Strong Contract Awards
In 2024, the company secured $12 billion in new awards, resulting in a year-end backlog of $49 billion, with $27 billion funded. This reflects strong demand for Huntington Ingalls Industries' products and services.
Mission Technologies Growth
Mission Technologies achieved a 9% revenue growth year over year, with significant contract wins, including a $6.7 billion contract with the US Air Force. This segment's performance aligns with national security needs.
Operational Milestones in Shipbuilding
Significant milestones were achieved in shipbuilding, including the delivery of the USS Richard M. McCool Jr. and the launch of LPD 30 Harrisburg. The company continues to progress on the DDG and Virginia class programs.
Revenue and Earnings Growth Expectation
The company anticipates growing to $15 billion in annual revenue by 2030, with associated margin expansion and free cash flow growth.
Hiring and Workforce Development
The company exceeded its hiring goal of 6,000 craft personnel in 2024, with plans to continue increasing employment at its Charleston operations.