US air defense stockpiles depleted by Iran conflict
Analysis based on 9 articles · First reported Jul 28, 2026 · Last updated Jul 28, 2026
Defense contractors like Raytheon (Patriot) and Lockheed Martin (THAAD) may see increased demand for replenishment orders, boosting revenues. However, the depletion highlights potential vulnerabilities in U.S. defense readiness, which could weigh on sentiment for defense stocks if prolonged.
A new analysis from the Center for Strategic and International Studies (CSIS) reveals that recent fighting with Iran has significantly depleted U.S. stockpiles of advanced missile interceptors, including Patriot and THAAD systems. The report estimates Patriot interceptor inventories have fallen by at least 65% since before the conflict, from 2,330 to between 759 and 827. THAAD interceptors are down at least 38%, from 452 to between 234 and 278. The depletion may force U.S. forces to conserve missiles by firing fewer interceptors per incoming threat, increasing the risk of successful Iranian strikes. The war, launched by President Donald Trump alongside Israel on February 28 without congressional approval, has cost an estimated $37.5 billion. The Pentagon is requesting $67 billion for replenishment. The conflict has also raised concerns about diminished U.S. firepower in a potential future conflict with China. The analysis was co-authored by Mark Cancian and Chris Park.
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