The White House is convening senior executives from top U.S. defense contractors, including Lockheed Martin and RTX/Raytheon, to accelerate weapons production after recent strikes on Iran and other military operations have depleted stockpiles.

Officials say the meeting, scheduled for Friday, will focus on restoring U.S. munitions inventories and ensuring key weapons like Tomahawk cruise missiles are produced faster. The Pentagon is preparing a roughly $50 billion supplemental budget to fund replenishment and increase annual missile output to 1,000 units.

Deputy Defense Secretary Steve Feinberg is leading the effort, with contractors urged to prioritize production over shareholder payouts. Companies that underperform could face penalties or even contract termination under recent executive orders.

Stockpiles strained by multiple conflicts

The urgency comes after U.S. strikes on Iran over the weekend and ongoing operations in Ukraine and Gaza. Tomahawk missiles, F-35 stealth fighters, and one-way attack drones were heavily deployed in the recent Iran strikes.

Raytheon has agreed to increase Tomahawk production, while the Pentagon currently plans to purchase 57 missiles in 2026 at about $1.3 million each. Despite public statements from President Trump claiming an “unlimited supply” of munitions, behind the scenes, stockpiles are under significant pressure.

Regional tensions

The escalation has also disrupted regional security. The U.S. has closed embassies in Saudi Arabia, Kuwait, and Lebanon, advising citizens to leave certain areas after suspected Iranian drone attacks.

U.S. forces have struck nearly 2,000 targets in Iran, destroying hundreds of ballistic missiles, launchers, and drones. In retaliation, Iran launched over 500 ballistic missiles and 2,000 drones, prompting ongoing U.S. efforts to neutralize remaining mobile missile launchers.

The conflict has triggered global economic ripples, with oil prices surging after disruptions in the Strait of Hormuz and U.S. stock indices, including the Dow, S&P 500, and Nasdaq, posting small declines.

Admiral Brad Cooper, head of U.S. Central Command, confirmed that more than 50,000 troops, 200 fighter jets, two aircraft carriers, and bombers are involved, with additional assets en route. U.S. forces are working to degrade Iran’s air defenses and hunting mobile missile launchers to reduce future threats.