Lockheed’s investment in Venus Aerospace signals a clear shift in how primes pursue innovation. Next gen propulsion is moving faster through external partnerships, with startups driving the breakthroughs and primes scaling them. This trend will reshape supplier strategies in 2026.

Defense IPO momentum is real.
TKMS jumped 40% on debut, topping $4B valuation.
Investors are rediscovering defense as resilience, not risk.
(Sources: Reuters, WSJ, Oct 2025)