The $13 Billion Startup Racing to Close America’s Hypersonic Gap
Author: Allie Garfinkle
Publication: Fortune
Date: October 31, 2026
Publication: Fortune
Date: October 31, 2026
Key highlights
The article profiles Castelion, a California-based defense technology startup valued at $13 billion, founded in 2022 by three former SpaceX executives.
- Founders: Bryon Hargis, Andrew Kreitz and Sean Pitt.
- Technology: Blackbeard, a lower-cost hypersonic missile.
- Target production cost: Below $500,000 per missile.
- Government contracts: More than $500 million.
- Latest Navy contract: Up to $200 million.
- Manufacturing: A 1,000-acre facility in New Mexico designed to eventually produce thousands of missiles annually.
- Competitor: Lockheed Martin, particularly its Dark Eagle hypersonic program.
The central investment thesis: Castelion is attempting to disrupt traditional defense contractors by applying SpaceX-style rapid development, testing and scalable manufacturing to missile production.
I can also prepare a detailed investment-oriented summary, covering Castelion's valuation, funding, competitive position against Lockheed Martin, and the broader hypersonic weapons market.