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Overview of Huntington Ingalls Industries (HII)
Huntington Ingalls Industries, Inc. (HII) is the largest military shipbuilding company in the United States and a leading provider of advanced defense technologies. Headquartered in Newport News, Virginia, HII has a rich legacy of over 135 years, serving as a cornerstone of U.S. national security. The company operates through three primary divisions: Ingalls Shipbuilding, Newport News Shipbuilding, and Mission Technologies, each contributing to its diverse portfolio of capabilities.
Core Business Areas
- Shipbuilding: HII's Ingalls and Newport News divisions are pivotal to its operations. Ingalls specializes in non-nuclear-powered ships, including amphibious assault ships and destroyers, while Newport News is the sole builder of nuclear-powered aircraft carriers and a major subcontractor for nuclear submarines. These shipyards have built more ship classes for the U.S. Navy than any other shipbuilder, cementing HII's role as a strategic partner in national defense.
- Mission Technologies: This division focuses on cutting-edge solutions in unmanned systems, artificial intelligence (AI), machine learning (ML), cybersecurity, and intelligence, surveillance, and reconnaissance (ISR). It also provides IT and engineering services to various U.S. government agencies, including the Department of Defense (DoD).
- Advanced Manufacturing and Engineering: HII leverages its expertise in nuclear engineering and advanced materials to support projects in aerospace, energy, and other high-tech industries. Recent investments, such as the Advanced Materials and Coatings Lab, underscore its commitment to innovation.
Competitive Landscape and Market Position
HII operates in a highly competitive defense sector, where it collaborates and competes with companies like General Dynamics. Its unique capabilities, such as being the sole producer of Gerald R. Ford-class aircraft carriers and its expertise in nuclear-powered vessels, provide a significant competitive edge. Additionally, its Mission Technologies division enables diversification beyond traditional shipbuilding, positioning HII as a comprehensive defense solutions provider.
Revenue Streams and Business Model
HII generates revenue primarily through long-term contracts with the U.S. government, including the Navy and other defense agencies. Its shipbuilding contracts often span multiple years, involving complex, high-value projects. The Mission Technologies division adds a recurring revenue stream through IT services, data analytics, and unmanned systems, enhancing its financial stability.
Challenges and Strategic Initiatives
HII faces challenges such as labor inefficiencies, supply chain disruptions, and the need to modernize legacy systems. To address these, the company has invested in digital transformation, workforce development, and advanced manufacturing capabilities. Initiatives like the digital design and construction of aircraft carriers and the acquisition of advanced manufacturing facilities in South Carolina highlight its proactive approach to overcoming industry hurdles.
Significance in the Defense Ecosystem
HII plays a critical role in ensuring U.S. military readiness. Its contributions extend beyond shipbuilding to include advanced technologies that support multi-domain operations. By delivering innovative solutions in unmanned systems, cyber defense, and synthetic training, HII enhances the operational capabilities of the U.S. armed forces.
Conclusion
Huntington Ingalls Industries is more than a shipbuilder; it is a diversified defense contractor with a strategic focus on innovation and national security. Its extensive experience, technological expertise, and commitment to excellence make it an indispensable partner to the U.S. government and a key player in the global defense industry.
Huntington Ingalls Industries (NYSE:HII) has received approval from the State Council of Higher Education for Virginia to operate The Apprentice School as a degree-granting institution. This certification enables the school to offer associates of applied science degrees across 26 disciplines, including maintenance electrician and marine designer. This milestone enhances the school's commitment to workforce development in response to the increasing demand for skilled workers. Final approval for specific programs is anticipated later this year, following an extensive evaluation process.
Huntington Ingalls Industries (HII) has joined the Virginia Ready Initiative to assist unemployed Virginians in finding work swiftly. This initiative addresses the significant unemployment caused by COVID-19, focusing on developing skills for high-demand jobs in manufacturing and other sectors. HII's support includes financial backing for training programs and facilitating job opportunities for participants. Over 800,000 Virginians have filed for unemployment since the pandemic began, highlighting the urgent need for workforce development. HII aims to help revitalize the local economy through skill development and job placement.
Huntington Ingalls Industries (NYSE:HII) announces its second quarter 2020 financial results release scheduled for August 6, 2020, at 9 a.m. ET. An earnings conference call will follow, accessible via the company’s website. HII remains the largest military shipbuilding firm in the U.S., with over 42,000 employees. The company's divisions have a legacy of building ships across numerous categories, supporting both domestic and international defense initiatives.
Huntington Ingalls Industries (HII) has secured a $936 million contract for constructing an additional Arleigh Burke-class destroyer for the U.S. Navy. This follows a previous $5.1 billion multiyear contract awarded in 2018 for six destroyers. Ingalls Shipbuilding President Brian Cuccias emphasized the positive momentum this contract brings to HII and its extensive supplier network. Ingalls has successfully delivered 32 destroyers and currently has four more under construction, reinforcing its position as a leader in military shipbuilding.
Huntington Ingalls Industries (NYSE: HII) has offered full-time positions to 60 high school seniors in coastal Mississippi and Alabama who completed specialized career technical education (CTE) training. This initiative, led by Ingalls Shipbuilding, aims to create a skilled workforce in shipbuilding. The students are poised to enter as entry-level skilled craftsmen and women, reflecting the company’s commitment to workforce development and industry readiness. HII emphasizes the importance of these training programs in establishing a robust talent pipeline for sustained operational success.
Huntington Ingalls Industries (HII) has successfully moved the destroyer Delbert D. Black (DDG 119) to Pier Four in Pascagoula, marking the reopening of a key facility damaged by Hurricane Katrina. The 187-acre site features enhanced construction areas and a restored pier for ship docking. CEO Brian Cuccias highlighted the significance of this restoration for the company’s growth and commitment to modern shipbuilding. Over 100,000 tons of recycled concrete were used for infrastructure improvements, aiming to enhance safety and efficiency in operations.
Huntington Ingalls Industries (NYSE:HII) will participate in Bernstein’s 36th annual Strategic Decisions Conference on May 28, 2020. The event features a discussion with HII President and CEO Mike Petters and CFO Christopher D. Kastner at 3 p.m. Eastern time. This interaction will be available via webcast on HII's investor relations website. HII is the largest military shipbuilding company in the U.S., with over 42,000 employees and a rich history of shipbuilding across various classes, supporting national security missions globally.
Huntington Ingalls Industries (NYSE: HII) announced a major milestone as its Ingalls Shipbuilding division successfully lifted the 320-ton aft deckhouse onto the guided missile destroyer Jack H. Lucas (DDG 125) on May 20, 2020. This ship is the first of the Flight III class, featuring enhanced radar and other technological improvements. The achievement keeps the project ahead of schedule, ensuring timely delivery of what is touted as the U.S. Navy's most advanced destroyer. The contract allows for efficient shipbuilding through bulk material purchasing and skilled labor transfer.
PASCAGOULA, Miss., May 20, 2020 — Huntington Ingalls Industries (NYSE: HII) will host a drive-in hiring event on May 22 from 9 a.m. to noon at Singing River Island. Job seekers can apply for positions and interact with recruiters from their vehicles, enhancing safety and accessibility. Edmond Hughes, VP of Human Resources, stated that this innovative approach facilitates engagement while maintaining social distancing. Attendees will enter the event at USS Wisconsin Loop, where various hiring stations will be set up for different shipbuilding crafts.
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