GD Electric Boat awarded $642M for Virginia-class submarine work

Photo: General Dynamics Electric Boat.

General Dynamics Electric Boat, a business unit of General Dynamics (NYSE: GD), reports that it has been awarded a $642 million contract modification to a previously awarded contract supporting submarine production. This modification is for a cost-plus-fixed-fee modification to a previously awarded contract (N00024-20-C-2120) for lead yard support and development studies and design efforts related to Virginia-class submarines, as detailed in the U.S. Department of War contract award notice, which notes that work will be performed in Groton, Conn,. (94%); McLeansville, N.C., (3%); Newport News, Va., (2%); and Newport, and Quonset, R.I., (1%), and is expected to be completed by April 2026.

“This contract modification supports our efforts to deliver the submarines our Navy needs as quickly as possible,” said Mark Rayha, president of General Dynamics Electric Boat. “This funding allows us to continue our design and development efforts in order to sustain and extend our nation’s operational overmatch against any potential adversaries. With the support of the administration, the Navy and Congress, we are prepared to deliver the advantage to protect our sailors, our families and our freedom.”

The Virginia class is the U.S. Navy’s latest class of advanced capability nuclear-powered fast-attack submarines, replacing the aging fleet of Los Angeles-class attack submarines. Electric Boat and partner Huntington-Ingalls Newport News Shipbuilding (HII-NNS) share construction of Virginia-class submarines in a teaming agreement, and together have delivered 22 Virginia-class ships since 2004