US nuclear missile program costs soar to around $160 billion

6/7/2024 14:40

        The cost of an Air Force program to replace aging nuclear missiles has ballooned to about $160 billion from $95.8 billion, three people familiar with the matter said, threatening to slash funding for other key modernization plans.
        
        The project, now named the Sentinel intercontinental ballistic missile (ICBM) program, is designed and managed by Northrop Grumman Corp and aims to replace aging Minuteman III missiles.
        
        Its latest price tag has risen by around $65 billion since a 2020 cost estimate, according to a U.S. official, an industry executive and a hill aide briefed on the matter. This may force the Pentagon to scale back the project's scope or time frame, a second industry executive said.
        
        Bloomberg reported earlier on Friday that the new price tag was around $141 billion with the Pentagon assessing modifications of construction and schedule.
        Northrop Grumman declined to comment. The Pentagon did not comment on the figure, but said it expects to give a new cost estimate around Tuesday.