Stock Markets February 28, 2026

U.S. Strikes in Iran Deploy Tomahawk Missiles, Stealth Jets and One-Way Attack Drones

Operation Epic Fury uses long-range cruise missiles, F/A-18 and F-35 fighters, and inexpensive kamikaze drones modeled on Iranian designs

By Ajmal Hussain RTX BA
U.S. Strikes in Iran Deploy Tomahawk Missiles, Stealth Jets and One-Way Attack Drones
RTX BA

U.S. Central Command says Operation Epic Fury employed a mix of Tomahawk cruise missiles, F/A-18 and F-35 fighter jets, and one-way attack drones resembling Iran's Shahed drones. The Pentagon released photos and details of the strikes, noting the first combat use by CENTCOM of low-cost kamikaze drones similar to a new LUCAS design priced at about $35,000 apiece.

Key Points

  • Operation Epic Fury used Tomahawk cruise missiles, F/A-18 and F-35 fighter jets, and one-way kamikaze drones modeled after Iran's Shahed drones, according to CENTCOM and Pentagon releases.
  • Tomahawk missiles are long-range, precision-guided weapons produced by RTX's Raytheon unit; the U.S. plans to buy 57 in 2026 and aims to eventually ramp production to about 1,000 units annually, with an average cost of around $1.3 million each.
  • The Pentagon described the use of low-cost, single-use attack drones such as the LUCAS system at roughly $35,000 apiece as part of a broader shift toward an 'affordable mass' approach, impacting defense contractors, aerospace manufacturers, and defense electronics suppliers.

Overview

The United States executed strikes on Iranian targets using a combination of long-range cruise missiles, manned stealth and multi-role fighters, and low-cost one-way attack drones as part of an operation labeled Operation Epic Fury. U.S. Central Command provided photographs and other material detailing the munitions and aircraft involved, and the Pentagon highlighted that the operation included the combat debut for a class of inexpensive, single-use attack drones modeled on Iranian designs.


Drone deployment

Photographs released by the Pentagon show suicide drones that, according to the U.S. military, appear identical to a new design called LUCAS, or Low-Cost Unmanned Combat Attack System, produced by Spektreworks of Phoenix, Arizona. The company did not reply to requests for comment. The Pentagon also said that, for the first time under CENTCOM, one-way attack drones modeled after Iran's Shahed drones were used in combat.

The Pentagon has described kamikaze drones as inexpensive systems intended to be produced by multiple manufacturers. The LUCAS model is reported to cost in the neighborhood of $35,000 each. The wider shift toward these systems is part of what the U.S. military and others have called an "affordable mass" approach, a strategy that emphasizes keeping a large inventory of relatively low-cost weapons available for operations. Observers within defense procurement circles have noted that drones have become more central to modern conflicts since Russia's invasion of Ukraine exerted pressure on militaries to adapt.


Tomahawk cruise missiles

The operation included Tomahawk Land Attack Missiles, a sea- and land-launched long-range cruise missile used for deep-strike precision missions. The Tomahawk is a GPS-enabled, precision-guided weapon capable of striking targets up to roughly 1,000 miles or 1,600 kilometers away, including in well-defended airspace. Physically, the missile is about 20 feet or 6.1 meters in length, has an 8.5-foot wingspan, and weighs around 3,330 pounds or 1,510 kilograms.

RTX's Raytheon unit is the manufacturer of the Tomahawk, which the Pentagon and manufacturers describe as non-nuclear. Pentagon budget documents show a planned purchase of 57 Tomahawk missiles in 2026, with an average unit cost of approximately $1.3 million. There is an ongoing program to invest millions of dollars to upgrade these weapons, including improvements to guidance systems. A recent arrangement between Raytheon and the Pentagon aims to enlarge Tomahawk production capacity, with an eventual target of producing 1,000 missiles per year.

Tomahawks have been flight tested by U.S. and allied militaries and have been used operationally. The weapon system was previously employed in strikes conducted by the U.S. and United Kingdom navies against Houthi rebel positions in Yemen.


Fighter jet participation

U.S. Central Command released imagery and video showing the involvement of F/A-18 and F-35 fighter jets in the strikes. The F-35 is a fifth-generation stealth platform designed to reduce radar detection and to carry precision-guided munitions. The F-35 has been widely deployed by the United States across the Middle East.

The F/A-18, produced by Boeing, is a multi-role fighter capable of both air-to-air and air-to-ground operations and able to carry a range of bombs and missiles. The F-35 is capable of carrying missiles that can target and neutralize radar installations to degrade an adversary's situational awareness. The jets are noted as being in operational use beyond U.S. forces, including by the Israeli Air Force.


Context within defense procurement and market implications

This operation highlights a combination of high-end precision systems and low-cost massed munitions. The continued fielding of Tomahawks, investments in their modernization, and plans to scale production intersect with defense contractors, aerospace manufacturers, and systems integrators who work on guidance and munitions. Simultaneously, the adoption of inexpensive kamikaze drones underscores demand for affordable, high-volume weapons that can be produced by multiple suppliers.


Information gaps

The Pentagon provided imagery and general descriptions but specific operational details about the strikes, such as exact numbers of munitions expended or assessment of outcomes, were not included in the material released. Additionally, Spektreworks did not respond to requests for comment about the LUCAS system.

Risks

  • Uncertainty around production scaling: the Pentagon and Raytheon have plans to increase Tomahawk production substantially, which poses execution risk for defense manufacturers and supply chains.
  • Modernization and upgrade costs: ongoing spending to modify and upgrade Tomahawk guidance systems requires significant investment and presents budgetary and programmatic uncertainties for defense procurement.
  • Operational and supplier opacity: limited public detail on strike outcomes and the lack of comment from Spektreworks create information gaps that complicate assessments for defense market participants and analysts.

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