The White House is scheduled to host senior executives from the largest U.S. defense contractors on Friday to discuss ways to speed up weapons output as the Pentagon moves to restock inventories used in a string of recent operations, according to five people with knowledge of the plans who spoke on condition of anonymity because the discussions are private.
Invitations have gone to major suppliers, including Lockheed Martin and Raytheon parent RTX, the people said. The gathering is intended to convey the urgency in Washington to rebuild munitions and other systems after recent military actions drew heavily on U.S. inventories.
Officials said the drawdown of equipment began well before the Iran operation cited by leaders. Since the Russian invasion of Ukraine in 2022 and Israel's military campaign in Gaza, the United States has expended substantial quantities of materiel, including artillery systems, ammunition and anti-tank missiles. Sources said the strikes on Iran consumed longer-range missiles in particular - weapons that differ from those provided to Kyiv.
At least one source said the focus of the White House meeting was expected to be pressing weapons manufacturers to increase the pace of production. Requests for comment from Lockheed, the Pentagon and the White House were not immediately answered. RTX declined to comment.
In a social media post on Monday, the president asserted there was a "virtually unlimited supply" of U.S. munitions and that "wars can be fought 'forever,' and very successfully, using just these supplies."
The meeting coincides with work at the Pentagon led in recent days by Deputy Defense Secretary Steve Feinberg on a supplemental budget request of roughly $50 billion, one of the people said. That request could be released as soon as Friday, according to the same source. The new funds would be earmarked to replace weapons expended in recent conflicts, including those in the Middle East. The figure is preliminary and could change.
The push to scale up production gained momentum after U.S. military strikes on Iran in which Tomahawk cruise missiles, F-35 stealth fighters and low-cost one-way attack drones were used on Saturday. Raytheon, which makes the Tomahawk missile, has a new agreement with the Pentagon to eventually raise production to 1,000 units per year. For planning purposes, the Pentagon currently expects to purchase 57 Tomahawk missiles in 2026 at an average price of $1.3 million each.
Administration officials have also increased pressure on the defense industry to prioritize ramping production over returning cash to shareholders. In January, the president signed an executive order directing identification of contractors judged to be underperforming on contracts while continuing to distribute profits to investors. The Pentagon is expected to publish a list of companies it deems underperforming.
Under the announced process, companies named on that list would have 15 days to submit board-approved corrective plans. If the Pentagon finds those plans inadequate, it may pursue enforcement measures, including terminating contracts.
Separately, material in the market commentary attached to this reporting highlights investor tools that evaluate defense names. One such product, ProPicks AI, states it evaluates Lockheed Martin each month using more than 100 financial metrics to generate stock ideas, citing past winners as examples. The product description notes the AI seeks to identify risk-reward opportunities based on current data and asks whether Lockheed Martin is currently featured in its strategies.
The White House meeting and the potential supplemental request underscore a coordinated effort by the administration and the Pentagon to address near-term shortages in military stockpiles by mobilizing industrial capacity and financial resources. Officials and companies involved have so far declined or not responded to requests for additional comment.