General Dynamics was officially incorporated in Delaware on April 24, 1952, when the shareholders of Electric Boat Corporation, a company based in Washington and New York States, followed the recommendation of its president and chief executive officer, John Jay Hopkins, and voted to change the company's name. Hopkins felt the name change was necessary because Electric Boat was no longer only a shipbuilder and had diversified its business after World War II.
The Electric Boat Company, was founded in 1899 and built the Holland, the first submarine purchased by the U.S. Navy, in 1900.
By 1984, General Dynamics had four divisions: Convair in San Diego, General Dynamics-Fort Worth, General Dynamics-Pomona, and General Dynamics-Electronics. In 1985 reorganization created the Space Systems Division from the Convair Space division. In 1985, GD also acquired Cessna.
In late 1987, teamed with McDonnell Douglas, General Dynamics received the contract for the stealth A-12 naval strike aircraft. The A-12 had a fixed $4.8-billion development budget and a strict timetable. The program experienced serious delays and development was canceled in January 1991.
Starting in the mid-1990s, General Dynamics began expanding by acquiring Gulfstream Aerospace Corporation, combat-vehicle-related businesses, IT product and service companies and additional shipyards, forming the foundation of the company today.
In 2001, General Dynamics Aerospace Division produces the Gulfstream V, V-SP, G200, and G100 and provides aviation services in avionics, airframes, engines, and refurbishments.
In 2008, General dynamics make a deal to buy AxleTech International. AxleTech makes axles, suspensions, brakes and aftermarket parts for military vehicles, trucks and off-highway machines. The company provides service and support to customers around the world through an extensive network of reliable partners in Europe, Asia, Africa, the Middle East, South America and Australia.
In 2019, General Dynamics won the largest Navy contract ever awarded, a $22.2 billion multiyear order to build nine nuclear-powered, fast-attack Virginia-class submarines, with a $2 billion option to build a 10th submarine.
In December 2020 General Dynamics has been awarded a $100.04M, firm-fixed-price contract for the execution of the USS Comstock fiscal 2021 Chief of Naval Operations scheduled docking selected restricted availability. USS Comstock is a Whidbey Island-class dock landing ship of the United States Navy.
History of defense contractor General Dynamics
