"Navy Secures Five-Year Contracts for Nine Arleigh Burke Destroyers"

The U.S. Navy has awarded multiyear procurement contracts for nine Arleigh Burke class destroyers, with six going to HII's Ingalls Shipbuilding and three to General Dynamics' Bath Iron Works. The contracts cover fiscal years 2023 through 2027 and include options for additional ships. The value of the contracts was not disclosed. The cost of the ships has increased since the previous contract, with the Navy planning to spend $7.87 billion in FY23 for three ships. The multiyear procurement approach is expected to save $830 million.