The document summarizes a presentation given by Eric J. Labs at the 37th Annual Spring Meeting of the Marine Machinery Association on February 23, 2022 about prospects for building a larger US Navy fleet. It discusses recent Navy force structure assessments and shipbuilding plans that call for a larger fleet of 321 to 372 manned ships and up to 140 unmanned ships by 2035. However, the Navy's shipbuilding plans would require average annual costs of $25.3 billion to $32.7 billion, significantly more than appropriations over the past five years. To support a larger fleet, the Navy will need large and sustained increases to its overall budget.