Northrop Grumman wins $475 million missile contract from DoW

Investing.com - Northrop Grumman Systems Corp. (NYSE: NOC) received a $475.3 million contract modification from the U.S. Department of War, increasing the total value of its Prototype Project Other Transaction Agreement to $1.31 billion from $832.8 million.

The Missile Defense Agency awarded the modification on April 3 under its authority through 10 U.S. Code 4022(a)(2)(B). The original agreement was designated HQ0851-22-9-0002.

Northrop Grumman will continue developing and defining its Glide Phase Interceptor design concept with an accelerated schedule. The estimated completion date for the work is June 2028.

The government obligated $174.1 million at the time of award from funds authorized under Section 20003 of Public Law 119-21. The Missile Defense Agency in Dahlgren, Virginia, serves as the contracting activity.

The Glide Phase Interceptor program aims to develop defense systems capable of intercepting hypersonic threats during their glide phase of flight.

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