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8 May 2019 -- The Navy plans to boost funding for the program by $2 billion in fiscal 2021, and increase the funding surge by $5 billion by 2024, according to the Navy's Selected Acquisition Report sent to Congress last month. The current level of funding for the program sits at $2.3 billion in the 2020 budget.
The submarine spending surge is part of a program initially begun under former President Obama and accelerated under the Trump administration to modernize and grow the size of the U.S. nuclear submarine fleet, retiring old Ohio-class submarines that entered production in the 1970s and replacing them with new Columbia-class submarines.
Numbers for the program's funding could be set to change, however, the Government Accountability Office said last month that Navy cost estimates for its submarine program are “not accurate because it relies on overly optimistic” labor estimates.
Related: 2019 DOD budget would bring U.S. military spending up to levels we've rarely seen before
Related: Navy ramping up fleet and technologies to face new threats
Related: 2019 DOD budget proposes $686.1 billion in military spending: largest Pentagon budget ever?
John Keller, chief editor
Military & Aerospace Electronics
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