Feb 1 (Reuters) - Huntington Ingalls reported a better-than-expected fourth-quarter earnings on Thursday, as rising geopolitical tensions fueled demand for its aircraft carriers, amphibious assault ships and submarines.

Virginia-based Huntington reported quarterly diluted earnings of $6.90 per share, beating analysts' average estimate of $4.28, according to LSEG data. The company's shares edged up 1.44% in premarket trading.

The U.S. has been boosting spending on the navy's submarine fleet, in response to China's growing power in the Indo-Pacific.

The largest U.S. military shipbuilding company's fourth-quarter revenue rose 13% to $3.18 billion from a year earlier, ahead of analysts' estimate of $2.78 billion.

Two of the three segments of the company focus on shipbuilding and it expects shipbuilding revenue to be between $8.8 billion and $9.1 billion in 2024.

Huntington provided 2024 free cash flow target in the range of $600 million to $700 million. It reported free cash flow of $692 million in 2023.

(Reporting by Pratyush Thakur in Bengaluru; Editing by Sriraj Kalluvila)