Northrop Awarded $262 Million Contract for F-16 Radar Systems
Defense contracting giant Northrop Grumman (NYSE: NOC) was awarded a $262.3 million defense contract by the U.S. Air Force this evening.
The largest contract headlining today's edition of the Pentagon's daily digest of contract awards, Northrop's contract concerns a "modification" of a prior award for the production and supply of Active Electronically Scanned Array radars that equip Air Force F-16 Falcon jet fighter aircraft. Specifically, the Air Force has exercised contract options to have Northrop manufacture and deliver "90 production radars, as well as associated support equipment and spares" and also to "15 engineering, manufacturing and development" units of the same radar.
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Source Fool.com
