Northrop Grumman (NOC) was awarded five, one-year, firm-fixed-price options under the active R&D Prototype Other Transaction Authority, or OTA, agreement with a value of $540.92M. This is an increase in dollar value of the current agreement from $291.86M to $832.78M. The R&D OTA agreement was competitively awarded through The Missile Defense Agency’s, or MDA, authority under 10 U.S. Code4022. This effort is in accordance with MDA Press Release: 24-NEWS-0009 for Northrop Grumman to continue performance under their existing OTA agreement. Under this award, the performer will further develop and define its Glide Phase Interceptor design concept. The work will be performed in Chandler, Arizona, with an estimated completion date of November 2029. FY25 research, development, test and evaluation funds in the amount of $24.64M are being obligated at the time of award. MDA is the contracting activity.
Don't Miss out on Research Tools:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NOC:
- Lockheed Martin (LMT) Stock Rises on Reports of Taiwan Defense Purchase
- Northrop Grumman awarded $167.93M Navy contract modification
- Northrop Grumman price target raised to $550 from $500 at Barclays
- Jefferies aerospace & defense analysts hold analyst/industry conference call
- Northrop Grumman price target raised to $600 from $565 at BTIG