A new analysis from the Congressional Budget Office (CBO) finds the Navy would have to spend $25 billion a year for 30 years to reach its stated goal of a 355-ship fleet, $6 billion a year more than if it stayed on its current track for a 308-ship fleet.
The report, released this month, assessed the costs of the service’s 2017 30-year shipbuilding plan, finding the Navy would need to spend $566 billion to build a fleet of 308 ships, up from the current 274. But the service can expect to spend much more to reach the new goal of 355 ships, announced in December, the report found.
While the full cost implications of the 355-ship fleet will be addressed in a future CBO report, the study laid out broad estimates for the ambitious shipbuilding goal.
The Navy could reach a fleet of 353 ships by 2046 by increasing ship production, CBO staff found. Building 321 ships over 30 years would cost the service $25 billion a year, compared with $19 billion a year if the Navy stayed on its current path.
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