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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's CEO, Chris Kastner, recently visited Hawaii to reinforce the company's commitment to national security and workforce development. Following nearly $1 billion in contract wins, HII is expanding its Mission Technologies division, which now accounts for a quarter of its revenue and showcases a $26 billion business pipeline. HII builds 70% of Navy ships at Joint Base Pearl Harbor-Hickam and is collaborating with local educational institutions to enhance skills for national defense. The company ranks 11th on Forbes’ list of America’s Best Employers for 2022.
HII's Mission Technologies division has secured a $79 million task order under the U.S. Air Force's Training Systems Acquisition III contract. This order focuses on supporting Air Mobility Command's Mobility Air Force Distributed Mission Operations (MAF DMO) for global aircrew training. The contract includes a base period and five one-year options. HII will enhance live, virtual, and constructive (LVC) training capabilities, reinforcing network connectivity and interoperability for Air Force major commands.
HII (NYSE: HII) announced a significant milestone in the construction of the Virginia-class submarine Massachusetts (SSN 798), with the completion of the pressure hull. This accomplishment marks the last major construction step before the submarine's launch. Jason Ward, vice president of Virginia-class submarine construction, emphasized the dedication of shipbuilders to deliver advanced submarines that bolster national security. The Newport News Shipbuilding division continues to invest in its workforce and facilities to deliver critical naval assets. Massachusetts is the 25th Virginia-class submarine.
HII's Newport News Shipbuilding will host the keel-laying ceremony for the Gerald R. Ford-class aircraft carrier Enterprise (CVN 80) on August 27, 2022. The event is not open to the public but will be livestreamed. Olympic gold medalists Simone Biles and Katie Ledecky are sponsors of the ship, with Ledecky attending in person. A media preview day is scheduled for August 26, providing opportunities for interviews with shipbuilding leadership and Navy officials. Enterprise will be the first digitally designed and built aircraft carrier.
HII reported second-quarter 2022 revenues of $2.7 billion, a 19.3% increase from 2021, driven by the acquisition of Alion Science and Technology and growth at Newport News Shipbuilding. Net earnings rose to $178 million or $4.44 per diluted share. Operating income was $191 million with a margin of 7.2%. Segment operating income increased to $225 million with an 8.5% margin. New contracts awarded totaled approximately $2.0 billion, resulting in a backlog of $47.2 billion.
HII (NYSE: HII) has secured a $127 million task order from the Defense Security Cooperation Agency (DSCA) for research, development, test, and evaluation of emerging technologies. This five-year contract aims to enhance system integration through advanced software and hardware capabilities, systems engineering, and analysis. The project is expected to improve efficiencies within the Security Cooperation community, aiding the DSCA in achieving milestone success and cost savings, thereby benefiting all DOD-administered Security Assistance programs.
HII (NYSE:HII) has declared a quarterly cash dividend of $1.18 per share, scheduled for payment on Sept. 9, 2022. Shareholders of record as of Aug. 26, 2022 will be eligible. This dividend reflects HII's ongoing commitment to returning value to its shareholders.
HII, a leader in national defense and technologies, is recognized as America's largest shipbuilder and employs around 44,000 people. The company is involved in delivering advanced naval vessels and technology solutions supporting U.S. national security.
HII (NYSE:HII) announced it has awarded 190 scholarships totaling over $3 million to dependent children of its employees for the 2022-2023 academic year. Over the course of this program, which spans seven years, HII has provided 1,170 scholarships benefiting more than 600 children. The scholarships support various educational pursuits, with amounts ranging from $1,500 for two-year programs to $3,000 for four-year college students. This initiative is part of HII's commitment to education and community support, reinforcing its dedication to employee families and national development.
HII (NYSE: HII) has secured the Decisive Mission Actions and Technology Services task order under a GSA contract, valued at up to $826 million. The contract encompasses technology development, integration, and operational support for the Department of Defense (DoD), with a performance period comprising a one-year base and four optional years. HII aims to enhance U.S. national security and support various military components. This award may boost HII's portfolio in defense technology services.
HII’s Mission Technologies division has secured a $44 million task order from the Department of Defense's Chief Information Officer to conduct spectrum assessments. This contract spans five years and will facilitate advancements in spectrum policy and technical assessments, enhancing military communications and intelligence operations. As a recompete win, this award underscores HII's longstanding collaboration with the DoD, with expertise in managing electromagnetic spectrum operations for over 65 years.
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