Need to sleep, so the comments will be brief, for now. Feanor, when I get a chance to think through my thoughts re: your question, I will post my response.
One must take into account that cruise missiles and SAM's, while there is some expenditure in training, don't need trained primadonnas to fly them and use avgas etc. to keep up the necessary combat proficiency.
AND
Without aircraft carriers strategic bombers of necessary performance level (for example MRTT / C-17, after all USAF still has B-52's) would be surely financially available. On sustainability it seems unclear whether France or UK will have the capability to operate two CAG's even if the two carriers could be kept operational at similar time. Currently RN has no carrier air groups at all.
True, but the cruise missiles also have shelf lives, meaning they need to be either replaced or re-manufactured periodically in order to function. Also, what I was alluding to in terms of additional assets covers all the various forces which would need augmentation to cover the same roles a carrier and its associated CBG cover. The Air Force would need additional fighter aircraft, since the Navy would have fewer (or no) fighter aircraft of their own. Additional tanker aircraft would be required if these Air Force fighters ever needed to operate far from available bases. Additional E-3 Sentries would be required to provide the needed situational awareness that is available to (or from) a CBG with its organic AWACS. Additional ships would be needed that are capable of carrying out strike missions as well as ASuW. Additional strategic bomber/strike aircraft would be required... The list goes on and on.
What I meant is that carrier reach is often overestimated. JSF's combat radius is slated to be 450nm and missions going in deeper will mean either JSF's used for tanker support or tanker support from land bases. S-400 is slated to have theoretical maximum range of some 200nmi's, while SM-6 will also have maximum range of over +200nmi's.
These numbers are not correct. The F-35B is the JSF with a radius of action of 450+ n miles, this model is the one slated for use by the USMC and by the RAF AFAIK. The USN model JSF, the F-35C has a radius of action of 700+ n miles. When this is coupled with the AGM-158 JASSM-ER, the CBG then has a standoff attack range out to 1,200+ n miles. This equals or exceeds virtually all of the Tomahawk cruise missile variants that I am aware of, and the JASSM is a LO cruise missile, which should make it less prone to interception than the Tomahawk. If something like buddy tanking is done, the strike range of the JSF (and thus the CBG) is extended even further. Or as an alternative, a single JSF could use several JSOW-ER with a standoff range of 300 n miles, to carry out strikes which could require several different Tomahawks. Not to mention loitering aircraft from a CBG could potentially be called upon to provide CAS by ground troops, that is not an option with something like the arsenal ship.
On issue of AEW/AWACS I'd think it's rather questionable whether it's better to have very long range AEW planes or smaller capability AEW planes flying off carriers. The entry of ultra-long-range UAV's will be a game changer here.
I have to disagree with the above as well. To be useful, an AEW capability has to be loitering on-station at all times. Depending on where a force is operating, a naval battlegroup could be operating somewhere that is several hours flight time from the nearest friendly bases. The E-3 has a listed loiter time of 11 hours, but depending on where it is needed, it could potentially use up much of that time in transit either to or from base. Now, the loiter time could potentially be extended via in-flight refueling, but that would put strain on the AAR fleet, as well as fatiguing the flight crews of both the AAR and E-3 fleets. A CBG currently seems able to provide its AEW needs at all times with the 4 AWACS carried onboard. It would not surprise me if 3 times that number of E-3 Sentries were required to provide the same level of coverage to a naval battlegroup that was operating far from friendly bases.
But we haven't discussed advantages of different kind of strike force yet. There will be more platforms which will be available for various missions, if today's context is to be thought out Somalian coast and anti-terror missions in Indian Ocean would be singled out. Additionally a strike force not based on carriers is more useful if the area of operations is deep inland (for example Afganistan). On the other hand, a carrier is unnecessary for most peacetime missions.
True, discussion has not occurred yet on various types of strikes. It is also true that carriers, and any other sea/naval force for that matter, is of limited use when operating far inland... As for a carrier being unnecessary for most peacetime missions, keep in mind just what a carrier is. On a simplistic level, a carrier is a floating, mobile air base. Therefore, any situation in which aircraft could be useful means a carrier could also potentially be useful as well.
-Cheers