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1. Executive Summary
2. The “Great Rearmament”: Geopolitical Drivers & Fiscal Floors

3. The Tech Pivot: From Iron to Intelligence

4. M&A and Capital Flows: Consolidation, Control, and Capability Capture

5. The Industrial Base Reset: Solving the Capacity and Resilience Gap

6. Key Players

― Northrop Grumman Corp

― AeroVironment, Inc.

― RTX Corp

― Astronics Corp

― Axon Enterprise Inc

― General Dynamics Corp

7. Risks and Counter-Thesis: Where the Narrative Can Break

8. Company Reports

― Northrop Grumman Corp

― AeroVironment, Inc.

― RTX Corp

― Astronics Corp

― Axon Enterprise Inc

― General Dynamics Corp

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