PLYMOUTH, Minn. – Northrop Grumman Corporation (NYSE: NYSE:NOC), a major defense contractor, has unveiled a new medium-caliber chain gun with dual-feed capabilities, the M230 Link Fed (M230LF) Dual Feed Bushmaster® Chain Gun®. This innovation allows operators to switch between two types of ammunition quickly, enhancing flexibility and response to threats.
The M230LF, a 30x113mm caliber weapon, is designed to counter both uncrewed aerial systems (C-UAS) and ground targets. Its dual-feed mechanism eliminates the need for mixed ammunition belts, providing the option to select between XM1211 proximity fuzed rounds for C-UAS and XM1198 high explosive, dual-purpose rounds for anti-armor scenarios.
Currently at Technology Readiness Level 6, the M230LF is expected to participate in live fire demonstrations scheduled for early 2025. This level of readiness indicates that the technology is mature enough for such testing.
Dave Fine, vice president of armament systems at Northrop Grumman, stated, “The M230LF Dual Feed Bushmaster Chain Gun offers new flexibility by switching between ammunition paths using dual-feed technology. Using advanced technology combined with five decades of battle-proven experience, this next-generation cannon will empower operators to quickly respond to threats.”
The dual-feed system is a first for medium caliber chain guns and is intended to deliver increased mission flexibility and lethality. It allows for quick adaptation to different target types, saving time and reducing logistical burdens. The new chain gun maintains a similar weight to the single feed M230LF and shares 60% of its parts, facilitating quicker repairs and less maintenance downtime.
Northrop Grumman continues to produce single feed M230LF cannons for customers with that preference. This latest development in the Bushmaster line is part of the company's efforts to provide adaptable solutions to address the evolving threat landscape.
The company's commitment to equipping customers with advanced capabilities for defense and exploration is part of its broader mission to connect and protect the world. This press release statement provides the source of the information reported.
In other recent news, Northrop Grumman Corporation has been making notable strides in its defense collaborations, contracts, and technological advancements. The company has introduced an artificial intelligence feature to its Forward Area Air Defense system, aimed at enhancing decision-making in combat situations. Northrop Grumman has also expanded its defense collaboration with Danish company Terma, focusing on areas such as uncrewed aerial systems and missile defense. A $161 million contract for the production and delivery of JCREW/DRAKE 2.0 systems, an advanced electronic countermeasure technology, was secured from the U.S. Navy.
Furthermore, the U.S. Missile Defense Agency selected Northrop Grumman to advance the development of the Glide Phase Interceptor, a system designed to neutralize hypersonic missile threats. The company also successfully demonstrated a new hybrid satellite communications system, contributing to resilient connectivity for U.S. defense operations. In collaboration with the Lithuanian government, Northrop Grumman has signed a Memorandum of Understanding to support the Baltic nation's defense industry.
In terms of financial performance, Northrop Grumman is set to release its third-quarter 2024 financial results later this year. Analyst firm TD Cowen has maintained a Hold rating on Northrop Grumman, while Deutsche Bank has upgraded the stock from Hold to Buy. These are all recent developments in Northrop Grumman's operations and financial status.
InvestingPro Insights
Northrop Grumman's latest innovation in defense technology aligns well with its strong market position and financial performance. According to InvestingPro data, the company boasts a substantial market capitalization of $77.5 billion, reflecting its prominence in the Aerospace & Defense industry. The company's revenue growth of 7.61% over the last twelve months and 6.7% in the most recent quarter underscores its ability to capitalize on defense sector opportunities.
InvestingPro Tips highlight Northrop Grumman's commitment to shareholder value, having raised its dividend for 20 consecutive years and maintained payments for 54 years. This consistency in dividend growth, coupled with a current dividend yield of 1.55%, may appeal to income-focused investors. The company's strong return of 26.2% over the last three months also indicates positive market sentiment, possibly influenced by innovations like the M230LF Dual Feed Bushmaster Chain Gun.
For investors seeking more comprehensive analysis, InvestingPro offers 12 additional tips for Northrop Grumman, providing deeper insights into the company's financial health and market position.
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