Israel's airstrikes against Iran and Lebanon have Wall Street investors anxious over the risk these escalations could have on global markets if they continue for too long, as not only US stocks (^DJI, ^IXIC, ^GSPC) are seeing losses in Tuesday's session, but the defense industry as well. Gabelli Funds portfolio manager Tony Bancroft comes on Market Catalysts to discuss the defense manufacturer's inventory-production dynamic as Middle East conflicts ramp up and how he is forecasting increased capex spending for these contractors. Bancroft manages the Gabelli Commercial Aerospace and Defense ETF (GCAD). To watch more expert insights and analysis on the latest market action, check out more Market Catalysts.