What a First World War beginning in 1924 looks like at sea

How large and advanced would the British, German, and American fleets be if the First World War began in 1924?

The fleets would be enormous, but Britain and America would have moved furthest toward 16.5- or 18-inch fast capital ships and early carriers while Germany retained more first-generation dreadnoughts.

The Royal Navy's prewar building rhythm could keep eight to twelve capital ships under construction and retire its earliest 12-inch dreadnoughts before 1924. Germany would still possess a large fleet but retain more older 11-inch ships, while the United States would also move toward 18-inch weapons. Continued experimentation makes purpose-built carriers likely participants, turning any Jutland-like encounter into a much larger and more technologically complex battle.