General Dynamics Electric Boat wins $71.6B in Navy submarine deals

General Dynamics Electric Boat, a unit of General Dynamics (NYSE: GD), has been awarded contracts totaling $71.6 billion for the construction of 14 submarines as part of a broader $76.6 billion U.S. Navy contract announcement on July 29, 2026.

The awards include $29.5 billion for five additional Columbia-class submarines and $42.1 billion for nine additional Virginia-class submarines, along with additional support for shipyard infrastructure.

Mark Rayha, president of General Dynamics Electric Boat, said the contract modifications provide the company and its suppliers "with the demand certainty we need to continue investing in capacity and hiring the workforce necessary to ensure we deliver these important national security assets on schedule."

General Dynamics Electric Boat is headquartered in Groton, Connecticut, and employs more than 27,000 people. The company designs, builds, repairs, and modernizes nuclear submarines for the U.S. Navy.

Parent company General Dynamics, headquartered in Reston, Virginia, reported $52.6 billion in revenue in 2025 and employs more than 120,000 people worldwide.

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