GD EB Awarded $967M Contract Modification for Virginia-Class Submarines

General Dynamics Electric Boat, a business unit of General Dynamics (NYSE: GD), announced today it has been awarded a $967 million contract modification from the U.S. Navy for Lead Yard Support and Development and Design efforts for Virginia-class fast-attack submarines.

The cost-plus-fixed fee modification to a previously awarded contract totals $967,185,528. Work will be performed in Groton, Connecticut; McLeansville, North Carolina; Newport News, Virginia; and Newport and Quonset Point, Rhode Island. Work is expected to be completed by October 2024. This contract was awarded on September 29. 2023.

"This contract award supports critical work to further advance the capability and superiority of the Virginia class submarine," said Kevin Graney, president of General Dynamics Electric Boat. "We are proud to continue our tradition of delivering this state-of the-art platform that ensures the safety of our sailors and their continued dominance in the undersea domain."

Virginia-class submarines are designed for the full range of 21st-century mission requirements, including anti-submarine and surface ship warfare and special operations support.

General Dynamics Electric Boat is the prime contractor and lead design yard for the Virginia class and constructs the ships in a teaming arrangement with HII's Newport News Shipbuilding in Virginia.