We have been diligently tracking the Trump administration's war-economy mobilization across the homeland, from the rise of so-called "war unicorns" favored by the Department of War to Trump officials talking with GM, Ford, GE Aerospace, and Oshkosh about converting underused civilian industrial capacity into weapons production. The signal to investors is becoming hard to miss: the Trump administration is preparing to expand the defense industrial base at scale to refill depleted weapons stockpiles.

Whether through venture-backed defense startups, legacy defense primes, or redirected auto and heavy-manufacturing capacity, the White House's war policies point toward a major weapons-production boom on the horizon.

With that in mind, L3Harris Technologies has confidentially filed a draft S-1 with the SEC for a proposed IPO of its Missile Solutions business, or MSL.

L3Harris is now preparing for an IPO, as the SEC privately reviews the draft registration statement and may send comments or request changes. This occurs before the IPO roadshow begins.

Last week, L3Harris announced it had closed a $1 billion investment from the DoW into MSL, which will be used to "accelerate research and development, and increase production capacity for critical national security technologies."

"This strategic partnership with the Department of War is a testament to the critical role L3Harris plays in our national security," L3Harris CEO Christopher Kubasik wrote in a statement.

Kubasik noted, “The investment will allow us to accelerate innovation and enhance our ability to deliver the advanced capabilities our warfighters need to deter and defeat emerging threats. We are proud to partner with the DoW to ensure the resilience of our defense industrial base for years to come."

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MSL will be a direct play on the DoW ramping up orders for PAC-3, THAAD, Tomahawk, and Standard Missile systems, given that the two theaters of conflict across Eurasia, Ukraine-Russia and U.S.-Iran, are draining key missile stockpiles.