The Enormous Financial Cost of Three Weeks of War in Iran
An estimated $11 billion was spent in just the first six days.
The MIM-104 Patriot is widely regarded as the most effective mobile missile defense system in the world. Short for phased array tracking radar to intercept on target—gotta love those military acronyms—it fires interceptor missiles that knock out enemy projectiles with enviable precision. The Patriot is in such demand that its manufacturer, Virginia-based RTX Corp., can’t churn them out fast enough. US allies sit impatiently on waiting lists. Ukraine has pleaded for more of them to defend itself against Russia, further straining supplies.
All that sought-after technology comes with a hefty sticker price. A complete Patriot system goes for about $1 billion. And that’s just for starters. The long-term expense is in stocking up on the single-use PAC-3 interceptor missiles it launches. They’re made by Lockheed Martin Corp. and cost about $4 million apiece. (Think of it as the Pentagon’s version of costly printer ink refills.) Given the short supplies of interceptors and the high cost to taxpayers each time one is fired, military commanders have tended to use them judiciously.