The Pentagon’s hypersonic push is trading speed for scalability—and the winners may not be who you think.
Anduril’s YFQ-44A Rolls Off the Line: The Drone Moat Just Became a Production Reality
Anduril’s Fury Hits the Tarmac: The Drone Moat Just Turned From Prototype to Production Line
Anduril’s Fury Rolls Off the Line: The Drone Moat Moves from Prototype to Production at Scale
Anduril’s Fury Takes Flight in Ohio: The Drone Moat Moves from Prototype to Production
Saronic builds autonomous surface and undersea vessels for distributed maritime warfare and ISR using AI and low-cost manufacturing.
Shield AI develops autonomous AI pilots (Hivemind) for drones and fighter jets, enabling GPS- and communications-denied operations.
Chaos Industries builds networked radar and sensing systems for airspace defense — its Coherent Distributed Networks (CDN) tie together many low-cost nodes to detect drones, missiles, and aircraft far earlier than legacy radar. It raised a $510M Series D in November 2025 at a reported $4.5B valuation.
True Anomaly develops autonomous spacecraft for space domain awareness, orbital pursuit, and defense against hostile satellites.
Mach Industries manufactures hydrogen-based defense products including munitions, fuel, and propulsion using renewable energy and advanced manufacturing.
Hermeus is developing Mach 5+ hypersonic aircraft for defense and commercial applications using turbine-based combined cycle engines.
Apex Space manufactures satellite buses at scale for commercial and defense customers, enabling rapid on-orbit deployment.
Skydio designs and manufactures autonomous drones with computer vision and AI for defense, public safety, and enterprise inspection.
Shift5 provides cybersecurity and data analytics for operational technology (OT) in military aircraft, ships, and ground vehicles.
Ursa Major designs and manufactures rocket engines and hypersonic propulsion systems for defense, commercial space, and missile applications.
Picogrid builds edge computing and networking software for tactical military operations, enabling data processing in denied and disconnected environments.
SpaceX manufactures rockets and satellites, operates the Starlink constellation, and provides launch services for government and defense missions.
Anduril builds autonomous systems, AI-powered defense platforms, and software infrastructure including Lattice OS for military and border security applications.
Applied Intuition provides simulation, autonomy, and ADAS software tooling for automotive OEMs and increasingly defense autonomy programs.
Helsing builds AI-driven software for defense decision-making, sensor fusion, and autonomous systems for European and NATO militaries.
Flock Safety deploys AI-powered cameras and license plate readers for public safety, with applications in critical infrastructure and base security.
Hadrian automates precision manufacturing for aerospace and defense components using software-controlled machine shops and AI-driven workflows.
Archer Aviation manufactures electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility and defense logistics.
Rebellion Defense delivers AI-powered software for military intelligence, targeting, and decision support in multi-domain operations.
Palantir delivers data integration and AI decision-making platforms for defense, intelligence, and government operations through Gotham and Apollo software.
Vannevar Labs builds AI-powered data integration and search tools for intelligence analysts and defense operators across classified networks.
Epirus develops high-power microwave (HPM) directed energy weapons for drone defense and electronic warfare using solid-state, software-defined RF systems.
Castelion manufactures defense products at scale using advanced manufacturing, focusing on munitions, propulsion, and attritable systems.
Red 6 creates augmented reality training systems for fighter pilots, projecting synthetic threats into real-world flight using AR headsets.
Varda Space builds reentry capsules for in-space manufacturing and returning payloads from orbit to Earth.
Orca AI develops AI-powered navigation and collision avoidance systems for commercial and defense maritime vessels.
Regent designs and builds electric seagliders—wing-in-ground-effect vehicles—for coastal transportation and defense logistics.
Slingshot Aerospace provides space domain awareness, satellite tracking, and data analytics software for government and commercial space operators.
Firestorm Labs builds autonomous loitering munitions and drone swarms for attritable, mass-production warfare.
Allen Control Systems develops kinetic and non-kinetic counter-drone systems for base defense and critical infrastructure protection.
Benchmark Space Systems develops satellite propulsion systems and mobility services for in-space maneuvering and orbital operations.
AeroVironment manufactures small tactical drones (Switchblade, Puma, Raven) and loitering munitions for reconnaissance and precision strike.
L3Harris provides advanced communications, electronic warfare, ISR, and space systems for defense and intelligence customers globally.
RTX (formerly Raytheon Technologies) produces missiles, radar systems, jet engines, and integrated defense technologies through Raytheon and Pratt & Whitney divisions.
Leidos delivers systems integration, cybersecurity, and IT services for defense, intelligence, and homeland security customers.
BAE Systems designs and manufactures military aircraft, naval ships, armored vehicles, and electronic warfare systems for NATO and allied forces.
General Dynamics manufactures combat vehicles, submarines, business jets, and mission-critical IT systems across land, sea, and cyber domains.
Kratos develops unmanned aerial systems, satellite communications, and microwave electronics, including the XQ-58 Valkyrie loyal wingman drone.
Lockheed Martin is the world's largest defense contractor, producing the F-35 fighter, missile systems, satellites, and integrated defense platforms.
Northrop Grumman builds advanced aircraft (B-21 stealth bomber), space systems, autonomous platforms, and cyber capabilities for global defense.
Venture capital deployed · 2026 YTD
Sector market cap
Largest raise · trailing 12mo
Catalysts ahead · next 12mo
Senior talent moves · 18mo
Open frontier bottlenecks
Companies tracked
Sikorsky pitches the S-97 Raider to NATO's rotorcraft program after the US Army canceled its Future Attack Reconnaissance Aircraft effort.
Nothing on the calendar yet.
Mega-rounds ($250M+) dominate recent activity. 2025–2026 saw Anduril ($2.5B), Saronic ($1.8B), Shield AI ($1.5B), True Anomaly ($650M), and Applied Intuition ($600M). Median round size has climbed steeply; early-stage funding ($30–75M) shrunk to marginal share. Seed and Series A activity nearly disappeared in past 18 months.
Capital concentrating heavily in Series D and beyond. Series F, G rounds became routine in 2025–2026 (Anduril, Shield AI, Applied Intuition, Skydio). Series A–C rounds represent under 15% of total capital deployed since 2025. Valuation jumps suggest venture capital front-loading risk into proven platforms rather than backing new entrants.
Founders Fund, Lux Capital, and Accel emerged as persistent multi-round backers across seed-to-growth. Khosla Ventures, Andreessen Horowitz, and General Catalyst remain active but tilted toward growth rounds. Institutional capital (BlackRock, L3Harris, Hanwha, Advent) entered late-stage rounds in 2025–2026. Few traditional VC firms show sustained early-stage presence.