Defense & Aerospace Business Report

On this week’s Defense & Aerospace Report Business Roundtable, sponsored by Bell, Dr. “Rocket” Ron Epstein of Bank of America Securities, Sash Tusa of the independent equity research firm Agency Partners and Richard Aboulafia of the AeroDynamic advisory consultancy join host Vago Muradian to discuss more Wall Street turbulence as the US-Israel war on Iran drives up energy prices and a weaker than expected US employment figures and fourth quarter 2025 economic growth; oil prices edge higher despite releasing 400 million barrels from reserve stocks and US decision to life Russia energy sanctions for 30 days; impact of higher oil prices on air travel and commercial carriers; how more Russia energy revenue will impact Moscow’s war on Ukraine; Kyiv and European allies scramble for more air and missile defenses in midst of Iran war demands; Trump administration calls on allies to help to escort tankers through the Strait of Hormuz; White House’s so-called section 301 investigations into some 60 countries including

On this week’s Defense & Aerospace Report Washington Roundtable, sponsored by L3Harris, Dr. Patrick Cronin of the Hudson Institute think tank, Michael Herson of American Defense International, Cavas Ships podcast co-host Chris Servello, former DoD Europe chief Jim Townsend of the Center for a New American Security, and Pentagon comptroller Dr. Dov Zakheim of the Center for Strategic and International Studies join Defense & Aerospace Report Editor Vago Muradian to discuss prospects for a supplemental and reconciliation 2.0 spending packages as the US-Israel war on Iran spans into its third week; confusion about the nature of the mission after conflicting statements from senior administration officials; as energy prices soar in the wake of the war despite the release of an unprecedented 400 million barrels of oil from strategic reserves, Washington lifts sanction on Russian energy for 30-days; implications of lifting sanctions on Moscow as Russia continues its war on Ukraine; what it will take to ensure to norm

Operation Epic Fury continues targeting Iran, principally with airpower. Last week, we looked at the air campaign from the planner’s perspective. This week, we get the operator’s view from former Air Combat Command chief Gen. Mike “Mobile” Holmes. Plus the week’s headlines in airpower. Powered by GE!

On today’s Technology Report program, Dr. Jim Lewis of the Center for European Policy Analysis and Mark Montgomery of the Defense of Democracies and a Cyberspace Solarium Commission senior adviser join Defense & Aerospace Report Editor Vago Muradian to analyze the Trump administration’s new National Cyber Strategy; whether strategy weighted toward offensive operations will succeed; how the administration will execute an interagency approach to cybersecurity when cyber capabilities across government and law enforcement have been gutted; the implications of issuing a strategy that doesn’t name Russia and China that are America’s leading cyber threats; whether commercial cyber firms can fill the gap in diminished government cyber capacity; takeaways from the Pentagon’s feud with Anthropic; and an update on CMMC.

On today’s Strategy Series program, sponsored by General Atomic Aeronautical Systems, Dr. Eugene Rumer, the director of the Russia and Eurasia program at the Carnegie Endowment for International Peace, joins Defense & Aerospace Report Editor Vago Muradian to discuss the implications of the US-Israel war on Iran on Moscow; how Washington should respond to Moscow’s sharing of intelligence to help Tehran strike US forces and allies in the region; update on Russia’s war on Ukraine as Kyiv works with allies and partners to develop capabilities to better defend itself; the message lifting of US energy sanctions on Russia would send and how such a move would improve Moscow’s financial prospects; Ukraine’s pledge to help Washington and allies better defend themselves against attack drones like Iran’s Shahed; whether US operations worldwide including in Venezuela and Iran bolster Washington’s hand in negotiating with Moscow; Lithuania’s assessment that Russia is increasing forces on NATO’s borders; and Russia’s effort

On today’s Look Ahead program, sponsored by HII, Byron Callan of the independent Washington research firm Capital Alpha Partners joins Defense & Aerospace Report Editor Vago Muradian to discuss the second week of the US-Israel war on Iran and what to expect as President Trump demands unconditional surrender and hints at the use of ground troops; implications of a protracted closure of the Strait of Hormuz that’s already driven oil prices past $100 per barrel for the first time since the post-covid surge of 2022; whether US industry is going to be able to quadruple production of exquisite weapons that President Trump demanded during a White House meeting on Friday with US defense executives; industry frustration that the administration didn’t move more quickly to accelerate weapons orders; US budget outlook as the administration prepares its 2026 budget and a reported $50 billion supplemental request to cover war costs; and a look ahead to the big events of the coming in Washington and beyond.

On this week’s Defense & Aerospace Report Business Roundtable, sponsored by Bell, Dr. “Rocket” Ron Epstein of Bank of America Securities, Sash Tusa of the independent equity research firm Agency Partners and Richard Aboulafia of the AeroDynamic advisory consultancy join host Vago Muradian to discuss another down week on Wall Street on an unexpectedly low employment figures combined with the ongoing US-Israel war on Iran; expectations the Trump administration will ask Congress for $50 billion in supplemental funding to cover the cost of a conflict; a 35 percent jump in energy prices as Washington considers letting Russia resume oil sales; Ukraine’s offer to counter Iranian air attacks; resilience of the global commercial air transport system as regional air traffic has been derailed and energy prices soar; President Trump convenes US defense executives at an emergency meeting at the White House on Friday to “quadruple” production of “exquisite” weapons; whether the supply chain can support can surge defense pr

On this week’s Defense & Aerospace Report Washington Roundtable, Dr. Patrick Cronin of the Hudson Institute think tank, Michael Herson of American Defense International, former DoD Europe chief Jim Townsend of the Center for a New American Security, and Pentagon comptroller Dr. Dov Zakheim of the Center for Strategic and International Studies join Defense & Aerospace Report Editor Vago Muradian to discuss the US-Israel war on Iran and the Trump administration’s supplemental funding request to cover mounting operations costs as well as growing weapons needs as the stocks of precision air defense and strike weapons diminishes in the wake of campaigns over the past year; the administration’s shifting goals for the Iran war from the president’s call for regime change — and now unconditional surrender — to Defense Secretary Pete Hegseth’s goal of destroying Tehran’s military and nuclear capabilities; analysis of the administration and its alies’ stance that the Venezuela and Iran operations are about pressuring Ch

Airpower is in action, with the U.S./Israeli Operation Epic Fury targeting Iran, and many countries defending themselves from Iranian retaliation. The architect of the Desert Storm air campaign, retired Lieutenant General David Deptula, joins us to look at the operation so far, how long it will last, how to put together an air campaign, friendly fire, and much more. Plus headlines. All powered by GE!

Richard Aboulafia and Dr. Kevin Michaels of the AeroDynamic Advisory consultancy join Defense & Aerospace Report Editor Vago Muradian to discuss the economic impacts of the Iran war and their new book on the history of business aviation, “Time Machines: Business Aviation’s Dynamic Journey.”:

Dr. “Rocket” Ron Epstein of Bank of America Securities joins Defense & Aerospace Report Editor Vago Muradian on the sidelines of the commercial edition of Joanna Speed’s Aerospace Event in Los Angeles to discuss the market impacts of the US-Israel war on Iran, the limits of surging production of complex weapons, role of new entrants to deliver capability more quickly like the Low-Cost ‌Uncrewed Combat Attack Syste by Arizona startup SpektreWorks, and outlook for defense spending including the resumption of supplemental funding to cover the growing costs of operations worldwide over the past year; and John Cofrancesco of American AI Logistics discusses the Trump administration’s decision to blacklist Anthropic, the implications for industry, and how to craft an AI strategy to delivers breakthrough capabilities in line with the nation’s values.

On today’s Look Ahead program, sponsored by HII, Byron Callan of the independent Washington research firm Capital Alpha Partners and former Pentagon comptroller Dr. Dov Zakheim of the Center for Strategic and International Studies join Defense & Aerospace Report Editor Vago Muradian to discuss US-Israel military operations against Iran, Tehran’s attacks on nations across the region, and possible scenarios as Washington says operations will continue for weeks even as America’s allies recommend off ramps; impact of a protracted campaign on depleting US attack and defensive weaponry as well as wear and tear on aging equipment and personnel exhausted after back-to-back military operations over the past; what regime change in Tehran would mean for regional security and defense investment given Iran’s role as regional provocateur; key themes from L3Harris Technology’s investor day; takeaways from the International Institute for Strategic Studies’ latest Military Balance; and a look ahead to the big events of the co

On this week’s Defense & Aerospace Report Business Roundtable, sponsored by Bell, Dr. “Rocket” Ron Epstein of Bank of America Securities, Sash Tusa of the independent equity research firm Agency Partners and Richard Aboulafia of the AeroDynamic advisory consultancy join host Vago Muradian to discuss Wall Street’s worst day of 2026 on AI worries and lower than expected new US jobs creation; Israel and the United States attack Iran, killing the country’s top leaders as Tehran retaliates against Israel, Bahrain, Jordan, Kuwait, Oman, Qatar, Saudi Arabia and the UAE; worries that a prolonged conflict will take a toll on already depleted US weapons stocks, aging weapons and personnel; the conflict sends energy prices soaring; the Trump administration’s blacklisting of Anthropic from doing business with the US government and threat to seize its technology after the company expresses concerns over the use of it’s Claude model for autonomous weapons and mass surveillance as OpenAI strikes a deal with the Pentagon; th

On this week’s Defense & Aerospace Report Washington Roundtable, Dr. Patrick Cronin of the Hudson Institute think tank, Michael Herson of American Defense International, former DoD Europe chief Jim Townsend of the Center for a New American Security, and Pentagon comptroller Dr. Dov Zakheim of the Center for Strategic and International Studies join Defense & Aerospace Report Editor Vago Muradian to discuss President Trump’s new tariffs after the Supreme Court’s ruling last week and Republican efforts to adopt new tariff legislation; takeaways from the president’s longest ever state of the union address; efforts to restore full Department of Homeland Security funding and update on Reconciliation 2.0; whether the president will get the $1.5 trillion defense budget he wants for 2027 as consensus settles on a more modest boost of around $1.1 trillion to $1.2 trillion; US-Iran talks continue in Geneva as Washington masses more forces in the region and prepares to evacuate US personnel from Israel to press Tehran in

We attended the Air and Space Forces Association Warfare Symposium so you didn’t have to. General Atomics Aeronautical Systems president Dave Alexander gives us the latest on a slew of programs. We review the event and Air and Space Forces magazine editor Tobias Naegele and Mitchell Institute Dean David Deptula add their views. Plus a headline or two. All powered by GE!

Mesh Feigenbaum, a managing partner at Engineered Metal Tech who is one of the world’s leading experts on the gigantic forging presses that are critical for the worldwide aerospace and defense supply chain, joins Defense & Aerospace Report Editor Vago Muradian to discuss an updated version of his 2018 benchmark study of global industrial capacity that rings alarm bells for major commercial and military programs; the importance of forging facilities; the problematic nature of depending on gigantic pieces of equipment that are aging and when they fail are out of action for years, derailing supply chains; China’s strategic approach of investing in sovereign capacity and capability; why the business is so challenging commercially one without government support; and the investment necessary for the United States to revitalize a critical industry.

On today’s Strategy Series program, sponsored by General Atomics Aeronautical Systems, Sam Bendett of the Center for Naval Analyses and Dr. Eugene Rumer, the director of the Russia and Eurasia program at the Carnegie Endowment for International Peace, join Defense & Aerospace Report Editor Vago Muradian to discuss an assessment of Russia’s war Ukraine as the conflict enters its fifth year; update on the fighting and impact of SpaceX’s decision to suspend Russian access to StarLink data; whether Vladimir Putin as more vulnerable as the war takes its toll on Russia’s finances and economy; what will convince Moscow to back off its maximalist demands; key transformations in warfighting over the past four years as both sides have struggled to gain advantage; prospect an economic deal with Moscow that would see US industry rebuild Russia would convince Russian leaders to turn away from Beijing; whether it’s reasonable to expect Ukraine to hold elections in May as demanded by President Trump; and what to expect in y

On today’s Look Ahead program, sponsored by HII, Byron Callan of the independent Washington research firm Capital Alpha Partners joins Defense & Aerospace Report Editor Vago Muradian to discuss defense industrial implications of the Supreme Court’s rulings against most of President Trump’s tariffs and his reaction to impose an additional 15 percent tariff across the board; prospect the administration will retaliate against European nations that shift rapidly increasing spending away from US weapons in favor of domestic ones; Canada’s new defense strategy; consequences of a possible Iran attack and Britain’s decision to deny US forces use of bases in UK and Diego Garcia; analysis of Russia’s war on Ukraine as the conflict enters its fifth year; a changing competitive US defense industrial landscape; and a look at the week ahead.

On this week’s Defense & Aerospace Report Business Roundtable, sponsored by Bell, Dr. “Rocket” Ron Epstein of Bank of America Securities, Sash Tusa of the independent equity research firm Agency Partners and Richard Aboulafia of the AeroDynamic advisory consultancy join host Vago Muradian to discuss an up week on Wall Street on the Supreme Court’s decision that some of President Trump’s tariffs under the International Emergency Economic Powers Act were illegal; what’s next for nearly $200 billion in tariff revenue collected over the past year as the president imposes new tariffs under other legislation; US threat of retaliation if Europe shifts away from buying American systems in favor of domestic weaponry; India’s Rafale order including 31 naval variants of the Dassault fighter; Canada’s new National Defense Strategy; Northrop Grumman partnership with Embraer to help market the KC-390 tanker-transport in the United States; impact on Leonardo’s C-27 production line after Saudi Arabia’s ordered for four of th

On this week’s Defense & Aerospace Report Washington Roundtable, Dr. Patrick Cronin of the Hudson Institute think tank, former DoD Europe chief Jim Townsend of the Center for a New American Security, and Pentagon comptroller Dr. Dov Zakheim of the Center for Strategic and International Studies join Defense & Aerospace Report Editor Vago Muradian to discuss the Supreme Court’s ruling against the Trump administration’s use of the International Emergency Economic Powers Act to justify tariffs; outlook for ending the Ukraine war as Washingon increases pressure on Kyiv as Russia touts $14 trillion in business for America; in advance of his trip to Beijing, President Trump said he’s talking Xi Jinping about US arms sales to Taiwan; the confirmation by a US official that China appears to have conducted an unground nuclear test in 2020; Japan and South Korea make good on their promises to invest in the United States in exchange for lower tariff rates; Washington’s efforts to improve relations with India and make new