General Dynamics Electric Boat, a business unit of General Dynamics (NYSE: GD), announced today it was awarded a U.S. Navy contract modification for lead-yard support, development studies and design efforts related to Virginia-class attack submarines. The contract modification has a value of $532.9 million. Work will be performed in Groton, Connecticut, and Newport News, Virginia, and is expected to be completed by October 2023.
General Dynamics Electric Boat (GDEB) is a subsidiary of General Dynamics Corporation. It has been the primary builder of submarines for the United States Navy for more than 100 years. The company’s main facilities are a shipyard in Groton, Connecticut, a hull-fabrication and outfitting facility in Quonset Point, Rhode Island, and a design and engineering facility in New London, Connecticut.
“We are proud to continue to support the design and engineering of Virginia-class submarines to ensure they have the superior warfighting capabilities the U.S. Navy needs to defend our Nation,” said Kevin Graney, president of Electric Boat. “The continued evolution of the Virginia class over the last two decades guarantees our sailors the asymmetric advantage they deserve.”
General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 100,000 people worldwide and generated $38.5 billion in revenue in 2021.