Navy Awards Electric Boat $2.3B Contract Modification

The U.S. Navy awarded General Dynamics Electric Boat a not-to-exceed $2.3 billion contract modification May 11 to support Virginia-class submarine production.

The contract modification covers long-lead time materials and pre-construction early manufacturing.

Work will be distributed across multiple U.S. locations, including Groton-based Electric Boat’s Connecticut facilities.

Built for multi-mission roles, the Virginia-class submarine is the Navy’s primary backbone for nuclear-powered fast attack submarines.

Electric Boat has delivered 14 Virginia-class ships to the Navy, with the latest, the USS Idaho, commissioned last month at Naval Submarine Base New London.

The company is also developing the new Columbia class of ballistic-missile submarines, with the first ship in that group scheduled for delivery in 2028.

In March, Electric Boat president Mark Rayha said the company expects to hire a “mind-boggling” 8,000 workers for its Connecticut and Rhode Island facilities this year.

Electric Boat has spent $1.56 billion across the 342 suppliers in Connecticut over the past five years—with the expectation that the number can grow.