Public Investment Management

The capacity to appraise, select, fund and deliver public investment, the machinery that turns fiscal space into assets that work.
Economic Power / Financial Strength / Fiscal Capacity & Public Finance

The capacity to appraise, select, fund and deliver public investment, the machinery that turns fiscal space into assets that work.

Indicators

  • Public investment to GDP
  • Public investment management assessment scores
  • Project cost and time overrun rates
Capability Developments

Major milestones and key developments of the capability

The Capability Development Index tracks the events that move a capability — operational use, technical breakthroughs, procurement decisions and the industrial base behind them — and places each on the record with the date it happened.

Recent developments cover the current period. Historical developments are the inflection points that produced Public Investment Management as it stands today.

GeopoliticalGovernanceSecurityTechnologyEconomy

Historical Developments

1918The Kettering Bug was the first aerial torpedo 108 years ago

An unpiloted biplane designed to fly a set distance and dive on a target; the armistice came before it was used.

1944The V-1 was the first cruise weapon in mass use 82 years ago

Some nine thousand were launched against Britain, establishing the guided one-way attack aircraft.

1960sThe Firebee flew reconnaissance over Vietnam 60 years ago

Thousands of jet-powered reconnaissance sorties established uncrewed aircraft as an operational capability rather than a target drone.

1982Israeli reconnaissance drones proved the concept in combat 44 years ago

Uncrewed aircraft used for decoy and reconnaissance over the Bekaa Valley helped destroy an integrated air defence network.

1983 onwardGPS became available for civil use 43 years ago

Satellite navigation gave uncrewed aircraft the position fix that made autonomous routing practical.

2001Armed Predator strikes began 25 years ago

The first missile strikes from a remotely piloted aircraft opened two decades of persistent surveillance and strike operations.

2013Commercial quadcopters made drones universal 13 years ago

Mass-market airframes put aerial imaging in general use and gave militaries a supply chain they did not have to build.

2020The Nagorno-Karabakh war demonstrated cheap air power 6 years ago

Loitering munitions and armed drones destroyed armoured formations, prompting a broad reassessment of ground force vulnerability.

2020sDrone swarms became a doctrinal requirement this decade

Autonomy shifted from a research topic to a procurement category, with allied forces specifying formations rather than individual aircraft.

2022Ukraine industrialised the attack drone 4 years ago

Small FPV aircraft costing a few hundred dollars became the dominant cause of vehicle losses on both sides, inverting the economics of armour.

Recent Developments

July 2026US Transportation Command solicited autonomous cargo drone boats last month

A solicitation closing 6 July sought to place autonomous surface vessels into global military supply chains, extending autonomy from strike into logistics.

July 2026RIMPAC 2026 ran 35 uncrewed experiments last month

Exercises covered uncrewed vessels, autonomous logistics and collaborative sensing, moving allied navies toward integrated uncrewed operations.

July 2026Australia, the UK and the US tested allied swarms together last month

The Army Warfighting Experiment 2026 focused on large groups of drones operating as one formation across three national forces.

July 2026The US Air Force ran the Crucible swarm trials last month

Game of Drones at Edwards Air Force Base required swarms of at least four aircraft and sought end-to-end autonomous completion of reconnaissance and targeting missions.

The Pentagon set the swarm threshold
July 2026CENTCOM made the first combat use of maritime strike drones last month

Three Corsair one-way attack surface vessels were used against a facility at Bandar Abbas, the first operational employment of the class.

Uncrewed surface vessels moved from trials to strike
February 2026Fibre-optic control spread across the front 6 months ago

Spooled fibre links, immune to jamming, moved from improvisation to standard fit, and a universal ground control station for them entered service.

Early 2026Ukrainian interceptors reached 1,000 units a day 6 months ago

Interceptor production scaled to roughly a thousand aircraft daily; in February they accounted for around 70% of Shahed intercepts in the Kyiv region.

Wild Hornets launched an interceptor from a sea drone
2026 to dateUkraine approved a record 413 new drone systems this year

Approvals ran well ahead of previous years against a stated national target of more than seven million drones produced during 2026.

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