U.S. Navy Warns It Can’t Meet 30-Year Funding Needs

The U.S. Navy can’t meet its funding needs for surface warships and a new class of nuclear attack submarines from 2025 to 2034, according to the service’s latest 30-year shipbuilding plan.

The congressionally required blueprint, submitted late last week and obtained by Bloomberg News, says the Navy’s plan “requires funding at an unsustainable level” unless spending on shipbuilding is increased.

The Navy report provides one service’s challenges beyond the Pentagon’s current five-year funding plan in an era of declining defense spending. After 2019, the Defense Department will confront a confluence of expenses that includes the new submarines, planned full production of Lockheed Martin Corp. (LMT)’s F-35 fighter jet and a new Long-Range Strike bomber.

This budget “cannot be accommodated by the Navy from existing resources — particularly if” the Pentagon remains under congressionally mandated automatic cuts known as sequestration, the report said.

“Even if the Ohio-replacement program is removed” from the Navy plan, the average shipbuilding funding required beginning in fiscal 2020 is as much as $15 billion annually, the report found.

Full article: U.S. Navy Warns It Can’t Meet 30-Year Funding Needs (Bloomberg)

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