The Pentagon plans to spend almost $18 billion to develop, produce and support its new interceptor to stop incoming nuclear missiles from North Korea or Iran, the first major defense procurement award of the Biden administration, according to newly released figures.

Teams led by Lockheed Martin Corp. and Northrop Grumman Corp. will receive between them as much as $13.1 billion in the development phase of the Next Generation Interceptor. Their competition will culminate in a winner-take-all selection process following a “critical design review” — possibly by 2026 — leading to the construction of as many as 31 new interceptors, including 10 for testing.

The production phase is estimated to cost $2.3 billion, with long-term support costs totaling another $2.3 billion, according to estimates prepared by the Pentagon’s independent cost assessment unit.