Navy Plans to Surge Submarine Spending to $5 Billion by 2024
- Service to request $2 billion more in fiscal 2021 procurment
- General Dynamics design progress ‘slightly behind,’ Navy says
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The U.S. Navy plans to boost spending for its next-generation nuclear missile submarine program by $2 billion in fiscal year 2021 and continue pushing toward $5 billion in 2024, according to the service’s latest annual report to Congress.
The surge begins next year, when the Navy will seek $4.3 billion in funding for the Columbia-class submarine program, up from $2.3 billion in the 2020 fiscal year that begins in October. The funding increase includes $3.9 billion in procurement, according to the service’s new Selected Acquisition Report sent to Congress last month.