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Northrop Grumman wins $3.2 billion multi-year contract from US Navy for 24 E-2D aircraft

Ciara Linnane

Northrop Grumman Corp. said Thursday it has won a $3.2 billion contract from the U.S. Navy to supply it with 24 E-2D aircraft. The contract includes an option for nin additional foreign military sales aircraft, Northrop said in a statement. The E-2D is the navy's early warning and command and control aircraft system, said the statement. "Its two-generation leap in radar technology allows the E-2D to work with ship-, air- and land-based combat systems to track and defeat air, ship and cruise missiles at extended range," it said. Northrop shares were up 0.5% in premarket trade, but have fallen 22% in the last 12 months, while the S&P 500 has gained 9%.