The 1915 dreadnought balance was an industrial balance

Wartime control of ships intended for Turkey and Chile, together with Australia’s support, further concentrated dreadnought strength around the Royal Navy. Britain then possessed thirty-nine dreadnoughts in service and twelve under construction. Germany fielded twenty-two with nine building, but only one of those unfinished German ships was expected to enter service during the war. The comparison measures more than the fleets already afloat: it exposes the industrial capacity available to sustain and widen the gap. Fleet balance in 1915 was as much a production problem as a count of completed hulls.