Northrop Grumman expects first of 5 B-21 stealth bomber orders from Air Force in 2023
Aerospace and defense company posted better-than-expected earnings on Thursday
Northrop Grumman said it expects the U.S. Air Force's first of five initial production orders for the B-21 Raider in 2023.
CEO Kathy Warden said during the company's earnings call the aircraft’s cost was below the government’s independent estimate, while also highlighting the B-21’s unmatched range, stealth and survivability.
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Northrop Grumman unveils the B-21 Raider, a new high-tech stealth bomber developed for the U.S. Air Force, during an event in Palmdale, California, U.S., December 2, 2022. REUTERS/David Swanson (Reuters/David Swanson / Reuters Photos)
"It will be "the backbone of future U.S. air power for decades to come," she added.
Introduced in December 2022 and named in honor of the Doolittle Raid of World War II, the B-21 is a digital stealth bomber utilizing agile software development, advanced manufacturing techniques and digital engineering tools to help mitigate production risk.
Northrop Grumman unveils the B-21 Raider, a new high-tech stealth bomber developed for the U.S. Air Force, during an event in Palmdale, California, U.S., December 2, 2022. REUTERS/David Swanson (Reuters/David Swanson / Reuters Photos)
According to Northrop Grumman, the B-21 will not undergo block upgrades like earlier generation aircraft, as new technology, capabilities, and weapons can be seamlessly incorporated through agile software upgrades and built-in hardware flexibility.
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The aircraft was also outfitted with long-range precision strike capabilities, cloud technology, and the ability to use a broad mix of stand-off and direct-attack munitions.
Northrop Grumman unveils the B-21 Raider, a new high-tech stealth bomber developed for the U.S. Air Force, during an event in Palmdale, California, U.S., December 2, 2022. REUTERS/David Swanson (Reuters/David Swanson / Reuters Photos)
For three months ending on Dec. 31, 2022, Northrop Grumman posted revenue of $10.03 billion and earnings of $2.08 billion.
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On the year, the defense company reported $4.9 billion in profit, or $31.47 per share, while revenue peaked at 36.6 billion.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| NOC | NORTHROP GRUMMAN CORP. | 484.75 | -2.84 | -0.58% |