General Dynamics Bags ~$769M US Army Contract To Build Combat Vehicles

General Dynamics Corp GD business unit, General Dynamics Land Systems, has been selected by the U.S. Army to advance to the detailed design and prototype build and test phases of the XM30 Mechanized Infantry Combat Vehicle competition.

The U.S. Army Contracting Command awarded a $768.7 million firm-fixed-price contract for Phase III and IV detailed design and prototype build and testing.

Formerly known as the Optionally Manned Fighting Vehicle (OMFV), the XM30 is the Army's next generation infantry fighting vehicle developmental program slated to replace the Bradley Fighting Vehicle. 

"Our XM30 was designed from its inception in our digital engineering environment, allowing efficient and agile integration of transformative capabilities on a platform that embodies the Army's vision for the Ground Combat Systems Common Infrastructure Architecture (GCIA)," said Gordon Stein, vice president and general manager of U.S. operations at General Dynamics Land Systems.

Price Action: GD shares closed at $212.06 on Tuesday.