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Overview
Huntington Ingalls Industries (HII) stands as America’s largest independent military shipbuilder with a storied legacy spanning more than a century. Renowned for its robust engineering and uncompromising quality in naval construction, HII delivers advanced shipbuilding, defense systems, and military engineering solutions. The company excels in constructing both nuclear and non-nuclear vessels, seamlessly integrating traditional shipbuilding with modern digital manufacturing methods and state-of-the-art technology.
Core Business Areas and Operations
HII operates through several well-defined segments that underscore its diverse capabilities:
- Naval Shipbuilding: With its two established divisions – the Newport News Shipbuilding and Ingalls Shipbuilding yards – HII builds an extensive array of ships. Newport News focuses on nuclear-powered vessels, including aircraft carriers and submarines, and is the sole producer of key classes like the Gerald Ford-class carriers. Ingalls Shipbuilding produces a variety of non-nuclear platforms including amphibious assault ships and destroyers.
- Mission Technologies: This segment leverages HII's engineering expertise to develop advanced unmanned systems, cyber capabilities, and IT solutions. Its innovations extend to autonomous sea vessels, advanced coatings for aerospace applications, and next-generation navigation and autonomy technologies for U.S. government agencies.
- Manufacturing and Engineering Services: In addition to shipbuilding, HII provides critical manufacturing, management, and engineering services to sectors such as nuclear energy, oil, and gas. Its capacity to innovate in material sciences and advanced production techniques demonstrates a commitment to operational excellence and technological advancement.
Technological Innovation and Capabilities
Key to HII’s success is its relentless pursuit of technological innovation. The company harnesses digital design, visual work instructions on modern computing devices, and cutting-edge manufacturing techniques to improve efficiency and precision. For example, its Mission Technologies division has propelled advancements in unmanned underwater vehicles (UUVs) and autonomous navigation systems, underlining its agility in addressing diverse defense challenges.
The company also invests in specialized labs and facilities dedicated to R&D, such as advanced materials and coatings laboratories that enhance the durability and performance of aerospace and naval assets. Through these initiatives, HII consistently integrates emerging technologies like artificial intelligence (AI), machine learning, robotics, and Big Data analytics, ensuring that its solutions remain at the forefront of military and defense innovation.
Market Position and Competitive Landscape
HII holds a distinctive place in the defense and industrial manufacturing sectors. Its unmatched experience in constructing sophisticated military vessels gives it a competitive edge in a domain that demands high precision and adherence to rigorous standards. By combining heritage with innovation, HII not only supports current national security initiatives but also reinforces the U.S. Navy’s fleet capabilities through its diversified portfolio of products and services.
Strategic partnerships, long-term contracts with the U.S. government, and its ability to integrate novel technological solutions have cemented its reputation among defense contractors. While competitors exist in specialized segments such as submarine construction or unmanned systems, HII’s comprehensive expertise across multiple high-stakes domains sets it apart as a powerhouse of industrial and military engineering.
Operational Excellence and Legacy
From its inception, HII has built more ships in various classes than any other U.S. naval shipbuilder. The company’s operational excellence is underpinned by decades of experience, a proven track record in innovative ship design, and an unwavering commitment towards national defense. Its production processes leverage a blend of traditional craftsmanship and modern technological tools, ensuring high-quality outcomes even under the most demanding circumstances.
HII’s legacy is not just measured in vessels launched but also in its continuous adaptation to new challenges. Whether it is through pioneering digital construction techniques or integrating advanced materials for enhanced performance in harsh environments, HII demonstrates a level of expertise that is indispensable in today’s rapidly evolving defense landscape.
Commitment to Quality and Expertise
At its core, HII’s mission is to deliver powerful, reliable, and innovative solutions that empower U.S. national security. The company’s emphasis on quality is evident in every phase of its operations – from initial design and engineering to unparalleled manufacturing and after-market services. Its integrated approach and precision-driven processes underscore a deep commitment to excellence, making it a trusted partner in defense and industrial manufacturing.
Summary
In summary, Huntington Ingalls Industries is not just a shipbuilder but a multifaceted industrial giant that propels the U.S. Navy forward by delivering cutting-edge technological solutions and world-class engineering services. Its extensive portfolio in military shipbuilding, coupled with advanced capabilities in unmanned systems and digital transformation, embodies a legacy of innovation and steadfast commitment to national security. By continuously embracing new technologies and honing its expertise, HII remains a cornerstone of the defense industry, committed to preserving and enhancing the capabilities of America’s armed forces.
Key Industry Keywords
Shipbuilding, Defense Systems, Military Engineering.
HII (NYSE: HII) and Ocean Aero have entered a strategic agreement to enhance unmanned maritime platforms and autonomy software solutions. The collaboration aims to improve operational reach, duration, and sensor capabilities. Duane Fotheringham, president of HII’s Unmanned Systems division, emphasized the partnership's potential to advance U.S. Armed Forces capabilities. Both companies are engaged in various global initiatives, including recent exercises in the Arabian Gulf. HII is recognized for manufacturing the REMUS underwater vehicles, while Ocean Aero developed the TRITON, an environmentally powered vehicle for ocean data collection.
HII's Newport News Shipbuilding division has enhanced its recruitment efforts through the launch of the Ray Bagley Innovation Lab, a mobile facility dedicated to training future shipbuilders. This initiative, part of the Apprentice School, offers hands-on experience across all 19 trades offered by the school. Since 2021, the lab has served as an orientation tool for new apprentices and provides K-12 students insights into shipbuilding careers. Recently dedicated in honor of Ray Bagley, a former vice president at NNS, the lab has gained financial support from HII, Verizon, and BayPort Credit Union, ensuring a new generation is equipped for success in shipbuilding.
On February 22, 2023, HII's Newport News Shipbuilding division hosted U.S. Reps. Bobby Scott, Rob Wittman, and Jen Kiggans for a tour and meeting. NNS President Jennifer Boykin highlighted the importance of congressional support for their shipbuilders. During the tour, representatives observed construction of Columbia- and Virginia-class submarines and the Gerald R. Ford-class aircraft carrier, Enterprise (CVN 80). They discussed the significance of HII's role in national defense and the shipbuilding industry's impact on the Virginia economy, emphasizing the need for bipartisan support, stable funding, and a skilled workforce.
PASCAGOULA, Miss., Feb. 16, 2023 (GLOBE NEWSWIRE) -- HII's Ingalls Shipbuilding division hosted U.S. Rep. Mike Ezell for his first official visit. During the tour, Ezell met with leadership and observed the construction of the amphibious transport dock Richard M. McCool Jr. (LPD 29). The Ingalls Shipbuilding President emphasized the significance of their work for the Navy and Coast Guard. With over 11,000 employees, Ingalls is Mississippi's largest manufacturing employer and a major economic contributor. HII's Ingalls has a long history of providing advanced ships for national defense, underscoring its critical role in U.S. military capabilities.
HII (NYSE: HII) has recognized seven employees for their achievements in STEM at the 37th Black Engineer of the Year Awards (BEYA) Conference in National Harbor, Md. Five employees received the Modern-Day Technology Leader award, including Preshus Boone and Marcus Jackson from Newport News Shipbuilding, while DeLaurence Johnson and Cliftoria Stokes earned the Science Spectrum Trailblazer award. HII President Chris Kastner emphasized the importance of diversity in driving innovation. Additionally, HII showcased its workforce training capabilities through digital shipbuilding experiences, highlighting its commitment to technological advancement.
HII (NYSE: HII) has commenced construction on the Multi-Class Submarine Production Facility at its Newport News Shipbuilding division, aimed at enhancing the production of Columbia- and Virginia-class submarines. This facility is part of a larger $1.9 billion investment by HII between 2016 and 2025, jointly funded with the Navy. The Columbia-class program, crucial for national defense, will replace the Ohio-class submarines. NNS is a primary contractor for these submarines, working alongside General Dynamics Electric Boat. The groundbreaking marks the start of a strategic project to meet the Navy's submarine needs efficiently.
HII (NYSE:HII) reported a fourth quarter 2022 revenue of $2.8 billion, a 5.0% increase from Q4 2021. For the full year, revenues were $10.7 billion, up 12.1% year-over-year, with diluted earnings per share at $14.44, up from $13.50 in 2021. Operating income for Q4 2022 was $105 million, yielding an operating margin of 3.7%. New contract awards in Q4 reached $3.2 billion, increasing total backlog to $47.1 billion. Guidance for FY23 includes shipbuilding revenue between $8.4 and $8.6 billion.
HII (NYSE: HII) will participate in Cowen’s Aerospace/Defense & Industrials Conference on February 15, 2023. The discussion with HII President and CEO Chris Kastner is scheduled for 10:45 a.m. Eastern time and will be available via webcast at ir.hii.com. HII is the largest military shipbuilder in the U.S., focusing on delivering advanced ships and comprehensive defense solutions globally. With a legacy spanning over 135 years, HII serves various domains, providing critical capabilities, including unmanned systems and cyber solutions, supported by a workforce of 43,000.
HII (NYSE: HII) has secured a $21 million recompete contract from the Defense Logistics Agency (DLA) to enhance logistics solutions for defense products and materials. The contract aims to streamline supply chains and increase operational efficiency for military services over five years. Grant Hagen, president of HII's Mission Technologies division, emphasized the importance of addressing supply chain disruptions. This award continues HII's long-standing partnership with the DLA, dating back to the 1990s, showcasing HII's expertise in defense logistics and commitment to improving military support.
HII (NYSE: HII) has declared a quarterly cash dividend of $1.24 per share, payable on March 10, 2023, to shareholders of record by the close of business on February 24, 2023. This decision reflects HII's commitment to returning value to its shareholders.
As the largest military shipbuilder in the U.S., HII has a rich history of over 135 years in advancing national security and delivering critical defense capabilities, including ships, unmanned systems, and advanced technologies. The company is headquartered in Virginia and employs around 43,000 personnel.
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