LMT - General Dynamics Wins $203M Contract for DDG 51 Combat Ships | Benzinga
General Dynamics Corp.'s (NYSE: GD) business unit, Bath Iron Works, recently clinched a contract to provide planning yard services for its DDG 51 guided-missile destroyer ships. The award has been offered by the Naval Sea Systems Command, Washington, D.C.
Details of the Deal
Valued at $202.7 million, the contract is expected to be completed by Jul 31, 2029. Work related to this deal will be carried out in Bath, ME.
The options included in this contract, on being exercised, should bring the cumulative value of this contract to $1.13 billion.
What's Favoring General Dynamics?
Nations across the globe are fortifying their defense spending on military weapons and arsenals as they look to strengthen their defense capabilities. This also includes augmented spending on navy ships for enhanced sea warfare capabilities.
Such increased spending tends to benefit General Dynamics, with its Bath Iron Works business unit being an expert in manufacturing navy ships and providing modernization and lifecycle support for the U.S. Navy.
Notably, General Dynamics' DDG-51 Arleigh Burke-class guided-missile destroyers witness significant demand owing to their wide range of advanced warfighting capabilities in multi-threat air, surface and subsurface environments. These also offer protection against a wide range of threats, including ballistic missiles. Their strong demand is evident from the fact that in ...