Private capital is a potential force multiplier for the defense industrial base. Investment is at a record high and deal counts are climbing. Investors are placing big bets on new entrants that promise faster timelines, lower costs, and capability gains. At the same time, the US government has made acquisition reform and defense industry capacity top priorities over the past year. It feels like a turning point, but it is also a fragile one. If financial backers and the government don’t work to u...
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