General Dynamics Electric Boat has received a $1.85 billion contract modification from the U.S. Department of Defense to support ongoing submarine production. The update, announced in late June, expands on a previously awarded contract and covers the procurement of long lead-time materials and preliminary construction efforts.
According to the company, the funding will enable the timely acquisition of critical components for Virginia-class submarines, which require significant manufacturing lead times. The modification is also expected to help stabilize the submarine supply chain by supporting supplier investments and production readiness.
Mark Rayha, president of General Dynamics Electric Boat, emphasized that consistent funding is necessary to meet the U.S. Navy’s production targets for submarine platforms.
General Dynamics Electric Boat, based in Groton, Connecticut, is responsible for the design, construction, and modernization of nuclear-powered submarines for the U.S. Navy. The company currently employs over 24,000 personnel.
General Dynamics, the parent company, operates across various defense and aerospace domains and reported $47.7 billion in revenue for 2024. It employs over 110,000 people globally.
