Navy Virginia (SSN-774) Class Attack Submarine Procurement: Background and Issues for Congress [December 17, 2015] [open pdf - 3MB]
"The Navy has been procuring Virginia (SSN-774) class nuclear-powered attack submarines since FY1998. The two Virginia-class boats requested for procurement in FY2016 are to be the 23rd and 24th boats in the class. The 10 Virginia-class boats programmed for procurement in FY2014-FY2018 (two per year for five years) are being procured under a multiyear-procurement (MYP) contract. The Navy estimates the combined procurement cost of the two Virginia-class boats requested for procurement in FY2016 at $5,376.9 million or an average of $2,688.4 million each. The boats have received a total of $1,613.5 million in prior-year advance procurement (AP) funding and $416.9 million in prior-year Economic Order Quantity (EOQ) funding. The Navy's proposed FY2016 budget requests the remaining $3,346.4 million needed to complete the boats' estimated combined procurement cost. The Navy's proposed FY2016 budget also requests $1,663.8 million in AP funding and $330.0 million in EOQ funding for Virginia-class boats to be procured in future fiscal years, bringing the total FY2016 funding request for the program (excluding outfitting and post-delivery costs) to $5,340.1 million. The Navy's proposed FY2016 budget also requests $167.7 million in research and development funding for the Virginia Payload Module (VPM). The funding is contained in Program Element (PE) 0604580N, entitled Virginia Payload Module (VPM), which is line 123 in the Navy's FY2016 research and development account. […] Potential issues for Congress regarding the Virginia-class program include the Virginia-class procurement rate in coming years, particularly in the context of the SSN shortfall projected for FY2025-FY2034 and the larger debate over future U.S. defense strategy and defense spending."
CRS Report for Congress, RL32418
Federation of American Scientists: http://www.fas.org/sgp/crs/index.html