Northrop Grumman Corp. said Tuesday that it planned to end most work on a new radar plane by May after the Air Force eliminated funding for the program, which had an estimated value of $1.5 billion through 2013.
The E-10A Multi-Sensor Command and Control Aircraft wasn't funded for fiscal 2008 and planning has begun to end efforts after the initial design review being held this week, Century City-based Northrop said.
Northrop was picked in May 2003 to lead development of the aircraft, which was planned to replace its Joint Surveillance Target Attack Radar System planes in service since 1996. The E-10A was to feature a new radar for tracking cruise missiles, as well as a new battle-management command-and-control system to provide commanders a comprehensive picture of the battlefield.
Northrop will explore options for the radar and battle management system over the next 30 days, the company said.
Shares of Northrop fell $1.08 to $72.74.