Leonardo DRS Receives Over $1Bn to Support US Navy's Columbia-Class Submarine Program

Leonardo DRS, Inc. (NASDAQ: DRS) announced today that it has been awarded contracts valued at over $1 billion, when fully funded, to provide the integrated electric propulsion components for the U.S. Navy’s next-generation Columbia-class submarine.

“This award represents our company’s dedication to the warfighter; developing innovative systems for critical next-generation national security platforms like the Columbia-class ballistic submarine,” said Leonardo DRS CEO Bill Lynn. “We are proud to be partnered with General Dynamics Electric Boat and the U.S. Navy to provide the state-of-the-art components that are at the core of this critical U.S. Navy platform.

The Columbia-class submarine is a top priority program for the U.S. Navy and will replace the fleet of Ohio-class ballistic missile submarines.

The integrated electric propulsion components will be manufactured in the company’s Fitchburg, Massachusetts, Menominee Falls, Wisconsin, and Danbury, Connecticut facilities. Additional content will be manufactured in the DRS High Ridge, Missouri facility.

Leonardo DRS is a leading provider of next-generation electrical power conversion and propulsion technology for the U.S. Navy, with major systems for next-generation submarines and surface ships. Investments in the company’s market-leading propulsion and power generation technology have created opportunities to use proven electric drive capabilities for future naval platforms. DRS solutions are leading the way in providing power flexibility to support the increased power requirements of current and future naval platforms.