SM-3 Block IIA vs Fateh-110: Cost-Exchange Ratio & Combat Analysis
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2026-03-21
3 min read
Overview
This analysis compares the SM-3 Block IIA, a US Exo-atmo BMD system costing $27.9M per unit, against the Fateh-110, an Iranian SRBM costing $300K per unit. The cost-exchange ratio of 93.0:1 favors the attacker — meaning it costs the defender 93.0x more to intercept than the missile cost Iran to produce. Exo-atmospheric kinetic kill vehicle for midcourse ballistic missile defense Solid-fueled SRBM family — Fateh-110/313/360 variants with 300-400km range
Side-by-Side Specifications
| Dimension | Sm 3 Block Iia | Fateh 110 |
|---|
| Unit Cost |
$27.9M |
$300K |
| Cost-Exchange Ratio |
93.0:1 |
93.0:1 |
| Range |
Exo-atmo BMD |
400 km |
| Inventory |
~220 |
~500 |
| Annual Production |
48/yr |
— |
| Role |
Exo-atmo BMD |
SRBM |
| Manufacturer |
RTX + MHI |
Iran / IRGC |
| Fuel |
Solid rocket |
— |
Head-to-Head Analysis
Cost-Exchange Economics
The SM-3 Block IIA costs $27.9M per unit while the Fateh-110 costs just $300K, creating a 93.0:1 cost-exchange ratio. Extremely unfavorable for the defender. This matchup is economically devastating. Iran can produce 93 Fateh-110 units for the price of a single SM-3 Block IIA interceptor.
The Fateh-110 has a 93.0:1 cost advantage over the SM-3 Block IIA. This asymmetry is a key factor in the conflict's economic sustainability.
Inventory & Depletion
Coalition forces have approximately 220 SM-3 Block IIA interceptors with annual production of 48 units. Iran maintains an estimated 500 Fateh-110 units. The SM-3 Block IIA is already 33% depleted vs operational requirements.
Iran holds a 2:1 inventory advantage in this matchup.
Tactical Engagement
The SM-3 Block IIA engages the Fateh-110 during the midcourse phase. At 400km range, the Fateh-110 is primarily a short-range threat. CSIS Dec 2025: SM-3 total ~414 (IIA+IB combined). Most expensive. Co-dev w/ Japan.
The SM-3 Block IIA is designed to counter threats like the Fateh-110, but sustained engagement at 93.0:1 cost ratios creates long-term sustainability challenges.
Scenario Analysis
Mass salvo of Fateh-110 missiles
In a saturation attack using Fateh-110 systems, the SM-3 Block IIA battery would need to engage multiple targets simultaneously. At $27.9M per interceptor, a salvo of 5 Fateh-110 missiles would cost $1.5M to launch but $139.5M to intercept.
Fateh-110
Extended conflict (30+ days)
Over 30 days of sustained combat, the SM-3 Block IIA inventory faces significant depletion pressure. Annual production of 48 units translates to just 0.1 per day — far below consumption rates during active operations. Meanwhile, Iran produces approximately 3.3 ballistic missiles and 6.7 drones per day.
Attacker (Iran) — production outpaces defender replenishment
Complementary Use
The SM-3 Block IIA should be integrated into a layered defense architecture, not relied upon as a standalone solution against Fateh-110 threats. Cost-effective lower-tier systems (Iron Dome at $80K, or Iron Beam laser at $2/shot) should handle cheaper threats when possible, preserving expensive SM-3 Block IIA interceptors for high-value targets.
Overall Verdict
The SM-3 Block IIA vs Fateh-110 matchup produces a 93.0:1 cost-exchange ratio favoring the attacker. This is one of the most economically asymmetric engagements in modern warfare. For sustained conflict planning, interceptor production ramp-up and cost-reduction programs are critical to maintaining defensive capability.
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