U.S. Navy awards General Dynamics $116 million for VPM

General Dynamics Electric Boat has been awarded a $116 million contract modification for the continued development of the Virginia Payload Module (VPM). Electric Boat is a wholly owned subsidiary of General Dynamics (NYSE: GD), the Group said in a press release.

The VPM will comprise four large-diameter payload tubes in a new hull section to be inserted in Virginia-class submarines, boosting strike capacity by 230 percent.

General Dynamics is a market leader in business aviation; combat vehicles, weapons systems and munitions; shipbuilding and marine systems; and mission-critical information systems and technology.