Wars have always tested military strength. Increasingly, however, they are testing something less visible but equally decisive: industrial endurance. The latest phase of the US-Iran conflict has demonstrated that the real measure of military power is no longer how many sophisticated weapons a nation possesses today, but how quickly it can replace those it uses. For decades, the United States enjoyed an overwhelming technological advantage, investing heavily in precision-guided missiles, advanced air-defence systems and long-range strike capabilities.

These weapons transformed warfare by allowing Washington to project power with remarkable accuracy while limiting risks to its own forces. Yet they also created a new strategic dependency. Such systems are extraordinarily complex, expensive and time-consuming to manufacture. Once consumed in large numbers, they cannot simply be replenished by signing bigger cheques. The pause in hostilities with Iran has therefore highlighted a reality that extends far beyond West Asia. Even if America’s military remains stronger than any rival’s, prolonged operations have exposed the limits of its defence-industrial base. Production lines for........

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