BWX Technologies Inc (BWXT) is a specialty manufacturer of nuclear components. The company designs, engineers, and manufactures precision naval nuclear components, reactors, and nuclear fuel for the US Government. It also provides special nuclear material processing and environmental site restoration services; medical radioisotopes and radiopharmaceuticals and other technical, management and site services to support governments in the operation of complex facilities and environmental remediation activities. BWXT operates through two reportable segments: Government Operations and Commercial Operations.

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The company’s R&D efforts focus on the development and improvement of new and existing products and equipment, besides conceptual and engineering evaluation for translation into practical applications. The company engages in various research and development projects including the creation of isotopes, medical chemicals, and advanced technologies in fields such as space, nuclear power and manufacturing. These projects are funded both internally and by commercial and government clients. In FY2022, it spent US$45.4 million on R&D, which as a percentage of revenue, stood at 2.03% and grew 44.6% YoY.