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Anduril nets $2.9 billion US Navy submarine shipyard contract — days after CEO Palmer Luckey signs up to Pentagon…

Anduril wins a Navy contract worth up to $2.9 billion for submarines
Palmer Luckey joined Project Meridian days before Anduril received its Navy contract
Anduril will invest $3.7 billion of its own money in the shipyard

Anduril has secured a US Navy agreement worth as much as $2.9 billion, linking the defense technology company to submarine manufacturing.

The award arrives shortly after co-founder Palmer Luckey joined a Pentagon initiative examining technologies intended for future military operations.

Project Meridian also includes Elon Musk and former House Speaker Newt Gingrich, while SpaceX and Anduril both work with the federal government.

New capacity for submarine production

Anduril plans to spend $3.7 billion developing a manufacturing complex at Tradepoint Atlantic in Baltimore County, Maryland.

The proposed Arsenal-2 site will cover 187 acres and more than two million square feet when construction and expansion are complete.

Operations are expected to begin in 2030, with the...

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New capacity for submarine production

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