By Aatreyee Dasgupta and Mike Stone

WASHINGTON, July 24 (Reuters) - General Dynamics ( GD )

reported an 18% rise in second-quarter revenue on Wednesday,

helped by higher demand for its ammunitions and nuclear-powered

submarines and a 50 % year-on-year jump in revenue from business

jets.

"In the Aerospace segment, we are continuing to ramp up the

pace of our G700 deliveries and our defense businesses continued

to grow, reflecting increased demand in response to the threat

environment," CEO Phebe Novakovic said in a statement.

General Dynamics ( GD ) delivered 37 business jets in the quarter,

compared with 21 in the same period a year ago representing a

50% jump.

The Federal Aviation Administration certified the G700

business jet just days before the quarter began, unlocking a

surge of deliveries. In the first quarter, the company delivered

24 business jets.

Despite cost pressures owing to a reduced U.S. defense

budget, U.S. defense firms continue to see strong demand for

military equipment amid ongoing geopolitical conflicts.

The Reston, Virginia-based company reported a quarterly

revenue of $11.98 billion, up from $10.15 billion a year ago.

It reported net income of $905 million, or $3.26 per share,

for the quarter ended June 30, compared with $744 million, or

$2.70 per share a year earlier.

The $95 billion Ukraine-Israel aid bills passed by Congress

earlier this year were expected to boost the order backlog for

General Dynamics ( GD ), which makes some of the artillery which is in

heavy use in Ukraine.

Other major companies that receive government contracts,

such as Lockheed Martin ( LMT ), RTX Corp ( RTX ) and Northrop

Grumman ( NOC ) should also eventually expect a lift from the

funds.