Huntington Ingalls Industries (HII), The Defense shipbuilding company, successfully develops sales into a new innovative segment. She recently announced that additional unmanned underwater vehicles would be delivered to the US Navy.
In preparation for its current mission, the Navy has ordered two REMUS 300s. The US Navy used such drones to find underwater mines during the 2003 military operation in Iraq. Small dimensions are one of the unique features of the REMUS 300. It is even possible to drop them from Rigid Inflatable Boats (RIBs) found on any civil or naval vessel.
REMUS 300TM can dive to 300 meters while operating autonomously for up to 30 hours. The REMUS technology was initially developed in Norway, and Huntington Ingalls assumed ownership of it from the defense giant Kongsberg Gruppen in 2012.
Huntington Ingalls Industries (HII) is taking a step in the right direction with this initiative. In addition to developing the REMUS unmanned submarine, this company works with Boeing to develop the larger Proteus underwater unmanned system.
A market for unmanned vehicles like these will grow as demand for them increases. Working underwater is associated with a high degree of risk to life, despite the technological advances over the years. The prospect of working for an extended period at great depths is extremely dangerous or impossible. As a result, Huntington Ingalls can grow in the “unmanned” segment over time.
Huntington Ingalls Industries (HII) shares rose 0.42% to trade at $212.78 in the current market at the last check. The closing price of HII’s stock in the previous session was $211.88. Its stock volume remained at 0.52 million shares, higher than the 0.3 million shares averaged over the last 50 days. HII shares have gained 3.33% over the last year, and they have fallen -0.19% in the past week. Its price has gained 16.13% in three months, and in six months, it has risen 28.87%. Additionally, the company has a market value of $8.52 billion and 40.20 million outstanding shares.