Northrop losses bid to work on $1.7 billion Interceptor Missile

Northrop Grumman Corp. has lost a bid to compete in a winner-take-all contest for initial development and production of a new interceptor missile intended to let U.S. forces hit long-range Iranian missiles.

Lockheed Martin Corp., of Bethesda, Maryland, Waltham, Massachusetts-based Raytheon Co., Chicago-based Boeing Co., and Los Angeles-based Northrop Grumman were competing for three Missile Defense Agency early concept contracts.

Lockheed Martin, Raytheon and Boeing were selected yesterday to continue in the program, receiving contracts of $43.3 million, $42.7 million and $41.1 million respectively.

They are proceeding through December 2013 with work to "define and assess viable and affordable missile" designs, according to the U.S. Defense Department.

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