Ingalls Gets $2.9 Billion Contract To Build New Warship

Ingalls Shipyard has a new $2.9 billion contract with the United States Navy.

Northrop Grumman's Pascagoula shipyard will build the prototype for the Navy's new family of warships, the DD-X series vessel. The DD-X is part of the military's effort to transform itself into a smaller, more responsive fighting force. The ships will require fewer members, and they will be harder to spot by enemy weapons.

Construction on the first ship should begin in the year 2005.

Partnered with Raytheon Corporations, Ingalls won the contract over its chief competitor, Bath Iron Works in Maine. However, long term plans call for the two shipyards to split the work.

Ingalls immediate plans do not call for hiring any additional personnel.