Northrop Grumman Space Systems FY 2021

In FY 2021 space systems manufacturer Northrop Grumman Corp. (NGC)’s Space Systems division reported:

• NGC Space Systems led the company in sales increases for the year. Full year Space Systems Division ended FY 2021 with $10.6 billion in sales, up 21% from the 2020 total, which was itself a record year that represented an 18% jump from 2019.
• Northrop Grumman attributed the increase in Space sales in 2021 to higher sales in the  Launch and Strategic Missiles and Space business areas. Space sales were driven by higher volume on restricted programs and increases on Artemis and Next Generation Overhead Persistent Infrared (Next Gen OPIR).
• NGC’s Space FY 2021 operating income increased $228 million, or 26% due to higher sales and a higher operating margin rate.
• Big Q4 contract win for NGC — $3.2 billion to build boosters for NASA’s Space Launch System (SLS) rocket to support nine SLS flights.
• Northrop Grumman CEO Kathy Warden: The Space business is expected to grow by about $1 billion in 2022, and guidance projects sales in the mid-$11 billion range in the coming year.
• NGC’s overall total sales volume of $35.7 billion in 2021 was down 3% compared to 2020. The company said 2021 sales decreased due to a reduction in sales related to the IT divestiture.