Northrop Grumman Awarded Contract to Develop New Submarine Technology

Northrop Grumman Corporation (NYSE: NOC) was awarded funding by the U.S. Navy for research and development of advanced technologies for current and future submarines.

Northrop Grumman’s Newport News sector is the prime contractor for the work, which is valued at approximately $16.9 million. An additional $5 million funding option could also be awarded in the next 12 months.