By Aatreyee Dasgupta and Mike Stone

(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.

(Reporting by Aatreyee Dasgupta in Bengaluru and Mike Stone in Washington; Editing by Maju Samuel and Chizu Nomiyama)