Industry Overview
Defense manufacturing is one of the most metals-intensive industries, requiring specialized alloys and materials that create unique commodity dependencies. Fighter jets consume titanium for airframes and engine components, with the F-35 program alone representing significant titanium demand. Tungsten is critical for armor-piercing munitions and ballistic protection. Rare earth elements power precision-guided weapons, radar systems, and electronic warfare equipment -- with China controlling 60%+ of global rare earth processing, this creates a geopolitical supply vulnerability. The global defense rearming cycle, with NATO nations targeting 2-3% GDP defense spending, is creating sustained demand growth for these strategic metals.
Commodity Exposure
Key Companies
Related ETFs
ITA (iShares U.S. Aerospace & Defense ETF)
PPA (Invesco Aerospace & Defense ETF)