Northrop Grumman's X-47B Drone Could Be Reborn As a Navy Air Tanker
Two years ago, the U.S. Navy made a ridiculously unforced error. This year, Northrop Grumman (NYSE: NOC) is going to try to help them fix it.
In 2013, Northrop Grumman's X-47B unmanned aerial vehicle became the first "drone" fighter jet to both launch from and land on an aircraft carrier deck. Over the ensuing two years, X-47B successfully completed 37 landings aboard U.S. aircraft carriers, "and multiple catapult launches, arrested landings, and planned autonomous wave-offs." The wind was at Northrop's back, and it was well on its way to inventing a drone air wing for the Navy.
This all ended in 2015 when the U.S. Navy decided to cancel the X-47B program and retire its two X-47B prototypes -- despite the airframes still having 80% of their expected service life ahead of them. After spending $744 million in taxpayer dollars on the X-47B's development, the Navy was going to simply put the plane on mothballs.
Source: Fool.com
Boeing Co. Stock
Our community is currently high on Boeing Co. with 30 Buy predictions and 5 Sell predictions.
As a result the target price of 233 € shows a positive potential of 39.49% compared to the current price of 167.04 € for Boeing Co..
