Northrop Grumman Corporation – Defense Stocks Of 2021
When it comes to aerospace and defense companies, Northrop Grumman is among the leading players in the industry. It achieved more than $35 billion in sales in 2020. The company is based in the US but has a global presence. With an employee strength of 90,000, the company is well-established and has a strong track record of dealing in government contracts and catering to private entities. Its main business segments are aeronautics, missile systems, space defense, and other advanced defense systems. The company’s prospects appear to be bright as it had a backlog of over $80 billion in 2020. The defense sector, in general, is a stable one where the demand does not fluctuate much. If you are among those investors that want to buy defense stocks right now, then you may want to look closely at companies like Northrop Grumman.
Northrop Grumman Business Sectors And Products
One of the most well-known products that Northrop Grumman is involved in is the F-35 fighter aircraft. Recently, the aircraft was in the news as one had crashed in the Mediterranean sea. The aeronautics segment of Northrop Grumman is based out of California. It deals in aircraft and surveillance systems. These include the stealth B2 bomber. The defense systems segment of Northrop Grumman deals in missiles and other propulsion-based systems. The mission systems segment involves using sensor-based systems to offer navigational and information solutions. And finally, the space systems segment deals in launch vehicles, missile defense systems, space exploration, and the development of space components. Northrop Grumman has a well-rounded portfolio of products that covers a wide range of defense areas. Therefore, the company is among the defense stocks of 2021 that one should watch closely.
Buy Defense Stocks Right Now
Northrop Grumman does business primarily in the US. The price of its stock has risen from around $55 in 2011 to $363 in December 2021. Over the last 3 or 4 years, the price has ranged between $250 to $370. In December 2021, the stock was up 5% and has been on an uptrend in the very short term.