Anduril Targets an IPO Within Two Years as It Seeks a Larger Share of Pentagon Spending

Anduril Industries is aiming to go public within two years while seeking a larger share of U.S. defense spending. Its strategy includes urging the government to distribute defense work across a broader pool of competing suppliers.

Anduril said Oct. 6 that its Navy contract for Virginia-class submarine components could be worth up to $2.9 billion. Payments are tied to demonstrated production results, making the stated value a ceiling. The company also announced a separate planned $3.7 billion private investment in its Arsenal-2 shipyard, as described in its Navy submarine contract and Arsenal-2 investment.