Future of the Royal Navy

Future planning of the Royal Navy's capabilities is set through periodic Defence Reviews carried out by the British Government. The Royal Navy's role in the 2020s, and beyond, is outlined in the 2021 defence white paper, which was published on 22 March 2021. The white paper is one component of the Integrated Review of Security, Defence, Development and Foreign Policy, titled as Global Britain in a Competitive Age which was published on 16 March 2021.

The National Audit Office (NAO) has, for a considerable period of time, described the Ministry of Defence's equipment plan as "unaffordable". As late as January 2021 the NAO reported that the Royal Navy had the largest shortfall of the three services at £4.3 billion over the 2020 to 2030 period. To address some of these gaps, in November 2020, the Prime Minister announced the first outcome of the defence review by pledging increased funding in the range of £16.5 billion over four years to stabilise the defence budget and to provide new funding for space, cyber and research activities. A plan to construct a new class of frigate, the Type 32 frigate, was also announced with five vessels envisaged and likely entering service starting in the early 2030s, though many other details about the program remain to be decided, even following publication of the March 2021 defence white paper. The British government plans to increase the Royal Navy's fleet to 24 frigates and destroyers, perhaps achieving that objective by the mid-2030s.

In March 2023, a further £5 billion in funding was announced as part of a defence policy "refresh" exercise to "help replenish and bolster vital ammunition stocks, modernise the UK's nuclear enterprise and fund the next phase of the AUKUS submarine programme". However, in December 2023 the NAO again described the MoD's defence plan for 2023-2033 as "unafforadble" and some £16.9 billion over budget. Forecast costs for the Navy were reported to have risen by £16.4 billion (or 41%). Spending decisions were expected to be made during the next spending review in 2024, at which point more funding might be allocated or other decisions taken.

As of February 2023, the following major vessels are under construction: the final two of seven Astute-class submarines; the first three of four Dreadnought-class ballistic missile submarines, the first four of eight Type 26 frigates; and two of the five Type 31 frigates. Additional replenishment vessels were on order for the Royal Fleet Auxiliary, together with the acquisition and conversion of commercial vessels for ocean seabed surveillance and mine countermeasures roles.