We need to talk about the absolute economic absurdity of modern air defense.
I want you to really internalize this: for the last few years, the entire global military apparatus has been bleeding money in the most embarrassing way possible. We have seen NATO, Russia, Ukraine—literally everyone—trading million-dollar interceptor missiles for drones that cost less than a used Honda Civic. We are talking about $20,000 loitering munitions or $2,000 FPVs with 3D-printed warheads being shot down by munitions that cost more than most people will earn in a decade.

It is structurally unsustainable. It is broken. And the military-industrial complex knows it, which is why they are currently scrambling to fix the math with a new generation of tech: lasers, high-power microwaves, and AI command systems. They are promising "pennies per shot" lethality.
But here is the part that nobody is talking about—and this is the material reality that drives me insane: these "cheap" shots are being fired from platforms that are absolutely gorging on finite resources. Specifically, silver. We are building a new technological superstructure on top of a metal that is already in a massive structural deficit.
DragonFire: The UK’s $13 Answer to the Crisis
The UK’s DragonFire laser is the headline right now. In trials at the Hebrides range, this thing burned down drones flying at 400 mph. It hit coin-sized targets from a kilometer away. And the cost? Roughly £10 (~$13) worth of electricity per shot.
Do you understand how ridiculous that is compared to a Patriot missile? The British Ministry of Defence looked at the ledger and panic-accelerated the deployment. They are bolting these things onto Type 45 destroyers starting in 2027—five years ahead of schedule.
On paper, this solves the economic contradiction of drone warfare. Instead of firing a six-figure missile at a flying lawnmower, you just pump electricity through a laser and carve the drone out of the sky. Infinite ammo, limited only by your capacitors. But DragonFire isn't magic; it's a massive, complex optical system built by MBDA and Leonardo, and it is just one part of a desperate pivot to directed energy.

Israel’s Iron Beam: Real Kills, Not Just PowerPoints
If DragonFire is the prototype, Israel’s Iron Beam is the reality. Israel is effectively the first major power to take directed-energy counter-drone tech out of the lab and into deployed doctrine.
Israeli officials have confirmed the system is operational. It sits alongside the Iron Dome, designed to roast rockets and drones out to 10 km with 100 kW-class power. During the fighting in Gaza and the north, they were quietly using these lasers to down dozens of UAVs.
This is the future of the "air defense stack":
- Heavy missiles for the big threats.
- Cheaper missiles for the mid-range.
- Lasers and microwaves for the swarm.
That entire stack runs on incredibly dense electronics, radar, and high-power electrical systems. And all of that requires silver.
Looking to diversify your portfolio with tangible assets? Jim Cook at Investment Rarities offers expertly curated asset investments with their extremely dedicated team. Discover unique opportunities often overlooked by traditional markets. Visit InvestmentRarities.com Today!
The U.S. Army: Microwaves and "Very High Risk" AI
The Americans are doing what Americans do: trying to build an entire ecosystem. You have the DE M-SHORAD program, which is bolting 50 kW-class lasers onto Stryker vehicles. They are already testing these in the Middle East.
But the Army isn't stopping there. They are looking at High-Power Microwave (HPM) systems, like Epirus’s Leonidas. This thing doesn't just shoot a beam; it fries electronics with bursts of electromagnetic energy. In tests just a few months back, Leonidas systems reportedly erased swarms of 49+ drones in a single pulse.
To run all this, they are building NGC2 (Next Generation Command and Control). This is a software-heavy network developed with Palantir and Anduril to fuse everything into one AI-assisted kill web. It is a "move fast, break things" program—so fast that internal memos called it "very high risk" for cybersecurity. But they don't care. They are pushing it because the alternative is losing the drone war.
Europe’s “drone wall” and the rise of layered C‑UAS
Europe is watching Ukraine and realizing their Cold War toys don't work against hobby-grade threats. That is the driver behind the European "Drone Wall"—a plan to build a barrier from the Baltics to the Black Sea using layered sensors, jammers, and directed energy.
We are seeing systems like Merops rolled out to NATO’s eastern flank. We are seeing a continent-wide mesh of radar and electronic warfare. Every serious military is sketching these systems into their force plans.

Flagship anti‑drone and directed‑energy systems (2025 snapshot)
Anti-Drone Systems
GLOBAL DEFENSE INITIATIVE // 2025 SNAPSHOT // DIRECTED ENERGY
DragonFire
United Kingdom
TYPE
High-Energy Laser (50kW+)
KEY STAT
~$13 per shot
Coin accuracy at 1km
Iron Beam
Israel
TYPE
High-Energy Laser (100kW)
KEY STAT
7-10km Range
Integrated into Iron Dome
DE M-SHORAD
USA
TYPE
Mobile Laser (50kW)
KEY STAT
Stryker Mounted
Deployed for feedback
Leonidas
USA (Epirus)
TYPE
High-Power Microwave
KEY STAT
Swarm Defeat
49+ drones per pulse
Drone Wall
EU / NATO
TYPE
Integrated Sensor Mesh
KEY STAT
Border Defense
Multi-national mesh
These are the headline systems, but every serious military is now sketching some combination of lasers, microwaves, jammers, and cheap interceptors into its future force plans. That means they’re also sketching in a lot more high‑end electronics – and therefore a lot more silver – whether they realize it or not.

The Material Reality: Where Silver Goes to Die
THE CRITICAL PATH
TARGET COMPONENT ANALYSIS:
WHY SILVER?
Silver sits in almost every critical path because it holds the highest electrical and thermal conductivity of any metal.
WARNING:
You cannot replace it in mission-critical contacts without losing performance.
680 MILLION
OUNCES // 2024 INDUSTRIAL DEMAND
The market is in a structural deficit. We are missing hundreds of millions of ounces relative to demand.
"And that is before we fully price in this new wave of military tech."
SILVERWARS.COM
INTELLIGENCE DIVISION // Q1 2026

Very rough, order‑of‑magnitude silver content in key subsystems
These are ballpark, illustrative ranges for complex military systems, not official bill‑of‑materials numbers.
Ag Content Breakdown
ESTIMATED SILVER LOAD PER UNIT // DEFENSE ELECTRONICS
HPM Emitter Array (GaN)
HIGHEST DENSITY COMPONENT
Silver Usage
- RF Plating & Shielding
- High-Power Bonding
- High-Amp Connectors
- Solid State Arrays
High-Power Laser Module
OPTICAL & THERMAL
DE Power Bank
ENERGY STORAGE
AI Command Node (Server)
COMPUTE INFRASTRUCTURE
High-speed PCBs, lead-free solders (SAC alloys), and chip interconnects. Essential for NGC2 kill-web integration.
⚠️ Strategic Resource Warning
Unlike consumer electronics, military systems remain in service for decades. This silver is effectively removed from the global supply chain indefinitely.

What a scaled anti‑drone laser/HPM network could mean for silver
Again, these are scenario‑level estimates, not precise forecasts.
Scenario Projection
Projected cumulative silver drawdown based on conservative global deployment of directed-energy assets.
10,000 Tactical Laser Units
Mobile SHORAD units & Light Vehicle Integrations
5,000 High-Power Microwave Nodes
Fixed site protection & "Drone Wall" nodes (High Density)
500 Naval/Base Defense Lasers
DragonFire/Iron Beam Class (100kW+) Systems
Cumulative Strategic Impact
*ESTIMATE IS CONSERVATIVE. DOES NOT INCLUDE MISSILES, EXPENDABLES, OR SUPPORT INFRASTRUCTURE.
Those three scenarios alone – very conservative compared to where planners actually want to go – tie up on the order of 430,000+ ounces of silver just in the platforms, ignoring missiles, drones, satellites, command posts, and the fact that almost every new “drone wall” node in Europe or Asia will look a lot like these builds. In isolation, that’s a rounding error next to 680 million ounces of industrial demand. But defense is only one slice of a bigger picture where solar, EVs, AI data centers, and telecoms are all gorging on the same metal.
Once silver disappears into a PV panel, a missile seeker, or a classified laser fire‑control rack, it almost never comes back. These are low‑recycle, high‑purity applications scattered across the globe, not neatly sorted scrap streams.

War Spending and the Fake Price
If you have read my breakdown in Solar, AI and Missiles, you know the problem. Once silver disappears into a missile seeker or a laser fire-control rack, it does not come back. These are low-recycle applications. It's not like melting down grandma's silverware.
Under a functioning market, the massive deficits caused by industrial and military demand would send the price of silver to the moon. But we don't have a functioning market. We have the COMEX that goes offline for... reasons.
The futures complex isn't there to show you scarcity; it's there to manage it. It keeps the price signal calm while vault inventories bleed out. Governments need infinite cheap silver to feed their new directed-energy toys, and they will use every tool—including market management and psychological operations—to keep it that way.









