• The Navy is pursuing HII's Legend-class national security cutter design.
• The new frigate program aims to replace the canceled Constellation-class frigate program.
• The Navy plans to have the new ship in the water by 2028.
• HII will be the lead yard for the program.
• The Navy will execute a competition to find other yards for construction.

This decision may indicate the Navy's preference for established shipbuilders and a shift towards smaller, more agile vessels. The use of the Legend-class design may also suggest a focus on cost savings and schedule predictability, which could benefit the Navy's industrial base. However, the program's success may depend on the Navy's ability to execute the competition process and manage the transition to a new design.