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link : America's Submarine Contractor Sees Good Years Ahead
America's Submarine Contractor Sees Good Years Ahead
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The attack submarine Illinois is shown under construction at General Dynamics Electric Boat. (Jessica Hill/AP)
WASHINGTON — General Dynamics’ marine business expects its work in building submarines to drive hundreds of millions of dollars in annual revenue growth over the coming years, company head Phebe Novakovic told investors in a call Wednesday.
The company is expecting a $300 million increase in revenue in 2021, with a rough estimate of between $400-500 million of growth a year, Novakovic said, citing submarines as a significant driver. The next-generation ballistic missile submarine Columbia will account for much of that growth, she said.
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WNU Editor: Unless the Biden administration and Congress changes course and cut back on submarine procurement, submarines will defintily be a cash cow for some defense manufacturers.
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