DEFAERO Daily Pod [Dec 15, 25] Week in Review & Byron Callan’s Week Ahead

·32 min·3 clips

Analyst Byron Callan joins for the last show of 2025 to preview the week ahead and recap a pivotal year in defense.

This episode of the Defense & Aerospace Report Look Ahead podcast features host Vago Muradian and guest Byron Callan of Capital Alpha Partners for a year-end review and preview. The conversation begins with the National Defense Authorization Act, noting an $8 billion increase to about $900 billion, with funding shifts toward naval ship construction, THAAD/Patriot interceptors, and Space Development Agency tracking layers. Callan expresses concern about potential government shutdowns due to appropriation delays. The discussion moves to Navy shipbuilding, where Callan reveals an objective to have a new U.S.-designed frigate in the water by 2028, mentioning possible collaboration with Korean shipyards like Hanwha and Hyundai. He references the Liberty Ship program from World War II as a historical analogy for rapid production. Callan then recaps 2025's major stories, including the $150 billion reconciliation bill for defense, Germany removing its debt brake to boost spending, and acquisition reforms. He notes the openness of capital markets for defense startups like AeroVironment and Kratos, contrasting with past ESG hesitations. Looking to 2026, Callan identifies geopolitical issues such as Venezuela, the Ukraine war's innovation pace, and midterm elections impacting defense policy. He also predicts potential corporate restructuring in the defense sector. The episode concludes with a week-ahead preview of events like Atlantic Council and CSIS hearings, and well-wishes for the holidays.

As heard by us

A grounded year-end look at defense policy, shipbuilding capacity, and the Navy's push toward 2026.

Muradian's last 2025 show with Byron Callan frames a year-end defense discussion around the National Defense Authorization Act, its $8 billion increase, and the larger question of whether urgency can turn into execution.

Read the full review in PlayNext →

Why you'd press play

You get a brisk year-end defense-policy conversation, from an $8 billion NDAA increase to the push for a new Navy frigate in the water by 2028.

Read the full recommendation in PlayNext →

Listen to the show on

Apple Podcasts Spotify

Play clips from this episode More from Defense & Aerospace Report