Trump Touts 'Exquisite and Elite' Weapons Production as Iran War Costs Hit $33.4 Billion, First F-35A Suffers Battle Damage Among Dozens of Aircraft
Iranian attacks have inflicted substantial damage on U.S. bases and aircraft in the Middle East, as the cost of the war has been estimated at $33.4 billion as of the end of June. A Lead Inspector General report to Congress, released by the U.S. Department of Defense on Monday, detailed the impact of the conflict up until the end of June. The report revealed that Iranian strikes have damaged or destroyed hundreds of buildings and structures at U.S. bases, as well as dozens of U.S. aircraft. The war’s costs include $184 million in physical damage to U.S. diplomatic facilities in Iraq, Kuwait, Saudi Arabia and the United Arab Emirates (UAE). It has also resulted in strategic inventory shortfalls and exposed industrial-base bottlenecks that could hinder munitions resupply. The report documented the first instance of a fifth-generation F-35A suffering battle damage. By end-June, four F-15E fighter jets, an A-10 ground attack aircraft, seven KC-135 refueling aircraft, over 30 drones, and seven helicopters were either damaged or destroyed. Read Also: Shot Down Over Iran, F-15 Pilot 'Bravo' Recounts 70-100 MPH Fall and Surviving 2 Days Alone: 'Modern-Day Miracle' Trump Touts US Weapons Out
S. 4 billion as of the end of June. S. Department of Defense on Monday, detailed the impact of the conflict up until the end of June.
S. S. aircraft. S.
diplomatic facilities in Iraq, Kuwait, Saudi Arabia and the United Arab Emirates (UAE). It has also resulted in strategic inventory shortfalls and exposed industrial-base bottlenecks that could hinder munitions resupply. The report documented the first instance of a fifth-generation F-35A suffering battle damage. By end-June, four F-15E fighter jets, an A-10 ground attack aircraft, seven KC-135 refueling aircraft, over 30 drones, and seven helicopters were either damaged or destroyed.
S. is producing more "Exquisite and Elite Weapons" than at any point in its history. This includes Lockheed Martin Corp ‘s. (NYSE: LMT ) THAAD, RTX Corp.
’s Raytheon. S. Navy, with annual output set to exceed 1,000 missiles. In July, the Pentagon committed more than $135 billion to accelerate Patriot interceptor and nuclear-submarine production.
6 billion for PAC-3 MSE interceptors, supporting its goal of producing 2,000 missiles annually and tripling capacity by 2030. 5 billion from the Trump administration’s previous estimate of $29 billion released in May. The updated estimate came as the Pentagon sought nearly $70 billion in supplemental funding for the Iran conflict. S.
faces "critical shortfalls" without the funds. War Pushes Energy Costs Higher The conflict has also added about $115 billion in energy costs, or roughly $860 per household, according to Moody’s Analytics Chief Economist Mark Zandi. This has particularly affected lower-and middle-income Americans, who have less stock-market wealth and more debt. Meanwhile, supply disruptions in the Persian Gulf due to the conflict could drive crude oil prices above $120 per barrel, as Goldman Sachs warned.
The firm views the increase in oil prices as relatively moderate despite heightened tensions in the Persian Gulf, citing two key factors. First, analysts noted that commercial inventories across OECD economies have declined only marginally since the war began. Second, they expect supply to continue adapting through "dark," unrecorded flows via the Strait of Hormuz and rerouted pipelines. The analysts also argued that alarmist oil-price.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published editors. Read Also: Gavin Newsom Says Trump Knew Iran War Would Cause Hormuz Disruptions, Skyrocketing Costs, but Did 'Nothing'—Americans 'Owed' Answers Image via Shutterstock