According to CNBC, Anduril Industries won an up to $2.9 billion U.S. Navy contract on Tuesday to boost submarine production, and the company said it will invest $3.7 billion in a new shipyard in Baltimore County, Maryland, called Arsenal-2. The more than 2 million-square-foot facility is slated to begin operations in 2030 and will build components for the Virginia-class submarine, with some parts made at a 160,000-square-foot site in Orange County, California. Anduril said the new site will generate $2 billion in annual economic output and create 3,100 jobs. The deal came days after the Department of Defense named Anduril co-founder Palmer Luckey to Project Meridian, a new initiative to identify and develop capabilities for future U.S. conflicts.