Northrop's Navigation Pact for India - Analyst Blog
28 Novembre 2012 - 2:30PM
Zacks
Sperry Marine business, a unit of
Northrop Grumman Corporation (NOC), will supply
advanced shipboard navigation systems for 20 fast patrol vessels
under a contract with Indian reseller Marine Electricals Ltd. The
systems will be supplied to Indian Coast Guard.
The navigation package consists of VisionMaster Total Watch
multifunction displays, electronic chart display and information
system (ECDIS), autopilot, magnetic compass and the new NAVIGAT
3000 fibre optic gyrocompass. The pact includes spares, factory
testing and engineering support services that will be supplied for
fast patrol vessels to be built at Cochi Shipyard Ltd. India.
The company expects the delivery of navigation systems to continue
till 2015, with first delivery in late 2012.
Sperry Marine's NAVIGAT 3000 fibre optic gyrocompass has the
capability to provide all motion data that is necessary for the
faster operation of ships. It maximizes consistency and dynamic
angular rate as it delivers the full set of navigation data while
on the other hand minimizes the size, weight, noise and power
consumption.
Northrop’s integrated bridge system components will provide the
Indian Coast Guard with highly developed shipboard navigation
systems that are available today. Going forward, the company plans
to continue to deliver products that will help in securing India's
coastline.
Sperry Marine unit provides smart navigation and ship control
solutions for the international marine industry with customer
service and support in numerous locations worldwide. Besides,
Indian Navy, it has been delivering integrated bridge systems and
components to naval and coast guard vessels in several countries
around the world. In September this year, Northrop had received a
contract to supply navigation bridge equipment for a series of
39,500-dwt dry bulk cargo ships for the China Navigation Company
Pte. Ltd. Singapore, which is a deep sea shipping company of the
Swire Group.
Overall, Northrop Grumman offers a strong program portfolio
positioned to take advantage of the focus areas in the defense
space, an improving balance sheet and an ongoing share repurchase
program. Moreover, the company’s backlog is expected to see further
upside in the near future through unmanned aerial vehicle (“UAV”)
platforms, including Broad Area Maritime Surveillance (“BAMS”),
Fire Scout and Navy Unmanned Combat Air System (“UCA”).
However, these positives will be offset by apprehension regarding
defense cutbacks on high-cost platform programs, over-exposure to
the Department of Defense ("DoD") budget, cost over-runs and
reductions in the Afghanistan and Iraq operations. The company
presently retains a short-term Zacks #3 Rank (Hold) that
corresponds with our long-term Neutral recommendation on the
stock.
Falls Church, Virginia-based Northrop Grumman Corporation supplies
a broad array of products and services to the U.S. DoD, including
electronic systems, information technology, aircraft, space
technology, and systems integration services.
Some of its main competitors that are also facing the threat of
budget cuts are Lockheed Martin Corporation (LMT)
and General Dynamics Corporation (GD).
GENL DYNAMICS (GD): Free Stock Analysis Report
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NORTHROP GRUMMN (NOC): Free Stock Analysis Report
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