Looking at the BBs, time from laid down to launch (noting that ships often took more than half a year to be complete after launch), during the time period (apologies if I do any of the maths in my head wrong):
- King George V class, five ships, shortest 25 and a half months, longest 34 months.
- Vanguard class, one ship, 38 months (although they were in no hurry on this one).
- North Carolina class, two ships, shortest 23 and a half months, longest 31.5 months.
- South Dakota class, four ships, shortest 23 months, longest 26 months.
- Iowa class, four ships (completed), 26 months, longest 37 months.
- Yamato class, two ships, shortest 31 months, longest 33 months.
- Bismarck class, two ships, shortest 29.5 months, longest 31.5 months.
- Richelieu class, one ship (completed 'normally', the other two were interrupted by WW2), 38 months.
Edit: Source Conway's All the World's Fighting Ships, 1922-46.
As Kadanz says, nothing wrong with having BB production on steroids for gameplay purposes, but I reckon I'll be modding in the max naval factories available for a production line to give me something closer to these times.
My assumption is that it's most likely done for gameplay reasons. The time span for the game is like what? 9-10 years? For that reason I think it's a valid design decision to be able to produce ships somewhat faster.
Aye, I've got nothing wrong with it as a gameplay decision, but HoI3 (and 2) coped fine with longer BB/CV build times, it just means players have to plan ahead a bit

. Not suggesting they should change it for the base game, but it sounds like something that would be easy to mod (I daresay it would be one or two global variables, although that's a very wet-finger-in-the-air guess at this stage) for those of us that like things a bit more plausible.