The U.S. Navy says it will be unable to match its current budget plan with the funding requirements to build new surface warships and submarines between 2025 and 2034, Bloomberg reported Monday.
Tony Capaccio writes the Navy submitted a 30-year shipbuilding plan to the Congress outlining the challenges facing the service’s efforts to expand its fleet from 289 to 306 ships.
The Navy also plans to develop fresh new Ohio-class submarines, according to the report.
Bloomberg reports the Navy requires at least $19.7 billion per year for its plan to build the new nuclear attack submarines, as well as more than $24 billion for the fiscal year 2032.
Citing the Navy’s report, Capaccio writes sequestration cuts would prevent the Navy from meeting its funding needs.
