Pirates of the Caribbean 5 set for 2017 release

Disney has finally confirmed the release date for the next instalment

Johnny Depp in 'Pirates of the Caribbean: Dead Man's Chest' (AP)

Jack Sparrow and friends are set to return to the big screen in two years' time.

Pirates of the Caribbean 5 will be released in the US on 7 July 2017, Disney has confirmed.

The fifth instalment of the franchise was due to have been released in the summer of 2015, but was delayed in order to work on the script.

Had the movie been released next year, it would have stood tough competition from a series of summer blockbuster releases including Fast and Furious 7, Avengers: Age of Ultron and Jurassic World.

Instead, Pirates of the Caribbean: Dead Men Tell No Tales will have no major competitors in the summer of 2017– as far as we know yet.

The last Pirates film, On Stranger Tides released in 2011, grossed $1.04 billion at the global box office.

In total, the franchise has made $3.7 billion in ticket sales to date.

Johnny Depp returns to the franchise as Capt Jack Sparrow following a recent spree in box office flops including Transcendence and The Lone Ranger.

Read more: Has Johnny Depp lost his mojo?