I think if you look back from where we are, the links are obvious. Looking forward from back then, not so much. When did defense fundamentally change? After WWII. I agree we needed a permanent defense establishment, but the only way for such an establishment to make profits is to make arms. When you increase the demand for arms, profits go up. The best way to maintain a consistently high profit level, you must have a need for more and newer armaments. When there is a war, there is a need.
I wish Ike had shown his concern at the beginning of his administration, instead of the end. He may have been able to come up with a way to balance the needs of the industry with peace, rather than perpetual war.