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General Dynamics Electric Boat awarded $1 billion contract modification for long lead time material for Virginia-class submarines
GMGM(GM) Prnewswire·2025-03-25 22:16

Core Insights - General Dynamics Electric Boat has been awarded a 1billionundefinitizedcontractmodificationforpurchasinglongleadtimematerialsforVirginiaClassBlockVIsubmarines[1][2]−Thecontractmodificationsignalstheneedforthesubmarineindustrialbasetoinvestincapacityandmaterialstomeetincreasedproductiondemands[2]−Virginia−classsubmarinesaredesignedforawiderangeof21st−centurymissionrequirements,includinganti−submarinewarfareandspecialoperationssupport[2]CompanyOverview−GeneralDynamicsElectricBoatdesigns,builds,repairs,andmodernizesnuclearsubmarinesfortheU.S.NavyandisheadquarteredinGroton,Connecticut,employingover24,000people[3]−GeneralDynamics,theparentcompany,isaglobalaerospaceanddefensefirmwithover110,000employeesandgenerated1 billion undefinitized contract modification for purchasing long lead time materials for Virginia Class Block VI submarines [1][2] - The contract modification signals the need for the submarine industrial base to invest in capacity and materials to meet increased production demands [2] - Virginia-class submarines are designed for a wide range of 21st-century mission requirements, including anti-submarine warfare and special operations support [2] Company Overview - General Dynamics Electric Boat designs, builds, repairs, and modernizes nuclear submarines for the U.S. Navy and is headquartered in Groton, Connecticut, employing over 24,000 people [3] - General Dynamics, the parent company, is a global aerospace and defense firm with over 110,000 employees and generated 47.7 billion in revenue in 2024 [4]