Northrop Grumman’s business overview
Northrop Grumman Corporation (NOC) is a global security company that, according to its website, provides “innovative systems, products, and solutions in unmanned systems, cyber security, C4ISR, and logistics and modernization to government and commercial customers worldwide.”
The company was established in 1939 by John K. “Jack” Northrop, in Hawthorne, California. The following year, the company’s first aircraft, the N-3PB patrol bomber, was built for the Norwegian Air Force. After that, the company grew and expanded its offerings, acquiring a number of other companies, as the timeline above shows.
Today’s Northrop Grumman is a result of the successful integration of more than 20 marquee companies. It has grown into an enterprise that covers the entire battle-space spectrum, from undersea, to outer space, and into cyberspace.
The company’s prime customer is the US government. It does business with departments such as the Department of Defense and the intelligence community. It also caters to various foreign governments and both local and international commercial companies.
Northrop Grumman Corporation primarily operates in four business segments:
- Aerospace Systems
- Electronic Systems
- Information Systems
- Technical Services
Northrop Grumman (NOC) is a key player in the US aerospace and defense industry and makes up 1.83% of the Industrial Select Sector SPDR (XLI). It faces competition from other companies such as Lockheed Martin (LMT), General Dynamics (GD), Raytheon Company (RTN), Rockwell Collins (COL), and Textron (TXT), among others.
Northrop Grumman enjoys a healthy market share among its competitors and is ranked among the top ten defense contractors in the US.
In our next article, we’ll look at the company’s financial performance.