PitchBook：2026年第一季度国防科技风险投资趋势报告（英文版）（16页）.pdf

1、EMERGING TECH RESEARCHDefense Tech VC TrendsVC activity across the defense tech ecosystemQ12026REPORT PREVIEWThe full report is available through the PitchBook Platform.CONFIDENTIAL.NOT FOR REDISTRIBUTION.Q1 2026 DEFENSE TECH VC TRENDS2ContentsInstitutional Research GroupAli Javaheri Senior Research

2、 Analyst,Emerging Spaces Caleb Wilkins Data APublished on May 27,2026Defense tech landscape 3Quarterly analysis 4Key takeaways 4VC activity 5AI themes 6Macro backdrop 7Procurement signals 7Exits 8Conclusions 9Defense tech VC deal summary 33References 34CONFIDENTIAL.NOT FOR REDISTRIBUTION.Q1 2026 DEF

3、ENSE TECH VC TRENDS3Defense tech landscape For the complete Defense tech taxonomy and company list,click here to see the market map on the PitchBook Platform.Autonomous systemsAdvanced materials&manufacturingQuantum sciencesSensing,connectivity&securityHuman-machine interfacesSemiconductorsµele

4、ctronicsAdvanced computing&softwareSpace technologyDefense-specificRenewable energy generation&storageBiotechnologyCONFIDENTIAL.NOT FOR REDISTRIBUTION.Q1 2026 DEFENSE TECH VC TRENDS4Quarterly analysisKey takeaways Defense tech VC has graduated from an industrialization thesis to an industrialization

5、 fact.Q1 2026 closed at$19.8 billion across 262 deals.This was the largest single quarter the dataset has ever recorded.The quarter arrived in the middle of an active combat campaign whose tactical lessons validated the precise-mass doctrine that has guided venture deployment since mid-2024.Operatio

6、n Epic Fury demonstrated an 80:1 cost asymmetry between US Patriot interceptors and Iranian-built Shahed drones.Patriots run roughly$4 million per shot against Shahed drones costing$20,000 to$50,000 to produce.1 The 2026 National Defense Strategy codified the pivot toward homeland defense,reindustri