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Northrop Grumman Clinches $108M Contract for Fire Scout
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Falls Church, VA-based Northrop Grumman Corp.’s (NOC - Free Report) unit, Systems Corp., has won a contract from the U.S. Navy to produce 10 MQ-8C Fire Scout unmanned air systems.
Details of the Deal
The contract is valued at $108.1 million and the contracting activity is the Naval Air Systems Command, Patuxent River, MD.
Work is scheduled to be complete by Aug 2019 and the majority of the work will be performed in San Diego, CA, while the rest will be carried out in Ozark, AL; Fort Worth, TX; Moss Point, MS; and in various locations across U.S. The contract will use fiscal 2015 and 2016 aircraft procurement (Navy) funds.
MQ-8C Fire Scout, the Navy’s next-generation unmanned helicopter, has an airframe derived from the commercial Bell 407. It is equipped with Northrop Grumman's unmanned systems architecture, which enables it to cater to customers looking for unmanned systems that can be mounted both from land and sea.
The Fire Scout also has the capability to land on any aviation-capable vessel and take off from both prepared and unprepared landing zones by itself. It offers ship commanders with improved range, better endurance and higher payload capacity. All tests on the MQ-8C have been completed and the chopper is now waiting to be deployed.
About Northrop Grumman
Northrop Grumman is the fourth-largest U.S. defense contractor. The company supplies a broad array of products and services to the U.S. Department of Defense including defense electronics, unmanned aircraft and missile defense. Northrop Grumman witnesses revenue growth across the board, backed by a broad diversification of programs. The company continues to see strong demand for its unmanned air systems on a global scale.
Northrop Grumman’s backlog is expected to see further upside in the near future through its unmanned aerial vehicle (UAV) platforms, Titron, Global Hawk, Fire Scout and Navy Unmanned Combat Air System (UCA).
Zacks Rank
Northrop Grumman currently has a Zacks Rank #3 (Hold). A few better-ranked stocks in the aerospace and defense space include Engility Holdings, Inc. , General Dynamics Corporation (GD - Free Report) and Leidos Holdings, Inc. (LDOS - Free Report) . While Engility Holdings sports a Zacks Rank #1 (Strong Buy), both General Dynamics and Leidos carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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Northrop Grumman Clinches $108M Contract for Fire Scout
Falls Church, VA-based Northrop Grumman Corp.’s (NOC - Free Report) unit, Systems Corp., has won a contract from the U.S. Navy to produce 10 MQ-8C Fire Scout unmanned air systems.
Details of the Deal
The contract is valued at $108.1 million and the contracting activity is the Naval Air Systems Command, Patuxent River, MD.
Work is scheduled to be complete by Aug 2019 and the majority of the work will be performed in San Diego, CA, while the rest will be carried out in Ozark, AL; Fort Worth, TX; Moss Point, MS; and in various locations across U.S. The contract will use fiscal 2015 and 2016 aircraft procurement (Navy) funds.
NORTHROP GRUMMN Price
NORTHROP GRUMMN Price | NORTHROP GRUMMN Quote
What is the MQ-8C Fire Scout?
MQ-8C Fire Scout, the Navy’s next-generation unmanned helicopter, has an airframe derived from the commercial Bell 407. It is equipped with Northrop Grumman's unmanned systems architecture, which enables it to cater to customers looking for unmanned systems that can be mounted both from land and sea.
The Fire Scout also has the capability to land on any aviation-capable vessel and take off from both prepared and unprepared landing zones by itself. It offers ship commanders with improved range, better endurance and higher payload capacity. All tests on the MQ-8C have been completed and the chopper is now waiting to be deployed.
About Northrop Grumman
Northrop Grumman is the fourth-largest U.S. defense contractor. The company supplies a broad array of products and services to the U.S. Department of Defense including defense electronics, unmanned aircraft and missile defense. Northrop Grumman witnesses revenue growth across the board, backed by a broad diversification of programs. The company continues to see strong demand for its unmanned air systems on a global scale.
Northrop Grumman’s backlog is expected to see further upside in the near future through its unmanned aerial vehicle (UAV) platforms, Titron, Global Hawk, Fire Scout and Navy Unmanned Combat Air System (UCA).
Zacks Rank
Northrop Grumman currently has a Zacks Rank #3 (Hold). A few better-ranked stocks in the aerospace and defense space include Engility Holdings, Inc. , General Dynamics Corporation (GD - Free Report) and Leidos Holdings, Inc. (LDOS - Free Report) . While Engility Holdings sports a Zacks Rank #1 (Strong Buy), both General Dynamics and Leidos carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>