The Navy is seeking a fleet of 300 ships by 2040

Friday - 3/30/2012, 5:55pm EDT

The Navy is seeking a fleet of 300 ships by 2040.

The latest plan is to build nine ships a year for the next three decades — and then renovate the others, the Navy Times reports.

That plan represents "few unexpected changes, projecting a slightly smaller average fleet size and slightly reduced shipbuilding rate," according to Navy Times.

The deputy chief of naval operations predicts the annual cost to peak around $20 billion. When the plan is complete, the fleet will include 11 nuclear-powered aircraft carriers and about 50 nuclear subs.

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