Leonardo DRS Awarded Contracts Valued at Over $3 Billion for U.S. Navy’s Columbia-Class Submarine Program
11 January 2024 - 8:01AM
Business Wire
Leonardo DRS, Inc. (NASDAQ: DRS) has been awarded contracts
valued at over $3 billion, when fully funded, to provide integrated
electric propulsion system products for the U.S. Navy’s
Columbia-class submarines. This contract solidifies DRS’s position
through shipset 12 for the Columbia-class program. This award was
previously announced on the DRS 2023 Q3 earnings call.
Leonardo DRS was chosen by General Dynamics Electric Boat and
the U.S. Navy to design and manufacture the permanent magnet main
propulsion electric motor, the propulsion motor drives, switchgear,
and the propulsion controls – the heart of the Columbia Electric
Drive Propulsion System. These are key components of the primary
propulsion system of the next-generation ballistic missile
submarine fleet. All prototype components of this system
successfully completed full power endurance and other testing at
the Navy’s land-based test facility.
“This award highlights Leonardo DRS as an agile and trusted
partner for the U.S. Navy and General Dynamics Electric Boat,
having now been awarded contracts to supply our state-of-the-art
electric propulsion components through shipset 12 for the
Columbia-class program,” said Leonardo DRS CEO Bill Lynn. “We are
proud to be a part of this team and be the provider of these
critical components for the most advanced ballistic missile
submarine in our Navy’s history.”
The Columbia-class submarine is a new class of ballistic missile
submarines and is a top priority for the U.S. Navy. They are
designed to replace the fleet of Ohio-class submarines. At 560 feet
long with displacement of nearly 21,000 tons, the Columbia-class
submarines will be the largest ever built by the United States.
“DRS is committed to our partnership with Electric Boat and the
U.S. Navy,” said Jon Miller, senior vice president and general
manager of Leonardo DRS Naval Power Systems. “Their strategic
mission is our purpose. Together, we develop innovative systems for
critical next-generation national security platforms like the
Columbia-class ballistic missile submarine.”
The integrated electric propulsion components will be
manufactured in the DRS facilities in Fitchburg, Massachusetts,
Menomonee Falls, Wisconsin, Danbury, Connecticut, and High Ridge,
Missouri. “This award is a reflection of our talented workforce and
world-class propulsion technology that can provide capability from
the power source to the propeller shaft,” said Miller.
Leonardo DRS is a leading provider of next-generation electrical
power conversion and propulsion technology for the U.S. Navy, with
major systems for next-generation submarines and surface ships.
Investments in the company’s market-leading propulsion and power
generation technology have created opportunities to use proven
electric drive capabilities for future naval platforms. DRS
solutions are leading the way in providing power flexibility to
support the increased power requirements of current and future
naval platforms.
About Leonardo DRS
Headquartered in Arlington, VA, Leonardo DRS, Inc. is an
innovative and agile provider of advanced defense technology to
U.S. national security customers and allies around the world. We
specialize in the design, development and manufacture of advanced
sensing, network computing, force protection, and electric power
and propulsion, and other leading mission-critical technologies.
Our innovative people are leading the way in developing disruptive
technologies for autonomous, dynamic, interconnected, and
multi-domain capabilities to defend against new and emerging
threats. For more information and to learn more about our full
range of capabilities, visit www.LeonardoDRS.com.
Forward-Looking Statements
This communication contains statements that constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Those statements reflect
current expectations, assumptions and estimates of future
performance and economic conditions. The company cautions investors
that any forward-looking statements are subject to risks and
uncertainties that may cause actual results and future trends to
differ materially from those matters expressed in or implied by
such forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20240110394417/en/
Leonardo DRS Investor Relations Steve Vather Vice
President, Investor Relations and Corporate Finance +1 703 409 2906
stephen.vather@drs.com
Leonardo DRS Media Michael Mount Vice President,
Communications and Public Affairs +1 571 447 4624
mmount@drs.com
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