Earlier this year, the Biden Administration submitted an $842 billion defense budget for fiscal 2024. Of that spending, $185.1 billion is marked for the U.S. Air Force, closely in line with the $185.5 billion designated for the U.S. Army – even though the Army enlists about 150,000 more active-duty troops than the Air Force.
Higher per capita investment in the Air Force is largely attributable to the development and procurement of advanced aircraft. The Air Force’s fiscal 2024 budget includes $13.6 billion for the F-35 Joint Strike Fighter, as well as $5.3 billion for the Northrop Grumman-developed B-21 Raider, the single-wing stealth bomber designed to replace the B-2 spirit. The military is expected to spend at least $20 billion developing the Raider before it enters service in the coming years.
While the exact cost of a single B-21 Raider remains to be seen, the bomber will, without question, eventually rank among the most expensive aircraft in the USAF arsenal. (Here is a look at the newest aircraft in the U.S. Air Force.)
Using Department of Defense data, 24/7 Wall St. identified the most expensive aircraft in the U.S. Air Force. Based on inflation-adjusted estimated unit costs on weapons systems with available data, there are currently 18 aircraft in the USAF fleet that cost over $100 million a piece, not including drones and unmanned aerial vehicles.
The aircraft on this list serve a range of functions, from communications and transport to heavy bombers and fighter jets. The estimated unit cost of some of the aircraft on this list is well above $300 million – and in many cases, the USAF has dozens, if not hundreds of these high-value systems in its inventory. (Here is a look at the 24 planes that form the backbone of the U.S. Air Force.)
Unit costs are only the tip of the iceberg when it comes to aircraft. Many cost tens of thousands of dollars an hour just to fly, not even accounting for the cost of the ordnance on board or the time and money required for maintenance.
Here are the most expensive planes in the US Air Force.
18. CV-22 Osprey
> Est. unit cost in 2022: $103.2 million
> USAF inventory: 51
> Aircraft’s primary function: Special operations forces long-range infiltration, exfiltration, and resupply
> Primary contractor(s): Bell Textron and Boeing
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17. HC-130P/N King
> Est. unit cost in 2022: $104.3 million
> USAF inventory: 13
> Aircraft’s primary function: Rescue platform
> Primary contractor(s): Lockheed Martin
16. B-52H Stratofortress
> Est. unit cost in 2022: $109.3 million
> USAF inventory: 72
> Aircraft’s primary function: Heavy bomber
> Primary contractor(s): Boeing
15. F-35A
> Est. unit cost in 2022: $111.2 million
> USAF inventory: 153
> Aircraft’s primary function: Multirole: ground attack, air superiority
> Primary contractor(s): Lockheed Martin
14. MC-130J Commando II
> Est. unit cost in 2022: $114.2 million
> USAF inventory: 52
> Aircraft’s primary function: Infiltration, exfiltration and resupply of special operations forces by airdrop or airland, air refueling of SOF helicopter/tilt rotor aircraft
> Primary contractor(s): Lockheed Martin
13. EC-130J Commando Solo
> Est. unit cost in 2022: $123.8 million
> USAF inventory: 7
> Aircraft’s primary function: Airborne information operations broadcasts
> Primary contractor(s): Lockheed Martin
12. AC-130W Stinger II
> Est. unit cost in 2022: $137.3 million
> USAF inventory: 11 (includes all AC-130s)
> Aircraft’s primary function: Close air support and air interdiction with associated collateral missions
> Primary contractor(s): Lockheed Martin
11. F-22 Raptor
> Est. unit cost in 2022: $143.9 million
> USAF inventory: 178
> Aircraft’s primary function: Air dominance, multi-role fighter
> Primary contractor(s): Lockheed Martin, Boeing
10. KC-10 Extender
> Est. unit cost in 2022: $161.4 million
> USAF inventory: 59 (as of October 2017)
> Aircraft’s primary function: Aerial tanker and transport
> Primary contractor(s): Boeing
9. MC-130H Combat Talon II
> Est. unit cost in 2022: $180.0 million
> USAF inventory: 12
> Aircraft’s primary function: Infiltration, exfiltration and resupply of special operations forces
> Primary contractor(s): Lockheed Martin
8. AC-130J Ghostrider
> Est. unit cost in 2022: $185.6 million
> USAF inventory: 17
> Aircraft’s primary function: Close air support and air interdiction with associated collateral missions
> Primary contractor(s): Lockheed Martin
7. AC-130U
> Est. unit cost in 2022: $236.3 million
> USAF inventory: 11 (includes all AC-130s)
> Aircraft’s primary function: Close air support, air interdiction and force protection
> Primary contractor(s): Lockheed Martin, Boeing
24/7 Wall St.
6. C-17 Globemaster III
> Est. unit cost in 2022: $369.4 million
> USAF inventory: 228
> Aircraft’s primary function: Cargo and troop transport
> Primary contractor(s): Boeing
5. B-1B Lancer
> Est. unit cost in 2022: $391.3 million
> USAF inventory: 43
> Aircraft’s primary function: Long-range, multi-role, heavy bomber
> Primary contractor(s): Boeing, EDO Corporation
4. E-4B
> Est. unit cost in 2022: $407.6 million
> USAF inventory: 4
> Aircraft’s primary function: Airborne operations center
> Primary contractor(s): Boeing
3. E-8C Joint Stars
> Est. unit cost in 2022: $446.3 million
> USAF inventory: 16
> Aircraft’s primary function: Airborne battle management
> Primary contractor(s): Northrop Grumman
2. E-3 Sentry (AWACS)
> Est. unit cost in 2022: $493.0 million
> USAF inventory: 31
> Aircraft’s primary function: Airborne battle management, command and control
> Primary contractor(s): Boeing
24/7 Wall St.1. B-2 Spirit
> Est. unit cost in 2022: $2.1 billion
> USAF inventory: 18
> Aircraft’s primary function: Multi-role heavy bomber
> Primary contractor(s): Northrop Grumman, Boeing, Hughes Radar Systems Group, General Electric, and Vought Aircraft Industries, Inc.
Methodology
To identify the most expensive aircraft in the U.S. Air Force, 24/7 Wall St. reviewed USAF data on the unit price of its aircraft fleet. Unit prices were adjusted for inflation from the year listed by the Air Force to October 2022 using the CPI inflation calculator from the Bureau of Labor Statistics. Of the dozens of aircraft reviewed, we listed the 18 with unit prices above $100 million.
Data on inventory count of each aircraft is from the 2022 World Air Forces report from FlightGlobal, an aviation news and data company, as well as the Congressional Budget Office’s 2018 report “The Cost of Replacing Today’s Air Force Fleet,” and the U.S. Air Force. All inventory counts are for 2021 unless otherwise noted.
Data on aircraft function and contractor is also from the USAF. Drones and other unmanned aerial vehicles were excluded from analysis.
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