General Dynamics' Marine Systems backlog more than doubles to $146.9 billion

General Dynamics' board chose a 25-year company veteran whose two promotions in 2025 took him from running one business group to a companywide brief.^1–4 Novakovic will move from chairman and CEO to executive chairman of the board when Deep takes over a company that generated $52.6 billion in revenue in 2025.^1–2

Danny DeepChief Executive Officerplanned

effective January 1, 2027

Phebe N. NovakovicExecutive Chairmanplanned

after serving as CEO since 2013

President of the Company since December 2025

Source: General Dynamics release and Form 8-K, Oct. 7, 2026

Sources

• www.gd.com ↗
• www.sec.gov ↗

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Deep was president of General Dynamics Land Systems from April 2020 to April 2024, then executive vice president of Combat Systems.² In June 2025, GD made him executive vice president of Global Operations, and Novakovic said he would "focus on improving operating performance across each of the company's business units."³ He became president that December and joined the board on Aug. 5, 2026.^{2, 4}

The company Deep will run has a second leadership change under way, at General Dynamics Information Technology (GDIT). On Oct. 2, GD said Amy Gilliland, GDIT's president since 2017, is no longer with the company. Paul Nedzbala, GDIT's senior vice president and chief business officer, was appointed acting president.⁵

Firehawk Defense raised more than $150 million in a Series D co-led by Rochefort Asset Management and Advent International, Rochefort announced Oct. 29. The Dallas company produces solid rocket motor propellant and Hydra-70 rocket motors and is developing 155mm artillery base bleed motors.¹

More than $150 millionFirehawk Series D financing

740,000 pounds per yearExpected Lawton propellant output

Rochefort said the Lawton plant is expected to commission in early 2027. Series D proceeds will support continued build-out at Lawton and Crawford.

Source: Rochefort Asset Management release. As of Oct. 29, 2026.

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Rochefort said the proceeds will fund continued expansion of Firehawk's Lawton, Oklahoma, production facility and Crawford, Mississippi, missile integration facility, and accelerate production for U.S. and allied customers. Firehawk Chief Executive Officer Will Edwards described the financing as a transition from proving the company's technology to producing it at scale.¹

The investment follows a senior secured loan Rochefort provided in April 2026.¹ Defense One reported that the round valued Firehawk at more than $1.4 billion.²

Firehawk holds a U.S. Air Force solid rocket motor development contract. Rochefort reported that Firehawk completed a Hydra-70 live-fire test in August 2026 following a U.S. Army Other Transaction Authority award. The announcement gave no dollar values or unit quantities for either agreement.¹

A teaming arrangement with General Dynamics Ordnance and Tactical Systems positions Firehawk to supply base bleed motors for international demand, with a parallel path to U.S. qualification, Rochefort said.¹