Northrop's Space Business Is About to Get $2 Billion Bigger
My, how time flies!
It's been 15 years already since NASA played midwife to the commercial space industry in America, hiring SpaceX and Orbital Sciences, now part of Northrop Grumman (NYSE: NOC), to build their own spaceships and deliver supplies to the International Space Station as NASA contractors. Without those $3.5 billion in initial awards, it's arguable the recent explosion of new space companies joining America's public stock markets would never have happened.
Eight years later, in 2016, NASA subsidized the creation of one more spaceship, built by one more space company, when it expanded its Commercial Resupply Services contract to include Sierra Nevada Corporation. NASA further extended this contract, now known as CRS-2, through 2026 last year.
Source Fool.com
