With federal approval to build the first U.S. nuclear reactors in 30 years granted on Feb. 9, two units in the state of Georgia set to generate 2,200 MW of power will proceed. However, the nuclear industry sees future growth in a more scaled-down version known as the small modular reactor, or SMR. Firms already are developing SMRs, ranging in size from 45 MW to 300 MW.
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.