The incident, which is under investigation, occurred at 5:40 pm local time, according to a statement from the US 7th Fleet.
The Hornets -- both of which have not been recovered -- were from Carrier Air Wing 17 embarked on the aircraft carrier USS Carl Vinson.
While one pilot was rescued and is currently receiving medical care, a search is underway for the second airman.
The US 7th Fleet said an initial report indicates the jets were assigned to Strike Fighter Squadron 94 and Strike Fighter Squadron 113.
The navy said only that the Carl Vinson is "underway in the US 7th Fleet area of responsibility supporting security and stability in the Indo-Asia-Pacific region.
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