10 Best Aerospace Dividend Stocks to Buy

5. Northrop Grumman Corporation (NYSE:NOC)

Number of Hedge Fund Holders: 62

Northrop Grumman Corporation (NYSE:NOC) is among the 10 Best Aerospace Dividend Stocks to Buy. On March 5, the company announced that it would be supplying its aircraft protection system for Germany’s CH-47 Chinook helicopters.

The Common Infrared Countermeasures (CIRCM) will be installed outside the newly ordered helicopters, acting as a shield to detect and thwart incoming threats through its electro-optical infrared technology. The system jams the threat’s targeting signal by shooting a higher-performance laser at it, causing it to lose lock.

Over 700 CIRCM have so far been deployed on rotary wing aircraft across the world. The expansion of the system to Germany will not only enhance the capabilities of its CH-47 Chinook helicopters but will also help in broadening its presence in Europe.

In other news, last month, Northrop Grumman Corporation (NYSE:NOC) announced that it was fast-tracking the production capacity of the B-21 Raider. The company said that it had invested over $5 billion in manufacturing and digital engineering, which would ensure faster production of the stealth bomber. The first aircraft is scheduled for delivery in 2027.

Northrop Grumman Corporation (NYSE:NOC) is one of the world’s largest defense contractors. It is engaged in the design, development, integration, and maintenance of advanced systems across aeronautics, space, defense electronics, and mission solutions.