Everyone knows military technology projects take forever and cost billions to produce, right? Just look at the Air Force’s latest fighter jet, the F-22 Raptor. The Raptor’s initial requirement was written in 1981, with the objective of developing an air superiority fighter to counter the Soviet air threat. It was declared operational in December of 2005, 14 years after the USSR collapsed. Better late than never, eh? After spending $65 billion (that’s billion-with-a-b), the Raptor fleet was capped at 187 aircraft, just 28 percent of the 650 originally envisioned.
This isn’t a unique situation. The V-22 Osprey has an almost identical story (requirement published in 1981, first delivery in 2005), except instead of $65 billion the military is projected to spend a mere $55B to acquire as many as 458 Ospreys. Keep reading →