General Dynamics Electric Boat has received a $987 million contract modification to support submarine production efforts under an existing U.S. Navy contract. The funding covers component development, Class Lead Yard Support (CLYS), and initiatives to strengthen the Submarine Industrial Base (SIB), according to the Department of Defense.
The company stated the award will bolster shipyard capacity and enhance supply chain capabilities critical to meeting future submarine delivery targets. "This contract modification funds important shipyard and supply chain work essential to achieving the necessary growth in output," said Mark Rayha, President of General Dynamics Electric Boat.
Work under the contract will take place primarily in Groton, Connecticut (70%), with additional efforts in Newport News, Virginia, and Quonset Point, Rhode Island. The contract is expected to run through 2031.
Electric Boat, a business unit of General Dynamics, is the primary builder of nuclear submarines for the U.S. Navy. The company employs more than 24,000 people. General Dynamics, its parent company, is a major U.S. defense contractor with over 110,000 employees and reported $47.7 billion in revenue in 2024.
