President Trump’s plan to develop a new massive missile defense system for the US, dubbed the “Golden Dome” or the “Iron Dome for America,” is expected to cost $500 billion over the next 20 years, CNN reported on Monday, citing an estimate from the Congressional Budget Office.
The project will be a boondoggle for US weapons makers, and, according to a report from Reuters, Elon Musk’s SpaceX has emerged as a frontrunner to develop key parts of the missile shield. The report said SpaceX has partnered with Palantir and Anduril on the project.
The CNN report said that representatives from SpaceX, Palantir, and Anduril have all pitched Secretary of Defense Pete Hegseth on their plans for the project, and a source told the media outlet that he “wants what they’re selling.”
Pentagon officials have submitted plans to Trump for several options for developing the missile shield, and the president is expected to announce his preferred plan soon.
“The Secretary of Defense and other Department leaders have engaged with the President to present options and look forward to announcing the path forward in the coming days,” said Pentagon spokesman Sean Parnell.
The idea of the “Golden Dome” is to provide a missile shield for the entire territory of the United States that can intercept the most advanced missiles in the world. Trump’s executive order that directed the Pentagon to pursue the plan specified that it must include “space-based interceptors.”
The White House’s $1.01 trillion military budget request for 2026 includes $25 billion for the Golden Dome. Besides the massive cost, the project will likely kick off a new global arms race.
