U.S. Navy Awards Electric Boat $76.6 Billion Contract for Submarine Construction
The U.S. Navy has awarded a $76.6 billion contract to Electric Boat, a division of General Dynamics, for the construction of new submarines. This contract is considered the largest naval shipbuilding award in modern American history. It includes $42 billion for nine Virginia class attack submarines, $29.5 billion for five Columbia class ballistic missile submarines, and $5 billion for shipyard improvements. U.S. Rep. Joe Courtney, a Democrat from eastern Connecticut and ranking member of the House Armed Services Committee’s Seapower Subcommittee, praised the contract as a significant boost to the submarine industrial base. The contract aims to replace the Navy’s aging fleet and counter China's naval expansion. Electric Boat is expected to build additional Virginia class submarines for Australia under the AUKUS security agreement. 
