Oceanetics Inc.

Oceanetics Inc., doing business as Truston Technologies, is an SBA-certified HUBZone and service-disabled veteran-owned small business based in Annapolis, Maryland, that manufactures maritime infrastructure equipment and delivers engineering and logistics support services to the Department of the Navy and Coast Guard as a prime contractor (100% of recent awards) under full-and-open competition and multiple set-aside vehicles. The company is a Subchapter S corporation classified as a veteran-owned, service-disabled veteran-owned manufacturer and small business.

Oceanetics' federal portfolio centers on waterborne security barriers, mooring systems, subsea cable infrastructure, vessel repair and maintenance, and maritime engineering design across Navy commands and the Coast Guard. The company's concrete capability framing spans waterborne barrier refurbishment and installation, mooring system sustainment and repair, subsea telecommunications cable procurement and testing, vessel repair coordination, geotechnical surveys, pad and structural design, and specialized maritime logistics support. Representative recent awards include a $55.7 million cost-plus-fixed-fee vessel repair task order for the M/V Petrel issued by Naval Facilities Engineering Command in August 2024 (with subcontractors including Harland and Wolff Belfast, ABB Marine, and Kongsberg Maritime for electrical, propulsion, and structural work), a $199 million five-year indefinite-delivery contract from Naval Sea Systems Command awarded July 2025 for waterborne security barriers sustainment and installation support worldwide, and a $3.3 million cost-plus-fixed-fee task order from Naval Facilities Engineering Command in July 2025 for the HYDROPHIS installation test at Port Hueneme, California.

Customer concentration is heavily Navy-centric. The top five customers account for 77% of awards, led by Naval Facilities Engineering Command (143 awards, $2.23 billion combined potential value) and Naval Sea Systems Command (59 awards, $10.38 billion combined potential value). The two rankings diverge sharply by dollars: Naval Sea Systems Command anchors $10.38 billion in potential value across 59 awards (roughly $176 million per award on average), whereas Naval Facilities Engineering Command's 143 awards carry $2.23 billion combined value (roughly $15.6 million per award on average). Remaining top customers include the US Coast Guard (19 awards, $4.7 million), Navy Installations Command (19 awards, $16.4 million), and Navy NAVSUP Engineering Logistics Office (15 awards, $11 million). Oceanetics has worked with 28 distinct federal agencies, but Navy commands account for the vast majority of volume and dollars.

Oceanetics holds a multi-billion-dollar footprint across Navy and GSA vehicle positions. The company is a prime contractor under a $199 million Naval Sea Systems Command indefinite-delivery contract for Waterborne Security Barriers Sustainment (awarded July 2025, through July 2030) and a $26 million Naval Sea Systems Command operational and logistics support IDIQ (awarded May 2025, through May 2030). Oceanetics also holds a $299.98 million single-award cost-plus-fixed-fee IDIQ from Naval Facilities Engineering Command for oceanographic infrastructure support services (awarded November 2022, through November 2027) that has generated 28 task orders totaling approximately $114.5 million. The company is positioned on the $180 million Naval Facilities Engineering Command Ocean Multiple Award Contract (awarded December 2024, total small business set-aside) and holds seats on three GSA OASIS+ vehicles—the $999.999 trillion total-small-business IDIQ (awarded December 2024, through December 2029), the $999.999 trillion HUBZone IDIQ (awarded September 2024, through September 2029), and the $999.999 trillion service-disabled veteran-owned IDIQ (awarded September 2024, through September 2029)—all of which carry placeholder ceilings with no specified dollar limit. Oceanetics also holds a $90 million Army Corps of Engineers Metal Fabrication, Refurbishment, and Installation MATOC (awarded August 2022, through August 2027) and a $15 million Army Corps of Engineers Operations Machine/Fabrication MATOC (awarded April 2023, through April 2026).

Activity has remained episodic over the past five years: 16 awards in 2022, 34 in 2023, 23 in 2024, 26 in 2025, and three awards in 2026 (through February 26). The combined potential value across all 330 awards in the portfolio is $12.97 billion, though only $317.3 million (2%) is obligated to date. Thirty awards with combined potential value of $43.4 million face ultimate completion within the next twenty-four months, signaling recompete exposure in the near term; these include waterborne barrier sustainment work, mooring maintenance, and subsea testing efforts across Naval Sea Systems Command, Naval Facilities Engineering Command, and Navy Installations Command.

On Service Contract Inventory-reportable prime contracts, Oceanetics invoiced $20.8 million in FY2024 across 4.4 full-time equivalents, with zero SCI revenue recorded in FY2023. This represents a partial view of federal service contract activity above the $150,000 reporting threshold and excludes goods, products, and classified work. Government-paid hourly rates on SCI-reportable contracts ranged from a 10th percentile of $161.34/hr to a median of $332.60/hr and a 90th percentile of $603.02/hr, reflecting a mix of field technicians, engineers, and senior technical leadership. Across SCI-reportable prime contracts, subcontractors performed an average of 29% of contractor hours; named subcontractors included Makai Ocean Engineering Research Inc., Tsuru Maritime Inc., Parkburn Precision Handling Systems, and Teledyne Instruments.

Oceanetics operates as the prime contractor on 329 of 330 awards and subcontracts as a named sub on only one award (HII Mission Technologies Corp's SPOT contract for Naval Surface Warfare Center in 2024). The company's subcontracting posture shows material reliance on specialized maritime and engineering partners. Recurring subcontractors include Makai Ocean Engineering Research Inc. (project management, design, training, and procurement support on subsea and oceanographic work), Tsuru Maritime Inc., a woman-owned small business (port engineer and administrative support services), Parkburn Precision Handling Systems Limited (containerized cable systems and handling equipment), Global Diving & Salvage Inc. (dive teams, tug boats, and crane barge support), and Teledyne Instruments (underwater acoustic and sonar systems). Oceanetics frequently engages specialist primes—Harland and Wolff Belfast, ABB Inc. Marine Division, Kongsberg Maritime, and Detyens Shipyards—as subcontractors on large vessel repair and subsea assembly projects, positioning itself as the Navy's integrator and project manager rather than the sole technical executor.

The company's federal work concentrates on NAICS 541330 (Engineering Services, 205 awards) and NAICS 333924 (Other Heavy and Civil Engineering Construction, 23 awards), with supporting presence in fabricated metal product manufacturing and port operations. By Product Service Code, the portfolio is anchored by Support-Professional: Engineering/Technical work (116 awards), Installation of Equipment-Ship and Marine Equipment (39 awards), and Logistics Support (32 awards). This category concentration aligns with Oceanetics' core identity: a Navy-focused maritime engineering and infrastructure services prime with manufacturing capabilities in waterborne barriers, mooring components, and specialized marine equipment, operating under HUBZone and service-disabled veteran-owned certifications that recur across the full competitive footprint.

INNOVATION AT ANY DEPTH. Oceanetics delivers unique solutions that serve the breadth of all maritime domains -- from the surface of the ocean, to the depths of the uncharted seafloor. Oceanetics provides turnkey solutions to deliver your unique projects; we specialize in marine requirements, harsh environments, and remote locations. Our specialized services include: Mooring Solutions, Subsea & Seabed Warfare (SSW), Critical Infrastructure Protection (to include Waterside security barriers and harbor security), Renewable Ocean Energy, Engineering & Design, and Custom Fabrication.