General Dynamics to upgrade Virginia-class submarines with $1 billion contract

General Dynamics Electric Boat, a subsidiary of General Dynamics, announced today that it has received a $1 billion undefinitized contract modification. This agreement enables Electric Boat to procure long lead-time materials for the Virginia Class Block VI submarines, as outlined in the U.S. Department of Defense's contract announcement.

This contract modification reinforces the vital demand signal needed by the submarine industrial base to continue investing in the capacity and materials necessary to boost production,” said Mark Rayha, president of General Dynamics Electric Boat. “Reliable and consistent funding across the supply chain is critical to meeting the Navy’s demand for high-rate submarine production.”

Virginia-class submarines are purpose-built to meet a wide range of modern mission needs, including anti-submarine and surface warfare, as well as support for special operations. General Dynamics Electric Boat serves as the prime contractor and lead design yard for the Virginia class, building the submarines in partnership with HII’s Newport News Shipbuilding in Virginia.

General Dynamics Electric Boat specializes in the design, construction, maintenance, and modernization of nuclear submarines for the U.S. Navy. Based in Groton, Connecticut, the company employs over 24,000 people.

General Dynamics, headquartered in Reston, Virginia, is a global aerospace and defense company offering a wide range of products and services, including business aviation, shipbuilding and repair, land combat systems, weapons and munitions, as well as advanced technology solutions. With a workforce of over 110,000 employees worldwide, the company reported $47.7 billion in revenue for 2024.