An Improved Cost Analysis of the Apollo Program

This manuscript presents a high-fidelity reconstruction of the cost of Project Apollo, including year-by-year funding for all major programs and average costs for each crewed lunar landing attempt. According to these data, the United States spent 25.8 billion on hardware, facilities, and overhead directly associated with Project Apollo between fiscal years 1960 and 1973. This represents a substantial improvement over previous cost reporting. Annual cost data enable improved adjustments for inflation, which can account for varying inflation rates throughout the 1960s and early 1970s. This enables comparisons to modern efforts to return humans to the Moon, which display a lower and slower cost profile reflecting their lower political priority.