U.S. Navy has ordered nine Block V fast attack submarines
The U.S. Navy announced that its most expensive shipbuilding contract ever, more than $22.2 billion worth of the world's most advanced submarines. Construction on Block V ships will begin this year, with deliveries scheduled from 2025 through 2029.
General Electric and subcontractor Huntington Ingalls Industries' Newport News Shipbuilding division will lead the project.
"Our submarine force is fundamental to the power and reach of our integrated naval force. Today's announcement affirms our commitment to the future strength of our nation, undersea and around the world," Acting Navy Secretary Thomas Modly said in a statement.
The Block V contract is a $22.2-billion fixed-price incentive fee, multi-year procurement contract for fiscal years 2019 through 2023. The option of a 10th submarine brings the total potential value of the contract to $24.1 billion.
The Navy already has 18 Virginia class attack submarines in operation and 10 more in various stages of construction, but the nine new models will feature substantial upgrades in both size and firepower.
Maritime Business World