Mike Petters: HII in Competition for Navy’s Aircraft Carrier, Destroyer, Submarine Devt Programs

Mike Petters

Mike Petters, president and CEO of Huntington Ingalls Industries, has said the company has proposals to construct two aircraft carriers, 10 submarines and 10 destroyer ships for the U.S. Navy, USNI News reported Thursday.

“This is the most exciting time I’ve seen in shipbuilding in 30 years,” Petters said Thursday at the company’s earnings call for the second quarter of 2018.

He cited a two-year budget deal that aims to increase defense spending for fiscal years 2018 and 2019 and its impact on shipbuilding efforts.

“This two-year window is really special for shipbuilding. … Our view is that a lot of the work we’re going to get under contract before ‘20 puts us in a pretty unique place,” Petters added.

He noted that the Navy has started to assess offers for a guided-missile frigate and is expected to award a contract in 2020.

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