The U.S. Navy, which wants to expand its fleet to 355 ships, would have to spend an average of $26.6 billion a year over the next 30 years to reach its goal, a sharp increase from recent funding levels, the Congressional Budget Office (CBO) said April 24.
The dollar amount is 40 percent more than what Congress appropriated for ship construction in fiscal year 2016 and 60 percent more than what the Navy has averaged over the past 30 years, the CBO wrote in a new report.
The CBO estimates that the earliest the Navy could reach its 355-ship goal is 2035, or in about 18 years, if it receives enough funding.
“To enlarge the Navy to 355 ships would require a substantial investment of both money and time,” the CBO wrote.
Achieving a fleet of that size would require buying about 329 ships over the next 30 years, up from 254 in the Navy’s FY 2017 shipbuilding plan. The Navy would have to increase its annual purchase to about 12 ships, up from eight ships in the FY 2017 plan.
The Navy would need more than just a bigger shipbuilding budget. By 2047, operating the larger fleet would cost $38 billion a year more than the $56 billion the Navy spends today, the CBO said. In addition, outfitting the extra ships with aircraft would cost about $15 billion more than planned.
In December, the Navy announced that a year-long study, or force structure assessment, showed the need for 355 ships, up from the 308 it is already slated to grow to by FY 2021 (Defense Daily, Dec. 16). The Navy has 275 ships today.
The CBO said it prepared its report at the request of the House Armed Services Committee’s seapower and projection forces panel.
The report “reinforces my belief that a Navy buildup is both necessary and achievable with the proper amount of congressional support,” said Rob Wittman (R-Va.), the panel’s chairman. “I look forward to working with my colleagues to start us on a path to growing the Navy to keep our nation safe.”