Military Drone Industry Booming as Revenues Expected to Reach $17 Billion by 2027

PALM BEACH, Fla., June 21, 2023 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - The Military Drone Market is positioned to continue rapid growth over the several years to come. The earliest UAVs were known as remotely piloted vehicles (RPVs) or drones. They were small radio-controlled aircraft first used during World War II for target training for fighters and antiaircraft guns. Today, all major military powers and even some militia groups employ battlefield surveillance UAVs to extend the view of the ground and naval forces and to enhance the reach and accuracy of their supporting fire. Military drones equipped with sensors, transmitters, and weapons can be guided autonomously, by remote control, or both. They are used for strategic and combat zone reconnaissance and can also designate targets for precision-guided munitions or directly deploy them. This report offers insights into market trends, drivers, challenges, and opportunities in the military drone industry. A report from MarketsAndMarkets projects that the Global Military Drone Market Size was valued at $12,000 Million in 2022 and is estimated to grow from $12,800 Million in 2023 to $17,000 Million by 2027 at a CAGR (Compound Annual Growth Rate) of 7.3%. The report said: "The government funding for military drones is increasing to enhance the efficiency of military operations. This will boost demand and increase the production of military drones." Active companies in the markets this week include: Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO), Lockheed Martin (NYSE: LMT), Boeing (NYSE: BA), Ambarella, Inc. (NASDAQ: AMBA), NVIDIA Corporation (NASDAQ: NVDA).

MarketsAndMarkets continued: "Various new military applications are being uncovered wherein UAVs can be used. One of these applications involves the use of UAVs for the delivery of military cargo. Drones can be used to resupply soldiers on the battlefield. The idea of using UAVs for cargo delivery in the military sector came from the commercial sector, where drones are being used to deliver products to customers by companies such as Amazon. Currently, a major portion of military supplies is transported through road convoys, making the convoys vulnerable to enemy attacks. UAVs, on the other hand, take aerial routes, which can be changed so that the risks of enemy attacks on convoys can be reduced. The use of UAVs for military cargo delivery also eliminates high-risk situations for soldiers in convoys. Deliveries using UAVs will be faster and safer as compared to traditional road convoys. Fixed-wing drones make use of wings to move upward from the ground during take-off, just like airplanes. They require engines to offer them a forward thrust, while wings offer them the required vertical lift to fly. Fixed-wing UAVs can fly longer than rotary-wing drones. They are most distinct in terms of their payloads, endurance ranges, and applications. The fixed-wing segment is projected to grow from USD 11,310 million in 2021 to USD 15,940 million by 2027, at a CAGR of 7.1% during the forecast period."

Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) BREAKING NEWS:  Draganfly Awarded Multi-Year Contract to Train Drone Pilots by Ukraine's Ministry of Interior - Drone training to be provided to National Guard, National Police, State Border Guard, Special Forces Security, and Emergency Services  - Draganfly Inc. (FSE: 3U8) ("Draganfly" or the "Company"), an award-winning, industry-leading drone solutions, and systems developer is pleased to announce it has entered into an agreement with HEAL-Corp, a Non-Government Organization ("NGO"), and the Ukrainian National Academy of Internal Affairs (the "National Academy") regarding the development of a training program on the use of drones and their countermeasure systems.

Working in conjunction with the National Academy, Draganfly will implement a designed curriculum to be used within the training program. Recently, HEAL-Corp delivered Trauma Resuscitation and Evacuation Casualty Care training to the Ministry of Internal Affairs, showcasing their commitment to assisting in the teaming effort.

Drone training on Draganfly systems will be provided to new Ministry of Internal Affairs pilots each year, including but not limited to National Police, National Guard, State Border Guard, select Armed Forces, Special Forces Security, and Emergency Services.

The Ministry of Internal Affairs is a governmental agency responsible for maintaining law enforcement and ensuring public security throughout Ukraine. It is one of the essential ministries within the Ukrainian government that holds significant responsibility in safeguarding the well-being and order of the nation.

The Ministry of Internal Affairs has a broad range of responsibilities, including maintaining public order and safety, combating crime, ensuring border security, protecting human rights, and overseeing the activities of law enforcement agencies. Under the ministry's jurisdiction, several central agencies including the National Police of Ukraine, the State Emergency Service of Ukraine, the State Border Guard Service of Ukraine, and the National Guard of Ukraine, work together in upholding public safety and security across the country.

"Draganfly has been providing drone systems and drone pilot training since the beginning of the war in Ukraine," said  Volodymyr Cherniei, Rector of the National Academy, Police General of the first rank. "Their essential training will help to solidify and scale the essential drone pilot training required to increase operational effectiveness across the Ministry's jurisdictions." The General further stated that: "HEAL-Corp has provided much critical assistance to the people of Ukraine in providing life-saving medical training, humanitarian assistance, and medical resources. HEAL-Corp has stood with Ukraine from the beginning of the full-scale invasion. We are pleased to select the Draganfly and Heal-Corp teams for this important contract."

"The use of drones for medical purposes and multiple other mission types during conflict has increasingly proven to be invaluable," says Larry Mynar CEO of HEAL-Corp. "Critical for HEAL-Corp, is the delivery of blood products, diagnostics, therapeutic and medical supplies to the frontlines in a time-sensitive manner to decrease morbidity and mortality." CONTINUED… Read this full press release and more news for Draganfly at:  https://www.financialnewsmedia.com/news-dpro/

Other recent developments in the markets of note include:

Lockheed Martin (NYSE: LMT) recently announced that it is on the team that has won a contract from NASA to develop and demonstrate a human landing system for the Artemis program under the agency's Human Landing System program. The goal of the program is to rapidly develop a sustainable human lunar lander and perform a crewed demonstration flight to the lunar surface for Artemis V.

Led by Blue Origin, the National Team that will develop and build the lander also includes Draper, Boeing, Astrobotic and Honeybee Robotics.

"Congratulations to Blue Origin on this achievement. Lockheed Martin is excited to be part of Blue Origin's National team and we are looking forward to building humanity's first Cislunar Transporter," said Kirk Shireman, vice president of Lunar Exploration Campaigns at Lockheed Martin Space. "We value Blue Origin's thoughtful approach to developing human-rated flight systems and are thrilled to be part of a diverse team that combines innovation, deep experience and a strong industrial base."

Boeing [NYSE: BA] recently announced that it has increased renewable-energy use in its factories, purchased more sustainable aviation fuel for commercial operations and continues significant investments in aerospace technologies to reduce fuel use, emissions and noise. These and other accomplishments are detailed in Boeing's 2023 Sustainability Report, released today to share the company's vision and path toward a sustainable aerospace future.

Titled "Sustainable Aerospace Together," this report provides an annual update on company efforts to advance environmental stewardship, human development and inclusion. This includes addressing the company's sustainability goals on employee safety and well-being; global aerospace safety; community engagement; and equity, diversity and inclusion, in addition to sustainable operations and clean technology innovation.

Ambarella, Inc. (NASDAQ: AMBA) recently announced financial results for its first quarter of fiscal year 2024 ended April 30, 2023.  Revenue for the first quarter of fiscal 2024 was $62.1 million, down 31% from $90.3 million in the same period in fiscal 2023.  Gross margin under U.S. generally accepted accounting principles (GAAP) for the first quarter of fiscal 2024 was 60.4%, compared with 62.6% for the same period in fiscal 2023.  GAAP net loss for the first quarter of fiscal 2024 was $35.9 million, or loss per diluted ordinary share of $0.91, compared with GAAP net loss of $10.8 million, or loss per diluted ordinary share of $0.29, for the same period in fiscal 2023.

"We are pleased to announce our first CV3 platform win through our partnership with Continental, including both the CV3 SoC as well as our autonomous driving software stack IP, in a L4 commercial vehicle application," said Fermi Wang, President and CEO. "The cyclical headwinds persist and continue to pressure our financial results, but we are taking our inference AI strategy to the next level with our R&D investment focused on the build-out of our CV3 platform as well as new derivatives of our 3^rd generation AI technology. For example, during Q1 we introduced and demonstrated CV72, a 5nm derivative of our CV3 SoC family, with strong interest and design activity from both IoT and automotive applications."

NVIDIA Corporation (NASDAQ:NVDA) and SoftBank Corp. recently announced they are collaborating on a pioneering platform for generative AI and 5G/6G applications that is based on the NVIDIA GH200 Grace Hopper™ Superchip and which SoftBank plans to roll out at new, distributed AI data centers across Japan.

Paving the way for the rapid, worldwide deployment of generative AI applications and services, SoftBank will build data centers that can, in collaboration with NVIDIA, host generative AI and wireless applications on a multi-tenant common server platform, which reduces costs and is more energy efficient.

The platform will use the new NVIDIA MGX™ reference architecture with Arm Neoverse-based GH200 Superchips and is expected to improve performance, scalability and resource utilization of application workloads.

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