Catalysts & risks

Industry calendar (qualitative)

FY2027 NDAA and appropriations — C-UAS and sUAS plus-ups vs. plus-down.
Army SRR full-rate production and fielding evidence for Black Widow.
AVAV FY27 execution vs. $2.125–2.225B guide; BlueHalo integration quality.
RTX Coyote multi-year / LIDS follow-on orders vs. $5.04B IDIQ ceiling.
DCMA Blue List additions/removals; Neros, Skydio (private), Teal, AV Red Dragon.
Ondas conversion of $613M reported / $757M pro forma backlog — funded vs. acquired.
AEVEX BlackSea close and Deep Strike replenishment after backlog drawdown.

AVAV 2026-09 earnings
FY27 Q1 print (historically early September)
RCAT 2026-H2 procurement
SRR LRIP / FRP delivery-order evidence
RCAT 2026-11 earnings
Q3 2026 earnings (est.)
ONDS 2026-11-12 earnings
Q3 2026 earnings (Yahoo est.)
ONDS 2026-H2 M&A
DZYNE / Cyberhawk funded vs. pro forma backlog bridge
UMAC 2026-11-05 earnings
Q3 earnings (est.)
KTOS 2026-YE procurement
Possible additional USMC Valkyrie order (company commentary)
AVEX 2026-H2 M&A
BlackSea Technologies close / break
AVEX 2026-11-12 earnings
Q3 earnings (est.)
TDY 2026-10 earnings
Q3 earnings (typical late Oct)
LHX 2026-08-25 industry
IDGA Counter-UAS Summit (Washington area)
RTX 2026-H2 policy
FY27 multi-year Coyote language in budget/NDAA
PLTR ongoing product
Army demo of VNav on fielded Black Widow (company intent)
DPRO 2026-11 earnings
Next earnings (est.)