WASHINGTON, Aug. 16 (Xinhua) -- U.S. President Donald Trump's military parade is estimated to cost 92 million dollars, according to a CNBC report on Thursday, quoting an anonymous U.S. defense official.

An earlier estimate put the cost at 12 million dollars, 80 million dollars less, said the report.

The new figure consists of 50 million dollars from the Pentagon and 42 million dollars from interagency partners such as the Department of Homeland Security.

The parade is scheduled to take place in U.S. capital city Washington D.C. on Nov. 10 this year, featuring armored vehicles, aircraft flyovers and period uniforms.

The final plan has not been approved by Defense Secretary Jim Mattis, according to local media.

The ceremony is said to be largely inspired by Trump's front-row seat at France's Bastille Day military parade in Paris last year.

The United States has not held a major military parade in Washington D.C. since 1991 to mark the end of Operation Desert Storm.