[Trump's defense budget](https://www.cnbc.com/2026/06/30/trump-trillion-dollar-defense-budget-missile-contracts.html) just allocated massive capex for hypersonic missiles and replenishment. The consensus trade is obviously the prime contractors—LMT, RTX, GD all getting the headlines. But here's what the crowd's missing: the industrial supply chain that feeds these programs is much smaller, has been consolidating for years, and trades at sharper multiples.

Research these companies