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A missile will always be cheaper than a missile interceptor, and the interceptor will never be a 1:1 kill. Building a missile interceptor system ia a good way to get your strategic opponent to build a bigger stockpile.

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Disagree on always being cheaper. Military planners are obsessed with the best weapons, such interceptors are pricey. But look at Israel: Iron Dome. ~$50k/shot. They deliberately built a dumb SAM because it was designed to go against dumb opponents--objects falling freely on a ballistic trajectory. While they are usually facing light stuff that isn't even worth that they have successfully engaged longer range stuff that costs many times what the interceptor costs.

Overall, though, the offense always wins this one because interceptors can only protect a limited area whereas missiles can go anywhere.

Iron Dome is a great example of my point. It is a $50k interceptor designed to take out a propane tank with a rocket strapped to it, not a real ballistic missile like a Scud.

Patriot missiles ($7MM) take out Scuds ($3MM).

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