Latest news with #navalmodernization
Globe and Mail
2 days ago
- Business
- Globe and Mail
General Dynamics Wins $323M Deal to Support Submarine Program
General Dynamics Corp. 's ( GD ) business unit, Electric Boat, recently clinched a modification contract involving submarines. The award has been offered by the Naval Sea Systems Command, Washington, D.C. Valued at $322.6 million, the contract is projected to be completed by September 2025. Per the terms of the deal, Electric Boat will provide engineering, technical, design agent and planning yard support for strategic and attack submarines. The majority of work related to this deal will be executed in Groton, CT. What's Favoring GD Stock? Rising demand for naval modernization programs, backed by intensifying global geopolitical tensions, alongside aging submarine fleets, has been boosting the need for new submarine construction as well as steady maintenance, upgrades and lifecycle support services. Additionally, advancements in stealth, AI, and undersea warfare technologies are accelerating demand for specialized support systems to upgrade strategic and attack submarines. General Dynamics, a renowned submarine manufacturer and provider of yard support and associated solutions for these submarines, thus enjoys a steady stream of contracts for submarine manufacturing and associated services. The latest contract win is a bright example of that. Impressively, GD's Electric Boat unit has been expanding its footprint through a series of real estate acquisitions it has made over the past six months to accelerate submarine production and related support services. The latest acquisition in this line was Electric Boat's acquisition of the former Macy's department store location in Waterford, CT, in June 2025. The surge in submarine demand and lifecycle support services must have encouraged GD's Electric Boat unit to strategically expand its infrastructure — including the recent Macy's site acquisition — to enhance production capacity and efficiently execute critical contracts like yard support, ensuring it remains a dominant force in naval modernization. GD's Growth Prospects Increasing demand for advanced submarine technologies like stealth capabilities, underwater surveillance and long-range strike systems, as well as the growing complexity of modern naval warfare, has been boosting the growth opportunities of the submarine market. This is likely to have prompted the Mordor Intelligence firm to forecast a compound annual growth rate of 4.2% for the global submarine market during 2025-2030. This is likely to benefit General Dynamics, with its Electric Boat business division, which is responsible for all aspects of design and engineering of Columbia-class ballistic missiles and Virginia-class attack submarines. Opportunities for Other Defense Stocks Other defense companies that are likely to enjoy the perks of the expanding global submarine market have been discussed below. Huntington Ingalls Industries ( HII ): Its Newport News Shipbuilding unit is one of two designers and builders of nuclear-powered submarines for the U.S. Navy. Through its Newport News Shipbuilding division, HII is involved in producing the Columbia-class and Virginia-class submarines, two key assets of the U.S. Navy. The company provides fleet services to its submarines around the world, offering modernization, repair and installation services. BAE Systems ( BAESY ): It plays a vital role in the production of advanced submarines, particularly in the United Kingdom's defense sector. BAE Systems is the primary manufacturer of the Astute-class nuclear submarines, which are integral to the Royal Navy's fleet. The company is also working as part of the Dreadnought Alliance, alongside partners Rolls-Royce and the Submarine Delivery Agency, to deliver the Dreadnought-class submarine program. Northrop Grumman Corporation ( NOC ): It is a renowned provider of missile launch systems for naval submarines. The company manufactures Launcher Subsystem hardware to support the Columbia and Dreadnought common missile compartment program. Its systems and sensors are fielded on Virginia-class submarines. See our %%CTA_TEXT%% report – free today! 7 Best Stocks for the Next 30 Days Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Northrop Grumman Corporation (NOC): Free Stock Analysis Report General Dynamics Corporation (GD): Free Stock Analysis Report Bae Systems PLC (BAESY): Free Stock Analysis Report Huntington Ingalls Industries, Inc. (HII): Free Stock Analysis Report
CNN
06-06-2025
- Politics
- CNN
North Korea refloats destroyer that capsized during launch, surprising naval analysts
North Korea says it has successfully refloated a new destroyer that capsized upon launch last month, with state media reporting the damaged vessel will be moved to a dry dock in a different shipyard for repairs. 'After restoring the balance of the destroyer early in June, the team moored it at the pier by safely conducting its end launching on Thursday afternoon,' a report from the state-run Korean Central News Agency (KCNA) said. A satellite photo taken by Planet Labs on June 5 showed the formerly stricken vessel righted and seemingly floating in water away from the pier where the disastrous launch took place. The 5,000-ton destroyer is the country's newest warship and was meant to be a triumph of North Korea's ambitious naval modernization effort. Instead, a malfunction in the launch mechanism on May 21 caused the stern to slide prematurely into the water, crushing parts of the hull and leaving the bow stranded on the shipway, KCNA reported at the time. A day later, state media reported the damage was not as bad as initially feared. Meanwhile, North Korean leader Kim Jong Un, who witnessed the failed launch in the northeastern city of Chongjin, called it a 'criminal act,' and the government quickly said it arrested four people it claims are responsible for the launch accident. Kim ordered officials to swiftly repair the as-yet-unnamed ship before the late-June plenary session of the ruling Workers' Party, calling it a matter of national honor. KCNA reported Friday that Kim's goal will be met. 'The next-stage elaborate restoration is to be carried out at the dry dock of the Rajin Dockyard for the period of 7-10 days,' KCNA reported, adding that Central Committee Secretary Jo Chun Ryong, who is leading the repair effort, said 'the perfect restoration of the destroyer will be completed without fail' before the plenary meeting. The quick action to refloat the ship surprised analysts, who, based on satellite images of the accident, thought the process would take much longer. 'Sheer manpower and – let's face it – an innovative approach to righting the ship, delivered a solution in two weeks that people like me didn't expect for four to six,' said analyst Carl Schuster, a former US Navy captain. The innovative approach apparently was using aerostatic balloons attached to the ship's hull to help balance and refloat it, satellite imagery showed. Damage to the hull was less severe than analysts expected when they saw what happened on May 21. During the sideways launch, in which the ship was supposed to slide into the water laterally, the stern of the warship slipped into the water while the bow remained on land. Analysts thought the stresses placed on the hull and keel during such an accident could have potentially led to its scrapping. But 'the hull damage must have been significantly less than estimated,' Schuster said. Schuster said if North Korea can devote the same effort to internal repairs to the warship as it did to refloating it, it could be made ready for sea trials much sooner that he would have thought after the accident. Internal spaces of the ship, as well as machinery and electronics, will have to be purged of sea water and dried salt in the repair process, he said. 'Nearly everything is doable if you are willing to commit the resources and have the human talent to employ it,' Schuster said.
Yahoo
06-06-2025
- Politics
- Yahoo
North Korea refloats destroyer that capsized during launch, surprising naval analysts
North Korea says it has successfully refloated a new destroyer that capsized upon launch last month, with state media reporting the damaged vessel will be moved to a dry dock in a different shipyard for repairs. 'After restoring the balance of the destroyer early in June, the team moored it at the pier by safely conducting its end launching on Thursday afternoon,' a report from the state-run Korean Central News Agency (KCNA) said. A satellite photo taken by Planet Labs on June 5 showed the formerly stricken vessel righted and seemingly floating in water away from the pier where the disastrous launch took place. The 5,000-ton destroyer is the country's newest warship and was meant to be a triumph of North Korea's ambitious naval modernization effort. Instead, a malfunction in the launch mechanism on May 21 caused the stern to slide prematurely into the water, crushing parts of the hull and leaving the bow stranded on the shipway, KCNA reported at the time. A day later, state media reported the damage was not as bad as initially feared. Meanwhile, North Korean leader Kim Jong Un, who witnessed the failed launch in the northeastern city of Chongjin, called it a 'criminal act,' and the government quickly said it arrested four people it claims are responsible for the launch accident. Kim ordered officials to swiftly repair the as-yet-unnamed ship before the late-June plenary session of the ruling Workers' Party, calling it a matter of national honor. KCNA reported Friday that Kim's goal will be met. 'The next-stage elaborate restoration is to be carried out at the dry dock of the Rajin Dockyard for the period of 7-10 days,' KCNA reported, adding that Central Committee Secretary Jo Chun Ryong, who is leading the repair effort, said 'the perfect restoration of the destroyer will be completed without fail' before the plenary meeting. The quick action to refloat the ship surprised analysts, who, based on satellite images of the accident, thought the process would take much longer. 'Sheer manpower and – let's face it – an innovative approach to righting the ship, delivered a solution in two weeks that people like me didn't expect for four to six,' said analyst Carl Schuster, a former US Navy captain. The innovative approach apparently was using aerostatic balloons attached to the ship's hull to help balance and refloat it, satellite imagery showed. Damage to the hull was less severe than analysts expected when they saw what happened on May 21. During the sideways launch, in which the ship was supposed to slide into the water laterally, the stern of the warship slipped into the water while the bow remained on land. Analysts thought the stresses placed on the hull and keel during such an accident could have potentially led to its scrapping. But 'the hull damage must have been significantly less than estimated,' Schuster said. Schuster said if North Korea can devote the same effort to internal repairs to the warship as it did to refloating it, it could be made ready for sea trials much sooner that he would have thought after the accident. Internal spaces of the ship, as well as machinery and electronics, will have to be purged of sea water and dried salt in the repair process, he said. 'Nearly everything is doable if you are willing to commit the resources and have the human talent to employ it,' Schuster said.
CNN
06-06-2025
- Business
- CNN
North Korea refloats destroyer that capsized during launch, surprising naval analysts
North Korea says it has successfully refloated a new destroyer that capsized upon launch last month, with state media reporting the damaged vessel will be moved to a dry dock in a different shipyard for repairs. 'After restoring the balance of the destroyer early in June, the team moored it at the pier by safely conducting its end launching on Thursday afternoon,' a report from the state-run Korean Central News Agency (KCNA) said. A satellite photo taken by Planet Labs on June 5 showed the formerly stricken vessel righted and seemingly floating in water away from the pier where the disastrous launch took place. The 5,000-ton destroyer is the country's newest warship and was meant to be a triumph of North Korea's ambitious naval modernization effort. Instead, a malfunction in the launch mechanism on May 21 caused the stern to slide prematurely into the water, crushing parts of the hull and leaving the bow stranded on the shipway, KCNA reported at the time. A day later, state media reported the damage was not as bad as initially feared. Meanwhile, North Korean leader Kim Jong Un, who witnessed the failed launch in the northeastern city of Chongjin, called it a 'criminal act,' and the government quickly said it arrested four people it claims are responsible for the launch accident. Kim ordered officials to swiftly repair the as-yet-unnamed ship before the late-June plenary session of the ruling Workers' Party, calling it a matter of national honor. KCNA reported Friday that Kim's goal will be met. 'The next-stage elaborate restoration is to be carried out at the dry dock of the Rajin Dockyard for the period of 7-10 days,' KCNA reported, adding that Central Committee Secretary Jo Chun Ryong, who is leading the repair effort, said 'the perfect restoration of the destroyer will be completed without fail' before the plenary meeting. The quick action to refloat the ship surprised analysts, who, based on satellite images of the accident, thought the process would take much longer. 'Sheer manpower and – let's face it – an innovative approach to righting the ship, delivered a solution in two weeks that people like me didn't expect for four to six,' said analyst Carl Schuster, a former US Navy captain. The innovative approach apparently was using aerostatic balloons attached to the ship's hull to help balance and refloat it, satellite imagery showed. Damage to the hull was less severe than analysts expected when they saw what happened on May 21. During the sideways launch, in which the ship was supposed to slide into the water laterally, the stern of the warship slipped into the water while the bow remained on land. Analysts thought the stresses placed on the hull and keel during such an accident could have potentially led to its scrapping. But 'the hull damage must have been significantly less than estimated,' Schuster said. Schuster said if North Korea can devote the same effort to internal repairs to the warship as it did to refloating it, it could be made ready for sea trials much sooner that he would have thought after the accident. Internal spaces of the ship, as well as machinery and electronics, will have to be purged of sea water and dried salt in the repair process, he said. 'Nearly everything is doable if you are willing to commit the resources and have the human talent to employ it,' Schuster said.
Yahoo
31-05-2025
- General
- Yahoo
North Korea deploys mystery balloon-like objects to stricken warship, satellite photos show
New satellite images show that North Korea has deployed what appear to be balloons alongside its damaged 5,000-ton warship that has been laying on its side and partially submerged since a botched launch last week. While the purpose of the objects is unclear, experts told CNN they could be used to help get the ship back upright, or protect it from the prying eyes of drones. The stricken destroyer was the country's newest warship and was meant to be a triumph of North Korea's ambitious naval modernization effort. Instead, a malfunction in the launch mechanism on May 21 caused the stern to slide prematurely into the water, crushing parts of the hull and leaving the bow stranded on the shipway, state media KCNA reported, in a rare admission of bad news. North Korean leader Kim Jong Un, who witnessed the failed launch in the northeastern city of Chongjin, called it a 'criminal act' and ordered the country to swiftly repair the as-yet-unnamed ship before the late-June plenary session of the ruling Workers' Party, calling it a matter of national honor. Officials have since scrambled to undo the damage and punish those they claim are responsible, detaining four people in recent days, including the shipyard's chief engineer. Analysts say it appears balloons are being used in North Korea's effort to swiftly repair the destroyer. 'It looks like what appear to be balloons have been installed not to refloat the ship, but to prevent the ship from further flooding,' said Rep. Yu Yong-weon, a South Korean National Assembly lawmaker and military analyst. Retired United States Navy Cpt. Carl Schuster said if the objects are indeed balloons, they could have one of two purposes – either to prevent 'low- to mid-level drone reconnaissance,' or to reduce the stress on the part of the ship still stranded on the pier. 'That is the area that is most likely to have been damaged, suffered the most severe damage and remains under intense stress while the forward area remains out of the water,' he said. Nick Childs, senior fellow for naval forces and maritime security at the International Institute for Strategic Studies, said North Korea could be in danger of further damaging the ship if it's using balloons to keep it afloat or raise it. 'It is highly likely that the ship is under quite a lot of stress anyway,' and lifting from above could compound those stresses, he said. Normal procedure would be to get as much buoyancy as possible in the ship and then raise it from below, Childs said. According to satellite images shared by Maxar Technologies, more than a dozen white, balloon-like objects have been deployed around the destroyer since May 23. Based on the objects' shape and what appear to be tail fins, they could be smaller versions of what are known as aerostat aircraft, balloons with a slight resemblance to dirigibles, defense experts told CNN. Like blimps, dirigibles get buoyancy from a lifting gas that allows them to float in air or in water. The images don't appear to show any flotation bladders supporting the hull or the body of the ship, Schuster said – something the US might use in such a situation. He added that North Korea's maritime industry might not be advanced enough for such techniques. North Korean state media had previously reported that the damage was less severe than initially feared, and that there were no holes in the hull, though it was scratched along the side and some seawater had entered the stern. It estimated repairs could take about 10 days – though analysts are skeptical. Schuster had previously told CNN that repair work could take up to six months, depending on how far the hull damage extends, how much water entered the warship, and how much 'salt crust' might have formed on metal surfaces such as joints. The ship's precarious position also makes the salvage operation unusually complex. 'Having it half in and half out of the water is basically the worst possible situation,' said Decker Eveleth, an associate research analyst at CNA, a nonprofit specializing in defense research. He added that the operation would be simpler if the ship had fully capsized into the water, or if it had fallen over entirely on land. 'But as it's half on land and half on water – if you try to pull the sunken half out, you're risking twisting and breaking the keel,' Eveleth said, referring to the structural spine running along the ship's bottom. 'And if you do that, the whole ship is junk.' Childs said North Korea may have to cut the ship into pieces and then try to salvage what it can because righting it from its current position is an extremely complex task. 'Very often the only way you clear the dock … is to dismantle at least part of the ship to make the operation easier, right what you have left and tow it away and make a decision on whether you rebuild it or scrap it,' he said. CNN's Jessie Yeung contributed to this report.
