US BWXT in Discussions with Naval Reactors on Proposed Nuclear-Powered Warship Reactor Design

BWX Technologies is in preliminary discussions with the U.S. Naval Reactors program regarding a proposed nuclear-powered warship. According to company CEO Rex·Geveden during the Q2 2026 earnings call, the project could begin long-lead procurement as early as 2028 if approved and funded by the U.S. Congress.

Image credit: U.S. Navy.

Geveden stated that the design could leverage the existing reactor design used in Ford-class aircraft carriers. Each Ford-class carrier is equipped with two large reactors, while the proposed warship could use one reactor of the same type. Given BWXT's existing naval propulsion systems business, this approach connects relatively directly with the company's current manufacturing capabilities, which Geveden described as similar to a “plug-and-play” arrangement from a manufacturing perspective.

Under the current direction of discussions, BWXT would be responsible for manufacturing key components including reactor fuel, steam generators, reactor pressure vessels, and core barrels. This work could be carried out using the company's existing Ford-class reactor and fuel production lines, without the need to establish a separate manufacturing system.

Geveden also noted that funding for studying the ship design has been included in the FY2027 budget authorization. However, BWXT will not participate in the ship design work, which will remain the responsibility of the shipyard. As the project remains in its early stages, further progress will depend on additional authorizations and appropriations.

If the project moves into the implementation phase, initial supplier activities could begin as early as 2028 in the form of long-lead orders, driving production at BWXT's relevant facilities. Geveden stated that the reactor design could be integrated into the company's existing capacity system and bring additional workload to the manufacturing side.

In addition to the proposed nuclear-powered warship project, adjustments to the U.S. Navy's aircraft carrier procurement plan could also impact BWXT's business. Geveden stated that the Navy's updated shipbuilding plan proposes shortening the Ford-class carrier ordering cycle from five years to four years, which would reduce production intervals and enable BWXT to simultaneously manufacture two sets of carrier reactor components at its facilities, potentially improving manufacturing stability, order predictability, and production efficiency from around 2028 onward.

Geveden believes that both the proposed nuclear-powered warship concept and the faster Ford-class carrier construction cycle could create growth opportunities for BWXT's naval nuclear power business. In comparison, even if the warship project proceeds, the four-year-cycle Ford-class carrier procurement arrangement is still considered to present a larger business volume opportunity.