"Beloved" is the official party line in meanings of this name. Can't say I've ever seen anything relating the name to the military or to leadership.
Another name site (20,000 Names, or some such -- nicely-done site but not the equal of Mike's here) gives the meaning of David as "favorite". Can't say I've ever seen that elsewhere, tho, so no idea what legitimacy it carries.
Actually, some sources say that David is actually a variant of the Celtic name Daividh (day-vit), whose ancient meaning is thought to be "curmudgeonly beer-swilling babe magnet".