The U.S. Navy has funded construction by Huntington Ingalls Industries of an Arleigh Burke-class (DDG 51) Aegis guided missile destroyer.

The DDG 121 is the third of five DDG 51 destroyers the company was awarded in June 2013. The funding -- $604.3 million -- comes under a contract modification.

"The DDG 51 program has been the backbone of Ingalls Shipbuilding for the past three decades," said DDG 51 Program Manager George Nungesser. "We now have a hot production line in the shipyard where we can maintain our highly skilled shipbuilding crews in the same working areas for each ship. This will allow increased learning and provide the most efficient way to reduce cost and schedule while building quality ships for the United States Navy."

Ingalls said the five-ship contract it had received allows for more efficiency in construction through bulk buying of materials and by moving its workforce from ship to ship.

A total of 28 Arleigh Burke-class destroyers have been delivered to the Navy by Ingalls. Four destroyers are under construction.