets,
where defense spending is on an uptrend.
Northrop Grumman Corporation retains a Zacks #2 Rank (Buy rating).
The company competes with the likes of
General Dynamics Corp
Lockheed Martin Corporation
) in the aerospace and defense industry.
Northrop Grumman Corporation is a leading global security company
providing innovative systems, products and solutions in aerospace,
electronics, information systems, and technical services to
government and commercial customers worldwide.