Britain's premier military firm, BAE Systems, has been awarded a monumental $4.82 billion contract. The undertaking? To create a state-of-the-art generation of submarines as part of the evolving Aukus security pact between the US, UK, and Australia.

Britain has awarded BAE Systems a 4 billion pound ($4.9 billion) contract as part of the AUKUS programme with Australia and the United States to build attack submarines, defence minister Grant Shapps and the company said on Sunday.

BAE Systems has been awarded a near-£4 billion contract by the British government for the next phase of its nuclear-powered attack submarine program, part of a security pact between the U.S., U.K. and Australia.

Britain's biggest defence firm, BAE Systems, has won a £3.95bn ($4.82bn) contract to build a new generation of submarines as the security pact between the US, UK and Australia moves ahead. In March, the three countries announced details of the so-called Aukus pact to provide Australia with nuclear-powered attack submarines by the late 2030s.