The problem of allocating defensive weapon resources to hostile targets is an optimization problem of high military relevance. The need for obtaining the solutions in real-time is often overlooked in existing literature. Moreover, there does not exist much research aimed at comparing the performance of different algorithms for weapon-target allocation. We have implemented a suite of metaheuristic algorithms for solving the static weapon-target allocation problem, and compare their real-time performance on a large set of problem instances using the open source testbed SWARD. The compared metaheuristic algorithms are ant colony optimization, genetic algorithms, and particle swarm optimization. Additionally, we have compared the quality of the generated allocations to those generated by a well-known maximum marginal return algorithm. The results show that the metaheuristic algorithms perform well on small- and medium-scale problem sizes, but that real-time requirements limit their usefulness for large search spaces.