Defense Secretary Chuck Hagel is expected to confirm next week the United States has approved $400 million in additional funding for the Iron Dome anti-missile defense system.
The system, which neutralizes both short and long-range missiles in mid-air, uses special interceptor missiles that each cost $50,000.
The U.S. has allocated an additional $220 million for the system for fiscal year 2014, and $176 million more for fiscal year 2015, Globes reported.
In 2011, the Pentagon spent $204 million on the Iron Dome system. An additional $70 million was added in 2012.
This month a fifth Iron Dome battery was deployed outside the Red Sea resort town of Eilat in response to the growing lawlessness and increasing number of terrorist training camps being established in the Sinai Peninsula.
On Wednesday morning, Eilat came under rocket fire, and Israeli media reported at least two rockets were also fired at the Jordanian port city of Aqaba as well. The Iron Dome system did not activate in response to the threat, but no one was physically injured and no property damage was reported.