WASHINGTON โ€• General Dynamics is investing about $2 billion into its shipyards in the coming years to meet the demands of a growing U.S. fleet, the companyโ€™s top executive said Wednesday during an earnings call.

โ€œIn response to the significant increased demand from our Navy customer across all three of our shipyards, weโ€™re investing in each of our yards,โ€ said Phebe Novakovic, GDโ€™s chief executive officer.

The company is planning to spend about $1.7 billion at its Electric Boat yard in Connecticut as it ramps up for the next iteration of the Virginia-class attack submarines, the Block V, as well as the Columbia-class ballistic missile submarine.

The Block V includes the Virginia Payload Module, a new section inserted into the ship that gives the Virginia-class sub the capacity for up to 40 vertically launched Tomahawk missiles.

โ€œBlock V is a significant upgrade in size and performance requiring additional manufacturing capacity,โ€ she said.

General Dynamics is currently working on the detailed designs for the Columbia-class sub, the first of which the Navy is planning to buy in 2021, with advanced procurement beginning in 2019. Columbia is the replacement for the aging Ohio-class submarines.

The company is also investing $200 million between Bath Iron Works in Maine, which builds destroyers, and NASSCO in San Diego, California, which builds auxiliary ships, Novakovic said.

โ€œSo suffice it to say, we are poised to support our Navy customers as they increase the size of the fleet,โ€ she said.

The Navy is weighing options to keep producing two Virginia-class subs per year, even during years that the Navy purchases a Columbia. The previous shipbuilding plan called for just one during Columbia years.