Military Drone Market Could Exceed $20 Billion by 2026 as Technology Advances

Financialnewsmedia.com News Commentary

PALM BEACH, Florida, May 13, 2020 /PRNewswire/ -- The military drone market is projected to reach new highs in the coming years. A recent report from Fortune Business Insights projected that the Military Drone Market should reach USD $21.76 billion by 2026, at a CAGR of 12.4% during the forecast period. The reports said: "Military drones are used for intelligence, surveillance, reconnaissance, and target acquisition during battlefield operations. The market is projected to witness significant growth in the defense sector, owing to its high surveillance capability. The military drone market share is driven by factors such as battle damage management, combat operations, and delivery and transportation services across the globe. Militaries across the globe are procuring drones to support their combat missions. Growing demand to provide real-time images is also a propelling battle damage management application.    Active tech companies in the markets this week include Plymouth Rock Technologies Inc. (CSE: PRT) (OTCQB: PLRTF), FLIR Systems, Inc. (NASDAQ: FLIR), The Boeing Company (NYSE: BA), Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), Raytheon Technologies Corporation (NYSE: RTX).

'Advanced defense technologies, such as artificial intelligence, 3D printing, multi-sensor data fusion for UAV navigation, cloud computing-based services for military UAVs, and technological advancements in drone payloads are expected to support the market growth during the forecast period. Among these military drone/unmanned aerial vehicle (UAV) market trends, cloud computing-based services are broadly adopted by the manufacturers. These UAVs are controlled by using a specific flight plan that is defined through a waypoint in the database. Moreover, product innovations such as spy drone, mid-air refueling of drone, and anti-UAV defense system are the major upcoming trends in the military drone market.'

Plymouth Rock Technologies Inc. (CSE: PRT) (OTCQB: PLRTF)  BREAKING NEWS:  DOUGLAS SMITH NAMED CHAIRMAN OF PLYMOUTH ROCK TECHNOLOGIES  Plymouth Rock Technologies ("Plymouth Rock", "PRT", or the "Company"), a leader in the development of cutting edge threat detection technologies, announced today that Douglas Smith, a member of the PRT's board of directors, has been named Chairman.

Douglas Smith is the former Assistant Secretary for the U.S. Department of Homeland Security.  Douglas is currently the Managing Partner of Kent Strategies and brings over two decades of international experience in business development, communications, coalition building, public policy, and creating and managing public-private partnerships among Federal, State and local governments, and private industry. He has managed large-scale special projects and initiatives both within and outside of government.  Douglas is a frequent public speaker both domestically and internationally and regularly appears on national television as an expert on national security and managing crisis.

"Douglas's extensive past experience on numerous boards and proven leadership will provide key strategic guidance and direction to the board and executive team of Plymouth Rock Technologies at this critical time in our company's growth cycle," commented Dana Wheeler, CEO & President of Plymouth Rock Technologies. Read this and more news for PRT at:  https://www.plyrotech.com/news/ 

Other recent developments in the tech industry include:

FLIR Systems, Inc. (NASDAQ: FLIR) recently announced it has won an additional $20.6 million contract from the U.S. Army to deliver its FLIR Black Hornet® 3 Personal Reconnaissance Systems (PRS). The advanced nano-unmanned aerial vehicles (UAVs) will support platoon- and small unit-level surveillance and reconnaissance capabilities as part of the Army's Soldier Borne Sensor (SBS) program.

Extremely light, nearly silent, and with a flight time up to 25 minutes, the combat-proven, pocket-sized FLIR Black Hornet transmits live video and HD still images back to the operator. Its information feed provides soldiers with immediate covert situational awareness to help them perform missions more effectively. FLIR has delivered more than 12,000 Black Hornet nano-UAVs to defense and security forces worldwide.

Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) recently announced that it has received a $14 million Command, Control, Communication, Computing, Combat, Intelligence, Surveillance and Reconnaissance (C5ISR) System award. Kratos is a leading provider of C5ISR Systems and Solutions in support of Unmanned Aerial Drone, Missile, Radar, Missile Defense, High Powered Directed Energy and Chemical, Biological, Radiation, Nuclear and Explosive (CBRNE) Detection Programs for National Security Missions. The C5ISR systems under this contract award will be produced in secure Kratos manufacturing facilities. Due to competitive, customer related and other considerations, no additional information will be provided related to this contract award.

Tom Mills, President of Kratos C5ISR Division, said, "Kratos is the recognized provider of rapidly developed and fielded affordable products and systems. Kratos C5ISR Division is focused on supporting our customers in addressing the recapitalization of strategic weapon systems to address increasing peer and near peer threats to the United States and its allies. All of Kratos is proud to support this customer in this mission critical priority national related security program."

Raytheon Technologies Corporation (NYSE: RTX) News: The U.S. Army Contracting Command has selected Raytheon Intelligence & Space, a business of Raytheon Technologies, to train Afghanistan Air Force pilots under a three-year contract valued up to $145 million.

Raytheon will conduct initial flight training for the U.S. Army's Program Executive Office for Simulation, Training and Instrumentation. The Afghanistan Air Force students will go through flight school in third-party nations in Europe and the Middle East. Raytheon will provide tailored training for the Afghanistan Air Force pilots, including classroom, fixed-wing and rotary aircraft instruction.

"Raytheon training experts help the Afghanistan Air Force develop a pipeline of skilled flyers and officers," said Bob Williams, vice president of Global Training Solutions at Raytheon Intelligence & Space. "Our program uses the latest training techniques, and a focus on individual mentorship to produce well-rounded officers that will help create a secure future for Afghanistan."

The Boeing Company (NYSE: BA) recently completed another set of COVID-19 airlift missions, deploying three Dreamlifter aircraft to transport more than 150,000 protective eye goggles and face shields from China to the United States. Boeing worked in partnership with the Medical University of South Carolina (MUSC) to deliver the personal protective equipment (PPE) to frontline health care professionals in the MUSC system.

"Today's delivery puts essential personal protective equipment in the hands of South Carolina's frontline health care professionals and helps MUSC further support the community during the COVID-19 pandemic," said Boeing President and CEO Dave Calhoun. "I am incredibly proud of our Boeing team members throughout the world for their work to help stop the spread of COVID-19 and thankful for our government and industry partners that have joined us in the pandemic response."

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