Northrop Grumman Corp. (NYSE: NOC) has won a potential $294.3 million contract to develop nose arrays for a U.S. Navy torpedo.
The company will build 428 nose arrays for the MK54 torpedo under $45.9 in base funds and could make nearly and nearly 3, 000 more units if the Navy exercises all options, the company said Wednesday.
Tom Jones, vice president of Northrop’s undersea systems business unit, said the company builds the arrays for the Navy and international partners for their undersea combat technology initiativess.
The firm-fixed-price, cost-plus contract supports foreign military sales requirements and includes nose arrays for naval forces of Australia and India.
Northrop has engineered more than 550 MK50 torpedoes and 491 MK48 Advanced Capability torpedoes for the U.S. Navy, the company says.
It also designed the current MK48 ADCAP Mod 7 Common Broadband Advanced Sonar System upgrade.