Investing
25 Weapons the US Military Is Buying the Most of This Year
Published:
Last Updated:
Earlier this year the White House released President Joe Biden’s defense budget request for fiscal year 2024 that begins Oct. 1. The total proposed defense budget request from the executive branch stands at $842 billion ahead of the annual congressional debate over the country’s expanding defense budget.
“The performance of United States (U.S.) weapon systems are unmatched, ensuring that U.S. military forces have a tactical combat advantage over any adversary in any environmental situation,” declared a report from the Pentagon’s comptroller outlining the cost of acquiring new weapons systems in the upcoming fiscal year.
One of the biggest chunks of the proposed U.S. defense budget is $170 billion for procurement and $145 for research and development, testing, and evaluation. The British-based defense intelligence site Janes called the $315 billion sum to buy and develop new weapons the Pentagon’s “largest sum ever for equipment modernisation.”
To identify the weapons the U.S. military wants to buy the most units of next year, 24/7 Wall St. reviewed the Department of Defense’s recently-released Fiscal 2024 Budget Request. We included weapons systems for which the DOD is requesting at least 50 units, ranked by the number of units requested in the FY2024 budget. We included spending over the three-year period – FY2022 to FY2024 – for each system, assuming the DOD will be granted its FY2024 requests, and which branch or branches of the military each system will go to. Primary contractors for each weapon are also from the DOD budget proposal, the Program Acquisition Cost By Weapons System document.
The budget request includes a proposed procurement of 59,000 Next Generation Squad Weapons (NGSW), the most units requested of any weapon in the budget. The NGSW, which is intended to replace the M16, M4A1 Carbine, and the M249 Squad Automatic Weapon, costs about $8,750 apiece. The NGSW is billed by the Pentagon as a more lethal weapon against adversaries in close combat situations. (Here are 18 of the deadliest weapons of all time.)
While the acquisition cost of the NGSW in FY2022 through FY2024 amounts to about half a billion dollars, 14 of the 25 weapons the military wants to buy the most units have cost more than a billion dollars over this three-year period – if the Pentagon requests for the next fiscal year are approved by Congress.
These pricey systems include $1.2 billion for 1,170 of the Small Diameter Bomb II (SMB-II), an air-to-ground precision bomb from Tucson-based Raytheon Missile & Defense; more than 3,100 Joint Light Tactical Vehicles (JLTVs), costing $3.2 billion and produced by Northrop Grumman; and 230 Patriot Missile systems from Raytheon and Lockheed Martin for $3.6 billion.
The most expensive acquisition is for 83 Lockheed Martin F-35 Joint Strike Fighter jets at a cost of $123 million apiece. The total acquisition spending in the three fiscal years amounts to $28.5 billion. (These are the most expensive planes in the U.S. Air Force.)
Click here to see weapons the US Military wants to buy the most of this year.
25. UH-60 Black Hawk
> Requested budget acquisition, FY2024: 50 helicopters (24 UH-60Ms, 26 UH-60Vs)
> Weapon cost, FY2024: $18.3 million per acquired helicopter — #24 most
> Acquisition spending, FY2024: $915.5 million — #26 most
> Total acquisition, FY2022-FY2024: 168 helicopters — #28 most
> Total acquisition spending, FY2022-FY2024: $3.2 billion — #17 most
> Service branches: Army
> Primary contractor(s): Sikorsky, Redstone Defense Systems
[in-text-ad]
24. Amphibious Combat Vehicle (ACV)
> Requested budget acquisition, FY2024: 80 vehicles
> Weapon cost, FY2024: $7.0 million per acquired vehicle — #29 most
> Acquisition spending, FY2024: $557.6 million — #37 most
> Total acquisition, FY2022-FY2024: 237 vehicles — #21 most
> Total acquisition spending, FY2022-FY2024: $1.6 billion — #37 most
> Service branches: Marine Corps
> Primary contractor(s): BAE Systems
22. Advanced Anti-Radiation Guided Missile (AARGM-ER)
> Requested budget acquisition, FY2024: 83 missiles
> Weapon cost, FY2024: $2.4 million per acquired missile — #35 most
> Acquisition spending, FY2024: $195.7 million — #61 most
> Total acquisition, FY2022-FY2024: 235 missiles — #22 most
> Total acquisition spending, FY2022-FY2024: $485.7 million — #62 most
> Service branches: Navy
> Primary contractor(s): Northrop Grumman Defense Systems
22. F-35 Joint Strike Fighter
> Requested budget acquisition, FY2024: 83 fighter jets (35 for U.S. Navy/Marines, 48 for Air Force)
> Weapon cost, FY2024: $122.9 million per acquired fighter jet — #13 most
> Acquisition spending, FY2024: $10.2 billion — #2 most
> Total acquisition, FY2022-FY2024: 233 fighter jets — #23 most
> Total acquisition spending, FY2022-FY2024: $28.5 billion — #1 most
> Service branches: Joint Service
> Primary contractor(s): Lockheed Martin
[in-text-ad-2]
21. Stryker Family of Armored Vehicles
> Requested budget acquisition, FY2024: 85 vehicles
> Weapon cost, FY2024: $7.2 million per acquired vehicle — #27 most
> Acquisition spending, FY2024: $614.3 million — #35 most
> Total acquisition, FY2022-FY2024: 493 vehicles — #16 most
> Total acquisition spending, FY2022-FY2024: $2.6 billion — #24 most
> Service branches: Army
> Primary contractor(s): General Dynamics
20. Armored Multi-Purpose Vehicle (AMPV)
> Requested budget acquisition, FY2024: 91 vehicles
> Weapon cost, FY2024: $6.1 million per acquired vehicle — #30 most
> Acquisition spending, FY2024: $554.8 million — #38 most
> Total acquisition, FY2022-FY2024: 134 vehicles — #29 most
> Total acquisition spending, FY2022-FY2024: $1.9 billion — #32 most
> Service branches: Army
> Primary contractor(s): BAE Systems
[in-text-ad]
19. Family of Heavy Tactical Vehicles (FHTV)
> Requested budget acquisition, FY2024: 96 vehicles
> Weapon cost, FY2024: $691,667 per acquired vehicle — #39 most
> Acquisition spending, FY2024: $66.4 million — #67 most
> Total acquisition, FY2022-FY2024: 614 vehicles — #15 most
> Total acquisition spending, FY2022-FY2024: $492.6 million — #61 most
> Service branches: Army
> Primary contractor(s): Oshkosh
18. Naval Strike Missile (NSM)
> Requested budget acquisition, FY2024: 103 missiles (90 for Marines, 13 for Navy)
> Weapon cost, FY2024: $2.4 million per acquired missile — #34 most
> Acquisition spending, FY2024: $244.7 million — #55 most
> Total acquisition, FY2022-FY2024: 358 missiles — #18 most
> Total acquisition spending, FY2022-FY2024: $635.7 million — #55 most
> Service branches: Navy
> Primary contractor(s): Raytheon Missile System
17. Precision Strike Missile (PrSM)
> Requested budget acquisition, FY2024: 110 missiles
> Weapon cost, FY2024: $3.5 million per acquired missile — #32 most
> Acquisition spending, FY2024: $384.1 million — #43 most
> Total acquisition, FY2022-FY2024: 206 missiles — #25 most
> Total acquisition spending, FY2022-FY2024: $713.1 million — #52 most
> Service branches: Army
> Primary contractor(s): Lockheed Martin Missiles and Fire Control
[in-text-ad-2]
16. Long Range Anti-Ship Missile (LRASM)
> Requested budget acquisition, FY2024: 118 missiles (27 for Air Force, 91 for Navy)
> Weapon cost, FY2024: $7.0 million per acquired missile — #28 most
> Acquisition spending, FY2024: $827.3 million — #29 most
> Total acquisition, FY2022-FY2024: 249 missiles — #20 most
> Total acquisition spending, FY2022-FY2024: $1.3 billion — #44 most
> Service branches: Joint Service
> Primary contractor(s): General Dynamics, Huntington Ingalls Industries
15. Rolling Airframe Missile (RAM)
> Requested budget acquisition, FY2024: 120 missiles
> Weapon cost, FY2024: $957,500 per acquired missile — #37 most
> Acquisition spending, FY2024: $114.9 million — #64 most
> Total acquisition, FY2022-FY2024: 290 missiles — #19 most
> Total acquisition spending, FY2022-FY2024: $280.0 million — #68 most
> Service branches: Navy
> Primary contractor(s): Raytheon Missiles & Defense
[in-text-ad]
14. Standard Missile-6
> Requested budget acquisition, FY2024: 125 missiles
> Weapon cost, FY2024: $9.6 million per acquired missile — #26 most
> Acquisition spending, FY2024: $1.2 billion — #20 most
> Total acquisition, FY2022-FY2024: 375 missiles — #17 most
> Total acquisition spending, FY2022-FY2024: $2.2 billion — #26 most
> Service branches: Navy
> Primary contractor(s): Boeing Defense and Space
13. Family of Medium Tactical Vehicles (FMTV)
> Requested budget acquisition, FY2024: 221 vehicles
> Weapon cost, FY2024: $519,005 per acquired vehicle — #40 most
> Acquisition spending, FY2024: $114.7 million — #65 most
> Total acquisition, FY2022-FY2024: 812 vehicles — #13 most
> Total acquisition spending, FY2022-FY2024: $373.5 million — #67 most
> Service branches: Army
> Primary contractor(s): Oshkosh Defense
12. PAC-3 / MSE PAC-3/Missile Segment Enhancement
> Requested budget acquisition, FY2024: 230 missiles
> Weapon cost, FY2024: $5.3 million per acquired missile — #31 most
> Acquisition spending, FY2024: $1.2 billion — #19 most
> Total acquisition, FY2022-FY2024: 810 missiles — #14 most
> Total acquisition spending, FY2022-FY2024: $3.6 billion — #13 most
> Service branches: Army
> Primary contractor(s): GD-OTS, AMTEC, Raytheon, BAE Systems
[in-text-ad-2]
11. Air Intercept Missile – 9X (AIM-9X)
> Requested budget acquisition, FY2024: 339 missiles (192 for Air Force, 147 for Navy)
> Weapon cost, FY2024: $512,684 per acquired missile — #41 most
> Acquisition spending, FY2024: $173.8 million — #63 most
> Total acquisition, FY2022-FY2024: 1,104 missiles — #12 most
> Total acquisition spending, FY2022-FY2024: $529.1 million — #59 most
> Service branches: Joint Service
> Primary contractor(s): Raytheon Missile & Defense
10. Javelin Javelin Advanced Anti-Tank Weapon System
> Requested budget acquisition, FY2024: 541 anti-tank systems (541 for Army)
> Weapon cost, FY2024: $470,240 per acquired anti-tank system — #42 most
> Acquisition spending, FY2024: $254.4 million — #53 most
> Total acquisition, FY2022-FY2024: 8,275 anti-tank systems — #5 most
> Total acquisition spending, FY2022-FY2024: $2.3 billion — #25 most
> Service branches: Army
> Primary contractor(s): Javelin Joint Venture (Raytheon Missiles & Defense and Lockheed Martin)
[in-text-ad]
9. Joint Air-to-Surface Standoff Missile (JASSM)
> Requested budget acquisition, FY2024: 550 missiles
> Weapon cost, FY2024: $3.1 million per acquired missile — #33 most
> Acquisition spending, FY2024: $1.7 billion — #15 most
> Total acquisition, FY2022-FY2024: 1,625 missiles — #11 most
> Total acquisition spending, FY2022-FY2024: $3.2 billion — #21 most
> Service branches: Joint Service
> Primary contractor(s): Huntington Ingalls Industries
8. Advanced Medium Range Air-to-Air Missile (AMRAAM)
> Requested budget acquisition, FY2024: 831 missiles (457 for Air Force, 374 for Navy)
> Weapon cost, FY2024: $1.4 million per acquired missile — #36 most
> Acquisition spending, FY2024: $1.1 billion — #22 most
> Total acquisition, FY2022-FY2024: 1,834 missiles — #10 most
> Total acquisition spending, FY2022-FY2024: $2.2 billion — #27 most
> Service branches: Joint Service
> Primary contractor(s): General Dynamics. Huntington Ingalls Industries
7. Small Diameter Bomb I (SDB I)
> Requested budget acquisition, FY2024: 874 bombs
> Weapon cost, FY2024: $55,721 per acquired bomb — #48 most
> Acquisition spending, FY2024: $48.7 million — #69 most
> Total acquisition, FY2022-FY2024: 2,023 bombs — #9 most
> Total acquisition spending, FY2022-FY2024: $160.4 million — #70 most
> Service branches: Joint Service
> Primary contractor(s): Boeing
[in-text-ad-2]
6. Joint Air-to-Ground Missile (JAGM)
> Requested budget acquisition, FY2024: 1,165 missiles
> Weapon cost, FY2024: $328,498 per acquired missile — #44 most
> Acquisition spending, FY2024: $382.7 million — #44 most
> Total acquisition, FY2022-FY2024: 2,646 missiles — #8 most
> Total acquisition spending, FY2022-FY2024: $871.0 million — #48 most
> Service branches: Joint Service
> Primary contractor(s): Lockheed Martin Missiles and Fire Control
5. Small Diameter Bomb II (SDB II)
> Requested budget acquisition, FY2024: 1,170 bombs
> Weapon cost, FY2024: $305,556 per acquired bomb — #45 most
> Acquisition spending, FY2024: $357.5 million — #46 most
> Total acquisition, FY2022-FY2024: 3,969 bombs — #6 most
> Total acquisition spending, FY2022-FY2024: $1.2 billion — #46 most
> Service branches: Joint Service
> Primary contractor(s): Raytheon Missiles & Defense
[in-text-ad]
4. Joint Light Tactical Vehicle (JLTV)
> Requested budget acquisition, FY2024: 3,108 vehicles (114 for air force, 2,598 for Army, 396 for Marines)
> Weapon cost, FY2024: $371,268 per acquired vehicle — #43 most
> Acquisition spending, FY2024: $1.2 billion — #21 most
> Total acquisition, FY2022-FY2024: 10,231 vehicles — #4 most
> Total acquisition spending, FY2022-FY2024: $3.2 billion — #20 most
> Service branches: Joint Service
> Primary contractor(s): Northrop Grumman
24/7 Wall St.
3. Joint Direct Attack Munition (JDAM)
> Requested budget acquisition, FY2024: 3,236 bombs (1,772 for Air Force, 1,464 for Navy)
> Weapon cost, FY2024: $63,690 per acquired bomb — #47 most
> Acquisition spending, FY2024: $206.1 million — #59 most
> Total acquisition, FY2022-FY2024: 11,417 bombs — #3 most
> Total acquisition spending, FY2022-FY2024: $631.3 million — #56 most
> Service branches: Joint Service
> Primary contractor(s): Boeing
2. Guided Multiple Launch Rocket System (GMLRS)
> Requested budget acquisition, FY2024: 5,064 rocket systems (5,016 for Army, 48 for Navy)
> Weapon cost, FY2024: $187,836 per acquired rocket system — #46 most
> Acquisition spending, FY2024: $951.2 million — #25 most
> Total acquisition, FY2022-FY2024: 17,392 rocket systems — #2 most
> Total acquisition spending, FY2022-FY2024: $3.2 billion — #18 most
> Service branches: Army
> Primary contractor(s): Lockheed Martin. Pratt & Whitney
[in-text-ad-2]
1. Next Generation Squad Weapon (NGSW)
> Requested budget acquisition, FY2024: 33,473 firearms
> Weapon cost, FY2024: $8,750 per acquired firearm — #49 most
> Acquisition spending, FY2024: $292.9 million — #48 most
> Total acquisition, FY2022-FY2024: 59,039 firearms — #1 most
> Total acquisition spending, FY2022-FY2024: $556.6 million — #57 most
> Service branches: Army
> Primary contractor(s): SIG Sauer, Vortex Optics
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
