Nuclear energy companies expand roles in defense and commercial sectors

The nuclear energy sector is seeing increased activity across defense and commercial applications. BWX Technologies remains a central player in naval propulsion, serving as the exclusive supplier of nuclear fuel and reactor components for the U.S. Navy. The company has delivered 420 compact naval reactors over five decades and recently secured contracts totaling $1.4 billion for the Naval Nuclear Propulsion Program.

In the commercial space, Centrus Energy is positioned as a key supplier of low-enriched uranium and high-assay low-enriched uranium (HALEU), which is essential for smaller reactor designs. Centrus reported a contract backlog of $3.0 billion at the end of the second quarter of 2026.

Other companies involved in the evolving energy landscape include NuScale Power, which develops small modular reactor (SMR) technology for electricity generation and hydrogen production, and Oklo, which is working toward microreactor deployment. While next-generation firms like Oklo and NuScale face long-term timelines for commercial operations, established suppliers are currently providing the infrastructure and fuel necessary for the sector's expansion.