The aerospace and defense sector has seen a surge of innovative companies in recent years, many of which have achieved unicorn status – private companies valued at over $1 billion. The Prime Unicorn Index, which tracks the performance of private U.S. companies, includes several noteworthy players in this field. Let’s take a closer look at some of the most prominent aerospace and defense unicorns:
SpaceX
Founded by Elon Musk in 2002, SpaceX has revolutionized the space industry with its reusable rocket technology. The company has achieved numerous milestones, including being the first private company to send a spacecraft to the International Space Station. With its ambitious plans for Mars colonization and global satellite internet coverage through Starlink, SpaceX continues to push the boundaries of space exploration and commercialization. SpaceX was last valued at $162.5 billion in the Prime Unicorn Index using secondary marks.
Anduril Industries
Co-founded by Palmer Luckey in 2017, Anduril focuses on developing autonomous defense systems and AI-powered military technology. The company’s products include autonomous surveillance towers and underwater drones, aimed at enhancing border security and military capabilities. Anduril’s innovative approach to defense technology has attracted significant attention and investment. The company’s last funding round was a $1.5 billion Series F in August 2024, valuing the company at $11.6 billion.
Sierra Space
A subsidiary of Sierra Nevada Corporation, Sierra Space is developing the Dream Chaser spaceplane, designed to transport cargo and eventually crew to low Earth orbit. The company is also working on inflatable space habitats, positioning itself as a key player in the growing commercial space industry. Sierra Space’s financial backing is reflected in its September 2023 Series B round of $290 million, which valued the company at a reported $5.3 billion.
Relativity Space
Known for its 3D-printed rockets, Relativity Space aims to revolutionize spacecraft manufacturing. The company’s Terran 1 rocket, largely 3D-printed, represents a new approach to rocket production that could significantly reduce costs and production time in the space industry. Relativity Space authorized a Series F round in November 2023, which would value the company at $4.5 billion on a pre-money basis.
Boom Technology
Boom is working to bring back supersonic passenger travel with its Overture airliner, designed to fly at twice the speed of sound. The company aims to make supersonic flight more sustainable and accessible, potentially transforming long-distance air travel. Boom’s ambitious goals are backed by significant funding, raising over $700 million in total funding. It is currently valued at $1.5 billion in the Prime Unicorn Index.
Shield AI
Focused on developing AI-powered autonomous systems for the military, Shield AI creates software and hardware solutions that enable unmanned systems to operate without GPS or communication links. Their technology aims to enhance situational awareness and decision-making in complex environments. Shield AI’s cutting-edge work is supported by substantial investment, last raising a $281 million series F at a $2.5 billion valuation.
Skydio
While primarily known for its consumer drones, Skydio has also made significant inroads into the defense sector. The company’s autonomous drones, powered by advanced AI, are being explored for various military applications, from reconnaissance to supply delivery. Skydio’s dual-market approach has attracted considerable investment, last raising a $230 million Series E in February 2023, which valued the company at $2 billion.
These unicorns represent the cutting edge of aerospace and defense technology, each bringing innovative solutions to longstanding challenges in their respective fields. From revolutionizing space travel to enhancing military capabilities with AI, these companies are shaping the future of the industry.
As the aerospace and defense sector continues to evolve, these unicorns are likely to play pivotal roles in driving innovation and pushing technological boundaries. Their presence in the Prime Unicorn Index not only highlights their financial success but also underscores the growing importance of private companies in an industry traditionally dominated by government contractors.