Leonardo DRS awarded contracts valued over $3B for U.S. Navy’s submarine program

Leonardo DRS (DRS) has been awarded contracts valued at over $3B, 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 (GD) 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.”