This year's celebration has added significance as troops return to the city that Osama bin Laden targeted 10 years ago.
The action kicked off this morning with the annual Parade of Ships.
Of course, a major highlight of this year's fleet week is the return of the U.S.S. New York. It will be the ship's first trip back to the city since it was commissioned in 2009.
The New York is forged from 7.5 tons of recovered steel from the Twin Towers. And bin Laden's death, its presence here bears a special significance.