Fincantieri Marinette secures $3OM Navy LSM program contract

Image: Damen Shipyards

Fincantieri Marinette Marine (FMM) has been awarded a $30 million U.S. Navy contract in support of construction of four Medium Landing Ship (LSM) vessels under the Navy’s new acquisition framework.

The award supports the immediate procurement of long lead time materials and the execution of critical industrial and production‑readiness activities, enabling a start of construction as early as fourth quarter 2026. This step represents a material acceleration of the LSM program and precedes the future award of construction contracts through the Vessel Construction Manager (VCM) model, subject to applicable approvals and contractual arrangements.

The design selected for the LSM is the Damen Landing Ship Transport (LST) 100 design. In a post on X l, Secretary of the Navy Phelan announced that the Navy would “competitively award a vessel construction manager (VCM)” to oversee the LSM program.

He argued that with the VCM-model and selection of an existing design (LST-100), the Navy is “embracing commercial practices and speed” — aiming to reduce costs, avoid repeated delays, and limit the kinds of design changes that have historically complicated U.S. shipbuilding.

Fincantieri Marinette Marine say that, within the initial production phase, it is designated to build at least four vessels, reinforcing its role as a central industrial player in the program’s execution.

By adopting the VCM model, the U.S. Navy is reshaping naval shipbuilding through the application of commercial best practices, parallel production, and disciplined industrial execution. Fincantieri as that, within this context it brings a uniquely scaled industrial platform in the U.S., combining advanced shipyard infrastructure, production depth, and globally integrated technical expertise to deliver complex naval programs with certainty and momentum.

Over the past decade, Fincantieri has committed more than $800 million into its U.S. shipyards, transforming them into one of the most advanced and capable shipbuilding networks in the U.S. These investments underpin Fincantieri’s ability to support multiple naval programs concurrently and to respond rapidly to evolving operational requirements.

“This award signals a great start towards making good use of our advanced serial production capabilities and towards getting the first four of these important ships built quickly,” said George Moutafis, CEO of Fincantieri Marine Group. “The Navy, with tremendous support from the administration and Congress, has made shipbuilding and a leaner acquisition process a national priority, and we appreciate their confidence in our ability to deliver to the warfighter.”

• More on the LSM project HERE