Anduril Industries
Overview
Builds defence hardware and software with its own capital first and sells finished products rather than bidding cost-plus development programmes, unified by its Lattice command-and-control software layer; in space it acquires and integrates capability (ExoAnalytic) and orchestrates a partner team rather than building satellites end-to-end alone.
Moat: Vertical integration plus self-funded development lets Anduril field systems on commercial timelines traditional primes cannot match; the ExoAnalytic acquisition gives it a proprietary global sensing asset — 400+ commercial telescopes — that no software-only competitor can replicate.
Business
Primary customers
- Defense: US Space Force
- Defense: US Department of Defense (Golden Dome program)
Sectors
national-security-space · missile-defense · space-domain-awareness · defense-software · counter-uas · autonomous-systems
Last Funding Round
Key Products
- Space-Based Interceptor (SBI)development
Space-based missile-defence interceptor for Golden Dome; Anduril leads and integrates partner technology.
- ExoAnalytic global telescope networkoperational
400+ commercial telescope systems providing persistent deep-space and GEO object tracking, acquired 2026.
- Space Surveillance Network mesh networkingdevelopment
Secure resilient mesh networking connecting SSN and space-domain-awareness sensors; USSPACECOM mandated full deployment by end-2026.
- Latticeoperational
AI/autonomy command-and-control software layer — the integration substrate across all Anduril domains, including space.
Government Contracts
| Agency | Program | Amount | Year | Source |
|---|---|---|---|---|
| US Space Force | Space-Based Interceptor (SBI) for Golden Dome for America — Anduril leads an industry team with Impulse Space, Inversion Space, K2 Space, Voyager Technologies and Sandia National Laboratories | Part of 20 OTA agreements worth up to $3.2B across 12 companies; Anduril's individual share undisclosed | 2026 | |
| US Space Force | Space Surveillance Network modernization — resilient secure mesh networking for space-domain-awareness sensors | $100.3M contract modification, raising the IDIQ ceiling to $200M | 2026 |
Near-term Catalysts
- 2026-2027
Golden Dome SBI down-select
Transition from parallel prototyping (12 companies, up to $3.2B in OTAs) to a production award is the defining event for Anduril's space business.
- 2026
ExoAnalytic integration into Lattice
Anduril's first space acquisition, doubling its space headcount — tests whether it can convert hardware into a space-domain-awareness product.
- 2026
Space Surveillance Network deployment deadline
A hard USSPACECOM deadline and a visible pass/fail on Anduril's ability to deliver operational space infrastructure.
Top Risks
- Golden Dome is a politically defined programme; a re-scoping under a future administration would strand Anduril's space investment thesis.
- The $61B valuation (and a rumored, unclosed ~$100B round) rests on unaudited, undisclosed financials with no SEC reporting obligation.
- Space is Anduril's least-proven domain — it has flown no interceptor and, before ExoAnalytic, had no operational space asset, while simultaneously competing against and subcontracting from established primes.
Recent Milestones
- 2026-05-13
$5B Series H at $61B valuation, co-led by Thrive Capital and Andreessen Horowitz
- 2026-05-05
Named Space-Based Interceptor lead with Impulse Space, Inversion Space, K2 Space, Voyager Technologies and Sandia National Laboratories for Golden Dome
- 2026-05
$100.3M Space Force modification for Space Surveillance Network mesh networking, raising the IDIQ ceiling to $200M
- 2026-03-11
Agreement to acquire ExoAnalytic Solutions (400+ telescopes) — first space acquisition; terms undisclosed
What investors should know
Q1Is Anduril a space company?⌄
Q2Did Anduril win the July 2026 SDA satellite award?⌄
Q3What is the ExoAnalytic acquisition?⌄
Q4Who else is on Anduril's Golden Dome Space-Based Interceptor team?⌄
Q5What is Anduril's valuation?⌄
Q6Does Anduril disclose revenue?⌄
Peers
Sources & References
Agency Document
- Space Development Agency · 2026-07-13
Trade Press
- Breaking Defense · 2026-03(archived)