HII (NYSE: HII) announced today that its Ingalls Shipbuilding division received a cost-plus-award fee contract from the U.S. Navy for follow yard support of the Navy’s Arleigh Burke-class (DDG 51) destroyer program.
This contract, which allows for the continuation of key technical management and support functions that enable coordinated production of DDGs under existing construction contracts, includes four option years with a total potential contract value of $185 million if all options are exercised.
“This is another exciting opportunity for our shipbuilders to demonstrate their versatility in handling all aspects of shipbuilding,” Ingalls Shipbuilding DDG 51 Program Manager Ben Barnett said. “We are honored to provide this support to our Navy customer and the nation’s defense.”
Key data points: The market size in 2031 = $22.4 billion, growth forecast = 2.5% annually for the next 7 years. Scroll below to get more insights. This market report covers trends, opportunities, and forecasts in the global turret system market to 2031 by platform (land, naval, and airborne), type (manned turret and unmanned turret), component (turret drive, turret control, and stabilization unit), and region (North America, Europe, Asia Pacific, and the Rest of the World)
Download free sample pagesArleigh Burke-class destroyers are highly capable, multi-mission ships and can conduct a variety of operations, from peacetime presence and crisis management to sea control and power projection. Guided missile destroyers are the backbone of the U.S. surface fleet and are capable of fighting multiple air, surface and subsurface threats simultaneously.
