The two new carriers, which are expected to enter service between 2012 and 2015, will be one of the biggest orders for the Royal Navy.

BAE Systems, VT Group, Babcock, Thales and KBR have finished the design specifications and cost estimates for the carriers and will submit their report to the Government on October 26.

The MoD is expected to go to “main gate” with the project — the final stage in commissioning the ships — around December.

The success of the carrier project has been heralded by the defence industry and the MoD as an example of how future collaboration in the shipbuilding industry may work. The MoD believes that formalising this co-operation will create a shipbuilder capable of competing internationally.

Lord Drayson, the defence procurement minister, told The Times last week: “The aircraft carrier is going well and I see that alliance as a road test to figure out how the industry can work together.”

This is a strategy that Lord Drayson developed last year as part of his Defence Industrial Strategy.

Lord Drayson, who was formerly chief executive of PowderJect, wants to get away from the culture of budget over-runs and delays that have tended to dog military procurement projects. The Nimrod MRA4, for example, was first put to tender in 1992 and was expected to be in service by 2003 at a cost of £2.8 billion. This has slipped to at least 2009 and a cost of £3.5 billion.

He said: “We need open book accounting, clarity with the supply chain and tough contracts with break clauses.”

His vision is shared by many in the defence industry who believe that the MoD’s tougher stance as a customer will make companies more competitive in winning international orders.

Paul Lester, chief executive of VT Group, said: “Lord Drayson is trying to do something for the industry rather than just something that is about short-term gain for the MoD. We are pleased to see Lord Drayson working with the industry for solutions that meet customer requirements and shareholder requirements.”

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