General Dynamics receives $327.8M submarine contract modification
Reston defense contractor's Electric Boats subsidiary to continue support work on Virginia-class subs
The U.S. Navy last week awarded the Electric Boats subsidiary of Reston-based Fortune 100 defense contractor General Dynamics Corp. a $327.8 million contract modification to continue development studies, design work and lead yard support for the branch’s Virginia-class submarines, the U.S. Department of Defense announced Oct. 9.
Electric Boat originally received a $434.4 million contract in October 2019 to help the Navy update the design, drawings and data of the nuclear-powered fast-attack submarine platform.
Work on this contract modification will primarily be done in Groton, Connecticut, according to the DOD. Some of the work will also be conducted in Newport News as well as and Newport and Quonset Point, Rhode Island. Work on the contract is expected to be completed by April 2021.
Naval Sea Systems Command, the contracting activity, will obligate $134.6 million at the time of the award, according to the DOD, with nearly $66.8 million of the initial obligated funds expiring at the end of the current fiscal year.
General Dynamics has a global workforce of more than 100,000 employees and generated $39.4 billion in 2019 revenue. In December 2019, General Dynamics won the largest Navy contract ever awarded, a $22.2 billion multiyear order for nine (or potentially 10) nuclear-powered, fast-attack submarines capable of launching Tomahawk missiles.