Northrop Grumman notes $477 million loss as it manages higher B-21 programme costs
The B-21 Raider stealth bomber programme is expected to launch in the late-2020s. (Photo: USAF / Giancarlo Casem, 412th Test Wing )
Northrop Grumman posted a mixed set of Q1 results, as the company sought to manage higher production and manufacturing costs on its B-21 Raider programme, despite achieving a new record backlog of US$92.8 billion.
The $477 million pretax loss, the company said, was the result of a change to enable higher production rates and cover the increase in material costs for the B-21 programme, reducing risk as it scales up.
The decision to make this process change and thus incur the loss, the company added, was made jointly with the USAF.
Commenting on the Q1 results, Northrop Grumman CEO Kathy J
Already have an account? Log in
Want to keep reading this article?
More from Air Warfare
-
What lessons could Europe learn from air power use in Ukraine?
The use of air power by both sides in the ongoing conflict has been extensively focused on, influencing policy and procurement around the world. But are the lessons from the front line universally applicable, or should other nations be planning for very different scenarios?
-
Baykar completes Piaggio Aerospace takeover with plans to boost drone production
The takeover of the Italian firm by Baykar solidifies the company’s efforts to forge closer ties with Italian industry, bolsters its partnership with Leonardo to produce UAVs and secures its foothold in Europe.
-
Leonardo’s Proteus structural tests “nearing completion” ahead of first flight
The company has tested over 15 mission sets for the drone, with the rotorcraft used to demonstrate the viability of armed forces utilising large uncrewed aerial systems’ (UAS) for autonomous missions in the future.