The U.S. Navy, first known as the Continental Navy, was formed in 1775, to help protect America from England's large fleet of warships during the Revolutionary War. At that time, the Continental Navy was composed of five small ships. the current Navy has nearly 300; submarines, battleships, aircraft carriers and more. In addition to protecting the U.S. coast and fighting over seas, the Navy has many other important jobs. for example, did you know that the Navy is in charge of the master clock that keeps the official time for the United States?