David Keffer Northrop - The Navy plans to secure the purchase of 18 light amphibious warfare ships (LAWs) in the department's 2025 budget planning process, the Navy's most important...
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David Keffer Northrop
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The United States Space Force (USSF) said a SpaceX Falcon Heavy rocket launched Boeing [BA] Continuous Broadcast Augmented Satellite Communications (CBAS)-2 and Northrop Grumman [NOC] Long Duration Propulsion ESPA (LDPE) in January. )-3A communications satellite into orbit. NASA's Kennedy Space Center, Florida. Starting on the 15th... the U.S. Air Force (USAF) is gearing up for the public display and first flight of its new stealth bomber, the B-21 Raider, this year.
There's more to the top-secret defense program, Northrop Grumman's chairman and CEO Cathy Warden told reporters on a quarterly earnings call. According to Air Force Magazine, Warden said the government is looking to layer production of the Raider "on top" of its development phase.
B-21 production rates remain under wraps, but Warden confirmed the program was successful enough, adding $67 million in performance-based incentive fees to meet undisclosed goals in the first quarter.
Northrop Grumman executive vice president and chief financial officer David Keffer also said full-rate production costs "remain to be negotiated" to protect the project from inflation concerns with fixed-price contracts.
Northrop Grumman Earnings Up In Second Quarter
Low-rate initial production will begin in 2023, with engineering and manufacturing development phases running in parallel "for the time being," Keffer said.
In April, the U.S. Air Force awarded Northrop Grumman a $108 million contract to support advance procurement for the program. Advance purchase funds will directly support the procurement of long-lead programs required to build the first production B-21 aircraft.
Six B-21 test aircraft are currently in production at U.S. Air Force Plant 42 in Palmdale, California, in the engineering and production development phase. They are built using the same tools, processes and techniques that will be used to build mass-produced aircraft for years to come.
The first flight-test aircraft recently entered the ground testing phase, with public demonstrations and first flights scheduled for this year. An exact date has yet to be determined.
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Air Force officials who manage the B-21 Raider stealth bomber program provided an update on progress.
The B-21 Raider, the successor to the B-2 stealth bomber, may make its official debut within the next 12 months.
As legacy B-1 bombers are retired to make room for new aircraft, the B-21 Raider program continues to make progress through engineering and manufacturing.
Delta Air Lines confirmed an additional 12 A220-300s, bringing the airline's A220 firm order to 119 - 45 A220-100s and 74 A220-300s.
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Chromatic 3D Materials, a supplier of 3D printing materials and technologies, has passed the 14 CFR vertical burn test to demonstrate compliance with airworthy flame retardant standards.
As part of the modernization of France's military aviation assets, the French Defense Procurement Agency (DGA) has notified a consortium of Sabena technics and Thales to upgrade the avionics onboard CN-235 aircraft operated by the French Air Force. Defense contractor Northrop Grumman's first-quarter 2022 earnings topped estimates and it expects faster growth later in the year.
Chief Executive Kathy Warden said the Virginia-based manufacturer has not been materially impacted by pandemic-related headwinds that have put major supply chain strains on rivals such as Boeing. and workforce challenges.
An artist's rendering of the B-21 Raider, the long-range stealth bomber developed by Northrop Grumman for the U.S. Air Force.
Northrop Names Former Csra Exec As Cfo
Despite reporting earnings of $955 million in the first three months of 2022, down sharply from $2.1 billion in the same period a year earlier, Northrop still missed expectations for the period. Other players in the defense industry reported similar year-over-year declines.
Northrop executives expressed optimism during an earnings call on April 28, saying they were on track to meet annual revenue targets and expected sales to accelerate in the second half of 2022.
Warden is particularly optimistic about the future impact of the B-21 Raider program. The Raider is Northrop's next-generation, nuclear-capable, long-range strategic bomber being developed for the United States Air Force (USAF).
Little is known about the stealth aircraft, which is designed to breach anti-access/area-denial air defenses and deliver precision strikes with conventional or nuclear bombs.
Usaf E Northrop Grumann Aceleram Programa Do Novo Bombardeiro B 21 Raider » Força Aérea
According to Northrop leaders, the sky is the limit for Raider's plans. During an earnings call on April 28, Chief Financial Officer David Keffer revealed that the company received $67 million in incentive payments from the U.S. government related to performance on the program.
He also noted that, for the first time, the Biden administration's fiscal year 2023 defense budget proposal calls for funding for B-21 acquisition rather than research and development.
The first B-21 is currently undergoing ground testing by the U.S. Air Force, with test flights expected to follow, Worden said. Five other test aircraft are in various stages of development.
The B-21 is expected to enter limited production next year. During this period, the government will purchase private jets at a price determined in the agreement. When the program finally enters full-scale production, Northrop and the Air Force will negotiate a final unit price for the B-21.
Northrop Grumman B 21
The new stealth bomber is a key pillar of Northrop's defense business strategy, and officials expect "substantial funding" for the program in the coming years, but Worden noted that specific details of the acquisition plan remain classified.
The B-21 represents an offshoot of what the U.S. calls bombers, submarines and land-based ballistic missiles -- all of which are capable of delivering a nuclear strike. Northrop has also been awarded a contract to develop a next-generation land-based intercontinental ballistic missile (ICBM) for the U.S. Air Force, which will replace the long-range Minuteman III ICBM.
The company expects to see significant gains from various roles in the production of Lockheed Martin's F-35 Joint Strike Fighter and in the sale of the E-2D Hawkeye airborne command and control aircraft.
Northrop said the E-2 program's revenue beyond 2025 will depend on foreign sales, but he noted that there is already strong interest overseas.
Northrop Grumman: The Premium Valuation Is Here To Stay (nyse:noc)
Correction: Changed June 10 story to remove incorrect dates for B-21 production and initial operational capability. Another Northrop Grumman program, the Ground-Based Strategic Deterrent, is due to enter production in 2026, while the IOC is expected to enter production in 2029.
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