Anduril

Anduril Industries is an American defense technology company founded in 2017 by Palmer Luckey, Trae Stephens, Matt Grimm, Joe Chen and Brian Schimpf, and headquartered in Costa Mesa, California. It builds autonomous systems together with the software that ties them together. At the centre sits Lattice, an AI-powered command-and-control platform that fuses data from many sensors and vendors and serves as the backbone of counter-drone programs across the U.S. military. Around it Anduril has built the solar-powered Sentry surveillance tower, the Ghost and Bolt small drones, the Anvil and Roadrunner interceptors, the Barracuda cruise missile family, the Fury autonomous fighter, and the Ghost Shark extra-large autonomous undersea vehicle.

The company sells to governments rather than to consumers, and its revenue comes from counter-drone systems delivered with embedded Anduril field teams, production of drones, interceptors and missiles, and international military sales to customers including Australia, Japan, Taiwan, the United Kingdom and South Korea. Unlike the incumbent primes, Anduril invests in, builds and sells its own products; Fortune reported in May 2026 that it can deliver in two years systems that would have taken the primes five, in part because each prime relies on a maze of subcontractors, regulations and government infrastructure. Schimpf is equally direct about the risk, telling Fortune the company has “outrageously concentrated business.”

Anduril has moved from challenger to incumbent on several programs. In June 2026 the U.S. Air Force selected its YFQ-44A alongside General Atomics’ YFQ-42A for initial production under the Collaborative Combat Aircraft program, with an initial target of 100 to 150 aircraft. It took over the Army’s IVAS augmented-reality headset effort from Microsoft in February 2025 and won a $159 million prototyping contract in September 2025 under the successor Soldier Borne Mission Command program, working with Meta on the wearables. Fortune reported in May 2026 that the Army had awarded the company a contract worth up to $20 billion over ten years. Abroad, the Royal Australian Navy awarded a A$1.7 billion Ghost Shark program of record in September 2025, and Poland’s PGZ agreed in July 2026 to build the Barracuda-500M cruise missile at Bydgoszcz.

Revenue reached $2.2 billion in 2025, and Schimpf has guided to $4.3 billion for 2026; headcount passed 8,000 after roughly doubling annually in recent years. Arsenal-1, the company’s $910.5 million, five-million-square-foot campus in Pickaway County, Ohio, began building Fury in March 2026 three months ahead of schedule and rolled out the first Ohio-built aircraft on 27 July 2026. Capital has followed: a $5 billion Series H in May 2026 valued the company at $61 billion, and by July 2026 Anduril was reported to be in talks for a further round at about $100 billion. Schimpf has also been candid that the company is not yet profitable, since factories and test sites cost heavily before they generate revenue.