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DoD chief weapons buyer says he likely will allow bomber contract

Oct. 06, 2015 11:45 AM ETNorthrop Grumman Corporation (NOC) StockBA, LMT, NOCBy: Carl Surran, SA News Editor13 Comments
  • The top weapons buyer for the U.S. Department of Defense says he probably will soon give the Air Force permission to award the contract for the next U.S. long-range bomber because extensive preparations have indicated "we have viable bids."
  • The Air Force can proceed only after Frank Kendall, undersecretary for acquisition, technology and logistics, convenes a Defense Acquisition Board review to assess the readiness to award a contract in the competition that pits Northrop Grumman (NYSE:NOC) against a team of Boeing (NYSE:BA) and Lockheed Martin (NYSE:LMT).
  • The Long-Range Strike Bomber may cost more $800M a piece in today’s dollars when development costs are included, and a fleet of 100 is planned; the bomber, scheduled for first deployment in the mid-2020s, will be one of the Pentagon’s biggest weapons systems over the next decade.

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