General Dynamics Corporation (GD) Secures Major Navy Contract as Defense Spending Ramps Up

General Dynamics Corp (NYSE:GD) is one of the defense & aerospace stocks gaining from rising geopolitical spending. On January 12, General Dynamics Corp (NYSE:GD) confirmed that its information technology unit has secured a $988 million contract for the Ship and Air Command, Control, Communications, Computers, Combat, Intelligence, Surveillance, and Reconnaissance (C5ISR) Systems Support (SACSS).

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The contract is for modernizing the US Navy’s fleet systems, including command, control, and surveillance technologies. It will also cover guided missile ships, aircraft carriers, and coastal guard vessels while integrating C5ISR systems to enhance operational effectiveness.

The contract underlines GDIT’s decades of experience in delivering mission-critical services to the Navy. It already supports the development of advanced electronic warfare technologies and training services.

Meanwhile, on January 8, UBS reiterated a Neutral rating on General Dynamics and a $381 price target, impressed by the company’s strong position in the aerospace and defense industry. The research firm has echoed the 25 G700 and 10 G800 planes that have completed flights but have yet to be delivered to customers. The figure is a few units higher than the same period last year.

General Dynamics Corporation (NYSE:GD) is a global aerospace and defense giant that designs, develops, and manufactures high-tech military equipment like nuclear submarines, combat vehicles, and command systems, while also producing luxury Gulfstream business jets and providing IT/C4ISR solutions for defense and commercial sectors, spanning aerospace, marine, combat systems, and technology.

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Disclosure: None. This article is originally published at Insider Monkey.