Two companies have secured $77 billion in defense contracts to build 14 new submarines, as the U.S. Navy touted a “historic investment in maritime modernization and supremacy.”
General Dynamics Electric Boat, based in Groton, Connecticut, and Huntington Ingalls Inc., based in Newport News, Virginia, will jointly build the undersea vessels, which add to previous agreements.
Under the new deal, the contractors will manufacture nine Virginia-class attack submarines and secure materials for a tenth one for $42 billion. They will also produce five Columbia-class ballistic missile submarines for $30 billion…