FinancialNewsMedia.com News Commentary

PALM BEACH, Fla., Feb. 28, 2023 /PRNewswire/ -- Drones have become ubiquitous around the world and in a multitude for markets. Consumer, government and especially in the military market. Military drone refers to unmanned aerial vehicles that are specifically used for military purposes such as border surveillance, battle damage management, combat operations, communication, delivery, and anti-terrorism weaponry. The main types of military drones are fixed-wing, rotary-wing, and hybrid. A fixed-wing drone is a plane that doesn't have a human pilot on board. Fixed-wing UAVs can be commanded remotely by a human or autonomously by onboard systems. The different types of drones include MALE, HALE, TUAV, UCAV, SUAV and involve various technologies such as remotely operated, semi-autonomous, autonomous. It is used in search and rescue, national defense, military exercises, and others. A recent report from The Business Research Company projected that the global military drones market size will grow from $14.54 billion in 2022 to $15.88 billion in 2023 at a compound annual growth rate (CAGR) of 9.2%. They added that the global military drones market size is expected to grow to $20.64 billion in 2027 at a CAGR of 6.8%. Active companies in the markets this week include: Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO), Teledyne Technologies Incorporated (NYSE: TDY), AeroVironment, Inc. (NASDAQ: AVAV), Honeywell (NASDAQ: HON), Lockheed Martin (NYSE: LMT).