Northrop, EADS Win NATO Contract

NATO gave the go-ahead for an estimated $4.8-billion contract award for ground surveillance aircraft to a consortium including Century City-based Northrop Grumman Corp. and European Aeronautic Defense & Space Co.

The winning group, dubbed the Transatlantic Industrial Proposed Solution, proposed a mix of wide-body planes and unmanned drones with interoperable ground stations.

The planes are being designed to complement the NATO alliance’s other main shared asset: a fleet of AWACS surveillance planes that primarily monitor airborne objects.

On the New York Stock Exchange, Northrop shares rose 48 cents to $100.75.

* Lockheed Martin Corp. and Northrop Grumman Corp. received a $220-million award from the Air Force to develop a space-based radar system. The companies will develop competing designs for the radar for a follow-up contract to produce and test the system, the Air Force said.