Hello, Guest!
  • Monday, November 25, 2024

General Dynamics Books $2.4B Navy Contract Option for One Block V Virginia-Class Submarine

General Dynamics’ (NYSE: GD) Electric Boat subsidiary has received a potential $2.42 billion contract modification from the U.S. Navy to build one Block V Virginia-class submarine equipped with Virginia Payload Module.

Electric Boat will continue to work with Huntington Ingalls Industries‘ (NYSE: HII) Newport News Shipbuilding division on the construction of the submarine, the Department of Defense said Friday.

The modification exercises an option for one additional vessel under the multiyear Block V contract awarded to General Dynamics Electric Boat in December 2019.

Contract work will occur in Virginia, Rhode Island, California, Connecticut, Maryland, Arizona, Pennsylvania and other areas within and outside the U.S. through February 2030.

Naval Sea Systems Command will obligate approximately $2.7B in shipbuilding and conversion funds for fiscal years 2018, 2019, 2020 and 2021 at the time of award.

POC - 2021 Navy Forum
To register for this virtual forum, visit the Potomac Officers Club Events page.

Video of the Day

Related Articles

State Department Approves Proposed $2B Training Contract for AUKUS Personnel News

State Department Approves Proposed $2B Training Contract for AUKUS Personnel

The Department of State approved a proposed $2 billion sale of devices, equipment and other services to support a training program under the Australia-United Kingdom-United States, or AUKUS, trilateral security alliance for the Indo-Pacific region. The Defense Security Cooperation Agency announced Friday that the foreign military sale to the Australian government will be fulfilled by

HII Technical Solutions Now Operates as Mission Technologies; Andy Green, Todd Borkey Quoted News

HII Technical Solutions Now Operates as Mission Technologies; Andy Green, Todd Borkey Quoted

Huntington Ingalls Industries, which now operates as HII (NYSE: HII) as part of a rebranding effort, changed the name of its Technical Solutions division to Mission Technologies after a series of acquisitions and the expansion of its national security capabilities. Andy Green, an executive vice president of HII, will serve as president of HII’s Mission

Navy Selects HII’s Remus 300 as Next-Gen Small UUV Program of Record; Andy Green Quoted Contract Awards

Navy Selects HII’s Remus 300 as Next-Gen Small UUV Program of Record; Andy Green Quoted

The U.S. Navy has selected the Remus 300 unmanned underwater vehicle from Huntington Ingalls Industries (NYSE: HII) as the military service’s next generation small UUV program of record. HII photo The branch made the selection after a rapid prototyping initiative that ran for two years and will move the Lionfish SUUV program forward with UUV