What is Anduril?
Anduril Industries is an American defense technology company founded in 2017 by Palmer Luckey that develops autonomous weapons systems and command-and-control software, including drones, counter-drone systems, and underwater vehicles, and sells primarily to the U.S. military and allied militaries. The material tracks its self-financed research posture and its position in the defense market’s middle tier.
Company timeline
- Jun 2026 - Palmer Luckey said Anduril has invested 100% of revenues into R&D every year of its existence, contrasting that with Lockheed Martin’s roughly 1% of revenue.
- Sep 2026 - Jason Calacanis said Fluidstack was advised on a loan application by Arabore Bank, a new national bank from Anduril founder Palmer Luckey aimed at tech and defense clients.
- Sep 2026 - Joe Weisenthal said that over three to five years, Anduril and Castelion could scale into the middle market, an area the traditional primes are not pursuing aggressively.
Where it appears in the record
Every line below is attributed to a named speaker.
Palmer Luckey contrasts Anduril's R&D intensity with Lockheed Martin's 1% spend.
“Go look at Locky Martin, they'll invest 1% of revenue in R&D. We have invested 100% of revenues into R&D every single year of Andrew's existence.”Palmer Luckey · 4 Jun 2026
Lockheed Martin invests approximately 1% of revenue in R&D, a figure Palmer Luckey cites as emblematic of the cost-plus defense contracting model.
“Go look at Locky Martin, they'll invest 1% of revenue in R&D. We have invested 100% of revenues into R&D every single year of Andrew's existence.”Palmer Luckey · 4 Jun 2026
Arabore Bank is a brand new national bank founded by Palmer Luckey (Anduril) specifically to serve tech and defense clients, and is already advising on the Fluid Stack Pentagon loan.
“Fluid stack being advised on that loan application by Arabore Bank, the brand new national bank from Andero founder Palmer Lucky, specifically to serve tech and defense clients.”Jason Calacanis · 12 Sep 2026
Anduril invests 100% of revenue in R&D annually, inverting the standard defense contractor model where R&D is a small fraction of revenue.
“Go look at Locky Martin, they'll invest 1% of revenue in R&D. We have invested 100% of revenues into R&D every single year of Andrew's existence.”Palmer Luckey · 4 Jun 2026
Anduril and Castilian are positioned to capture the middle-tier defense market within three to five years, a segment the major primes are largely ceding.
“Think about three to five years, the scalability for the Andurals and the Castilians of the world to come in and grab that middle market as well is an area that the primes aren't looking to grab into too much.”Joe Weisenthal · 4 Sep 2026