[11] In May 2021, the names of the five planned Type 31 ships were announced by the First Sea Lord.

The names were selected to represent key themes that represent the future plans of the Royal Navy and Royal Marines - forward deployment of ships overseas; operating in the North Atlantic; carrier operations; technology and innovation; and the Future Commando Force.

Formidable, named after the World War II-era aircraft carrier HMS Formidable (67), represents carrier operations.

Formidable took part in the Battle of Cape Matapan, Operation Torch, attacked the German battleship Tirpitz, and fought against Japan in the Pacific theatre.

[12] The plan for the Type 31 project envisages all five units of the class being in service by February 2030.