{"id":54117,"date":"2023-01-26T23:04:12","date_gmt":"2023-01-26T15:04:12","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/northrop-grumman-continues-streak-of-space-systems-growth-in-2022\/"},"modified":"2023-01-26T23:04:12","modified_gmt":"2023-01-26T15:04:12","slug":"northrop-grumman-continues-streak-of-space-systems-growth-in-2022","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/northrop-grumman-continues-streak-of-space-systems-growth-in-2022\/","title":{"rendered":"Northrop Grumman Continues Streak of Space Systems Growth in 2022"},"content":{"rendered":"<\/p>\n
\"Northrop
Northrop Grumman\u2019s headquarters. Photo: Northrop Grumman<\/figcaption><\/figure>\n<\/p>\n

Northrop Grumman<\/b> continues its streak of growth for the Space Systems segment, postings its third year in a row of double-digit growth for the segment. <\/p>\n

The company posted its full year 2022 results on Thursday, reporting total sales of $36.6 billion, up 3% compared to 2021. <\/p>\n

The Space Systems segment reported sales of $12.3 billion in 2022, up 16% over 2021 sales. Operating income for the segment was $1.2 billion, with an operating margin of 9.4%. <\/p>\n

Space Systems led the company in both sales and growth. The segment beat Aeronautics systems in sales and was the highest-earning segment in 2022.  Other than Space, only Mission Systems grew in 2022, reporting 3% growth. Aeronautics Systems and Defense Systems saw sales declines of 6% and 3%, respectively. <\/p>\n

This continues a double-digit growth streak for the Space Systems segment. Last year, Northrop grew Space Systems sales 21%, and in 2020 sales were up 18% over 2019. <\/p>\n

Within the segment, Northrop said higher sales came from both Launch & Strategic Missiles and Space. Launch & Strategic Missiles sales increased with $454 million increase on Ground-Based Strategic Deterrent (GBSD), and a $449 million increase on Next Generation Interceptor (NGI), as well as higher volume on the GEM 63 rocket motor program in support of Amazon\u2019s Project Kuiper.<\/p>\n

The Space business area saw a $320 million increase with the Space Development Agency\u2019s Tranche 1 Transport and Tracking Layer programs, higher volume on restricted programs and a $134 million increase in sales on Commercial Resupply Services (CRS) for NASA. <\/p>\n

Northrop Grumman provided guidance for 2023, expecting company-wide sales of $38 billion to $38.4 billion, and Space Systems sales in the mid-$13 billion range. <\/p>\n

\u201cThe Northrop Grumman team continues to deliver strong financial and operating performance, further positioning our company for near and long-term growth. We\u2019re providing differentiated solutions for our customers\u2019 highest priority missions, driving a strong global
\ndemand signal for our products and maintaining a healthy backlog,\u201d said Kathy Warden, chair, CEO, and president.\u201d<\/p>\n

The company\u2019s backlog stood at $78.7 billion at the end of 2022, compared to $76 billion at the end of 2021.<\/p>\n

\u201cWe expect Space Systems to remain our fastest-growing business. Sales are projected in the mid-$13 billion range, up over $1 billion from 2022 levels, with GBSD and NGI contributing nearly half of the growth, and the rest coming from our broad space portfolio,\u201d Northrop CFO Dave Keffer said on a Thursday call with investors.<\/p>\n

Correction: A previous version of this article misstated Northrop Grumman\u2019s 2020 year-over-year sales growth. <\/em><\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Northrop Grumman\u2019s headquarters. Photo: Northrop Grumman Northrop Grumman continues its streak of growth for the Space Systems segment, postings its third year in a row of double-digit growth for the segment.  The company posted its full year 2022 results on Thursday, reporting total sales of $36.6 billion, up 3% compared to 2021.  The Space Systems […]<\/p>\n","protected":false},"author":1,"featured_media":54118,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-54117","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/54117"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=54117"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/54117\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/54118"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=54117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=54117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=54117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}