General Dynamics unit wins $95 million Navy submarine contract

Investing.com -- General Dynamics (NYSE: GD) Electric Boat Corp. secured a $95 million contract modification from the U.S. Department of War for submarine support services, the department announced Wednesday.

The Groton, Connecticut-based unit will provide engineering, technical, design agent, and planning yard support for operational strategic and attack submarines under the cost-plus-fixed-fee modification to contract N00024-24-C-2124.

Work will be distributed across multiple locations, with 70% performed in Groton, Connecticut, 13% in Kings Bay, Georgia, 10% in Bangor, Washington, 3% in Pearl Harbor, Hawaii, 2% in North Kingston, Rhode Island, and 2% in Newport, Rhode Island. The project is scheduled for completion by June 2026.

The Navy obligated $4,818,962 at the time of award, drawn from fiscal 2026 research, development, test and evaluation funds ($2,600,000 or 54%), fiscal 2026 operations and maintenance funds ($1,793,786 or 37%), and fiscal 2024 other procurement funds ($425,176 or 9%). Of the total obligated amount, $2,218,962 will expire at the end of the current fiscal year.

Naval Sea Systems Command in Washington, D.C., serves as the contracting activity. The contract was awarded on Monday.

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