HII announced today that its Newport News Shipbuilding division has received a $305.2 million contract modification from General Dynamics Electric Boat to procure long-lead-time material for two additional Block V Virginia-class submarines. The contract modification brings the overall contract value to $10.2 billion. NNS is one of only two shipyards capable of designing and building nuclear-powered submarines for the U.S. Navy. The advanced capabilities of Virginia-class submarines increase firepower, maneuverability and stealth.
“These funds are critically important to stabilizing and providing predictability to the thousands of suppliers across the country who support the Virginia-class program. The submarine industrial base is crucial to our shipbuilding success and we look forward to continuing to build these vital national security assets that will deliver to the U.S. Navy with the latest technology,” said Jason Ward, NNS vice president of Virginia-class submarine construction.
HII Corporate, formerly Huntington Ingalls Industries, Inc., is the largest military shipbuilding company in the United States as well as a provider of professional services to partners in government and industry. HII, ranked No. 371 on the Fortune 500, was formed on 31 March 2011, as a spin-off of Northrop Grumman. HII comprises three divisions: Newport News Shipbuilding, Ingalls Shipbuilding, and Mission Technologies. HII’s Newport News and Ingalls Shipbuilding divisions in Virginia and Mississippi, respectively, have built more ships in more ship classes than any other U.S. naval shipbuilder. Headquartered in Virginia, HII’s workforce is 43,000 strong. In April 2022, Huntington Ingalls Industries, changed its branding name to HII.