Austin Vernon discusses the economic logic of smart bombs:
US smart bombs like the GPS-guided JDAM and the laser-guided Paveway cost somewhere between $10,000 and $30,000 to manufacture. They are nearly 100% accurate in hitting a target, while unguided bombs are stuck with single-digit accuracy numbers. Unguided dumb bombs cost $2000-$3000 per bomb. Smart bombs payout immediately by requiring a fraction of the ordnance.
It is worse than that, though. A fighter jet like the US Navy’s F-18 costs over $10,000 an hour to operate, not including tankers. A B-52 bomber costs $70,000 an hour. Attacking targets using dumb bombs requires ten times the sorties at a significant cost premium and exposes planes and pilots to more risk.
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Modern smart bombs fired by aircraft can provide support and screening for fast advancing mechanized columns instead of artillery. In the early Afghanistan conflict in 2001, the US deployed zero artillery because of its weight and logistics challenges. Combat aircraft were able to cover US ground forces against light Taliban forces.
In the 2003 invasion of Iraq, armor columns brought much less artillery than in 1991. Aircraft took over the strategic mission, leaving counter-battery fire and all-weather close fire support to artillery forces.
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Smart weapons also have standoff capability. An unpowered JDAM bomb can glide over 25 km.
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Drones are a continuation of the precision-guided munition paradigm. Smart bombs can make a plane 20x more effective. Drones are force multipliers across the board. The Army and Air Force have been drone leaders but need to continue to invest in drones across the spectrum. They need large, expensive drones that can operate far from bases and inexpensive micro-drones that can disrupt enemy formations or intercept enemy micro-drones. Modern warfare is an o-ring industry because enemies exploit gaps relentlessly.