Palmer Luckey, founder of Anduril Industries Inc., said he expects U.S. defense spending to remain broadly stable even if Democrats win control of Congress in next week's midterm elections.
In an interview on Tuesday, Luckey said most Democrats who wield influence over the defense budget "understand that we are in a very unusual period" and recognize the need to replace legacy systems to address near-term threats.
He said defense technology startups such as Anduril will likely benefit regardless of which party controls spending. "Even in a blue wave, you don't necessarily see a huge change in defense spending," Luckey said. "I think most people on both sides of the aisle agree that America needs to invest in new technology."
Earlier this month, the U.S. Department of Defense selected Luckey, who describes himself as "an engineer, not a politician," to co-lead a 120-day study on the future of warfare. The effort, called Project Meridian, is intended to help design the weapons the United States will need in the years ahead. Luckey is co-leading it with Elon Musk and former House Speaker Newt Gingrich. Luckey said the 20-person group is still being assembled. He hopes the final report, due in January, will genuinely reflect diverse viewpoints rather than repeat well-known conclusions.
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