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The United States Military is increasingly focused on electronic warfare and cyberattack defense. These priorities are reflected in the Department of Defense (DoD) budget as well; 40% of the DoD’s military budget is allocated towards the procurement of military electronics and technologies. A large amount of capital must be spent on the upgrades needed to achieve this level of modernization, a primary driver of demand within this space. The DoD is expected to invest approximately $30B in electronic warfare capabilities over the next 3 years.The military’s shift from physical fighting to electronic warfare and cybersecurity has created M&A opportunities for industry players, who are growing their companies by acquiring smaller companies with specialized capabilities within the C4ISR space.