AhlulBayt News Agency: The Donald Trump administration plans to meet with executives from the biggest US defense contractors at the White House on Friday to discuss accelerating weapons production, as the Pentagon works to replenish supplies after attacks on Iran and several other recent military efforts, five people familiar with the plan told Reuters.
Companies including Lockheed Martin (LMT.N) and Raytheon parent RTX (RTX.N) along with other key suppliers, have been invited to attend the meeting, the people said, speaking on condition of anonymity because the discussions are private.
The meeting stresses the urgency felt in Washington to shore up weapons stocks after the Iran operation drew heavily on munitions. Since Russia attacked Ukraine in 2022 and Israel began military operations in the Gaza Strip, the US has drawn down billions of dollars' worth of weapons stockpiles, including artillery systems, ammunition and anti-tank missiles.
The war against Tehran has consumed longer-range missiles than those furnished to Kyiv.At least one of the people stated that the gathering was expected to center on pressing weapons makers to move faster to boost output.
The White House meeting comes as Deputy Defense Secretary Steve Feinberg has been leading Pentagon work in recent days on a supplemental budget request of around $50 billion that could be released as soon as Friday, one of the people added. The new money would pay for replacing the weapons used in recent conflicts including those in the Middle East. The figure is preliminary and could change.
The push to boost production has intensified following US military strikes on Iran, where Washington deployed Tomahawk cruise missiles, F-35 stealth fighters and low-cost one-way attack drones on Saturday.The administration has been steadily ratcheting up pressure on defense contractors to prioritize production over shareholder payouts.
President Donald Trump signed an executive order in January to identify contractors deemed to be underperforming on contracts while distributing profits to shareholders.
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