A new ‘Prime’ on the block? Anduril vs. Lockheed Martin, General Dynamics and Northrup Grumman

Key Takeaways
Anduril, a next-generation defense contractor founded in 2017, is rapidly disrupting the traditional defense industry by taking a proactive, software-driven approach to military innovation.
While legacy defense giants, or ‘Primes,’ like Lockheed Martin, General Dynamics, and Northrop Grumman typically build to government-issued specs, Anduril develops battlefield-ready solutions in anticipation of future needs — emphasizing speed, autonomy, and integrated AI systems.
In the past year, Anduril’s Early Bird Price™ has risen by 115%, suggesting heightened investor interest and signaling a market perception shift toward this fast-moving, tech-native defense player.
Meanwhile, public market stalwarts like Lockheed Martin (-15%), General Dynamics (+11%), and Northrop Grumman (+14%) have seen modest or negative stock performance over the same period, as pressures mount to evolve their legacy models.
Overview
In defense contractor circles, the top companies who receive a significant portion of government contracts are known as “the Primes.” The Primes include Lockheed Martin, General Dynamics, and Northrup Grumman, as well as Raytheon and Boeing. Anduril, a tech-native defense company, is increasingly being seen as a potential candidate to join this roster — one that doesn’t wait for legacy marching orders but instead charts its own strategic path. As traditional defense contractors continue to execute on sometimes-dated business models, Anduril is moving at startup speed, integrating AI, software, and autonomous systems into battlefield-ready platforms. And with each new contract win and valuation bump, the market is beginning to take notice.
While Anduril and the defense contractor leaders Lockheed Martin, General Dynamics, and Northrup Grumman may appear to operate similar businesses on the surface — developing high-tech weapons systems, drones, surveillance tools, and AI-powered platforms for the U.S. military — their models couldn’t be more different. Historically, legacy Primes have waited for the federal government to release specific program requirements before building to spec. Anduril flips that approach on its head, proactively designing and deploying systems that anticipate future needs. It’s a bet on speed and vision — and so far, it’s paying off.
The Details
Anduril's Disruptive Approach
Founded in 2017 by Palmer Luckey, Anduril has rapidly gained attention for its innovative approach to defense technology. Unlike traditional defense contractors that often wait for government directives, Anduril proactively develops integrated hardware and AI-driven software solutions, anticipating military needs. This strategy has led to significant contract wins and a valuation surge to $52.9 billion as of September 2025.
Anduril’s New Playbook
Where traditional defense contractors are large organizations with vast portfolios and long-standing government relationships, Anduril operates much more like a Silicon Valley tech firm. The result? The company has become a new magnet for defense contracts, scoring deals across border security, autonomous systems, and battlefield AI — and doing so at a speed that stands in stark contrast to the historic pace of legacy contractors.
Since its founding, Anduril has over $6.5 billion in funding and, as of September 2025, boasts an Early Bird Price™ of $70.92 per share, implying the valuation noted above — up sharply from its June 2025 $30.5 billion valuation at its last primary funding round. In fact, Anduril’s price on Early Bird’s private market platform has risen 115% in the past year alone, signaling strong demand from investors eager to tap into next-generation defense innovation.
Comparing Market Performance
Anduril's significant Early Bird Price™ increase over the past year stands in contrast with the public market performance of Lockheed Martin, General Dynamics, and Northrup Grumman over the same period:
Lockheed Martin (LMT): -15% from September 2024 to September 2025, due to some recovery from its trough in March as spending pressure, flat earnings, and limited growth in next-gen tech sectors have weighed on its valuation.
General Dynamics (GD): +11% over the last year, though still lagging behind broader market indices.
Northrop Grumman (NOC): +14% over the same period, impacted by budgetary uncertainty and missed contract expectations.
Meanwhile, Anduril’s +115% gain on Early Bird tells a very different story — one of a company rapidly building momentum in a sector historically dominated by legacy players.
Early Bird + Yahoo Finance Data: A New Lens on Public vs. Private Defense Contractor Stocks
Thanks to the recently announced partnership between Early Bird and Yahoo Finance, investors can now closely monitor private company prices like Anduril’s Early Bird Price™ alongside public defense giants in real time. These side-by-side comparisons help spotlight potential shifts in market leadership — and Anduril’s current trajectory is tough to ignore.
Conclusion
Anduril’s growth signals that the defense industry is undergoing a noteworthy structural shift. The old model — build to spec, win the bid, and iterate slowly — may no longer be sufficient in an era of rapidly evolving threats and technological acceleration. Anduril’s strategy of proactive product development and integrated tech stacks positions it as not just a disruptor, but potentially the next four-star general in the defense hierarchy.
While Anduril remains much smaller than Lockheed Martin, General Dynamics, or Northrup Grumman in raw scale, its model, momentum, and market response suggest that a new type of defense contractor is gaining traction. As the U.S. government increasingly prioritizes speed, innovation, and adaptability, Anduril may be exactly the kind of partner it needs — and investors are taking note.
So, is it time for the defense sector to embrace a new Prime? Based on share price trends and contract wins, Anduril is making its case — one billion-dollar deal at a time.