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The Navy's New Nuclear Missile Submarines Are Probably Going to Cost More Than $128 Billion [View all]
Source: Bloomberg
The Navy's New Nuclear Missile Submarines Are Probably Going to Cost More Than $128 Billion
BY TONY CAPACCIO / BLOOMBERG APRIL 8, 2019
(Bloomberg) — The U.S. Navy may have to ask Congress to boost funding in fiscal 2021 to buy the first in its new 12-ship fleet of nuclear-armed submarines because of unreliable cost estimates, according to congressional auditors.
The service’s current procurement cost estimate and design goal are suspect and require updates before those dollars are approved, the Government Accountability Office said in a report issued Monday.
The Columbia-class program is estimated at $128 billion including research and development, with $115 billion for procurement. That makes it the Pentagon’s third-costliest system.
In two years, the Navy plans to request procurement funds to buy the lead vessel. The Navy’s goal is to have 83 percent of its design complete before it begins construction in October 2020. General Dynamics Corp. is the lead contractor, with Huntington Ingalls Industries Inc. as the top subcontractor.
-snip-
BY TONY CAPACCIO / BLOOMBERG APRIL 8, 2019
(Bloomberg) — The U.S. Navy may have to ask Congress to boost funding in fiscal 2021 to buy the first in its new 12-ship fleet of nuclear-armed submarines because of unreliable cost estimates, according to congressional auditors.
The service’s current procurement cost estimate and design goal are suspect and require updates before those dollars are approved, the Government Accountability Office said in a report issued Monday.
The Columbia-class program is estimated at $128 billion including research and development, with $115 billion for procurement. That makes it the Pentagon’s third-costliest system.
In two years, the Navy plans to request procurement funds to buy the lead vessel. The Navy’s goal is to have 83 percent of its design complete before it begins construction in October 2020. General Dynamics Corp. is the lead contractor, with Huntington Ingalls Industries Inc. as the top subcontractor.
-snip-
Read more: http://time.com/5566107/navy-nuclear-missile-cost/
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