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General Dynamics Electric Boat awarded $313.9 million contract modification by U.S. Navy for Columbia-class submarines

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General Dynamics Electric Boat has secured a $313.9 million modification to the Columbia Integrated Product and Process Contract from the Naval Sea Systems Command. This funding will enhance the Columbia-class fleet ballistic missile submarines and support the UK Strategic Weapon System kits. The Columbia-class submarines, measuring 560 feet and displacing nearly 21,000 tons, will be the largest submarines ever built by the US, with the lead ship expected to be delivered in 2027. General Dynamics continues to ramp up production capabilities amid increasing demand.

Positive
  • Awarded a contract modification worth $313.9 million to support submarine industrial base development.
  • Continued commitment to the Columbia program, a top Navy acquisition priority.
  • Largest submarines ever built in the US, enhancing naval capabilities.
Negative
  • None.

GROTON, Conn., May 19, 2022 /PRNewswire/ -- General Dynamics Electric Boat, a business unit of General Dynamics (NYSE: GD), announced today it was awarded a modification to the previously awarded Columbia Integrated Product and Process Contract by the Naval Sea Systems Command. The modification has a total value of $313.9 million.

The contract modification will support submarine industrial base development and expansion for the construction of the Columbia-class fleet ballistic missile submarines as well as additional support for the manufacturing, procurement and delivery efforts for United Kingdom Strategic Weapon Support System kits.

"Ballistic-missile submarines are the critical, survivable leg of our nation's nuclear arsenal and Columbia is the Navy's top acquisition priority," said Kevin Graney, president of General Dynamics Electric Boat. "We are grateful for the steadfast trust and support the Navy and Congress have in Electric Boat as we continue the work we began 15 years ago to deliver Columbia and the next 60 years of deterrence for our nation."

Electric Boat will continue to work with its vendors and sub-contractors to optimize efforts to ramp up production capability and support the increased demand associated with the Columbia program.

At 560-feet long with a displacement of nearly 21,000 tons, the submarines of the Columbia class will be the largest ever built by the United States. The Columbia will have a life-of the-ship fuel core that will power the submarine for its entire service life, eliminating the need for a mid-service refueling and increasing the time the ship can spend on deployment. Electric Boat will deliver the lead ship to the Navy in 2027.

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 100,000 people worldwide and generated $38.5 billion in revenue in 2021. More information is available at www.gd.com

General Dynamics Electric Boat was awarded a modification to the previously awarded Columbia Integrated Product and Process Contract by the Naval Sea Systems Command. (Rendering of Columbia-class submarine.)

 

 

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SOURCE General Dynamics Electric Boat

FAQ

What is the value of the contract modification awarded to General Dynamics Electric Boat on May 19, 2022?

The contract modification is valued at $313.9 million.

What is the purpose of the $313.9 million contract modification for General Dynamics Electric Boat?

It supports the development and expansion of the Columbia-class fleet ballistic missile submarines.

When is the lead ship of the Columbia-class expected to be delivered?

The lead ship is expected to be delivered in 2027.

What are the key features of the Columbia-class submarines?

They will be 560 feet long, displacing nearly 21,000 tons, and feature a life-of-the-ship fuel core.

How does the Columbia-class submarine program impact General Dynamics' revenue?

The program is a significant contract that can enhance the revenue and market position of General Dynamics.

General Dynamics Corporation

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