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MCLEAN, Va. - HII (NYSE: HII), recognized as the largest shipbuilder in the United States and commanding a market capitalization of $8.06 billion, has achieved a significant milestone by selling more than 700 REMUS uncrewed underwater vehicles (UUVs) worldwide. These sales bolster HII’s standing as the leading producer of such advanced maritime technology. According to InvestingPro data, the company has maintained strong financial performance with annual revenues of $11.54 billion.
The REMUS UUVs, known for their versatility, are employed in a variety of naval operations, including intelligence, surveillance, reconnaissance (ISR), mine countermeasures, anti-submarine warfare, and electronic warfare. They are designed to function either autonomously or in conjunction with crewed platforms, such as Virginia-class nuclear submarines, enhancing capabilities while mitigating risks to personnel.
The durability of the REMUS platform is evidenced by the fact that over 90% of the UUVs delivered in the last 23 years are still operational. This longevity indicates the adaptability of the vehicles to incorporate evolving technologies and maintain relevance in modern naval operations.
HII’s REMUS UUVs have seen deployment across the globe, from mine clearance operations in the Persian Gulf to NATO exercises in the North Sea, and surveillance missions in the Indo-Pacific region. The advanced sonar and sensor technologies onboard these systems have been instrumental in providing naval forces with a tactical advantage in contested areas.
In addition to the REMUS sales, HII is currently manufacturing small uncrewed undersea vehicles (SUUVs) for the U.S. Navy’s Lionfish System program. The contract, which could expand to 200 vehicles over five years, is valued at over $347 million. The Lionfish System, based on the REMUS 300 model, is a highly portable SUUV featuring an open architecture and modular payload options. InvestingPro analysis shows HII maintains profitable operations with a P/E ratio of 14.66, while consistently rewarding shareholders through 13 consecutive years of dividend increases.
The REMUS 300 was notably the first Defense Innovation Unit competitive selection to transition to a program of record, chosen as the U.S. Navy’s next-generation SUUV. This transition underscores the proven performance of HII’s uncrewed systems in global operations.
HII’s commitment to innovation in the field of autonomous undersea warfare is set to continue as the company addresses the intensifying undersea challenges faced by naval forces around the world. The sale of over 700 REMUS vehicles is a testament to HII’s role as a trusted partner in naval innovation and its leadership in the development of uncrewed systems. InvestingPro’s Fair Value analysis indicates HII is currently undervalued, with additional insights available in the comprehensive Pro Research Report, which provides deep-dive analysis of this and 1,400+ other US stocks.
This report is based on a press release statement from HII.
In other recent news, HII has been awarded a $147 million contract to provide comprehensive training support services to the U.S. Navy. This five-year agreement involves tasks like installation, certification, and testing of training systems, essential for maintaining the Navy’s combat readiness. Additionally, HII has secured a $182 million contract to support the U.S. Air Force with logistics for F-16 pilot training devices, emphasizing the importance of high-quality training for combat readiness. Meanwhile, HII has been selected to develop a High-Energy Laser weapon system prototype for the U.S. Army, aimed at neutralizing unmanned aircraft systems. This prototype will undergo field testing, with successful demonstrations potentially leading to production. In the broader defense landscape, Stephen Feinberg has been confirmed as the Deputy Secretary of Defense, highlighting opportunities to improve the Department of Defense’s cost structure and efficiency. Furthermore, President Donald Trump announced initiatives to revitalize the U.S. shipbuilding industry, which has seen a decline compared to China’s dominance in the sector. These developments underscore HII’s ongoing commitment to advancing U.S. national security through various defense contracts and initiatives.
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