Trump had expressed hope of creating system that can counter next-generation aerial threats just days after coming after power in his second term in January.

Project cost

According to reports, an initial sum of  $25bn (£18.7bn) has been earmarked for the project, but the government expects that the estimated cost may go up.

The expected total cost of the project is likely to touch USD 175 billion.

"This design for the Golden Dome will integrate with our existing defense capabilities and should be fully operational before the end of my term," Trump was quoted as saying by ABC News.

"So we'll have it done in about three years. Once fully constructed, the Golden Dome will be capable of intercepting missiles even if they are launched from other sides of the world and even if they are launched from space," he said.

Trump announced that Space Force General Michael Guetlein will oversee the project.

He is currently serving as the vice chief of space operations at Space Force.

Meanwhile, speaking on the project, the White House wrote on X: "President Trump announced the Golden Dome missile defense shield to protect the homeland from advanced missile threats."

"Included in the One, Big, Beautiful Bill, this project aims to ensure American security. Congress must pass the bill and send it to the President’s desk," the X post said.

Iron Dome

It is believed that the system is partly inspired by Israel's Iron Dome.

Israel has been using the system to intercept rockets and missiles fired towards it since 2011.

The Golden Dome, however, would be many times larger and designed to combat a wider range of threats, including hypersonic weapons able to move faster than the speed of sound and fractional orbital bombardment systems - also called Fobs - that could deliver warheads from space, reported BBC.