Anduril Wins $2.9 Billion Navy Submarine Contract, Plans $3.7 Billion Baltimore Shipyard

Anduril Industries said Tuesday it won a U.S. Navy contract worth up to $2.9 billion to support submarine production, pairing it with a $3.7 billion private investment to build a shipyard in Baltimore County, Maryland. The facility, named Arsenal-2, is designed to exceed 2 million square feet and is targeted to open in 2030, focusing on Virginia-class submarine components. A separate 160,000-square-foot site in Orange County, California, will handle additional parts. Anduril projects 3,100 jobs and $2 billion in annual regional economic impact. Virginia-class construction is currently led by General Dynamics Electric Boat and Huntington Ingalls Industries; General Dynamics secured a $76.6 billion Navy shipbuilding award earlier this year. Anduril said it reported $2.2 billion in prior-year revenue and raised $5 billion at a $61 billion valuation.