E65 – Breaking the Propulsion Duopoly

America’s solid rocket motor industry consolidated from six manufacturers to two. Firehawk wants to be number three.Mike sits down with Will Edwards, Co-Founder and CEO of Firehawk, to talk about breaking a thirty-year propulsion duopoly.Founded in 2019, Firehawk replaced the traditional cast-and-cure process with a continuous thermoplastic platform, cutting propellant production from 60 days to six hours. The company just closed a $150M+ Series D to scale two major facilities in Oklahoma and Mississippi.Will’s take is simple. Defense is a component space business. The companies that win are the ones that plug into the ecosystem.Topics include:• The solid rocket motor duopoly• Thermoplastic vs. cast-and-cure propellant manufacturing• 60 days down to six hours• General Dynamics Ordnance and Tactical Systems partnership• Great Plains Arsenal and the Mississippi integration campus• The $150M+ Series D• Defense as a component space businessSUBSCRIBE FOR FREE to get more intel on defense tech, news, and happenings!Links • Sign up for the newsletter! https://www.themerge.co/• Support us on Patreon! https://www.patreon.com/the_merge• Firehawk homepage https://www.firehawkdefense.com/• Will LinkedIn https://www.linkedin.com/in/will-edwards/Follow us on…• LinkedIn https://www.linkedin.com/company/themerge• Instagram https://www.instagram.com/merge_newsletter/• X https://x.com/MergeNewsletter• Facebook https://www.facebook.com/themergenewsChapters00:0000:46 intro01:53 the origin story02:50 the duopoly03:39 hybrid rocket roots04:43 pivot to solid propellant05:26 the three co-founders07:04 Forbes 30 Under 3008:45 cakes and cupcakes09:56 the Krispy Kreme donut machine11:22 safety at small batch sizes12:13 60 days to six hours13:18 diameter ranges and limits15:02 defense is a component business17:01 primes are not the enemy18:39 qualification and certification20:11 General Dynamics partnership21:45 base bleed motors explained22:48 growth and fundraising24:34 three states, two arsenals27:36 why it’s called Firehawk28:37 goals for 202730:27 final thoughts31:32 outro#defensetech #podcast #military #rockets #propulsion #solidrocketmotor #defenseindustrial #manufacturing #artillery #nationalsecurity #aerospace #startups #venturecapital #sponsored• Website https://www.themerge.co/

The Pentagon wants thousands of autonomous systems. The question is who builds them and how fast.Joey Arora sits down with Paul Lwin, Co-Founder and CEO of Havoc, to talk about collaborative autonomy and why the path to mass runs through software, not shipyards.Havoc builds autonomy software that turns commercial platforms into autonomous systems across sea, air, and land. Founded in January 2024, the company has integrated on more than 200 vessels without owning a single shipyard.Paul's take is direct. Don't reinvent the boat. Partner with the people who already build thousands of them.Topics include:• Collaborative autonomy and human-on-the-loop control• Software-defined hardware and the 90/10 split• The CSBC Taiwan partnership and in-country production• Operating without persistent comms• Two acquisitions before the company's third birthday• The Rhode Island maritime innovation cluster• Moving from prototype to production contractsSUBSCRIBE FOR FREE to get more intel on defense tech, news, and happenings!Links• Sign up for the newsletter! https://www.themerge.co/• Support us on Patreon! https://www.patreon.com/the_merge• Havoc homepage https://www.havocai.com/• Paul LinkedIn https://www.linkedin.com/in/paul-lwin/Follow us on...• LinkedIn https://www.linkedin.com/company/themerge• Instagram https://www.instagram.com/merge_newsletter/• X https://x.com/MergeNewsletter• Facebook https://www.facebook.com/themergenews• Website https://www.themerge.co/

It started with an email to 300 fighter pilots. Joey Arora turns the tables on Mike "Pako" Benitez to get the full origin story of The Merge. Mike spent 25 years on active duty between the Marine Corps and Air Force, flew the F-15E Strike Eagle, and graduated from the Air Force Weapons School. During COVID in 2020, he saw the defense world had nothing like the newsletters the startup world lived on. So he built one. Six years later, The Merge runs three days a week, with a premium tier and a podcast. Topics include:• Writing op-eds on active duty• Marine Corps enlisted to Air Force weapons systems officer• The first newsletter in November 2020• How Save Rounds and On the Radar were born• The three audiences Mike writes for• Merge Premium and the Thursday deep dive• From newsletter survey to podcast SUBSCRIBE FOR FREE to get more intel on defense tech, news, and happenings! LinksSign up for the newsletter! https://www.themerge.co/Support us on Patreon! https://www.patreon.com/the_mergeMike LinkedIn https://www.linkedin.com/in/mike-benitez/Joey LinkedIn https://www.linkedin.com/in/joeyarora/  Follow us on...LinkedIn https://www.linkedin.com/company/themergeInstagram https://www.instagram.com/merge_newsletter/X https://x.com/MergeNewsletterFacebook https://www.facebook.com/themergenewsWebsite https://www.themerge.co/ Chapters00:39 intro01:37 getting into writing02:45 a newsletter for defense03:26 the first email04:12 fun as the driver04:48 how "on the radar" started05:37 Mike's military career06:21 Marine Corps to Strike Eagle07:26 why it's called The Merge08:35 editorial philosophy09:33 the birth of Save Rounds10:04 the three audiences12:23 Merge Premium14:51 the sixth anniversary15:27 why the podcast exists16:45 what's next17:32 outro #defensetech #podcast #military #newsletter #originstory #airforce #marinecorps #nationalsecurity #defenseindustry #f15e #strikeeagle #veteranfounders #militarytechnology

Buying a fighter jet is the cheap part.Mike sits down with Jim Becker, President and CEO of Perfect Point EDM, to talk about the biggest line in any defense program: keeping the fleet flying.Perfect Point builds the E-Drill, which uses electro discharge machining (EDM) to pull aircraft fasteners. Founded in 2005, it turned a lab curiosity into a fielded tool that removes a rivet in about 30 seconds instead of 10 minutes, with no debris and almost no rework.Jim's take is blunt. The aircraft modernized, the maintenance tooling did not, and the industry keeps papering over it by leaning on a shrinking pool of skilled mechanics.Topics include:Operations and maintenance as the biggest cost in a programElectro discharge machining applied to fastener removalCutting a 10 minute rivet job down to 30 secondsEliminating foreign object debris and rework on titanium airframesWhy maintenance tooling never modernizedWinning over risk-averse engineers with the material science caseThe shrinking pool of skilled aircraft mechanicsSUBSCRIBE FOR FREE to get more intel on defense tech, news, and happenings!LinksSign up for the newsletter! https://www.themerge.co/Support us on Patreon! https://www.patreon.com/the_mergePerfect Point EDM homepage https://www.ppedm.com/Perfect Point EDM LinkedIn https://www.linkedin.com/company/perfect-point-edm/Jim LinkedIn https://www.linkedin.com/in/jim-becker-48449790/Follow us on...LinkedIn https://www.linkedin.com/company/themergeInstagram https://www.instagram.com/merge_newsletter/X https://x.com/MergeNewsletterFacebook https://www.facebook.com/themergenewsWebsite https://www.themerge.co/Chapters00:0000:28 intro02:06 the MRO space02:53 the founding story04:38 from the Marine Corps to Boeing06:10 framing the rivet problem07:01 tooling stuck in the 60s07:43 titanium and steel fasteners08:54 no FOD, no mess09:46 the three step process10:27 four to five times faster10:49 killing the rework11:52 problems everybody just accepts13:49 the miracle-worker culture14:55 the aging workforce16:49 winning over the engineers17:32 the launch that fell flat20:21 SBIRs and the valley of death21:39 fall in love with the problem22:09 conventional wisdom that's wrong24:47 making do with less26:03 go talk to the mechanics28:29 the stance he'll defend30:12 where to learn more31:03 outro

Test is where new military hardware goes to wait.Mike sits down with Jenn Wilson, Head of Federal at Nominal, to talk about test and evaluation, the least glamorous gate between a program and the warfighter.Nominal builds test data infrastructure for hardware. Founded in 2022 by Anduril, Palantir, and Lockheed Martin alumni, it reached a $1 billion valuation in March.Jenn’s take is that acceleration comes from optimizing what you test for. Cutting test points is the wrong lever.Topics include:Test and evaluation as a mission enablerHigh rate, multimodal test dataReal-time telemetry and closing the test loopDARPA CIPHER Forge and digital twinsClosing the sim to real gapThe F-35 crowdsourced flight data programKnowledge parity between primes and government testersLinksSign up for the newsletter! https://www.themerge.co/Support us on Patreon! https://www.patreon.com/the_mergeNominal homepage https://nominal.io/Nominal careers https://nominal.io/careersNominal LinkedIn https://www.linkedin.com/company/nominal-inc/Jenn LinkedIn https://www.linkedin.com/in/jennifer-t-wilsonFollow us on...LinkedIn https://www.linkedin.com/company/themergeInstagram https://www.instagram.com/merge_newsletter/X https://x.com/MergeNewsletterFacebook https://www.facebook.com/themergenewsWebsite https://www.themerge.co/Chapters: 00:0000:32 intro01:47 why this, why now02:32 test is not sexy03:47 test as an afterthought05:40 more data, less insight07:18 where the name comes from07:54 the founding story10:43 Mike is a user11:16 streaming telemetry in real time13:14 design of experiments15:17 the Fid Labs acquisition16:31 DARPA CIPHER Forge19:35 closing the sim to real gap20:21 the commercial side23:31 lessons from Ukraine25:00 F-35 crowdsourced flight data27:15 fleet bugs found in days29:07 combined test force31:50 experimental operations unit32:34 speeding up test33:09 the pilot taking fire34:21 knowledge parity with the primes35:18 a billion dollar valuation36:03 hiring at Nominal#defensetech #podcast #military #testandevaluation #flighttest #digitaltwins #darpa #f35 #autonomy #nationalsecurity #airforce #dualuse #militarytechnology

How do systems operate when GPS disappears?Mike sits down with Kara Kramer, Vice President ofRaptor Sales at Vantor (formerly Maxar Intelligence), to discuss one of the most important challenges facing modern autonomous systems: operating when GPS is jammed, spoofed, or completely unavailable. We discuss vision-based navigation (VBN), 3D geospatialintelligence, and why resilient autonomy depends on more than just the drone itself. From electronic warfare to contested operations, this conversation examines how software and spatial intelligence are enabling unmanned operations, and Vantor’s unique approach.This isn’t just about navigation—coordinate generation and targeting elements are equally important.Topics include:• Vision-based navigation• 3D geospatial intelligence• Targeting without GPSBONUS: Kara also shares her professional journey and how she got into the defense industry!Whether you're building autonomous systems, working indefense technology, or simply interested in where drone technology is headed, this episode provides an inside look at one of the fastest-moving areas in aerospace.TOGETHER WITH VANTOR.SUBSCRIBE FOR FREE to get more intel on defense tech, news, and happenings. Links• Sign up for the newsletter⁠!• Support us on ⁠Patreon⁠!• Vantor home page • Vantor Raptor product page• Raptor inquiries• Vantor on LinkedIn   • Kara Kramer on LinkedIn    ----Follow us on...• LinkedIn• Instagram⁠• ⁠X⁠• ⁠Facebook⁠• ⁠Website⁠ ----00:0000:01:11 intro00:01:54 Vantor history00:03:26 Raptor origins00:03:59 Vantor backstory00:05:39 The SpaceX of VBN00:06:32 Raptor VBN00:10:11 issues with GPS00:12:44 pre-GPS terrain nav00:13:46 the Hub00:15:20 no hardware?00:17:57 how it all works00:20:47 geo-registered coordinates00:26:27 Kara's journey in defense00:28:24 Vantor in Drone Dominance00:35:19 Vantor partnerships00:39:02 contrarian takes00:40:37 fast cheap good triangle00:42:01 final thoughts #defensetech #dronetechnology #autonomy #gps #jamming #electronicwarfare #uas #drones #militarytechnology #geospatial #navigation #navigation #pnt #isr #aerospace #defenseinnovation #nationalsecurity #intelligence #intel #military

Anduril Industries raised $5 billion at a reported $61billion valuation—putting a nine-year-old defense tech company in the same conversation as legacy primes that have been building weapons for generations.How did they do it, what is their strategy, and does the math make sense?In this episode, Mike and Matthew take a deep dive inside Anduril’s products, revenue, contracts, and business strategy. They break down the Series H raise, the company’s rapid valuation climb, the difference between contract ceilings and booked revenue, and why visible federal obligations onlytell part of the story.They also examine Anduril’s expanding product portfolio, anddebate the core question behind the company’s $61B price tag: Is Anduril the future of defense industrial production, or is the market pricing in near-flawless execution?Topics include:- Anduril’s $5B Series H and $61B valuation- The gap between reported revenue and visible federalobligations- Why Special Operations and the Border Patrol matter morethan most people realize- The $20B Army enterprise vehicle—and why it is a rail, not acheck- Barracuda, Fury, Arsenal-1, and hyperscale defensemanufacturing- How Anduril compares to Lockheed, Northrop, GeneralDynamics, RTX, and Palantir- The bull and bear case for Anduril’s long-term strategy- What to watch next: IPO timing, task orders, deliveries, andrevenue growth- The real bet: for Anduril to justify today’s valuation, ithas to grow from a $2B revenue company into a $20B+ revenue company very quickly.SUBSCRIBE FOR FREE to get more intel on defense tech, news, and happenings. Links• Sign up for the newsletter⁠! • Support us on ⁠Patreon⁠! ----Follow us on...• LinkedIn• Instagram⁠• ⁠X⁠• ⁠Facebook⁠• ⁠Website⁠ ----00:0000:34 intro01:20 Premium newsletter!02:10 Anduril intro02:26 Matthrew intro04:32 Anduril 10106:52 Anduril's fundraising07:25 the next 24 months07:38 revenue breakdown08:23 happenings between the raises14:10 last 5 years of sales15:47 counter-UAS18:22 Steve vs Steve approach19:14 C-UAS durability?21:04 Altius21:52 comparing valuations23:21 sources of new revenue23:33 Barracuda24:08 CCA program27:28 Lattice28:20 Eagle Eye31:18 Golden Dome35:08 Anduril's strategy38:53 next acquisition?41:25 wrap-up

What does it actually take to get new technology into thehands of warfighters—and why is it still so hard?In this episode, Mike sits down with the co-founders ofDcode, Meagan Metzger and Meg Vorland, to unpack the reality behind defense innovation, acquisition reform, and the flow of capital into the sector. Dcode operates at a unique intersection—working withstartups, investors, and the Pentagon—giving them a rare, inside-out view of how the system really works.We break down why most acquisition reform efforts fallshort, whether recent policy changes are hitting the right targets, and what conventional wisdom in defense innovation is simply wrong.If you’re trying to understand how defense actually getsbuilt, funded, and fielded—this is the inside baseball.Links• Sign up for the newsletter⁠! • Support us on ⁠Patreon⁠! • Dcode website• Dcode Capital portfolio• Dcode LinkedIn• Meagan Metzger LinkedIn• Meg Vorland LinkedIn• CTRL + ALT + DEFENSE podcast---- Follow us on...• LinkedIn• Instagram⁠• ⁠X⁠• ⁠Facebook⁠• ⁠Website⁠ ---- 00:0000:44 intro01:19 Dcode origin story04:55 founders, funders, and fighters09:27 acquisition reform12:32 risk vs the no-monster15:58 buying speed vs rigor16:44 contracting officer shortage17:55 bigger worse contracts21:04 defense catalyst21:57 leadership and training23:05 the bigger picture25:33 budget line-item consolidation28:16 pass a budget30:41 investing in companies36:05 misconceptions38:28 colors and fallout39:33 conflicts of interest41:03 RAIC41:30 30042:12 pilot programs46:42 fielding47:29 magic wand48:49 crystal ball50:19 outro

All modern hardware depends on good software, but in theU.S. military, most software sucks.Rob Slaughter, co-founder and CEO of Defense Unicorns, joins the show to unpack why this is happening and what they are doing to fix it.We dive into the rise of “software as a weapon system,” therole of open-source software in national security, and how Defense Unicorns is building an air-gapped, platform-agnostic software delivery model designed for real-world military environments. This episode is a must for anyone in defense. You’ll learn a ton about software—we guarantee! Links• Sign up for the newsletter⁠! • Support us on ⁠Patreon⁠! • Rob LinkedIn• Defense Unicorns website• Defense Unicorns LinkedIn• Defense Unicorns X• Defense Unicorns YouTube---- Follow us on...• LinkedIn• Instagram⁠• ⁠X⁠• ⁠Facebook⁠• ⁠Website⁠ ---- 00:0000:43 intro01:09 Defense Unicorns name04:28 origin story06:38 the 3 I's08:46 software sustainment burden09:13 wrong incentive structure12:31 software as a weapon system14:39 rising tech debt16:18 open source18:46 open is more secure?20:43 SBOM22:24 solutions23:05 fighter jet software updates24:43 submarine software25:52 UDS27:05 disconnected software28:34 Chinese software underneath US systems30:48 competition33:43 crystal ball35:15 $136M fundraise37:56 magic wand - fixed price contracts40:14 McDonald's ice cream #AI #Technology #Tech #Innovation #Cybersecurity #youtube #Military #DefenseTech #MilitaryTech #Startup #Software #Business

This is the untold origin story of the Fury CollaborativeCombat Aircraft (CCA), as told by those who lived it.Scott Bledsoe and Joe Murray join Mike to talk about Fury’s very beginning—way back to 2016.Now known as Anduril’s YFQ-44, Fury originated as an SBIR project from Blue Force Technologies and may go on to become a poster child of SBIR success stories. But it’s not all good news.The experience—and the decision to sell to Anduril—motivated Scott and Joe to start a new type of investment fund called the DoD Accelerator. DoD Accelerator bridges the gap between venture capital and private equity, addressing the ‘funding valley of death’ they faced and the factors that led to the decision to sell their company—and Fury—to Anduril.This is packed with never-before-revealed details and serves as the backdrop for a broader conversation about the realities of having a company in the defense industry. Links• Sign up for the newsletter⁠! • Support us on ⁠Patreon⁠! • Scott Bledsoe • Joe Murray• WOTR High-Low Mix Part I• WOTR High-Low Mix Part II---- Follow us on...• LinkedIn• Instagram⁠• ⁠X⁠• ⁠Facebook⁠• ⁠Website⁠ ---- 00:0000:26 intro01:50 Scott and Joe07:21 DoD Accelerator09:51 Fury origin story11:24 SBIR16:28 the high-low mix17:11 writing to understand18:29 F-11719:04 no part 319:41 red air use-case24:29 Bandit and ADAIR-UX25:10 funding and the valley of death28:04 the capital void31:11 programs consolidate32:28 Anduril acquisition33:37 the small business divide34:14 DoD Accelerator fit36:12 Baxter Aerospace example41:19 the cheat code44:26 crystal ball45:17 the prime cartel?46:32 magic wand - IR&D policy change49:10 policy hurts start-ups52:51 DoD Accelerator focus areas