Northrop Grumman wins U.S. Air Force's new bomber contract

Northrop Grumman, the world's sixth-largest defense company, has won the $55 billion contract to build the US Air Force’s next-generation Long Range Strike Bomber (LRS-B), according to DefenseNews.

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Defense Secretary Ash Carter and Air Force leadership announced Tuesday evening that Northrop beat out the team of Boeing and Lockheed Martin for the largest military aircraft deal since Lockheed Martin won the Joint Strike Fighter (JSF) more than a decade ago, DefenseNews reports.

The Air Force plans to buy 80 to 100 Long Range Strike-Bombers to replace its aging B-52s and B-1s, which the service plans to retire in the mid-2040s. The new aircraft will be significantly stealthier than the B-2, capable of carrying conventional and nuclear weapons. Initial operating capability is slated for the mid-2020s, with nuclear certification planned two years after that.

Read alsoU.S. to send more A-10 Thunderbolt II ground attack aircraft to EuropeThe target cost of each plane is $550 million in 2010 dollars.

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