General Dynamics (GD) secures $218 million in defense contracts

Investing.com -- General Dynamics (NYSE: GD) has secured three defense contracts worth approximately $218 million for various military projects.

General Dynamics Land Systems, based in Sterling Heights, Michigan, received a $27.4 million modification to an existing contract for Abrams system technical support. The work will be performed in Sterling Heights with completion expected by February 28, 2026. The funding comes from fiscal 2025 Army procurement funds and Foreign Military Sales to Australia and Poland. The Army Contracting Command at Detroit Arsenal, Michigan, is managing this contract.

In a separate award, General Dynamics Electric Boat Corp. of Groton, Connecticut, received a $159.7 million cost-plus-fixed-fee modification to an existing contract. This modification establishes five contract line-item numbers for shipsets of onboard repair parts for Virginia-class submarines SSN 802-806. The work will be performed in Groton and is scheduled for completion by November 2029. The contract includes options for five additional onboard repair parts shipsets that would add $176.1 million to the contract value if exercised, extending work through February 2032.

Additionally, General Dynamics Electric Boat Corp. was awarded a $31.5 million cost-plus-fixed-fee modification for lead yard support and development studies related to Virginia-class submarines. This work will be performed across the continental United States with expected completion by June 2028.

The submarine-related contracts are being overseen by the Naval Sea Systems Command in Washington, D.C., and the Supervisor of Shipbuilding in Groton, Connecticut.

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