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General Dynamics: Submarine unit’s revenue to double

06 November 2019
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General Dynamics expects revenue at its Electric Boat unit to double over the next decade as the Columbia-class ballistic missile submarine programme shifts from development to production, according to the head of the US defence contractor.

“So that is significant growth,” said Phebe Novakovic, General Dynamics’ chair and CEO, who spoke on 6 November at the Baird Global Industrial Conference in Chicago.

In its latest financial report, General Dynamics’ Marine Systems segment, which consists of several units – including Electric Boat – reported revenue of USD2.2 billion in the third quarter of 2019, up 11.6% from the same period a year earlier.

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