Daily Report

Dec. 2, 2025

Radar Sweep

JP Morgan Eyeing Both Defense Startups and Legacy Firms for $10B Investment Push: Execs

Breaking Defense

As part of a new initiative aimed at bolstering national security, JPMorganChase has pledged to invest $10 billion over the next decade in areas like defense and advanced manufacturing—and the financial giant isn’t just going to be looking at venture-backed startups as potential recipients for capital, executives told Breaking Defense.

Pentagon Pledges $400 Million for ‘Immediate’ Barracks Renovation

Task & Purpose

The U.S. military is investing $400 million for “immediate work” on improving and renovating aging, faulty and dilapidated troop housing. That investment is part of a $1.2 billion funding plan to overhaul barracks across the services, Secretary of Defense Pete Hegseth said in a video posted to social media.

Russian Shahed-136 Kamikaze Drones Now Armed with Air-To-Air Missiles

The War Zone

Russia has fielded a new version of the Shahed-136 kamikaze drone armed with a single R-60 air-to-air missile. In principle, the heat-seeking R-60 would give the one-way attacker a way to engage Ukrainian fixed-wing aircraft and helicopters, and creates a deterrent threat, but the effectiveness of this combination is unclear.

Boeing’s 737-Derived E-7 Wedgetail Caught in Congress-Pentagon Spat

The Seattle Times

Boeing’s E-7 Wedgetail is caught in a political tug-of-war. ... It is already operating with the U.K., Australia, Korea and Turkey, and was set to replace the U.S. Air Force’s aging E-3 Sentry, another Boeing-built product. But in June, Defense Secretary Pete Hegseth canceled the contract for up to 26 Wedgetails, citing program delays and cost overruns. That prompted another cancellation by the U.S.’s European allies this month, leaving the program with few future customers. Then came Congress.

Varda Space Launches Its Fifth Mission, Extends Run of AFRL Test Flights

SpaceNews

Varda Space Industries said Nov. 28 that its fifth mission, W-5, reached orbit after a launch from Vandenberg Space Force Base aboard SpaceX’s Transporter-15 rideshare. Transporter-15 lifted off at 1:44 p.m. Eastern carrying 140 small satellites. W-5 was among them, becoming the latest in Varda’s effort to build “space factories” that use microgravity to manufacture materials in orbit then bring them back to Earth.

One More Thing

Commemorative Air Force Launches Annual ‘12 Planes of Christmas’ Fundraising Campaign

Vintage Aviation News

The Commemorative Air Force launched 12 Planes of Christmas, its annual winter fundraising initiative dedicated to preserving and restoring America’s historic military aircraft. The campaign highlights twelve CAF aircraft currently in need of restoration, maintenance, or repair—each representing a unique chapter of aviation history.