General Dynamics wins $273 million in defense contracts

Investing.com - General Dynamics (NYSE: GD) received two defense contracts totaling $273.2 million from the U.S. Department of War, the government announced Friday.

General Dynamics Mission Systems in Taunton, Massachusetts, was awarded a $229.7 million fixed-price incentive modification to contract N00024-21-C-6425 for the procurement of 188 additional Hammerhead units and eight complementary peculiar support equipment sets. Work will be performed in Taunton, Massachusetts (55%); Braintree, Massachusetts (15%); Lincoln, Nebraska (13%); Wilmington, Massachusetts (10%); and Accident, Maryland (7%). The contract is expected to be completed by October 2028.

Fiscal 2025 weapons procurement (Navy) funds in the amount of $229.7 million will be obligated at time of award and will not expire at the end of the current fiscal year. Naval Sea Systems Command in Washington, D.C., is the contracting activity. The contract was not competitively procured in accordance with 10 U.S. Code 3204(a)(1) (one responsible source).

General Dynamics One Source LLC in Falls Church, Virginia, received a $43.6 million firm-fixed-price modification to contract N0001924C0057. The modification adds scope to procure transitional information technology and information assurance and cybersecurity services in support of the F-35 Joint Strike Fighter program. Work will be performed in Arlington, Virginia (79.9%); Edwards Air Force Base, California (5.5%); Patuxent River, Maryland (3.7%); Fort Worth, Texas (3.1%); Eglin AFB, Florida (2.4%); China Lake, California (1.2%); Wright-Patterson AFB, Ohio (1.2%); and various locations within the continental U.S. (3%).

The F-35 contract is expected to be completed in July 2027. Fiscal 2026 aircraft procurement (Air Force) funds in the amount of $40.4 million; fiscal 2026 operations and maintenance (Navy) funds in the amount of $380,836; fiscal 2026 operations and maintenance (Marine Corps) funds in the amount of $125,000; and Foreign Military Sales customer funds in the amount of $2.6 million will be obligated at the time of award. Naval Air Systems Command in Patuxent River, Maryland, is the contracting activity.

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