US nuclear energy and fuel sector expansion

The United States nuclear energy sector is experiencing growth across both defense and commercial applications. Companies such as BWX Technologies continue to play a central role in naval propulsion, serving as the exclusive supplier of nuclear fuel and reactor components for the U.S. Navy.

In the commercial sector, there is an increasing focus on advanced reactor technologies. Centrus Energy has emerged as a key supplier of low-enriched uranium and high-assay low-enriched uranium (HALEU), which is necessary for smaller reactor designs. Centrus recently secured a $900 million contract from the U.S. Department of Energy to provide HALEU, contributing to a growing contract backlog.

As the U.S. moves toward a complete ban on Russian uranium by 2028, domestic companies are working to support energy independence. This includes restarting low-enriched uranium operations in Ohio. While next-generation firms like NuScale Power and Oklo are developing small modular and microreactor technologies, established suppliers are currently providing the essential infrastructure and fuel required for this sector expansion.