Navy: LCS Price Tag Soars

That would amount to a price tag of $550m for the new small, flexible and fast LCS’, which are designed to counter coastal threats, including floating mines, diesel submarines and speedboats.

Vice Adm. McCullough, deputy chief of naval operations, gave the new estimate for the ship's cost at a hearing held by the House Armed Services seapower subcommittee.

Lockheed and General Dynamics are each building the first of two different designs for the new ship class. They are now bidding for work on the next three ships, and the Navy expects to award a contract later this year. (Source: Reuters)