The squeeze shows in the filings. Kratos's Unmanned Systems segment runs roughly 17% gross margin — well below its other franchises — and consolidated operating margin sits around 1.3%. AeroVironment's gross margin compressed from ~38% to ~24% post-BlueHalo, recovered to ~30% adjusted for FY26, but that's a blended-portfolio figure lifted by counter-drone and loitering-munition lines. The one-way-attack drone economics aren't separately disclosed. Portfolio recovery is real; airframe-level proof is absent. Demand grows. Margins don't follow.