HII’s Ingalls Shipbuilding Awarded DDG(X) Design Engineering Contract

Rhea-AI Summary

HII (NYSE:HII) announced that its Ingalls Shipbuilding division received a cost-plus-incentive-fee contract to provide engineering and design for the U.S. Navy’s next-generation guided-missile destroyer (DDG(X)) program. This opportunity emphasizes collaboration with Navy and industry partners, ensuring innovative design practices from their experienced engineering team. Ingalls Shipbuilding has previously delivered 33 destroyers and continues to play a crucial role in U.S. naval capabilities.

Positive

• Awarded a cost-plus-incentive-fee contract from the U.S. Navy for the DDG(X) program, indicating strong future revenue potential.
• Ingalls Shipbuilding's experience with the Arleigh Burke-class (DDG 51) program enhances credibility for the new contract.

Negative

• None.

PASCAGOULA, Miss., July 22, 2022 (GLOBE NEWSWIRE) -- HII (NYSE:HII) announced today that its Ingalls Shipbuilding division has been awarded a cost-plus-incentive-fee contract for engineering and design from the U.S. Navy for the next-generation guided-missile destroyer (DDG(X)) program.

“We are excited to continue on this path with our Navy and industry partners,” Ingalls Shipbuilding President Kari Wilkinson said. “It provides us a tremendous opportunity to bring best practices and innovation from our experienced engineering team to the design of this important future surface combatant.”

Ingalls Shipbuilding is a major contractor and shipbuilding partner in the Arleigh Burke-class (DDG 51) program that has been in production for three decades. Arleigh Burke-class destroyers are multi-mission ships that can provide offensive and defensive capabilities, and can conduct a variety of operations, from peacetime presence and crisis management to sea control and power projection, all in support of the United States military strategy.

DDG(X) will be the next generation large surface combatant for the U.S. Navy, and is being designed by a Navy-industry collaborative team consisting of the Navy and both large surface combatant shipbuilders.

A photo accompanying this release is available at: https://hii.com/news/hiii-ingalls-shipbuilding-awarded-ddgx-design-engineering-contract.

About HII

HII is an all-domain defense and technologies partner, recognized worldwide as America’s largest shipbuilder. With a 135-year history of trusted partnerships in advancing U.S. national security, HII delivers critical capabilities ranging from the most powerful and survivable naval ships ever built, to unmanned systems, ISR and AI/ML analytics. HII leads the industry in mission-driven solutions that support and enable an all-domain force. Headquartered in Virginia, HII’s skilled workforce is 44,000 strong. For more information, please visit:

• HII on the web: https://www.hii.com/
• HII on Facebook: https://www.facebook.com/TeamHII
• HII on Twitter: https://www.twitter.com/WeAreHII
• HII on Instagram: https://www.instagram.com/WeAreHII

Contact:

Kimberly K. Aguillard
Kimberly.K.Aguillard@hii-co.com
(228) 355-5663

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/778e1bd4-c90a-4cb2-b661-6b3d574c4b90

 

FAQ

What is the significance of the contract awarded to HII for the DDG(X) program?

The contract signifies HII's ongoing collaboration with the U.S. Navy and potential for future revenue through advanced naval projects.

How will the DDG(X) impact HII's business operations?

The DDG(X) program is expected to strengthen HII's position in the naval defense sector, leading to increased contracts and business opportunities.

What is HII's history with naval shipbuilding?

HII is recognized as America's largest shipbuilder, with a 135-year history in delivering advanced naval capabilities.