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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 Mission Technologies division has been awarded a $65 million task order to support the Joint Staff J7, Deputy Director, Joint Warfighting Development. The contract focuses on three key areas: futures and concepts, joint experimentation, and wargaming for the Joint Staff J4 Logistics enterprise. HII will leverage its expertise in live, virtual, constructive solutions to prepare warfighters for cross-domain battles and support the development of joint concepts addressing emerging operational challenges. The task order was awarded under the Department of Defense's Information Analysis Center (IAC) Multiple Award Contract (MAC) vehicle, emphasizing HII's role in enhancing defense research and development capabilities.
HII (NYSE: HII) announced that its Newport News Shipbuilding (NNS) division has completed contracted work at the Naval Nuclear Laboratory's Kenneth A. Kesselring Site in West Milton, New York. Since 2012, NNS has provided maintenance services and led the refueling overhaul of a nuclear reactor prototype at the site, which supports the U.S. Navy's Naval Nuclear Propulsion Program.
Mary Cullen, NNS vice president of nuclear propulsion, stated that the completion of this work positions Kesselring to continue training nuclear operators for decades. NNS is the nation's sole designer, builder, and refueler of nuclear-powered aircraft carriers and one of only two shipyards capable of designing and building nuclear-powered submarines for the U.S. Navy.
HII (NYSE: HII) hosted a delegation of Australian parliamentarians and U.S. Representatives at its Newport News Shipbuilding division to support the AUKUS partnership. The visit focused on HII's expertise in nuclear-powered submarine sustainment, supply chain management, and workforce development. HII, as a founding member of the AUKUS Workforce Alliance, is committed to preparing a skilled workforce for Australia's nuclear-powered submarine program.
The delegation, led by Milton Dick, Speaker of the Australian House of Representatives, engaged with senior leadership about HII's capabilities. Rep. Bobby Scott and Rep. Rob Wittman emphasized the importance of Virginia's submarine industrial base in supporting the AUKUS agreement and deterring China's military aggression in the Indo-Pacific region.
On July 10, 2024, HII (NYSE: HII) hosted Assistant Secretary of the Navy for Research, Development, and Acquisition, Nickolas Guertin, at its Ingalls Shipbuilding division in Pascagoula, Mississippi.
During the visit, Secretary Guertin met with shipbuilders and leadership, receiving updates on ships under construction and modernization efforts. He toured the guided missile destroyer Ted Stevens (DDG 128) and the amphibious assault ship Bougainville (LHA 8).
Ingalls Shipbuilding President Kari Wilkinson emphasized the company's commitment to supporting global peace and prosperity through its shipbuilding efforts. Ingalls Shipbuilding has a long history of designing, building, and maintaining ships for the U.S. Navy and Coast Guard, and is currently building four classes of ships simultaneously.
HII (NYSE: HII) is set to announce its second quarter 2024 financial results on August 1, 2024. An earnings conference call, featuring remarks from CEO Chris Kastner and CFO Tom Stiehle, will be held at 9 a.m. Eastern time on the same day. The call will be webcast live on HII’s official website, where supplementary slides will also be available. Replays of the webcast will be accessible on the website for a period.
HII’s (NYSE: HII) Ingalls Shipbuilding division hosted 23 Mississippi educators for a two-week Educator Externship program at its shipyard in Pascagoula, Mississippi, from June 3 to June 14, 2024. Organized by Ingalls' human resources and administration team, the program aimed to bridge the gap between education and industry, providing educators with firsthand experience in shipbuilding. Susan Jacobs, VP of Human Resources, emphasized the importance of the program in fostering a deeper appreciation for the critical skills needed in shipbuilding and the career opportunities at Ingalls. The initiative highlights Ingalls' commitment to workforce development and its role as the largest manufacturing employer in Mississippi, currently building four classes of ships for the U.S. Navy.
HII's Ingalls Shipbuilding division has opened applications for its 2024-2025 STEM grant awards, providing up to $100,000 in funding for educational initiatives in Alabama, Louisiana, and Mississippi. The application period is open until October 18, 2024, and recipients will be announced in January 2025.
Eligible educators and nonprofit organizations can apply for grants of up to $5,000 per project, focusing on science, technology, engineering, or mathematics. Over the past decade, Ingalls has awarded over $1.1 million to support STEM education.
Last year's grant cycle saw nearly 80 applications, with 24 projects receiving support. The initiative aims to foster innovation and critical thinking among youth and cultivate future shipbuilders.
On June 25, 2024, HII (NYSE: HII) hosted a congressional delegation from the House Armed Services Committee at its Newport News Shipbuilding division. The delegation, led by Chairman Rep. Mike Rogers, included Rep. Joe Courtney, Rep. Rob Wittman, and Rep. Jen Kiggans. The visit showcased the shipyard's operations, work quality, and innovations in technology, such as fixture-based manufacturing. During the tour, the delegation observed the construction of Columbia- and Virginia-class submarines, as well as Gerald R. Ford-class aircraft carriers. HII's NNS division is the largest industrial employer in Virginia with over 25,000 employees, and the visit emphasized the importance of stable demand signals for a robust shipbuilding industrial base. Photos of the visit can be viewed on HII's website.
HII’s Newport News Shipbuilding division, in collaboration with the U.S. Navy, the city of Newport News, and the commonwealth of Virginia, announced the construction of a new parking garage. This project will create over 2,000 new parking spaces, enhancing accessibility for shipbuilders and sailors.
Contractor W.M. Jordan will use an innovative offsite pre-construction strategy to expedite completion. This improvement aligns with future Navy commitments and the ongoing transformation of both Newport News Shipbuilding and downtown Newport News.
Key figures such as NNS President Jennifer Boykin, Rear Adm. Casey Moton, and Virginia State Sen. Mamie Locke highlighted the garage’s significance for the community and its workforce.
HII's Mission Technologies division has appointed Tim Brown as vice president of operations and Terry Nichols as managing director for two business areas in Australia. These appointments are aimed at advancing the goals of the Australia-United Kingdom-United States (AUKUS) trilateral partnership. Brown will lead efforts for AUKUS Pillar 1, focusing on nuclear-powered, conventionally armed submarine fleet development, while Nichols will leverage HII's expertise in advanced cyber, electronic warfare, AI, and C5ISR operations for AUKUS Pillar 2. Their leadership is expected to enhance capabilities and forge strong alliances with the Australian Defence Force.
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