U.S. President Donald Trump unveiled a plan for his ambitious "Golden Dome" missile defense shield this week, stating it will cost $175 billion and take some three years to develop.

Trump in his first week back in office signed an executive order directing the Pentagon to develop an American version of Israel's infamous Iron Dome air defense system, which intercepts incoming short-range rockets and shells as a major layer of the country's defense—a project developed with U.S. support.