Ukraine moves toward deal for US drone factory

Ukraine and the United States are moving forward with plans to jointly produce Ukrainian-designed drones in the US, President Volodymyr Zelenskyy said, as Washington seeks to draw on technology developed during more than four years of war with Russia.

Speaking in an interview with US political commentator Laura Loomer broadcast on July 24, 2026, Zelenskyy said the proposed partnership would include a factory and drone production lines in the United States.

“We will build a great factory in the United States,” Zelenskyy said. “We want to have lines of production.”

Zelenskyy described the planned cooperation as a “win-win” arrangement that would combine Ukraine’s rapidly evolving drone technology with US manufacturing and defense capabilities.

Ukraine and the United States have reportedly signed a statement of intent establishing a framework for deeper cooperation on unmanned systems. The document is an initial step rather than a final production contract, and the details of a broader agreement remain under negotiation.

A source familiar with the talks told Reuters that officials were still working through the terms ahead of Zelenskyy’s scheduled meeting with US President Donald Trump in Washington on July 28, 2026. The White House confirmed that the leaders were expected to meet.

The negotiations mark a notable change in the defense relationship between the two countries. Ukraine has depended heavily on American weapons and financial assistance since Russia launched its full-scale invasion in February 2022. The proposed drone partnership would see battlefield-developed Ukrainian technology transferred in the opposite direction for production and possible use by the US military.

Ukraine has become one of the world’s largest developers and users of unmanned aircraft, producing millions of drones annually and modifying designs quickly in response to changing Russian defenses and electronic warfare tactics.

Zelenskyy said Ukrainian long-range drones can now fly more than 3,000 kilometers, or approximately 1,864 miles, with further increases in range under development.

The proposed manufacturing agreement is linked to the Pentagon’s effort to acquire large numbers of inexpensive unmanned aircraft more quickly.

Ukraine has agreed to export drones to the United States for evaluation under the Pentagon’s Drone Dominance program, according to Reuters. Six Ukrainian companies have reportedly received permission to export approximately 100 drones each, although the companies and aircraft types involved have not been publicly identified.

The exports would allow the US military to assess systems developed and modified under combat conditions before any larger manufacturing program begins.

The Pentagon launched Drone Dominance to accelerate the acquisition of low-cost unmanned systems and reduce the time required to move new designs from development into operational units. US defense officials have increasingly pointed to Ukraine’s experience as evidence that traditional procurement cycles cannot keep pace with the rapid evolution of drone warfare.

Ukraine has already established or announced joint drone-production arrangements with several allied countries.

Kyiv and Denmark signed a drone agreement in July 2026 that allows Ukrainian defense companies to establish production with access to partner-country markets. Ukraine has also announced joint-production initiatives with Canada, Norway, the Netherlands, Estonia and Germany.

The Ukrainian government has also streamlined the process for transferring drone technology, weapons and technical documentation to countries participating in its international Drone Deal framework. The revised process is intended to reduce approval times to as little as 30 days.

Ukraine’s Ministry of Defense said in June that Ukrainian manufacturers supplied 95% of the drones procured for the country’s armed forces. Nearly 485,000 unmanned systems and related items had been delivered through the government’s DOT-Chain Defence marketplace during the first five months of 2026.

No location, construction timetable, production capacity or participating manufacturers have been announced for the proposed US factory.

It also remains unclear which Ukrainian drone designs would be built in the United States or whether the aircraft would be intended primarily for the US military, Ukraine or export customers.

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China’s Rare Earth Strategy Is Forcing a U.S. Manufacturing Revolution

Beijing is now desperately attempting to bring rare earth manufacturing back inside its own borders, exclusively.

New Chinese export restrictions specifically target American plans to begin the country’s first commercial production of rare earth magnet materials by 2027.

To counter that move, REalloys (NASDAQ: ALOY) is rebuilding every major stage of North America’s rare earth industry. Over the past two years, the company has assembled heavy rare earth feedstock, separation, metallization, alloy production, and permanent magnet manufacturing into a single North American mine-to-magnet supply chain designed to operate independently of Chinese material.

And now, the company’s first commercial facilities are expected to come online in the New Year, just as the Pentagon’s ban on Chinese-origin rare earth magnets takes effect, forcing defense manufacturers to secure entirely new sources of supply.

Under the pressure of escalating Chinese export restrictions and the Pentagon’s looming procurement ban, REalloys has become one of the focal points of America’s rare earth rebuild.

The Defense Logistics Agency (DLA) backed the company’s metallization technology, institutional investors committed approximately $100 million to accelerate construction, and the U.S. Army chose REalloys to build the first commercial heavy rare earth processing operation on a U.S. military base.

This is where the front line of the rare earths war shifts from mining to manufacturing.

China’s Step-By-Step Rare Earths War Plan

China’s campaign is advancing one restriction at a time, with each new measure tightening Beijing’s control over the global rare earth industry.

The first step was licensing.

Beijing began requiring exporters to seek approval before shipping key rare earth materials abroad, including the heavy rare earths needed for high-performance magnets. That gave China control over when material leaves the country, who receives it, and how long buyers are forced to wait.

The second step was targeting specific companies.

In June, China added U.S. rare earth firms, including MP Materials and USA Rare Earth, to its export control list, blocking Chinese-origin dual-use materials from reaching them, specifically. That changed the nature of the war entirely. 

Now, Beijing was controlling minerals, with the added restriction of also controlling which American companies could ultimately get their hands on them.

The third step was enforcement.

China created a public reporting system for suspected violations involving strategic mineral exports to close any remaining loopholes. Employees, competitors, freight companies, customs brokers, and financial service providers are all now part of the enforcement network. That means that rerouting material through third countries, disguising controlled products, or helping an end user evade restrictions is legally risky.

The fourth step was fear.

Reported detentions of foreign nationals and domestic enforcement actions against Chinese exporters have made suppliers more cautious. A Chinese company that once shipped rare earth material abroad now has to consider customs scrutiny, criminal liability, end-user documentation, and political risk before accepting an order.

The result is a supply chain that is becoming harder for Western companies to use by design. Even when material is technically available, the licensing, paperwork, delays, restricted-party exposure, and enforcement risk make Chinese-origin supply less reliable with every new rule.

Beijing is using rare earth controls to pull more value back inside China. If foreign manufacturers can’t reliably obtain heavy rare earths such as yttrium, dysprosium or terbium, then Chinese manufacturers end up replacing foreign manufacturers as suppliers of finished products.

The American answer to this, and the REalloys solution, is definitive: Recreate the entire supply chain to bypass China, turning the tables on Beijing’s restrictions, which now may prove too late to do as much damage as Beijing was hoping.

The Great American Industrial Buildout

Government support can launch a critical minerals strategy, but it can’t build an industry by itself overnight.

REalloys (NASDAQ: ALOY) reached that milestone in June, raising approximately $100 million from institutional investors to accelerate its vertically integrated mine-to-magnet platform, including what the company says will become the largest heavy rare earth metallization facility outside China and the Western Hemisphere’s first commercial-scale heavy rare earth metallization platform.

The financing provides working capital which is expected to go towards expanding processing, metallization and downstream manufacturing as the company moves toward commercial production, marking the transition from a government-backed concept to an industrial project financed by private markets.

Upstream, midstream, and downstream, REalloys has integrated everything.

Upstream: Non-China Feedstock Secured

REalloys first secured exclusive commercial agreements with the Saskatchewan Research Council (SRC), giving REalloys long-term access to separated heavy rare earth materials, including dysprosium and terbium oxides.

In a rapid succession of offtake deals, REalloys also signed a 15-year definitive offtake agreement with Critical Metals Corp. covering 15% of Phase 1 production from the Tanbreez Project in Greenland, one of the world’s largest rare earth deposits outside China.

Additional agreements with St George Mining in Brazil, Patriot Exploration & Mining in Montana, Ramaco Resources in Wyoming, Kazakhstan-based partners and others expanded the company’s future feedstock pipeline across multiple allied jurisdictions and geological sources.

Those materials are among the hardest to obtain outside China and are essential for the high-temperature permanent magnets used in fighter aircraft, guided missiles, submarines, radar systems and other defense platforms.

Midstream: Battling China’s Metallization Monopoly

For conversion into alloys, also known as “metallization”, REalloys boldly goes where China has dominated for decades. Feedstock is only the first step. Those rare earth oxides must still be converted into high-purity metals before they can be alloyed and manufactured into permanent magnets.

In March, the U.S. Defense Logistics Agency (DLA) awarded REalloys a contract worth up to $1.7 million to design a modular facility capable of producing up to 300 metric tons per year of samarium and gadolinium metals. The award backed REalloys’ metallization technology, recognizing one of the least-developed capabilities in the American rare earth supply chain.

Only days later, REalloys announced plans to build the largest heavy rare earth metallization facility outside China.

The facility is expected to produce approximately 30 tonnes of dysprosium and 15 tonnes of terbium metal annually, converting heavy rare earth oxides into the high-purity metals required for defense-grade permanent magnets. The equipment will be built and commissioned in Saskatoon in partnership with the SRC before being relocated to REalloys’ operations in Euclid, Ohio, where it will supply the company’s downstream alloy and magnet manufacturing platform.

Downstream: The ~$40B Permanent Magnet Industry

As the U.S. Army was negotiating direct rare earths processing for the first time at an American military base, REalloys was not growing complacent. Instead, it was forging its downstream strategy to bring this national security supply chain full circle.

Earlier this month, REalloys signed a strategic agreement with permanent magnet manufacturer JS Link to develop one of the first fully integrated non-Chinese rare earth magnet platforms. The agreement brings together feedstock, separation, metallization, alloy production, and permanent magnet manufacturing under a single North American industrial strategy.

The enormity of this supply chain is exactly why a former Vice Chief of Staff of the Army, the president of GM Defense, a former Chief of Staff to the Secretary of Defense, a former Canadian ambassador to Washington, and one of Wall Street’s senior investment bankers have all converged around REalloys.

The board is chaired by Stephen duMont, the President of GM Defense and a former senior executive at Raytheon Technologies. His career has centered on supplying advanced military systems to the U.S. Department of Defense, giving him direct experience with the procurement processes and industrial requirements that increasingly shape the rare earth industry.

Joining him on the board is General Jack Keane, the former Vice Chief of Staff of the U.S. Army and one of America’s best-known military strategists. Keane has spent decades advising U.S. defense leaders on national security and military modernization, bringing a strategic perspective closely aligned with the Pentagon’s growing focus on securing domestic supplies of critical materials.

The company also appointed Joe Kasper, former Chief of Staff to the U.S. Secretary of Defense, as Chairman of its Advisory Board. Kasper played a central role in defense policy and acquisition during his time at the Pentagon, where rebuilding secure supply chains for strategic materials became an increasingly important national priority.

On the Canadian side, former Canadian Ambassador to the U.S. David MacNaughton and former Saskatchewan Premier Brad Wall provide deep experience in North American industrial cooperation. And on the financial side, REalloys has brought in Bob Foresman, former Vice Chairman of UBS Investment Bank, whose career has focused on international capital markets and large-scale corporate finance.

What they all see is this: A massive opportunity to flip Chinese assumptions that the West will remain dependent on Beijing for its defense.

REalloys’ strategy also reflects a much broader shift taking place across the North American industrial base. MP Materials (NYSE: MP) is expanding beyond mining into domestic magnet production, while global mining heavyweight Rio Tinto (NYSE: RIO) continues increasing its exposure to critical minerals as demand for rare earths, lithium and other strategic materials accelerates. The industry is increasingly moving away from simply extracting raw materials toward securing entire supply chains, from mining and processing to advanced manufacturing.

That transition matters because some of America’s largest industrial companies depend on secure access to these materials. Honeywell (NASDAQ: HON) uses rare earth-based technologies across its aerospace, automation and defense businesses, while Caterpillar (NYSE: CAT) is incorporating greater electrification, autonomous systems and advanced motors into its mining and construction equipment. As China’s export controls become more restrictive, companies throughout the manufacturing sector are recognizing that supply chain security has become just as strategically important as access to the minerals themselves.

Rather than viewing rare earths as simply another mining story, investors are increasingly seeing them as the foundation of the next generation of American industrial manufacturing. The companies that can secure reliable supplies of critical minerals, processing capacity and permanent magnets will be better positioned to support the growing needs of defense, aerospace, electric vehicles, robotics and AI-driven infrastructure in the years ahead.

With commercial production approaching, private capital complementing government seed funding, and defense procurement rules about to change permanently, this Rare Earths War is moving from policy papers to factory floors. For the first time in a generation, the United States is approaching the point where it can compete for the entire rare earth value chain instead of simply buying pieces of it from abroad.

By. Michael Kern

The AI boom is triggering an unexpected and unprecedented bull run in natural gas and power  stocks. If you aren’t paying attention to the energy demands of data centers, you will miss the biggest energy story of the decade. The smart money is already quietly moving into the few companies prepared to power the trillion-dollar AI machine.

Oilprice Intelligence brings you the inside view on where the next gains will come from, breaking down the market’s biggest growth driver with analysis from veteran oilmen and experts. Click here to get this crucial intel for free

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What it means for India

Industry representatives noted that even if generic drug manufacturing were established domestically in the US, active pharmaceutical ingredients (APIs) would still need to be imported, as America lacks sufficient API manufacturing capacity. For these reasons, a full-scale reshoring of the generic pharmaceutical ecosystem to the US is unlikely to be achieved within two years.

They also flagged challenges related to labour costs, compliance burdens and the lack of a supporting ecosystem. “It’s almost impossible to manufacture in the US, as there are no APIs, raw materials or packaging materials being produced there. Labour costs are almost 10-15 times higher, so it may be good to threaten the world, but practically it is almost impossible,” said Vijay Shah, Managing Director of Stallion Laboratories, an exporter to the US.

How did the market react?

Following Trump’s announcement, Indian pharmaceutical stocks fell sharply in early trade, with the Nifty Pharma index declining nearly 2% as investors weighed the potential impact of tariffs that could eventually rise to 200%.Shares of Sun Pharmaceutical Industries, Cipla, Dr Reddy’s Laboratories, Lupin and Aurobindo Pharma were among the biggest losers in early trade. Aurobindo Pharma fell 3.48% to S1,525.50, while Sun Pharma declined 0.95% on the BSE. Cipla and Lupin both dropped about 2.5%, while Dr Reddy’s Laboratories slipped more than 1%. Shares of Zydus Lifesciences, Alkem Laboratories and Torrent Pharmaceuticals also declined by up to 2%.

What could be the bigger challenge for India?

According to GTRI, India’s pharmaceutical industry should prepare for a bigger strategic risk than US tariffs: dependence on China. About 70% of the chemical-based active pharmaceutical ingredients used by Indian drug makers and nearly 90% of biologic inputs are sourced from China. Yet, until the 1990s, India was a leading producer of APIs.

GTRI warned that if Beijing were to restrict API exports while simultaneously expanding sales of higher-value finished medicines, India’s pharmaceutical industry could face serious supply disruptions. India should therefore make rebuilding its API manufacturing base a national priority by expanding domestic production and reducing reliance on a single supplier.

At the same time, Indian pharmaceutical companies should reduce their dependence on the US market by expanding exports to Europe, Latin America, Africa and Asia.

Is this the first time?

This is not the first time the Trump administration has threatened tariffs on pharmaceutical imports. In April this year, Trump announced plans to impose a 100% ad valorem tariff on imports of patented pharmaceuticals and associated pharmaceutical ingredients, citing national security concerns.

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BlueLinx Stock and 2 U.S. Manufacturing Picks for Tariff Driven Price Power

Tariffs are back in the headlines, and for U.S. manufacturing stocks that can mean real shifts in costs, pricing power, and investor expectations. With the Trump administration’s new 10 to 12.5% global tariffs and fresh legal challenges testing how long these rules might last, some domestically focused producers may find themselves better positioned than import heavy rivals. This article looks at 3 U.S. manufacturing stocks from our screener that appear closely exposed to the latest tariff news, explaining how the policy and court risk could influence their margins, cash flows, and appeal for investors trying to position around these trade shocks.

Overview: BlueLinx Holdings is a U.S. based distributor of residential and commercial building products, supplying everything from engineered wood, siding and millwork to structural lumber and panels to large home centers, pro dealers and local contractors through warehouse, reload and direct sales.

Operations: BlueLinx generates all of its approximately US$3.0b in revenue from wholesale building products in the United States.

Market Cap: US$455m

Investors looking at tariff sensitive manufacturing stocks may find BlueLinx Holdings interesting because its largely domestic footprint can limit exposure to import cost shocks while still benefitting if tariffs lift pricing for imported competitors. The company is pushing harder into higher margin specialty categories and multifamily projects, but recent results show that margins and profitability remain under pressure, with a recent quarterly net loss and a history of losses over several years. The stock trades on a low P/S multiple versus peers, yet depends on a strong earnings improvement story and carries funding risk through external borrowing. The central question is whether the mix shift and tariff backdrop are enough to change the trajectory.

BlueLinx Holdings looks like a tariff era wildcard, with a domestic revenue base, a low P/S multiple and a push into specialty products that many investors may be underestimating, so it is worth reviewing the 3 key rewards and 1 important warning sign

NYSE:BXC P/S Ratio as at Jul 2026

Overview: Matrix Service is an engineering and construction company that builds and maintains critical energy and industrial infrastructure, including storage tanks, LNG and hydrogen facilities, substations and power projects, and specialized industrial plants across the U.S., Canada, and select international markets.

Operations: Matrix Service generates most of its roughly US$847.8m in revenue from Storage and Terminal Solutions (US$420.0m), with additional contributions from Utility and Power Infrastructure (US$282.9m) and Process and Industrial Facilities (US$144.9m), largely in the United States.

Market Cap: US$347.2m

Matrix Service stands out in the current tariff cycle because it supports U.S. based infrastructure projects and has contract structures that management says help shield it from sudden cost swings. A US$7b project pipeline and a recent shift toward higher margin electrical and storage work frame a potential return to more consistent profitability. At the same time, the company is still working through losses, relies on external borrowing, faces execution risks on large multi year projects, and is handling a CFO transition. Together, these factors help explain why the stock trades well below some cash flow and fair value estimates. For investors, the question is whether operational restructuring and the tariff tailwind are enough to offset these financing and execution risks.

Matrix Service’s US$7b project pipeline and shift toward higher margin work could be masking a deeper story about risk and reward, so it is worth reading the 4 key rewards and 1 important warning sign

NasdaqGS:MTRX Revenue & Expenses Breakdown as at Jul 2026

Overview: Generac Holdings is an energy technology company that makes backup generators, home energy storage, and other power equipment for households, businesses, and data centers, along with smart home and energy management products that help customers monitor and control their power use.

Operations: Generac generates most of its roughly US$4.3b in revenue in the United States, with about US$3.6b from the domestic market and around US$803m from international customers.

Market Cap: US$11.9b

Generac Holdings is attracting attention because it sits at the crossroads of U.S. manufacturing and the global push for reliable power, from home standby generators to large data center backup systems, while producing largely in the U.S. in a tariff heavy world. Earnings are forecast to grow, yet the stock trades on a rich P/E and relies fully on external borrowing, so the balance sheet and execution on big data center contracts matter. Recent margin gains and upgraded EBITDA guidance indicate that the business is scaling its higher value segments. However, exposure to residential solar headwinds, outage driven demand swings, and tariff sensitive supply chains means this is not a simple story.

Generac Holdings is leaning into higher value power and data center projects, yet a rich P/E and full reliance on borrowing raise big questions about how the story plays out next. It is worth scanning the analyst forecasts for Generac Holdings

NYSE:GNRC P/E Ratio as at Jul 2026

The three stocks covered here are just a starting point, and the full U.S. Domestic Manufacturing Stocks screener surfaced 41 more companies with equally compelling tariff, supply chain and domestic production stories that could be worth your attention. It makes sense to review the U.S. Domestic Manufacturing Stocks screener. Use Simply Wall St to identify, filter and analyze the exact catalysts and narratives that matter to you so you can focus on U.S. manufacturing opportunities that best fit your own investment approach.

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Seeking Alternatives Beyond Tariff Plays

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3 US Manufacturing Stocks Better Placed For New Tariffs

Tariffs have moved from political headline to portfolio issue, with new US import duties of 10% to 12.5% affecting nearly all goods from about 60 trading partners and drawing immediate legal and international pushback. For US domestic manufacturing stocks, this mix of higher import costs, possible retaliation, and supply chain strain can create both fresh openings and new risks. This article looks at how that backdrop connects to companies in the US Domestic Manufacturing Stocks screener and highlights 3 stocks that appear positively exposed to these tariff moves.

Overview: Astec Industries designs and builds heavy equipment and systems used mainly for road building, aggregates, and related construction work, supplying everything from asphalt and concrete plants to crushers, screens, conveyors, and wood processing machines to contractors, materials producers, quarries, and public agencies worldwide.

Operations: Astec generates most of its revenue from Infrastructure Solutions at US$893.8m and Materials Solutions at US$623m, with the United States contributing about US$1.2b of sales.

Market Cap: US$1.29b

Astec Industries stands out in the new tariff regime because it manufactures its road building and materials equipment in the US, while many rivals import finished units that are now subject to 10% to 12.5% duties. Management has already modeled tariff impacts on costs, tightened supplier scrutiny, and used pricing and dual sourcing to help offset input pressures. This matters for a business where margins are still relatively low and earnings were affected by a US$30.2m one off loss. At the same time, analysts see potential for earnings growth supported by US infrastructure spending and higher margin parts and acquisitions such as TerraSource. That combination of possible tariff tailwinds, operational execution, and valuation debate is a key consideration for investors assessing Astec.

Astec Industries looks like a classic tariff era beneficiary, with US production, margin work and acquisitions pulling in the same direction. However, the real story sits in the 4 key rewards and 2 important warning signs

NasdaqGS:ASTE Earnings & Revenue History as at Jul 2026

Overview: Insteel Industries manufactures steel wire reinforcing products used to strengthen concrete in bridges, parking decks, industrial buildings, data centers, drainage systems and residential slabs, with a portfolio centered on prestressed concrete strand and engineered welded wire reinforcement sold to concrete product makers, rebar fabricators, distributors and contractors.

Operations: Insteel generates about US$707.7m of revenue from concrete reinforcing products, with roughly US$705.4m coming from the United States and around US$2.2m from foreign markets.

Market Cap: US$626m

Insteel Industries sits at the intersection of US infrastructure spending and tariff policy, which makes it particularly relevant after the latest broad import duties. The company is closely tied to domestic construction demand, with 9M 2026 sales of US$530.24m and earnings that remain positive even as net income and EPS have recently fallen. At the same time, heavy dependence on imported wire rod and exposure to Section 232 tariffs mean input costs, lead times and margins can move quickly, especially if enforcement tightens or domestic supply remains constrained. In addition, index deletions may have reduced visibility, and the combination of a P/E below the US building industry and an active buyback program suggests there is more going on beneath the surface than headline earnings alone indicate.

Insteel Industries looks like a story where falling EPS, a lower P/E than US building peers and an active buyback may be masking something investors have not fully pieced together yet, and the analysis report for Insteel Industries hints at what could be missing.

NYSE:IIIN P/E Ratio as at Jul 2026

Overview: EnerSys supplies stored energy systems for industrial customers, powering telecom networks, data centers, electric forklifts, trucks and defense equipment through lead acid and lithium based batteries, chargers and related services sold worldwide.

Operations: EnerSys generates about US$1.7b from Energy Systems, US$1.4b from Motive Power and US$665.1m from Specialty products, with total revenue of roughly US$3.8b and most sales tied to these core operating segments.

Market Cap: US$7.29b

EnerSys gives you exposure to several themes in one stock, including AI driven data center demand, electrification of forklifts and trucks, and increased focus on secure US based energy supply for defense, supported by a broad product mix and a refined lithium strategy. New US tariffs could pressure customer sentiment in the short term. However, EnerSys has already built a tariff task force, produces largely in region, and has levers in pricing, sourcing and cost cuts, including a planned US$80m of annual savings. Earnings have recently fallen and the balance sheet leans on external borrowing. Some analysts expect faster earnings growth than the wider US market, which may make the combination of valuation, buybacks and tariff exposure worth a closer look.

EnerSys looks like an earnings story that may be decoupling from headline worries about tariffs and borrowing, and the analyst forecasts for EnerSys can help you see what expectations might be missing right now.

NYSE:ENS Earnings & Revenue Growth as at Jul 2026

The three stocks covered here are only a starting point, and the full US Domestic Manufacturing Stocks screener on Simply Wall St surfaces 42 more companies with equally compelling narratives that you have not seen yet through the US Domestic Manufacturing Stocks screener. Use the Simply Wall St platform to identify and analyze the specific catalysts, risk factors and business narratives that matter most to you so you can focus on the highest conviction US manufacturing opportunities.

Take Control of Your Investment Journey

If Insteel Industries or any of these companies sound like a great opportunity, register for FREE with Simply Wall St and add your companies to a Watchlist to monitor the share price against the fair value the ideal entry point.
Once you’ve made your move, manage your holdings with our Portfolio Command Center that filters out the noise to deliver only the most critical, actionable updates.
Throughout your journey, our Community allows you to filter the best ideas from thousands of investor perspectives.
By uncovering hidden catalysts and risks early, you’ll accelerate your decision-making and stay one step ahead of the market.

Seeking Alternatives Before Everyone Else?

Fresh ideas move first, and the best entry points often pass quickly as momentum builds, prices start flying, or interest drops off. Scan under the radar for now and consider acting before conditions change.

• Spot potential turnarounds early by tracking companies in the 49 high quality undervalued stocks while sentiment is still catching up and pricing in the next phase, and aim to position before the shift is widely recognized.
• Monitor structural demand shifts by scanning the 35 power grid technology and infrastructure stocks as grids modernize and capital moves toward upgraded infrastructure, before those developments become more broadly reflected in prices.
• Target stronger balance sheets by filtering the list of solid balance sheet and fundamentals (49 results) so you focus on businesses with more flexibility if conditions change and others are caught off guard, and consider positioning ahead of those adjustments.

This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.

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Ukraine plans to build a drone manufacturing plant in the United States.

Kyiv, Ukraine – Ukrainian President Volodymyr Zelenskyy announced that his country intends to establish a drone manufacturing plant in the United States, a move aimed at strengthening defense cooperation between Kyiv and Washington and increasing production capacity to meet the needs of the Ukrainian armed forces.

Zelenskyy explained that the project is part of a broader strategy to develop Ukraine’s military industries in partnership with its allies, noting that drones have become a crucial element in modern military operations, especially given the ongoing conflict with Russia.

He added that establishing the plant will accelerate the production of advanced military technologies and facilitate the exchange of expertise with American companies, thereby enhancing Ukraine’s ability to address battlefield challenges and develop defensive and offensive systems using drones.

The announcement comes as the United States continues to provide military and logistical support to Ukraine, amid efforts to strengthen defense industry cooperation between the two countries, ensuring a sustained supply of necessary military equipment in the coming phase.

Observers believe the project reflects the growing strategic partnership between Kyiv and Washington and underscores the increasing importance of drones in modern conflicts, particularly as the Russian-Ukrainian war continues and enters a phase heavily reliant on advanced military technology.

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Latvia plans full-cycle artillery rocket manufacturing plant with up to 90 million euro US investment

Latvia has taken a significant step towards expanding its defence industry after Economics Minister Viktors Valainis signed a memorandum of understanding on the 23rd of July with a Latvian company established by US-based Native Trading to develop a full-cycle artillery rocket manufacturing facility in the country.

The investor was attracted through a joint effort by the Ministry of Economics and the Investment and Development Agency of Latvia (LIAA). According to the ministry, the memorandum is intended to facilitate cooperation, assess the conditions necessary for implementing the investment project, and promote Latvia’s sustainable economic growth, innovation, and high-value manufacturing.

The proposed facility would include the entire production cycle for artillery rockets, covering solid propellant manufacturing, explosive warhead filling, final assembly, and qualification testing. Total investment in the project is estimated at €70–90 million.

“National security depends not only on the capabilities of the armed forces but also on the country’s industrial capacity,” Valainis said.

“By developing full-cycle artillery rocket production in Latvia,

we are simultaneously strengthening national security, expanding high-value manufacturing, and creating new jobs.

Investments of this kind increase Latvia’s resilience, export capacity, and long-term economic growth.”

According to the ministry, the project will establish modern, high-value production facilities designed both to strengthen Latvia’s defence capabilities and to supply international markets.

Native Trading Chief Executive Officer Nathan Beauchamp said the company sees the project as a long-term partnership between the United States and Latvia.

“Latvia has demonstrated a clear commitment to fostering innovation, economic growth, and industrial development. Our goal is to build a long-term partnership that creates highly skilled jobs, attracts significant foreign investment, and strengthens the region’s industrial capacity.

“This project is about much more than building a manufacturing plant.

It is about creating lasting cooperation between the United States and Latvia based on trust, transparency, innovation, and a shared commitment to economic development and regional security,” Beauchamp said.

During implementation, LIAA will coordinate cooperation between the investor and relevant state institutions while providing support throughout the development process.

According to the agency, the project has already reached an advanced stage of preparation. Documentation required to establish the Latvian company is being finalised, potential production sites have been identified, and coordination with public authorities is underway. Given the project’s strategic importance, it may also qualify for Latvia’s Green Corridor mechanism, which accelerates strategically important investment projects.

LIAA Deputy Director for Investment Attraction Laura Štrovalde described the initiative as one of the most significant new investment projects in Latvia’s defence industry in recent years.

“The investment attraction efforts carried out by the Ministry of Economics and LIAA were instrumental in securing Latvia as the location for this project. The development has already reached an advanced stage, and LIAA will continue coordinating cooperation between the investor and public institutions to ensure its successful implementation,” she said.

Initial estimates suggest the project will create 150 new jobs.

Within five years of the plant becoming operational, exports are expected to reach at least 600 million euros, while private investment is projected to total at least 70 million euros.

The project is also expected to generate at least 68 million euros in tax revenue for the Latvian state budget during its first five years of operation. Construction and implementation are expected to be completed within 24 months.

The Ministry of Economics said the investment comes at a time of rapidly growing demand for defence manufacturing capacity across Europe and NATO member states, as governments continue increasing spending on defence and security.

Once completed, the facility is expected to strengthen Latvia’s position within international defence supply chains while boosting exports and creating highly skilled employment opportunities.

Read also: Britain to replace tanks with drones in Lithuania

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U.S. Manufacturing Hits $2.91 Trillion All-Time High

Article Summary

U.S. manufacturing reached a record $2.91 trillion in value added in 2024, making it the world’s eighth-largest economy, but the industry faces a critical shortage of skilled workers with nearly 3.8 million positions needing to be filled by 2033.

• $2.91 trillion in U.S. manufacturing value added in 2024, an all-time nominal record that would rank as the world’s eighth-largest economy if standalone
• 54 ISM Manufacturing PMI reading in May 2024, the strongest since May 2022, signaling broad expansion across new orders, production, and order backlogs
• $2.42 trillion in cumulative foreign direct investment in U.S. manufacturing, led by Japan ($819 billion), making manufacturing the largest FDI sector in America
• 3.8 million workers needed by 2033, with 1.9 million positions at risk of remaining unfilled without action to increase skilled workforce training
• 409,000 open manufacturing positions as of August 2025, with 65% of manufacturers citing talent attraction and retention as their top business challenge

U.S. manufacturing hit a record $2.91 trillion in 2024, and the momentum has continued: the ISM Manufacturing PMI reached 54 in May, its strongest reading since 2022. 

Factory construction spending more than doubled from 2021-2024. And, foreign companies have committed $2.42 trillion to U.S. manufacturing, more than to any other sector in the United States, according to MISUMI Americas’ The Rise of U.S. Manufacturing report.

“The investment case for American manufacturing has never been stronger — record output, a historic construction cycle, trillions in committed foreign capital. What we see with our customers every day is that the next constraint isn’t capital. It’s having enough people with the right advanced skills to run these new facilities at full capacity. The good news is that American students are already moving toward skilled trades and technical training. H.R. 9097 builds directly on that momentum by sending workers to learn from the countries — Japan, Germany, South Korea — that have spent decades perfecting advanced manufacturing training and bringing that expertise home,” says Dave Evans, president and CEO, MISUMI Americas and CEO, Fictiv.

Key takeaways:

• $2.91 trillion: U.S. manufacturing value added in 2024, an all-time nominal record. This single sector would rank as the world’s eighth-largest economy if it stood alone, ahead of France and just behind the United Kingdom. The figure reflects current, not inflation-adjusted, dollars, so part of the gain comes from manufacturers producing more goods and part comes from higher prices.
• 54 PMI: the ISM Manufacturing PMI reading for May 2026, the strongest since May 2022 and a clear signal of expansion. The index spent most of 2025 below the 50-point threshold that separates growth from contraction, making this a meaningful reversal. New orders, production, and order backlogs all expanded that month, the broadest improvement in factory activity in roughly four years.
• $235.6 billion: peak annual factory construction spending in 2024, nearly triple the roughly $81.9 billion spent in 2021. Semiconductor fabs and EV battery plants, fueled by the CHIPS Act and Inflation Reduction Act, drove the majority of that increase. The pace has since moderated to roughly $196 billion by January, though spending remains more than double pre-boom levels.
• $2.42 trillion: cumulative foreign direct investment (FDI) in U.S. manufacturing, led by Japan, Canada, and Germany. Manufacturing is now the single largest sector for inbound foreign investment in the country, representing more than 42% of all FDI in the United States. Japan alone accounts for over $819 billion of that total, more than any other country invests in any single U.S. industry.
• 2 million-plus: reshoring and FDI jobs announced since 2010, including a record 364,000 in a single year, 2022. The vast majority of recent announcements, 88% in 2024, are in high or medium-high technology manufacturing sectors such as semiconductors, electronics, and electric vehicles. Roughly 1.7 million of those announced jobs have already been filled.
• 3.8 million: additional manufacturing workers the industry will need by 2033, with 1.9 million of those positions at risk of going unfilled without action. Of that 3.8 million, roughly 2.8 million comes from workers retiring and the remainder from new growth, including jobs tied directly to the CHIPS Act, the Inflation Reduction Act, and the Infrastructure Investment and Jobs Act. More than 65% of manufacturers already cite attracting and retaining talent as their single biggest business challenge.
• 20% growth since Spring 2020: enrollment at high-vocational community colleges, a workforce already responding to the opportunity. Undergraduate certificate programs have grown for four consecutive years, evidence that students are choosing faster, skills-focused pathways into manufacturing careers. Even so, total enrollment at these institutions remains well under one million students nationwide, a fraction of the workforce the industry will need to recruit and train by 2033.
• What the data also shows is that the workforce has not yet scaled to match it. Nearly 2.8 million of the 3.8 million workers needed through 2033 comes from retiring employees, replacing the current workforce, not just expanding it. There were 409,000 open manufacturing positions as of August 2025, and 65% of manufacturers cite attracting and retaining skilled talent as their top challenge.
• Enrollment at high-vocational community colleges is up nearly 20% since Spring 2020, and undergraduate certificate programs have grown for four consecutive years. The pipeline is moving in the right direction — it simply needs to move faster and reach deeper into advanced, specialized skills that take years to build domestically but already exist abroad.

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US. solar industry advances cybersecurity as domestic manufacturing expands

The Solar Energy Industries Association (SEIA) has released a new report outlining a roadmap to strengthen cybersecurity across the US solar and energy storage industry while supporting the continued expansion of domestic manufacturing. The publication comes as the country’s solar and battery storage manufacturing capacity continues to grow, with US inverter manufacturing having nearly tripled since the end of 2024. Following the opening of a new inverter production facility in July, the United States is now tied as the world’s second-largest manufacturer of inverters.

The report addresses the growing cybersecurity challenges facing the energy sector and highlights the importance of secure technologies backed by resilient domestic supply chains. Developed in collaboration with industry and government stakeholders, it provides recommendations, best practices and resources to help companies improve cybersecurity preparedness across the solar and storage value chain.

According to SEIA, the rapid deployment of solar and battery storage systems makes cybersecurity an increasingly critical component of energy security. The association argues that strengthening domestic manufacturing and supply chain resilience will help protect critical infrastructure while reducing exposure to evolving cyber threats.

“As solar and storage continue to lead the way in adding new power capacity to the grid, cybersecurity must remain front and center,” said Tim Pawlenty, president and CEO of SEIA. “From secure and resilient systems to expanding domestic manufacturing, this report lays out the actions our industry is taking to strengthen U.S. energy security, protect critical infrastructure, and stay ahead of emerging threats.”

Among its recommendations, the report calls for expanding domestic solar and storage manufacturing through more resilient supply chains, greater transparency and trusted production capacity. It also advocates establishing consistent cybersecurity practices across the industry, promoting national guidance for distributed energy resources, and improving information sharing and coordination to strengthen threat detection and risk communication throughout the sector.

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BeOne Medicines Plans $300M NJ Expansion, Bringing US Manufacturing Investment Over $1B

Editor’s Take: Whether based in the U.S. or globally, companies continue to seek opportunities to grow their business stateside.

BeOne Medicines is announcing a $300 million expansion of its clinical- and commercial-stage manufacturing and R&D center in Hopewell, NJ. This newest tranche of money takes BeOne’s United States manufacturing investment over $1 billion.

History of BeOne in NJ

The center, at the Princeton West Innovation Campus, opened in July 2024 on an initial investment of $800 million. A new, three-story, 145,000-square-foot building will bring the total campus footprint into the neighborhood of 545,000 square feet.

Over 42 acres, the site boasts more than 1 million square feet of developable real estate earmarked for future growth.

The expansion makes the campus a fully integrated, multi-platform manufacturing site combining existing biologics and new small molecule drug production.

Growing Manufacturing Capabilities

The added drug product manufacturing and packaging operations serve to strengthen BeOne’s production and supply chain capabilities. According to the company, this in turn supports a growing hematology portfolio and pipeline.

BeOne Medicines CEO Aaron Rosenberg weighed the impact of the announcement.

“[This] reflects BeOne’s commitment to strengthening U.S. manufacturing and expanding access to innovative medicines for patients with cancer,” Rosenberg said.

Not only President Donald Trump’s tax policies, Rosenberg said, but also NJ Governor Mikie Sherrill’s support of advanced manufacturing contributed.

In particular, the “Next New Jersey Manufacturing Program,” according to Rosenberg, encourages high-quality job creation.

“Together, these efforts create an environment for long-term growth,” Rosenberg said. “We are proud to continue expanding our global footprint in support of patients.”

The newly announced BeOne facility should be operational in 2029, the company says; subsequently, U.S. headcount will number approximately 240.

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