By Aatreyee Dasgupta and Mike Stone

Oct 23 (Reuters) - General Dynamics ( GD ) reported a more than

10% rise in third-quarter revenue on Wednesday, driven by

strength in its defense unit, but fewer business jet deliveries

hurt company profits.

Shares of the Reston, Virginia-based company were down 1.7%

in pre-market trading despite reporting quarterly revenue of

nearly $11.67 billion, up from $10.57 billion a year ago.

The ongoing conflicts in Ukraine and the Middle East and

the United States' efforts to replenish its inventory are

driving increased global demand for munitions, vehicles and

other military equipment.

For the quarter ended Sept. 29, the company's aerospace

segment which makes Gulfstream business jets saw revenue rise to

$2.4 billion, up 22.1% from a year ago. But profit margins were

12.3%, lower by nearly a percentage point compared to the same

period a year ago.

Total deliveries in the company's aerospace segment rose

to 24 jets, including four G700s, from 22 a year ago.

This summer, the company said it planned on delivering

160 of the jets this year. The company tended to produce larger

quantities of jets in the fourth quarter.

The company's earning per share for the quarter were

$3.35 which came in below Wall Street analysts estimates of

$3.47. This summer the company had projected 2024 year earnings

per share would reach $14.40 - $14.50. So far this year they are

$9.49.

The company's nuclear-powered submarine making Marine

Systems business unit saw revenue rise nearly 20% to $3.6

billion.

In the quarter the unit received significant contract

awards from the Pentagon including $780 million for the

construction of an additional John Lewis-class (T-AO-205)

refueling ship with options for more, and $1.5 billion for

long-lead materials for Block VI Virginia-class submarines.