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South Korea to Buy Global Hawk UAVs

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On Monday, the U.S. Defense Security Cooperation Agency announced that it has notified Congress of a possible Foreign Military Sale to the government of South Korea. If approved by Congress, prime contractor Northrop Grumman (NYSE: NOC  ) will sell four of its RQ-4 Block 30 (I) Global Hawk spy drones, along with "associated equipment, parts, training, and logistical support."

The Global Hawk, one of the largest and most complex unmanned aerial vehicles (UAVs) in the U.S. arsenal, carries a correspondingly large price tag. The bill for this sale comes to an estimated $1.2 billion, or $300 million per UAV.

DSCA notes that the Global Hawks are being ordered in connection with a handoff from U.S. military forces to those of South Korea of "primary responsibility for intelligence gathering" on the Korean peninsula, slated to take place in 2015.

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Rich Smith

I love things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. Follow me on Twitter or Facebook for the most important developments in defense & aerospace news, and other great stories besides.

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12/1/2015 4:02 PM
NOC $187.31 Up +0.95 +0.51%
Northrop Grumman C… CAPS Rating: *****