The US Navy Department has issued its proposed Base and Overseas Contingency Operations (OCO) budget for the fiscal year (FY) 2019, which is valued at $194.1bn.
The navy budget forms part of the $716bn Base and OCO defence budget that has been submitted to Congress.
Go deeper with GlobalData
It is primarily focused on enhancing the readiness, capability and capacity of the US Navy and the US Marine Corps (USMC) with the aim of developing a more lethal, resilient and agile force.
US Navy Budget deputy assistant secretary rear admiral Brian Luther said: “The department is grateful for the increased funding and has worked diligently in this request to ensure the funding provided protects and sustains the readiness gains of FY18, and creates a balanced warfighting force with the capabilities needed for the fight, and the capacity to win the fight.”
The budget covers a $63.4bn base and OCO request for operation and maintenance in order to fund the maximum executable amounts for ship depot maintenance, aviation depot maintenance and the flight-hour programme.
In addition, the FY19 submission proposes the procurement ten new US Navy vessels for a consideration of $58.5bn, as well as a further 54 ships across the Future Years Defense Plan (FYDP).
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe amount is also expected to be invested in the acquisition of advanced systems such as unmanned, cyber and directed energy weapons.
The planned ten ships include three Arleigh Burke-class destroyers, two Virginia-class submarines, one littoral combat ship (LCS) and one expeditionary staging base.
Furthermore, the budget can be used for the development of 120 aircraft in FY19 and 655 aircraft across the FYDP, in addition to fully funding the US Navy’s Columbia-class ballistic missile submarine (SSBN) programme.
The submission proposes another $18.6bn for investment into research and development in order to support technological advancements intended to help counter threats in all environments and across all spectrums.
