Mission Technologies solidified its position as “the growth engine for HII” in 2024. The division’s revenues rose from $2.69 billion in 2023 to $2.93 billion in 2024—an increase of 8.8%—and for the first time, Mission Technologies accounted for more than 25% of HII’s annual revenue.
“Mission Technologies continued its strong track record of top-line growth and margin expansion and secured an impressive $12 billion in total future contract value during 2024,” HII President and CEO Chris Kastner said in a news release announcing fourth quarter and full-year financial results. “We enter 2025 focused on our mission to deliver the world’s most powerful ships and all-domain solutions in service of the nation.”
On the earnings call with investors, Kastner added: “This positive performance reflects Mission Technologies’ continued alignment with our country and our allies’ national security strategies. … In summary, the Mission Technologies team is executing well, and we are confident in its ongoing success, particularly given how closely its portfolio maps to our defense customers’ needs.”
GovConWire’s coverage attributed the increase in Mission Technologies’ revenues to “higher volumes in C5ISR and cyber, electronic warfare and space contracts.” The story also noted several operational improvements, including the division’s realignment from six business units to four.
For more information, read Kastner’s message to HII employees.
