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Huntington Ingalls Industries Inc.  (HII)
Other Ticker:  
 
    Sector  Capital Goods    Industry Aerospace & Defense
   Industry Aerospace & Defense
   Sector  Capital Goods

Huntington Ingalls Industries Inc's

Competitiveness


 

HII Sales vs. its Competitors Q2 2022



Comparing the results to its competitors, Huntington Ingalls Industries Inc reported Total Revenue increase in the 2 quarter 2022 by 19.32 % year on year.
The sales growth was above Huntington Ingalls Industries Inc's competitors average revenue growth of 0.45 %, recorded in the same quarter.

List of HII Competitors

With net margin of 6.69 % company reported lower profitability than its competitors.

More on HII Margin Comparisons



Revenue Growth Comparisons




Net Income Comparison


Huntington Ingalls Industries Inc. Net Income in the 2 quarter 2022 grew year on year by 37.98 %, while most of its competitors have experienced contraction in net income by -0.64 %.

<<  More on HII Income Comparisons


Huntington Ingalls Industries Inc's Comment on Competitors and Industry Peers


In our primary business of designing, building, overhauling, and repairing military ships, we primarily compete with General Dynamics and, to a lesser extent, smaller shipyards, one or more of which could team with a large defense contractor. Intense competition related to programs, resources and funding, and long operating cycles are key characteristics of both our business and the shipbuilding defense industry in general. It is common industry practice to share work on major programs among a number of companies. A company competing to be a prime contractor may, upon ultimate award of the contract to another party, become a subcontractor for the prime contracting party. It is not uncommon to compete for a contract award with a peer company and, simultaneously, perform as a supplier to or a customer of such competitor on other contracts. The nature of major defense programs, conducted under binding contracts, allows companies that perform well to benefit from a level of program continuity not common in many industries.

We believe we are well-positioned in the market. Because we are the only company currently capable of building, refueling and defueling the U.S. Navy's nuclear-powered aircraft carriers, we believe we are in a strong competitive position to be awarded each contract to perform such activities. Even so, the government periodically revisits whether refueling of nuclear-powered aircraft carriers should be performed in private or public facilities. In this regard, the National Defense Authorization Act for Fiscal Year 2012 ("2012 Act") required DoD to develop a core depot level maintenance capability to refuel nuclear aircraft carriers. The National Defense Authorization Act for Fiscal Year 2013 ("2013 Act") modified the 2012 Act by restoring an exception for the nuclear refueling of an aircraft level maintenance. The 2013 Act also amended and clarified the exception to cover the concurrent refueling and overhaul of an aircraft carrier, as well as the defueling of an aircraft carrier. Similarly, the 2013 Act restored an exclusion for nuclear aircraft carrier programs from the definition of core logistics capabilities that was found in previous law.

We are currently the only builder of large deck amphibious assault and expeditionary warfare ships for the U.S. Navy, including LHAs and LPDs, and are positioned to be awarded future contracts for these types of vessels. We are also the sole supplier of NSCs for the U.S. Coast Guard, and are positioned to be awarded future contracts for these types of vessels. We are one of only two companies currently designing and building nuclear-powered submarines for the U.S. Navy, and we are party to a long-term teaming agreement with the other company for the production of such vessels. We are one of only two companies that builds the U.S. Navy's current fleet of DDG-51 Arleigh Burke-class destroyers and are positioned to be awarded future contracts for these types of ships as well.

Our success in the shipbuilding defense industry depends upon our ability to develop, market and produce our products and services at a cost consistent with the U.S. Navy's budget, as well as our ability to provide the workforce, technologies, facilities, equipment and financial capacity needed to deliver those products and services with maximum efficiency.

We compete with a variety of companies in the provision of engineering services in the energy and oil and gas markets.





  

Overall company Market Share Q2 2022

Overall company sales advanced by 19.32 % Huntington Ingalls Industries Inc outperformed its competitors in this segment and improved market share, to approx. 12.57 %.
<<  More on HII Market Share.
 
*Market share is calculated based on total revenue.


HII's vs. Competition, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)


COMPANY NAME MARKET CAP
(in millions of $)
REVENUES
(in millions of $)
INCOME
(in millions of $)
EMPLOYEES
Huntington Ingalls Industries Inc. HII 8,882.15 10,253.00 585.00 42,000
General Dynamics Corporation GD 59,099 38,441.00 3,308.00 100,700
Northrop Grumman Corp NOC 73,370 34,957.00 5,674.00 97,000
The Manitowoc Company Inc. MTW 276 1,858.50 14.40 12,300
Gulf Island Fabrication Inc. GIFI 73 74.82 -5.08 1,178
SUBTOTAL 141,699.97 85,584.32 9,576.33 253,178
       
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