Defense executives from around the country crowded into Goldman Sachs' glimmering tower in downtown Manhattan in mid-May, eager to present before a conference of bankers and financial analysts. While much of the world was on edge over simmering tension in the Middle East, as the U.S. and its allies have stoked tensions with Iran, the businessmen at the conference talked of opportunity. Eric DeMarco, the president of Kratos Defense & Security Solutions, addressed the conference, arguing that his company is very well-aligned" for the shift in the military budget away from asymmetrical fighting toward nation-state warfare. The rising threat of war with Iran, Russia, and China, DeMarco continued, could threaten U.S. naval power, which could require ballistic missile threat upgrades, the type of systems Kratos Defense specializes in. Large arms manufacturers from across the industry have similarly told investors that escalating conflict with Iran could be good for business. The statements to investors come as the U.S. has openly threatened to launch a new war. In recent weeks, the Trump administration discussed sending 120,000 soldiers to the Middle East in preparation for war with Iran, a move that comes after two years of increasing sanctions and militant rhetoric about the threat posed by the government in Tehran. The escalating tensions, while raising the potential for catastrophic conflict and loss of human life, could also be good for companies in the business of war.