Defense & National Security

Major US DoD Programs

Top 20 active US Major Defense Acquisition Programs (MDAPs) Q1 2026. Sources: DoD Selected Acquisition Reports, GAO.
ProgramPrimeDomainLifecycle $BYearsUnitsDeliveredFY26 $BStatus
F-35 Lightning II

DoD's most expensive program ever; F-35A/B/C variants

Lockheed MartinAir$20502007-20442,4561,142$14Production + sustainment
F-47 NGAD

6th-gen air dominance; Boeing won over LMT + NOC

BoeingAir$2502025-20502000$3.5EMD awarded Mar 2025 to Boeing; first flight ~2029
B-21 Raider

Stealth strategic bomber; replaces B-1B + B-2

Northrop GrummanAir$2032025-20401006$4.5Production ramp; first delivery 2024
Golden Dome (Homeland Missile Shield)

Trump admin priority Jan 2025; multi-layer (boost-phase to terminal)

TBD multi-primeSpace/Missile Defense$1752026-20320$13.4FY2026 budget request $13.4B; Israeli Iron Dome-inspired layered architecture
Virginia-class SSN Block V/VI

VPM (Virginia Payload Module) + AUKUS sales to Australia

GD Electric Boat + HIISea$165ongoing3824$9.6Two-per-year build cadence target; AUKUS Pillar I support
Sentinel ICBM (LGM-35A)

Replaces Minuteman III; silo modernization driving cost growth

Northrop GrummanLand$1412026-20506590$5.6Nunn-McCurdy critical breach Jan 2024; restructured Jul 2024; +37% cost growth
Columbia-class SSBN

Replaces Ohio-class; nuclear deterrent backbone

GD Electric Boat (HII partner)Sea$1322021-2042120$9.4First-in-class production; first delivery slipped to 2027
DDG-51 Flight III

Arleigh Burke destroyer; backbone of US surface fleet

HII + GD-BIWSea$86ongoing9673$5.6Flight III with SPY-6 radar; production through 2030s
Ford-class CVN

Ford-class; lead ship had EMALS + AAG issues

HII Newport NewsSea$642008-205841$3.4CVN-79 Kennedy delivery 2025; CVN-80 Enterprise 2029
KC-46 Pegasus

Boeing fixed-price losses ~$7B

BoeingAir$492011-2027179105$2.7Production; refueling boom remote-vision-system fix
Constellation-class FFG

FREMM-derivative; design changes from Italian original drove delays

Fincantieri Marinette MarineSea$222020-2035200$1.6First-in-class FFG-62 USS Constellation construction delayed 2-3 years; delivery 2027-2028
Long Range Hypersonic Weapon (LRHW Dark Eagle)

Conventional Prompt Strike; common hypersonic glide body with Navy

Lockheed Martin + DyneticsLand$182023-20302400$1.4First Army battery declared IOC late 2025; production ramp 2026-2027
Next-Generation Interceptor (NGI)

Replaces GBI for homeland missile defense

Lockheed Martin + Aerojet RocketdyneSpace/Missile Defense$182025-2035310$2Critical Design Review 2025; first delivery 2028
Conventional Prompt Strike (Navy)

Naval hypersonic; common glide body with Army Dark Eagle

Northrop Grumman + Lockheed MartinSea$142025-2032960$1.1Zumwalt + Virginia integration; first IOC 2027
Sentinel/Tranche 2 Transport Layer (SDA)

JADC2 backbone; LEO mesh network

Multi-prime (LMT, NG, L3Harris, York, Rocket Lab)Space$142023-20271580$2.5First launches Sep 2024; full constellation Q4 2026
AMPV (Armored Multi-Purpose Vehicle)

Bradley-derivative chassis; 5 mission variants

BAE SystemsLand$142014-20352,936280$0.6Production at York PA; replacing M113 family
T-7A Red Hawk

Pilot trainer; Boeing fixed-price contract = $2B+ losses

BoeingAir$112018-20353510$0.7EMD ongoing; ejection seat + flight control redesigns; IOC 2027-2028
Collaborative Combat Aircraft (CCA) Inc 1

Increment 1 awarded Apr 2024; Increment 2 selection 2026

Anduril + General AtomicsAir$62025-20301,0000$1Production representative test articles 2025; IOC 2027-2028
Replicator (Drone Mass)

Pentagon's drone-mass initiative; vendors include Anduril, Saronic, AeroVironment, Skydio

Multi-vendorMulti-domain Autonomy$52024-20261,000350$0.5Iteration 1 fielded thousands of attritable autonomous systems; Iteration 2 underway
Tranche 3 Transport Layer (SDA)

T2 successor; deployment 2028

Multi-prime (LMT $1.1B, L3Harris $843M, Rocket Lab $805M, NG $764M)Space$42025-20291400$1Awarded Dec 2025 ($3.5B total)

Top 20 active US Major Defense Acquisition Programs (MDAPs) Q1 2026, sorted by lifecycle cost. Sources: DoD Selected Acquisition Reports, GAO Annual Weapons Acquisition Report.

International Defense Programs

Major non-US programs and multinational efforts — GCAP, FCAS, AUKUS, Type 26, MGCS, KF-21, and more.
ProgramPartnersPrimesDomain$B LifecycleIOCStatus
AUKUS Pillar I (Australia SSN)

Largest AUS defense procurement ever; AU$368B program lifetime

US, UK, AustraliaGD Electric Boat, BAE SystemsSea$24520323-5 Virginia-class transferred to RAN early 2030s; SSN-AUKUS class joint design 2030s+
FCAS (Future Combat Air System)

Dassault-Airbus tensions over leadership; €100B+ programme

France, Germany, SpainDassault, Airbus, IndraAir$1202040Phase 1B awarded Dec 2022; technology demonstrator phase ongoing
GCAP (Global Combat Air Programme)

6th-gen fighter; UK Tempest + Japan F-X merged Dec 2022

UK, Italy, JapanBAE Systems, Leonardo, Mitsubishi HeavyAir$1002035Joint venture company Edgewing established Dec 2024; design phase
Rafale (multi-export)

France's flagship export

France, India, UAE, Egypt, Greece, IndonesiaDassaultAir$60ongoingProduction at full rate; 290+ exports orders accumulated
MGCS (Main Ground Combat System)

Leopard 2 + Leclerc replacement; competing with Rheinmetall KF51 Panther

France, GermanyKNDS (KMW + Nexter), RheinmetallLand$452040MoU signed Apr 2024; Phase 1 architecture studies
Polish Modernization Programme

Largest European arms deal post-Ukraine; ~$42B+ committed

Poland, South Korea, USHyundai Rotem, Hanwha, Lockheed MartinMulti$422025K2 tank deliveries began 2022 (180 of 1000 ordered); K9 howitzers + FA-50 fighters + HIMARS + Patriot
Type 26 City-class FFG

Combined fleet 32 hulls (8 UK + 9 AU + 15 CA)

UK, Australia, CanadaBAE SystemsSea$352027First UK ship HMS Glasgow trials 2026; AU Hunter-class + CA River-class derivatives
Eurofighter Typhoon (Tranche 5)

Bridge between Eurofighter and GCAP/FCAS

UK, Germany, Italy, SpainBAE, Airbus, LeonardoAir$252027Continued production; Saudi Arabia + Spain orders 2024-2025
Tempest (UK BCA element)

Distinct from FCAS

UKBAE Systems, Rolls-Royce, Leonardo UKAir$252035Subsumed into GCAP Dec 2022; Team Tempest continues
Boxer / Lynx KF41 (multi-buyer)

Modular wheeled + tracked combat vehicles

Germany, Australia, UK, Slovenia, etc.Rheinmetall, KMWLand$202025Boxer in service multiple countries; Lynx selected by AU for Land 400 Phase 3 (won by Hanwha 2023)
Saab Gripen E/F (orders)

Lower-cost alternative to F-35; export-friendly

Brazil, Sweden, othersSaabAir$82025Brazil F-X2 deliveries continuing; Thai + Colombia interest 2025
Hyundai KF-21 Boramae

4.5-gen fighter; KAI prime; Indonesia partner

South Korea, IndonesiaKAIAir$82026First production batch deliveries late 2025; mass production 2026

Major non-US programs and multinational efforts. IOC = Initial Operating Capability. Sources: program offices, joint program announcements.

Foreign Military Sales Pipeline

Major FMS notifications 2024–Q1 2026. Notifications represent intent + ceiling, not finalized sales. Source: DSCA congressional notifications.
AnnouncedBuyerSystemValueUnitsPrime
2026-04PhilippinesF-16V$5.5B20Lockheed Martin
2026-03Saudi ArabiaTHAAD batteries$12.0B7Lockheed Martin
2026-02Czech RepublicF-35A$5.5B24Lockheed Martin
2026-01NorwayP-8A Poseidon$2.1B4Boeing
2025-12AustraliaTomahawk Block V$1.3B200RTX
2025-11GreeceF-35A$8.6B20Lockheed Martin
2025-09JapanTomahawk Block IV/V$2.4B400RTX
2025-08TaiwanF-16V Block 70 + munitions

Sustainment + munitions package; F-16V deliveries previously approved

$5.4B0Lockheed Martin
2025-06Saudi ArabiaPAC-3 MSE batteries$14.5B6Lockheed Martin
2025-03Ukraine (USAI + presidential drawdown)Combined munitions package$3.8BMulti
2025-01South KoreaAEW&C aircraft (E-7A Wedgetail)$5.3B4Boeing
2024-11IsraelF-15IA + munitions$18.8B50Boeing + RTX
2024-10RomaniaF-35A$7.2B32Lockheed Martin
2024-08GermanyF-35A$8.4B35Lockheed Martin
2024-03PolandApache AH-64E$12.0B96Boeing

Major FMS notifications 2024–Q1 2026. Notifications represent intent and ceiling, not final actuals — some expire without sale. Sources: DSCA congressional notifications.

Program Cost Overruns

Programs with ≥20% cost growth or Nunn-McCurdy breaches 2020-2026. Source: GAO Annual Weapons Acquisition Report, DoD SAR.
ProgramPrimeOriginal $BCurrent $BGrowthStatus
F-35 Joint Strike Fighter

Lifetime O&S cost projections continue to grow

Lockheed Martin$233$412+77%Multiple breaches over program history; sustainment cost concerns ongoing
Sentinel ICBM

Cost growth from silo modernization scope expansion

Northrop Grumman$95.8$140.9+47%Critical breach Jan 2024; restructured Jul 2024; certified to continue
Constellation FFG

GAO reports of significant performance shortfalls

Fincantieri$16$22+38%First-of-class delivery delayed 2-3 years to 2027; design changes from Italian FREMM origin
Columbia-class SSBN

Budget pressures + workforce constraints

GD Electric Boat$109$132+21%First-of-class delivery slipped to 2027 from 2027 baseline; submarine industrial base capacity issue
T-7A Red Hawk

Boeing fixed-price contract = ~$2B+ losses

Boeing$9.2$11+20%Multiple delays; ejection seat redesign + flight controls; IOC slipped to 2028
Tactical Tomahawk Block V

Cost growth from production rate increases + supplier base

RTX$4$4.6+15%Production; demand surge from Ukraine + Houthi engagements
B-21 Raider

Tightly classified; cost data limited

Northrop Grumman$80$80+0%On baseline; first 21 LRIP units delivered; NG absorbing some losses on first lots
Next-Generation Interceptor

LMT-led after Northrop Grumman team eliminated 2024

Lockheed Martin$17.7$17.7+0%On baseline; first delivery 2028
Future Long Range Assault Aircraft (FLRAA)

Won by Bell V-280 Valor over Sikorsky-Boeing SB-1 Defiant 2022

Bell Textron$70$70+0%EMD ongoing; first flight 2026; Black Hawk replacement
KC-46 Pegasus

Boeing fixed-price contract = ~$7B total losses; cost growth absorbed by contractor

Boeing$51$49+-4%Boeing absorbed losses; remote-vision-system fix in progress; production continues

Programs with cost growth ≥20% or Nunn-McCurdy breaches 2020-2026. Sorted by growth %. Sources: GAO Annual Weapons Acquisition Report, DoD Selected Acquisition Reports.

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Defense & National Security - Programs | Sterling