DEFENSE GIANTS POST RECORD BACKLOGS AS IRAN WAR DRAINS AMERICA MISSILE STOCKPILES

What happened: RTX and Northrop Grumman reported record order backlogs Tuesday, with RTX securing nearly $23 billion in Tomahawk cruise missile contracts as the Pentagon faces costs to replace weapons used in the war with Iran. Key numbers: RTX backlog $340 billion, including $164 billion defense. Why it matters: CSIS estimated Patriot inventories fell below 1,000 interceptors and THAAD stood at about 250, and researchers warned depleted stockpiles could threaten readiness in a potential confrontation with China. CBO estimated rebuilding inventories would likely take at least five years.

RTX and Northrop Grumman reported record order backlogs Tuesday, with RTX securing nearly $23 billion in Tomahawk cruise missile contracts as the Pentagon faces costs to replace weapons used in the war with Iran.

CSIS estimated Patriot inventories fell below 1,000 interceptors and THAAD stood at about 250, and researchers warned depleted stockpiles could threaten readiness in a potential confrontation with China. CBO estimated rebuilding inventories would likely take at least five years.