The U.S. Navy announced today that General Dynamics Bath Iron Works, a subsidiary of General Dynamics (NYSE: GD), was awarded a contract to continue providing planning yard services for DDG 51 Arleigh Burke-class guided missile destroyers. The contract is valued at $126 million for the first year with four option years which, if exercised and fully funded by the Navy, would bring the total value of the contract to $719 million.
Planning yard services include design, material kitting, logistics, planning and execution. The majority of the Planning Yard services work will be performed in Maine.
Bath Iron Works also currently manages post-delivery maintenance and modernization activities for DDG 1000-class ships and LCS-class ships.
Key data points: The market size in 2031 = $22.4 billion, growth forecast = 2.5% annually for the next 7 years. Scroll below to get more insights. This market report covers trends, opportunities, and forecasts in the global turret system market to 2031 by platform (land, naval, and airborne), type (manned turret and unmanned turret), component (turret drive, turret control, and stabilization unit), and region (North America, Europe, Asia Pacific, and the Rest of the World)
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