General Dynamics secures $91 million Navy contract for submarine systems

Investing.com -- General Dynamics (NYSE: GD) Mission Systems has been awarded a $91.2 million contract from the U.S. Navy for submarine tethered expendable buoy systems, the Department of Defense announced Wednesday.

The cost-plus-fixed-fee, cost-plus-incentive-fee, and firm-fixed-price indefinite-delivery/indefinite-quantity contract covers engineering, technical support, and production of buoy systems for both new construction and in-service submarines.

Work will be performed at the company's Manassas, Virginia facility and is expected to be completed by August 2030. The Navy has initially obligated $3 million to begin engineering efforts, with $2 million coming from fiscal 2025 procurement funds and $1 million from research and development funds.

The contract was awarded following a competitive procurement process that received three offers.

In a separate award, General Dynamics Information Technology secured a $15.8 million firm-fixed-price order for the continued operation, maintenance, and sunsetting support of the Armed Forces Billing and Collection Utilization Solution. This cloud-based software service handles billing and collections for military medical treatment facilities.

The task order includes a six-month base period and two six-month optional periods, running from August 1, 2025, to January 31, 2027. Work will primarily take place in Falls Church, Virginia, with the base period fully funded by fiscal 2025 operations and maintenance funds.

The Defense Health Agency's Healthcare Management Systems Contracting Division in Rosslyn, Virginia, is managing this contract, which was awarded on July 30.

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