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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.
HII's Ingalls Shipbuilding division hosted its second annual Project MFG Maritime Welding Competition, featuring 19 local students from area high schools and career technical programs. The two-hour event tested contestants' welding proficiency, requiring them to follow precise instructions while demonstrating knowledge of welding techniques, safety procedures, and equipment handling.
The competition aimed to highlight the importance of skilled trades in manufacturing and encourage students to pursue careers critical to the nation's industrial base. Winners received prizes and all participants received contingent employment offers from Ingalls. The top two winners were invited to participate in Project MFG's National Maritime Championship in the spring.
First place went to Devin Chanthivong from Alma Bryant High School, who expressed surprise and excitement about his potential future at Ingalls. The event served as a platform for students to showcase their talents and for industry representatives to connect with emerging talent, emphasizing the significance of vocational education in meeting modern workforce demands.
HII's Newport News Shipbuilding (NNS) division is strengthening its partnership with Old Dominion University (ODU) by opening an onsite NNS office in ODU's Engineering Systems building. The collaboration focuses on engineering, business, technology, modeling and simulation, student engagement, and the future of shipbuilding.
This initiative builds upon NNS's role as the lead industry sponsor of the Monarch Accelerator Program to Engineering (MAP-to-E), which aims to increase engineering and engineering technology majors and degrees, particularly from underrepresented communities in Hampton Roads.
The new office allows ODU students to connect directly with NNS for internships, co-ops, full-time employment, professional development, and mentoring opportunities. Currently, over 22% of NNS's engineering workforce are ODU graduates. NNS also sponsors the NNS Scholars program, providing academic scholarships to qualified students in engineering, business, or computer science.
HII (NYSE: HII) hosted Gen. Charles Q. Brown Jr., chairman of the Joint Chiefs of Staff, at its Newport News Shipbuilding division. Brown emphasized the importance of maintaining warfighting skills and praised the collaboration between the Navy's shipbuilding team and defense industry partners. During his visit, Brown toured the John F. Kennedy (CVN 79), observed construction progress on Virginia- and Columbia-class submarine modules, and met with shipyard leadership.
Accompanied by Adm. William Houston and Vice Adm. Jim Downey, Brown's visit highlighted the critical role of nuclear-powered aircraft carriers and submarines in national security. NNS President Jennifer Boykin expressed gratitude for Brown's visit and reaffirmed the shipbuilders' commitment to supporting the Department of Defense. NNS is the sole designer, builder, and refueler of nuclear-powered aircraft carriers in the U.S. and one of only two shipyards capable of designing and building nuclear-powered submarines.
HII (NYSE: HII) announced that its Mission Technologies division has been awarded a task order to conduct research for enhancing navigation and autonomy technologies for the U.S. Air Force and broader Department of Defense. The research will be conducted at Wright-Patterson Air Force Base in Dayton, Ohio, focusing on three main areas:
- Autonomous and cooperative systems
- Non-GPS precision navigation
- Robust global navigation satellite system navigation/navigation warfare
The research findings will help identify and solve challenging problems in these areas and lay the groundwork for future technological advancements. Grant Hagen, president of Mission Technologies' Cyber, Electronic Warfare and Space business group, emphasized the vital importance of this work for the future of defense and its significant impact on future navigation methods.
HII (NYSE: HII) has announced that it will release its third quarter 2024 financial results on Thursday, Oct. 31. The company will host an earnings conference call at 9 a.m. Eastern time on the same day. The call will be webcast live on HII's website, and participants will include Chris Kastner, president and CEO, and Tom Stiehle, executive vice president and CFO.
Their remarks will be supplemented by a series of slides available on the company website. Listeners are encouraged to view these materials during the call. Replays of the call will be available on the website for a time.
HII's Mission Technologies division has opened a new Advanced Materials and Coatings Lab (AMCL) in Willowbrook, Illinois. This state-of-the-art facility is dedicated to developing and manufacturing cutting-edge thermal space coatings for the aerospace industry, government and commercial space programs, and satellite providers. The AMCL builds upon HII's six-decade legacy of innovation in supporting NASA, the U.S. Department of Defense, and other space sector partners.
The new 13,250-square-foot facility replaces the previous AMCL in Chicago and is equipped with advanced chemical laboratory technology. It will enable HII's team to expand their specialty coating research and manufacturing into other DOD applications. The lab's expertise has contributed to various space missions, including NASA's Orbiter, Apollo missions, and missions to Jupiter and Mars.
HII's Mission Technologies division has been awarded a $458 million contract to modernize communications and IT networks for the U.S. government. The task order aims to enhance system hardening against cyber threats, introduce new capabilities, and enable cloud migration. These improvements will support U.S. Department of Defense service components and the U.S. Special Operations Command with IT services and solutions for warfighters.
The project will utilize model-based systems engineering to focus on communication hardware prototyping, waveform development, mobile ad-hoc network aerial relay solutions, payloads, and deployable communication kits. HII will also support spectrum and bandwidth management and develop capabilities to modernize communications and data analytics at the tactical edge. The task order has a five-year term and was awarded under the Department of Defense's Information Analysis Center Multiple Award Contract (MAC) vehicle.
HII's Ingalls Shipbuilding division has been awarded a $9.6 billion multi-ship procurement contract for the construction of three San Antonio-class (LPD 17) amphibious ships and a contract modification for the next America-class (LHA 6) large-deck amphibious ship. This combined procurement, a first for amphibious ships, covers the construction of LPDs 33, 34, 35, and LHA 10 for the U.S. Navy.
Ingalls President Kari Wilkinson emphasized the stability this award provides to shipbuilders and surrounding communities. The contract supports the Navy and Marine Corps' goal of meeting the minimum 31-amphibious-ship requirement. Approximately half of Ingalls shipbuilders work on amphibious ships, with 650 supplier partners across 39 states contributing components.
To date, Ingalls has delivered 13 San Antonio-class ships and 15 large-deck amphibious ships to the U.S. Navy. The company is currently constructing several other amphibious ships, including Bougainville (LHA 8), Fallujah (LHA 9), Harrisburg (LPD 30), and Pittsburgh (LPD 31).
HII (NYSE: HII), a global all-domain defense provider, has announced that Steve Powell will become the company's next corporate vice president and treasurer, effective Jan. 1, 2025. Powell, currently HII's assistant treasurer for banking and capital markets, will succeed D.R. "Rick" Wyatt, who is retiring after over 40 years of service. In his new role, Powell will be responsible for various financial aspects of the company, including banking, corporate finance, cash management, insurance, and pension trust asset management.
Powell has been with HII's Treasury Department since 2011 and previously worked at Lockheed Martin and Martin Marietta. He holds a bachelor's degree in chemistry with concentrations in finance, business & economics from St. Lawrence University and an MBA from Virginia Tech. Powell will report directly to Executive Vice President and CFO Tom Stiehle.
HII's Mission Technologies division has delivered two REMUS 620 uncrewed underwater vehicles (UUVs) to the National Oceanic and Atmospheric Administration (NOAA) for enhanced ocean floor mapping. The delivery comes less than 24 months after the REMUS 620's unveiling in November 2022. These medium-class UUVs are designed for long-distance operations with above- and below-water capabilities.
The NOAA REMUS 620 vehicles feature customized enhancements including a synthetic aperture sonar module, additional energy module, and auxiliary equipment. NOAA plans to use them for high-resolution mapping in the Gulf of Mexico, focusing on restoring seafloor habitats damaged by the 2010 Deepwater Horizon oil spill.
HII reports strong market interest in the REMUS 620, with over 600 REMUS UUVs sold globally across 30+ countries. Notably, 90% of vehicles delivered in the past 23 years remain operational, showcasing the platform's durability and upgradability.
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