Northrop Lands $113.7 Million Advanced Hawkeye AEW Contract
Northrop Grumman landed a sizable Pentagon defense contract on Monday.
The award, worth $113.7 million, is an "advance acquisition contract" with fixed-price line items funding Northrop's purchase of long-lead materials necessary for it to begin Full Rate Production of five E-2D Advanced Hawkeye Lot 2 airborne early warning aircraft for the U.S. Navy. Northrop is expected to complete work on the contract by March 2014.
Northrop describes the Advanced Hawkeye as the "digital quarterback" of a Navy carrier strike group. Its role is to sweep the battlefield ahead of a strike force with its powerful airborne radars, detecting threats and assigning assets to meet these threats. In battle, the Advanced Hawkeye "manages" the Navy's warplanes in the air, identifying and keeping track of friendly and unfriendly aircraft and warning the seaborne fleet away from danger.
The article Northrop Lands $113.7 Million Advanced Hawkeye AEW Contract originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Northrop Grumman. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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