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Defense
Drones, autonomy, and the hardware of deterrence
Defense spending is rotating from exquisite, decades-long platforms toward attritable, autonomous, software-defined systems — and drones sit at the center of that shift. Recent moves toward funding deals with American drone makers have put the sector squarely in focus.
We track the manufacturers, the autonomy and ISR stacks, and the component suppliers underneath them.
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28 companies
Axon Enterprise, Inc.AXON
Market cap$36B
Conviction5 / 5
Autonomous systems
Read profileGeneral Dynamics CorporationGD
Market cap$94B
Conviction5 / 5
Defense primes
Read profileLockheed Martin CorporationLMT
Market cap$122B
Conviction5 / 5
Defense primesHypersonics
Read profilePalantir Technologies Inc.PLTR
Market cap$375B
Conviction5 / 5
Battlefield AIVision models
Read profileRTX CorporationRTX
Market cap$242B
Conviction5 / 5
Defense primes
Read profileTransDigm Group IncorporatedTDG
Market cap$70B
Conviction5 / 5
Aerospace componentsDefense primes
Read profileBooz Allen Hamilton Holding CorporationBAH
Market cap$9.5B
Conviction4 / 5
Defense IT & services
Read profileLeonardo DRS, Inc.DRS
Market cap$13B
Conviction4 / 5
ISRDefense primes
Read profileHuntington Ingalls Industries, Inc.HII
Market cap$12B
Conviction4 / 5
Defense primes
Read profileKratos Defense & Security Solutions, Inc.KTOS
Market cap$12B
Conviction4 / 5
Drones & UASAutonomous systemsISR
Read profileLeidos Holdings, Inc.LDOS
Market cap$16B
Conviction4 / 5
Defense IT & servicesISR
Read profileL3Harris Technologies, Inc.LHX
Market cap$59B
Conviction4 / 5
Defense primesISR
Read profileNorthrop Grumman CorporationNOC
Market cap$80B
Conviction4 / 5
Defense primesAutonomous systems
Read profileRheinmetall AGRNMBY
Market cap—
Conviction4 / 5
Defense primes
Read profileTextron Inc.TXT
Market cap$16B
Conviction4 / 5
Defense primesAerospace components
Read profileAnduril Industries, Inc.Private
Market cap—
Conviction3 / 5
Autonomous systemsDrones & UASCounter-UAS
Read profileAeroVironment, Inc.AVAV
Market cap$10B
Conviction3 / 5
Drones & UASLoitering munitionsISR
Read profileEpirus, Inc.Private
Market cap—
Conviction3 / 5
Directed energyCounter-UAS
Read profileHelsingPrivate
Market cap—
Conviction3 / 5
Battlefield AIAutonomous systems
Read profileKarman Holdings Inc.KRMN
Market cap$7.6B
Conviction3 / 5
HypersonicsAerospace components
Read profileOndas Inc.ONDS
Market cap$6.7B
Conviction3 / 5
Drones & UASCounter-UASISR
Read profileRed Cat Holdings, Inc.RCAT
Market cap$2.2B
Conviction3 / 5
Drones & UASISR
Read profileSaronic Technologies, Inc.Private
Market cap—
Conviction3 / 5
Autonomous maritimeAutonomous systems
Read profileShield AI, Inc.Private
Market cap—
Conviction3 / 5
Battlefield AIAutonomous systemsDrones & UAS
Read profileSkydioPrivate
Market cap—
Conviction3 / 5
Drones & UASAutonomous systems
Read profileCastelionPrivate
Market cap—
Conviction2 / 5
Hypersonics
Read profileDraganfly Inc.DPRO
Market cap$273M
Conviction2 / 5
Drones & UASISR
Read profileUnusual Machines, Inc.UMAC
Market cap$1.5B
Conviction2 / 5
Drones & UAS
Read profile