Defense Review has an article on recent developments in small arms technologies.The polymer cases seem to be most important to me (they have a lot of the advantages of caseless ammo with none of the drawbacks) but all of these things are quite important if they work as advertised.
Note that this is the sort of nonsexy day to day stuff that is EXTREEMLY important but often gets overlooked in an era of supersonic aircraft guided missles and powerpoint presentation about networking.
UPDATE: Of course this not at all down to earth story is nevertheless cool. I'd mentioned it earlier but it looks like Gyrodyne is being taken seriously for their gyrocopter version of the C-130!
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