If the Admiral-class battlecruisers had been completed

How might the world have changed if all Admiral-class battlecruisers had been completed?

Some could have remained battlecruisers while others might have become large carriers, potentially replacing the Courageous-class conversions.

Completing the Admiral class would have changed replacement choices under the treaty system and likely made Renown and Repulse more expendable. Modified or improved Hood-like battlecruisers might have remained in service while some Admirals became carrier conversions instead of Courageous and Glorious. That path could have given the Royal Navy larger, more powerful aircraft carriers and a different carrier-tonnage balance. Comparison with Lexington and Saratoga leads to the further suggestion that converted Admirals might have pushed British carrier designs toward roughly 27,000 rather than 23,000 tons. The counterfactual alters both the capital-ship roster and the scale of treaty-era carrier development.