Northrop Wins $115 Million in Foreign Military Sales Contracts

The Department of Defense awarded Northrop Grumman (NYSE: NOC  ) a sizable "foreign military sales contract" Monday.

Northrop's Electronic Business unit will supply 16 AN/APG-68 (V)9 multimode fire control radar systems to the Royal Thai Air Force and also supply 22 units of the same radar system to Iraq by Dec. 20, 2017. In addition, Northrop will be supplying spare parts to the Egyptian Air Force, the Royal Moroccan Air Force, and the Pakistan Air Force.

The combined value of all radar systems and parts covered by this single contract is put at a maximum of $115 million, firm-fixed-price.

Northrop describes the AN/APG-68 (V)9 on its website, clarifying that this system is used to target air-to-air and air-to-surface threats aboard F-16 fighter jets. The AN/APG-68 (V)9 is said to have 33% greater range than "legacy" radar systems first used aboard the F-16, while weighing less, consuming less power, and costing between 25% and 45% less than legacy systems to maintain.

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9/28/2016 4:04 PM
NOC $217.90 Down -0.15 -0.07%
Northrop Grumman CAPS Rating: ****