For seven decades, the American defense industry has operated on a logic alien to almost every other sector of the economy. While automakers, software firms, and consumer-goods companies live or die by competition, the Pentagon has handed out generational contracts to a shrinking circle of legacy giants — Lockheed Martin, Boeing, Raytheon, Northrop Grumman, General Dynamics, L3Harris — whose corporate hymnals were scored decades before the iPhon…
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