Why it’s on the map
Blue-UAS / NDAA bans on Chinese drone components + Section 232 drone tariff (100%, Sept 2). MP's Project Swarm supplies magnets.
Government money & contracts
Army $500M 3-yr counter-UAS award (July 2); $117M Army drone contract (June); Red Dragon award (Mar).
Customers & commercial
US Army/DoW.
Catalysts
FQ1 earnings Sept 9.
Risk
Drones flagged as candidate for government equity (dilution); task-order timing.
Tariff durability
Durable + 232.