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General Dynamics Electric Boat Awarded $12 Billion Contract Modification for Virginia-Class Submarines
GDGeneral Dynamics(GD) Prnewswire·2025-04-30 21:43

Core Viewpoint - General Dynamics Electric Boat has been awarded 12.4billionincontractmodificationsfortheconstructionoftwoVirginia−classsubmarines,withpotentialcumulativevaluereaching12.4 billion in contract modifications for the construction of two Virginia-class submarines, with potential cumulative value reaching 17.2 billion if options are exercised [1][3] Group 1: Contract Details - The contract modifications include funding for productivity improvements at shipyards and workforce support [1] - The total contract value could increase to 17.2billionifalloptionsareexercised[1]Group2:CompanyandIndustryRole−GeneralDynamicsElectricBoatistheprimecontractorandleaddesignyardfortheVirginia−classsubmarineseries,collaboratingwithHII′sNewportNewsShipbuilding[3]−TheVirginia−classsubmarinesaredesignedforafullrangeof21st−centurymissionrequirements,includinganti−submarinewarfareandspecialoperationssupport[3]−GeneralDynamicsElectricBoatemploysover24,000peopleandisheadquarteredinGroton,Connecticut[4]Group3:CompanyOverview−GeneralDynamicsisaglobalaerospaceanddefensecompanywithadiverseportfolio,generating17.2 billion if all options are exercised [1] Group 2: Company and Industry Role - General Dynamics Electric Boat is the prime contractor and lead design yard for the Virginia-class submarine series, collaborating with HII's Newport News Shipbuilding [3] - The Virginia-class submarines are designed for a full range of 21st-century mission requirements, including anti-submarine warfare and special operations support [3] - General Dynamics Electric Boat employs over 24,000 people and is headquartered in Groton, Connecticut [4] Group 3: Company Overview - General Dynamics is a global aerospace and defense company with a diverse portfolio, generating 47.7 billion in revenue in 2024 and employing over 110,000 people worldwide [5]