About $1.1 trillion ($1.1T) is a new, nongovernmental estimate of what it would cost to develop the Golden Dome, President Donald J. Trump's envisioned solution to any and all kinds of potential aerial attacks on the U.S. This figure, calculated by Bloomberg News, is 528% higher than the White House's $175 billion ($175B) projection, to which lawmakers already allocated nearly $25B in the One Big Beautiful Bill Act, the news agency explained in a Dec. 10 article.
"That would most likely be a hard sell for both Democrats and Republican fiscal hawks in Congress," the Bloomberg reporters wrote.
Bloomberg's estimate encompasses costs of weapons and defense systems but does not include costs of operating the system, of personnel or of research and development of new technology that is needed, such as space-based interceptors.
Bloomberg also calculated the price of a more modest missile defense shield system, designed to protect against an all-out attack but only from a single adversary, Russia, and it is about $844B.
Complex System Architecture
The Golden Dome, an initiative Trump announced in a Jan. 27, 2025 Executive Order, is a proposed multilayered air and missile defense system covering the continental U.S., according to the Center for Arms Control and Non-Proliferation's June 9 "Golden Dome" Fact Sheet. Potentially, it would combine interceptor systems, space-based sensors, directed energy weapons and technologies not yet existent. Encompassing land, sea and space-based technologies, the Golden Dome's purpose would be to protect the country from aerial attacks by cruise missiles, ballistic missiles, hypersonic missiles and drones, conventional and nuclear.
"If realized, the system would represent the most expansive (and expensive) homeland missile defense concept in history," added the Center.
Another Trillion-Dollar Estimate
In a Sept. 19 article, Todd Harrison, a senior fellow at the American Enterprise Institute, outlined six different possible architectures for the Golden Dome and provided cost estimates for each. "Architecture 6 (Robust All-Threat Defense)" is the one that best aligns with Trump's goal for the system to be nearly 100% effective against the full gamut of aerial threats, he wrote.
Architecture 6 would cost an estimated $3.6T over 20 years, and Harrison pointed out, "still falls short of creating a nearly impenetrable shield."
Steps Already Taken
The federal government has begun the contract process for work related to developing the Golden Dome. The Missile Defense Agency (MDA), part of the U.S. Department of War, announced on Dec. 2 it chose 1,014 companies out of 2,463 applicants to bid for work under the $151B SHIELD (Scalable Homeland Innovative Enterprise Layered Defense) contract. None of the funds has been allocated yet.
U.S. Space Force awarded about six, small contracts to U.S. companies to help develop prototypes for space-based missile interceptors to be employed in the Golden Dome, reported The Independent on Nov. 25. Recipients included Northrop Grumman, True Anomaly, Anduril and Lockheed Martin.
"The contracts mark a significant step forward in the Pentagon's efforts to track and destroy enemy missiles and include prototypes of space-based interceptors and related systems," Reuters wrote.
What Critics Say
Along with the actual cost, other concerns about the Golden Dome include the technical feasibility of it as proposed, according to a Dec. 10 Asia Times article. Major components of the system, such as boost-phase interception and space-based weapons, are unproven technologies. Is deploying weapons systems in orbit for missile defense even doable? Even just defining and building a single system, to defend against all present and future threats, seems implausible, given technology and adversary's capabilities and threats continue to evolve.
The scale of the project presents another challenge. The Golden Dome has been compared to Israel's Iron Dome, but the latter only protects against short-range missiles and over a country the size of New Jersey, noted CNN in March.
Golden Dome critics purport the system could destabilize international security, reported The Washington Post in an Oct. 29 article. Adversaries or competitors could respond by expanding their arsenals of offensive missiles that are much cheaper to produce than defensive interceptors. Beijing has asserted the initiative will weaken "global strategic balance and stability," and turn "space into a war zone." Moscow described the Golden Dome as a "very destabilizing initiative" that would upend "strategic stability at its core," reported the Center for Strategic & International Studies in October.
Despite the concerns and criticisms, Trump claims the Golden Dome will be operating fully before the end of his term (year-end 2028), an unrealistic timeline many say, CNN wrote out a May 10 article. Space Force General Michael Guetlein, head of the program, said at the Reagan National Defense Forum on Dec. 6 that the Golden Dome will have some operational capability that year, Air & Space Forces Magazine reported.
"It will not be the final capability, but we will have the ability to protect and defend the nation against advanced threats by the summer of 2028," Guetlein said.
Retired Rear Admiral Mark Montgomery, senior director of the Center On Cyber and Technology Innovation at the Foundation for Defense of Democracies, told CNN that creation of a ballistic missile defense system may be possible in seven to 10 years, but with limited capability, like only being able to protect critical federal buildings and major cities.
Given federal agencies are moving forward with the Golden Dome plan, here is a handful of companies that stand to benefit from it:
Booz Allen Hamilton Holding Corp. (BAH:NYSE)
Headquartered in McLean, Va., but moving to Reston in fall 2027, Booz Allen is a consulting and technology services company, specializing in AI, cybersecurity, systems engineering, space domain awareness and data analytics. In recent company news, the U.S. Navy's Military Sealift Command (MSC) awarded Booz Allen a $99 million ($99M) contract to engineer, deploy and sustain 5G wireless networks on MSC government-operated ships in the Pacific, the U.S. and Europe. Also, the company is one that the MDA selected to submit bids related to the SHIELD contract for the Golden Dome.
According to recent TipRanks data from 11 analysts, the consensus rating of Booz Allen among them is Hold. Their average target price implies a 15% return from BAH's Dec. 17 closing price.
As for ownership and share structure1, most of Booz Allen, 101%, is owned by numerous institutions, the largest of which is Vanguard Group Inc. with 11.27%. Twenty-four strategic entities hold 1.11%.
Booz Allen has 121.3 million (121.3M) shares outstanding. Its market cap is $10.36B. Its 52-week range is $79.23–146.95/share.
Lockheed Martin Corp. (LMT:NYSE)
Headquartered in Bethesda, Md., Lockheed Martin is a global security, defense and aerospace contractor. It designs, develops, manufactures and maintains advanced technology systems for defense and aerospace. It also is an MDA-chosen company for the SHIELD contract.
Announced on Dec. 17, Lockheed Martin and 4iG Space and Defence Technologies agreed, via a memorandum of understanding, to collaborate on a tailored solution that will provide the Hungarian Defence Forces with a long-range rocket artillery system. The companies will explore potentially integrating Lockheed Martin's artillery rocket system launcher loader module on Hungarian military trucks.
Lockheed Martin's rating is Hold, according to TipRanks data from 13 analysts. Their average price target on the company suggests an 11% uplift from its closing Dec. 17 share price.
Regarding ownership and share structure, more than 3,000 institutions own the biggest chunk of Lockheed Martin, 74.7%. The largest shareholder overall is State Street Investment Management (US) with 14.78%. Twenty-two strategic entities have 0.08%. Retail investors hold the rest.
Lockheed Martin has 231.4M shares outstanding and a market cap of $110.4B. Its 52-week range is $410–516/share.
RTX Corp. (RTX:NYSE)
Headquartered in Arlington, Va., RTX Corp. is a multinational aerospace and defense conglomerate providing systems and services for commercial, military and government customers in the aviation, space and defense industries.
RTX's latest development is Raytheon's new strategic collaboration with Amazon Web Services (AWS) to significantly advance satellite data processing and mission control operations. Raytheon, a core business within RTX, will identify initiatives for deploying scalable cloud-based solutions using AWS' AI and machine learning services. Raytheon will leverage AWS to help customers reduce mission costs, increase program flexibility and accelerate the delivery of capabilities to operations.
RTX is rated Hold, according to recent data from 15 analysts, notes TipRanks. Their average price target implies 10% upside from RTX's Nov. 17 closing price.
In terms of ownership and share structure1, more than 3,60 institutions own 81.58% of RTX, the largest shareholder overall being The Vanguard Group Inc. with 9.12%. Another 0.08% is divided among 26 strategic entities. Retail investors own the rest.
RTX Corp. has 1.3 billion shares outstanding, a market cap of $241B and a 52-week range of $112.27–182.28/share.
Elbit Systems Ltd. (ESLT:NASDAQ)
Headquartered in Haifa, Israel, Elbit Systems is a global defense technology company that develops, manufactures, integrates and sustains a range of next-generation solutions for multiple domains.
Most recently, the Hellenic government approved a budget for the purchase of Elbit Systems' PULS rocket artillery system for the Hellenic Armed Forces. PULS can launch unguided rockets, precision-guided munitions and missiles with various ranges and is fully adaptable to existing wheeled and tracked platforms. Elbit America, a subsidiary of Elbit Systems Ltd., is a company approved by the MDA to bid on the SHIELD contract.
Based on TipRanks data from three analysts, Elbit Systems is rated Moderate Buy. The company already surpassed the average target price. From its Dec. 17 closing price, the return to the highest target among the analysts is 2%.
In terms of ownership and share structure of the company, one strategic entity and the largest shareholder overall, Federmann Enterprises Ltd., owns 42.22%. About 480 institutions have 23.48%. Retail investors hold the rest.
Elbit Systems has 46.38M shares outstanding. Its market cap is $25.4B. Its 52-week range is $255.01–529.99/share.
L3Harris Technologies Inc. (LHX:NYSE)
Headquartered in Melbourne, Fla., L3Harris is a global aerospace and defense tech company creating advanced solutions for air, land, sea, space and cyber domains. Its focus is on mission-critical needs like secure communications, intelligence, surveillance, reconnaissance, electronic warfare and weapons systems (including hypersonic) for military, government and commercial clients. In its latest news,
L3Harris was awarded a follow-on production contract, valued at up to $200M, to manufacture for Lockheed Martin additional solid rocket motors for a precision-guided artillery system. This contract will be the first order L3Harris will process at its new facility in Camden, Ark. Also, L3Harris was among the companies chosen by the MDA as approved offerors.
L3Harris Technologies is rated Moderate Buy, according to TipRanks data from 13 analysts. The average target price among them suggests a 20% return for investors from LHX's Dec. 17 closing price.
Most, 89.21%, of L3 Harris is owned by more than 1,800 institutions. The Vanguard Group Inc. is the largest shareholder overall with 12.37%. Another 0.36% of L3 Harris is divided among 27 strategic entities. Retail investors hold the rest.
L3 Harris has 187.05M shares outstanding. Its market cap is $52.9B. Its 52-week range is $193.09–308.12/share.
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1Ownership and Share Structure Information
The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.
