Defense tech maintains record momentum heading into Q2, based on contract flow data from USASpending.gov and public filings. The DoD's sustained pivot toward non-traditional primes is the defining structural theme — Rocket Lab's $515M SDA award and Anduril's SHIELD expansion both confirm it. AST SpaceMobile's FCC approval for BlueBird Block 2 is the commercial catalyst to watch. The sector is re-rating toward AI-native defense platforms — Palantir's 65× NTM multiple is becoming the new reference point. Digest reflects data as of Mar 21, 2026.