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GROTON, Conn. , April 30, 2025 /PRNewswire/ -- General Dynamics Electric Boat, a business unit of General Dynamics (NYSE: GD ), announced today it has been awarded a total of $12.4 billion in contract modifications for construction of two fiscal year 2024 Virginia-class submarines.
Additionally, the award funds investments to improve productivity at the shipyards and workforce support as detailed in the Department of Defense contract award announcement ( https://www.defense.gov/News/Contracts/Contract/Article/4170827/ ).
This contract includes options which, if exercised, would bring the cumulative value to $17.2 billion . "Over the past two years, we successfully worked with the Navy, Congress and the administration to secure funds that enable us to increase wages for the nuclear-powered vessel workforce and allow for significant additional investments in capacity, shipyard processes and systems," said Mark Rayha , president of General Dynamics Electric Boat.
"This contract modification validates the unique and important role submarines and submarine shipbuilders play in our national defense." Virginia-class submarines are designed from the keel up 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 submarine series and constructs them in a teaming arrangement with HII's Newport News Shipbuilding in Virginia .
General Dynamics Electric Boat designs, builds, repairs and modernizes nuclear submarines for the U.S. Navy.
Headquartered in Groton, Connecticut , it employs more than 24,000 people. More information about General Dynamics Electric Boat is available at www.gdeb.
com . General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. General Dynamics employs more than 110,000 people worldwide and generated $47.
7 billion in revenue in 2024. More information about General Dynamics is available at www.gd.
com . SOURCE General Dynamics.
