Operation Epic Fury commenced with over 100 Tomahawk missile strikes on the first night, triggering multiple waves of retaliatory attacks and costing the U.S. approximately $1 billion per day by day twelve of the conflict. The reported death of Iran’s Supreme Leader Ali Khamenei has escalated hostilities and heightened urgency for replenishing guided munitions and defense systems.

Iranian forces laid naval mines and effectively closed the Strait of Hormuz as of March 2, prompting Maersk, CMA CGM and MSC to suspend operations and insurers to withdraw coverage from all vessels by March 5. More than 200 ships remain stranded, driving global shipping costs to record highs and complicating defense supply chain throughput.

Lockheed Martin stands to gain from surging orders for guided munitions and advanced missile guidance systems, which depend on specialized rare earth alloys that Western producers have underbuilt. Ongoing bottlenecks in metallization and alloy processing are likely to increase the company’s procurement budgets and underscore the value of domestic materials capacity.