Reflections from Morgan Stanley’s Inaugural National Security Innovation Summit

Research evidence excerpt

Reflections from Morgan Stanley’s Inaugural National Security Innovation Summit

Idea

June 16, 2026 04:25 AM GMT

Morgan Stanley & Co. LLCMDefense | North America Kristine T Liwag

Equity Analyst

Reflections from Morgan Kristine.Liwag@morganstanley.comJustin M Lang +1 212 761-2980

Justin.Lang@morganstanley.com +1 212 761-6251

Stanley’s Inaugural National Adam Jonas, CFA

Adam.Jonas@morganstanley.com +1 212 761-1726

Security Innovation Summit Stephen C Byrd

Stephen.Byrd@morganstanley.com +1 212 761-3865

Defense is at an inflection point as the sector navigates Jason T Holcomb

technology diffusion, capital disruption, policy shifts, and a wave ResearchJason.Holcomb@morganstanley.comAssociate +1 212 761-5592

of new entrants. We recap key themes from our inaugural Gabrielle Knafelman

National Security Innovation Summit below. ResearchGaby.Knafelman@morganstanley.comAssociate +1 212 761-4838

Shaina C Zuber

Wrapping our Inaugural MS NatSec Innovation Summit Research Associate

Shaina.Zuber@morganstanley.com +1 212 761-6353

We thank all the participants that contributed to a successful, first-ever MS National

Defense

Security Innovation Summit. We hosted 30+ corporates and 150+ investors for a

North America

full-day of panels spanning capital formation, space-based defense, battlefield Industry View Attractive

autonomy, missile production, dual-use technology, rare earths, and more. It’s clear

to us that Defense is approaching a defining moment as the sector digests harsh

lessons from recent conflict, unlearns past practices that have constrained

efficiency, and confronts a new outlook colored by rapid technological change (e.g.,

diffusion of AI / autonomy), shifting industry structures (e.g., the rise of neoprimes),

and novel industrial policies.