Northrop, BAE Systems drop out of race for U.S. Air Force program

(Reuters) - U.S. weapons maker Northrop Grumman Corp (NOC.N) said it along with its principal teammate British defense company BAE Systems (BAES.L) have decided not to submit a proposal for the U.S. Air Force's $16 billion T-X Trainer program.

The companies had examined the requirements and acquisition strategy for the pilot training program and decided that it was not in the best interests of their shareholders, Northrop said.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Martina D'Couto)