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  • Thursday, April 25, 2024

Northrop Secures $97M Option on Navy Counter IED Tech Supply Contract


Northrop Grumman (NYSE: NOC) has received a $96.5 million contract modification from the U.S. Navy to produce systems designed to protect troops, vehicles and structures against radio-controlled improvised explosive devices.

The Defense Department said Friday the service branch exercised an option for full-rate production of the Block One Joint Counter Radio-Controlled Improvised Explosive Device Electronic Warfare Increment One system.

The Naval Sea Systems Command will obligate the full modification amount at the time of award, with $1.2 million slated to expire at the end of the current fiscal year.

Northrop is scheduled to finish work under the exercised option by April 2020.

The award stems from a potential $505 million contract the company won in July of last year.

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