We are in uncharted territory in terms of private capital’s influence on the defense economy. At the same time, federal lawmakers struggle to advance 2027 legislation most likely to support autonomy, AI, c-UAS, industrial base expansion, critical minerals, and other sectors that are key markets for those same companies competing for private financing. The nation requires vision, clarity of opportunity and risk, problem definition, and deliberately investigated solutions – in that order – followed by on-time budgets. 

As the interests of warfighters, taxpayers, industry, and investors converge on the same goal - a dominant, cost-effective, adaptable, resilient American military – there is understandable widespread enthusiasm to leverage private capital interest in defense to accelerate the delivery of innovative technologies at lower cost, shift the financial risk for the development of such technologies from taxpayers to investors, and increase overall competition in the defense market. Now is also the time to anticipate potential fracture points and mitigate them through intelligent design.