Global Military Drone Market Projected To Reach $26 Billion By 2028

FinancialNewsMedia.com News Commentary

PALM BEACH, Fla., Feb. 23, 2023 /PRNewswire/ -- The Military and Government drone market has been rapidly expanding for the last several years and are expected to continue to grow at a substantial pace in the years to come. A report from Vantage Market Research projected that the Global Military Drone Market is projected to reach a value of USD 26.0 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 11.7% over the forecast period. The report said: "Military Drones can quickly search vast areas, identify a person in need of assistance based on their thermal signature, assess their condition and surroundings with high-definition video, and communicate in real-time to ground resources the victim's location, ground accessibility issues, and other information that is crucial to ground resource assets trying to reach victims. The market for Military Drones is anticipated to develop because of this factor. Due to an increase in the military budget and a rise in demand for better surveillance technologies, the market for Military Drones has expanded globally… Additionally, the factor anticipated to present growth prospects during the forecast period is defense modernization. The market for Military Drones is anticipated to rise as more nations try to bolster their armed forces and defense. Military UAVs are primarily used for ISR (intelligence, surveillance, and reconnaissance) purposes. Military UAVs are currently being developed for various tasks, including electronic attack (EA), strike missions, suppression/destruction of enemy air defenses (SEAD), network nodes, communication relays, and combat search and rescue." Active companies in the markets this week include: Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO), The Boeing Company (NYSE: BA), Raytheon Technologies' (NYSE: RTX), Northrop Grumman Corporation (NYSE: NOC), Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS).

Vantage Market Research continued: "Fixed wing segments dominate the largest share in the market. Fixed-wing drones lift off from the ground using their wings, just like an airplane. They need engines with forwarding propulsion and wings to provide the necessary vertical lift for flight. Rotor-wing drones cannot fly as far as fixed-wing UAVs. Their payloads, endurance ranges, and applications make them stand out the most. Based on Range, the market is segmented as Visual Line of Sight (VLOS), Extended Visual Line of Sight (EVLOS), Beyond and Line of Sight (BLOS). The VLOS segment is anticipated to grow at the highest rate during the forecast period. Because more government applications, like those for traffic monitoring, firefighting, and disaster management, are using VLOS drones. Whether drones are used for business or recreational purposes, regulatory authorities are implementing various VLOS restrictions that will help the market expand. However, the growing popularity of drones that operate beyond visual line of sight (BVLOS), which increases efficiency and hasten the data collecting process, may restrain the growth of the VLOS market."

Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) BREAKING NEWS: Vermeer Partners with Draganfly to Offer Enhanced Mission Capabilities in GPS-Denied and Spoofed Environments for the Defense Industry - Draganfly Inc. (FSE: 3U8) ("Draganfly" or the "Company"), an award-winning, industry-leading drone solutions and systems developer, is pleased to announce that Vermeer will integrate its VPS (visual positioning system) Payload with Draganfly's Commander 3XL.

This partnership will enable Draganfly to collaborate with Vermeer's military and government clients and create solutions using the Company's innovative drone technology.

Vermeer enhances military and government mission capabilities by supplying United States Department of Defense (DoD) with its mixed reality & AI-enabled tool. Vermeer provides an intuitive and sophisticated solution for intelligence, surveillance, and reconnaissance mission planning. Vermeer's platform is being integrated with the DoD to enable customers to previsualize drone missions in a virtual space and eliminate friction while working with robotic systems.

Vermeer is the first AR and AI-enabled tool that allows an operator to easily manipulate robotic systems, such as drones, using intuitive gestures and visualization, in the field, as well as to visualize sensory data in a purely synthetic environment.

Draganfly's Commander 3XL drone will be integrated with Vermeer's VPS as part of its modular unmanned aerial vehicle (UAV) platform. VPS technology enables aerial platforms to determine their location in contested, spoofed, and GPS-denied environments. This system compares the video feed from the VPS payload with pre-mapped 3D terrain stored locally for unparalleled navigation capabilities.

"Draganfly's technology will provide a seamless solution that keeps pilots flying even in the most difficult or remote areas during critical missions," said Chris Pickett, Director of Business Development at Vermeer. "We are extremely excited about this partnership which will provide a full drone solution using vision-based, global navigation for GPS-denied and spoofed environments for military and government contracts."

"Our team designed and manufactured the Commander 3XL drone to ensure it was compatible with various interchangeable payloads. Integrating Vermeer's VPS technology with the Commander 3XL will help improve military and defense intelligence, surveillance, and reconnaissance missions," said Cameron Chell, President, and CEO of Draganfly. "We are thrilled to partner with Vermeer to create solutions that help defense agencies protect life, mitigate risk, and reduce liability." CONTINUED… Read this full press release and more news for Draganfly at: https://investor.draganfly.com/press-release/

Other recent developments in the markets of note include

The U.S. Air Force Life Cycle Management Center recently contracted Raytheon Technologies' (NYSE: RTX) Collins Aerospace business to continue producing new, advanced propellers for C-130 aircraft. The $135M contract will allow Collins to manufacture and support new NP2000 propeller systems, including the electronic control system and spares.

"Reliability and maintainability are important to our customers," said Quinlan Lyte, senior director for propeller systems at Collins Aerospace. "We are retrofitting the Air Force's fleet to improve performance, increase flight safety and lower operating cost."

The NP2000 propeller system is designed to modernize the C-130 Hercules and E-2 Hawkeye. The composite blades can be removed individually without the need to remove the entire system, decreasing maintenance time and extending the lifecycle of aircraft fleets. 

The board of directors of Northrop Grumman Corporation (NYSE: NOC) recently declared a quarterly dividend of $1.73 per share on Northrop Grumman common stock, payable March 15, 2023, to shareholders of record as of the close of business Feb. 27, 2023.

Northrop Grumman is a leading global aerospace and defense technology company. Our pioneering solutions equip our customers with the capabilities they need to connect and protect the world, and push the boundaries of human exploration across the universe. Driven by a shared purpose to solve our customers' toughest problems, our 95,000 employees define possible every day.

The Boeing Company (NYSE: BA) recently announced that it has recorded fourth-quarter revenue of $20.0 billion, GAAP loss per share of ($1.06), and core loss per share (non-GAAP)* of ($1.75) (Table 1). Boeing also generated $3.5 billion of operating cash flow and $3.1 billion of free cash flow (non-GAAP). Results improved on commercial volume and performance.

"We had a solid fourth quarter, and 2022 proved to be an important year in our recovery," said Dave Calhoun, Boeing President and Chief Executive Officer. "Demand across our portfolio is strong, and we remain focused on driving stability in our operations and within the supply chain to meet our commitments in 2023 and beyond. We are investing in our business, innovating and prioritizing safety, quality and transparency in all that we do. While challenges remain, we are well positioned and are on the right path to restoring our operational and financial strength."

Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a leading National Security Solutions provider, recently released the first of its new OpenEdge™ products, the industry's first open standards-based and software-enabled satellite terminals. Part of Kratos' OpenSpace^® Platform, OpenEdge is the first generally available family of satellite network edge devices employing a modern, software-defined approach for a range of communications, observation, sensing and TT&C uses. OpenEdge is the next step in Kratos' ongoing effort to support the mainstreaming of satellite services by enabling satellite ground systems to operate seamlessly with today's wireless and terrestrial networks.

Today's satellite terminals consist of purpose-built hardware components that are limited to performing a dedicated function, for example a satellite modem performing modulation/demodulation functions. OpenEdge uses a different model for operating at the edge, one that employs standards already widely adopted across the larger global telecommunications industry to expand terminal functions and make them more flexible. These standards are what enable mobile devices such as smartphones to support roaming, use cloud-based functions, interoperate with other networks and do much more. While satellites present a more complex technology challenge, the goal of OpenSpace and OpenEdge is to help satellite operators make their services as mainstream as cellular communications and to capitalize on new services such as 5G.

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