Military Drone Market Size Projected to Skyrocket as Demand Jumps on Heels of Global Uncertainty
PALM BEACH, Fla., Nov. 22, 2024 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Military drone technology has undergone significant advancements in recent years, with key developments in stealth technology, artificial intelligence (AI) and autonomous flight, and swarming technology. Stealth drones are designed to evade enemy radar detection, making them virtually invisible during reconnaissance and combat missions. These drones are constructed with special materials and shapes that reduce their radar cross-section, rendering them difficult to detect even by advanced radar systems. Numerous industry reports are very optimistic on the market’s future. In fact, a report from Fortune Business Insights projected that: “The military drone market size was valued USD 14.14 billion in 2023 and is projected to grow from USD 16.07 billion in 2024 to USD 47.16 billion by 2032, exhibiting a CAGR of 13.15% during the forecast period. North America dominated the military drone market with a market share of 36.1% in 2023. Moreover, the military drone market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 10.71 billion by 2030, driven by an increasing R&D investment by industry players such as Sikorsky, Boeing, among other regional players.” Active Tech Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), Northrop Grumman Corporation (NYSE: NOC), Safe Pro Group Inc. (NASDAQ: SPAI), EHang Holdings Limited (NASDAQ: EH), AeroVironment, Inc. (NASDAQ: AVAV).
The Fortune Business Insights report continued: “Additionally, AI has revolutionized military drone technology by enabling autonomous decision-making. Drones equipped with AI algorithms can process vast amounts of data in real-time, making split-second decisions without human intervention. Swarming technology allows multiple drones to operate collaboratively as a coordinated unit. This innovation has significant implications for military tactics and strategies. The military drone market is expected to grow significantly in the coming years, driven by increasing military spending and the growing procurement of military drones by defense forces. The integration of artificial intelligence and machine learning algorithms into military drones is improving autonomous flight capabilities, target recognition, and mission planning, leading to more effective and efficient operations.”
ZenaTech Inc.’s (NASDAQ:ZENA) Signs Blue UAS and NDAA Compliant Supply Chain Partners to Sell to US Defense Branches and NATO Forces – ZenaTech, a technology company specializing in AI (Artificial Intelligence) drone solutions and enterprise SaaS (Software-as-a-Service) solutions, announces that it has signed Blue Unmanned Aerial Systems (UAS) and US National Defense Authorization Act (NDAA) compliant partner agreements for its supply chain in order to sell its ZenaDrone 1000 AI drone solutions to US Defense branches and to NATO forces. Through its subsidiary ZenaDrone, the Company recently participated in a Taiwan Trade Mission organized by the Arizona Commerce Authority (ACA) that directly resulted in these partnerships.
ZenaTech can now confirm that all ZenaDrone’s electrical components and supply chain will comply with NDAA standards. ZenaDrone previously completed paid trials with both the US Air Force and US Naval Research using its drones for carrying critical cargo — such as blood — in the field.
“Our strategic relationship with the Arizona Commerce Authority has resulted in these important NDAA-compliant partners needed in order to qualify for the Blue UAS list. The next step is to complete the Green UAS list process, then we will be ready for the Blue UAS certification to be able to execute our plans to do more business with military organizations in the US, NATO and beyond,” said CEO Shaun Passley, Ph.D.
NDAA compliance refers to adhering to the provisions outlined in the National Defense Authorization Act, which is a set of US federal laws passed every year that specify the budget and expenditures for the Department of Defense (DoD) and address growing cybersecurity concerns. For a product to be NDAA compliant, it must not be produced by a set list of Chinese manufacturers. This provision extends to products, chipsets, cameras, displays, and other technology used.
The Blue UAS program is a stringent government approved supplier list of drone companies that wish to do business with the US DoD. Suppliers must meet strict NDAA cyber security and supply chain sourcing requirements. The Green UAS program is essential, the same as the blue UAS program, only with a more streamlined and faster process and without the specifications on country of origin for manufacturing.
The ACA is a longstanding ZenaDrone partner and Arizona will be the site for DoD demonstrations. The company plans to host these demonstrations in the Arizona desert near the ZenaDrone offices in Phoenix. – Read this full release by visiting: https://www.financialnewsmedia.com/news-zena/
Additional ZenaTech Inc. Developments – ZENA Announced Revenue Increase of 15% for the Third Quarter Ended September 30th, 2024 and Provides Corporate Highlights – ZenaTech also announced financial results for the third quarter ended September 30, 2024, and provides highlights from the quarter. Revenue increased by $166,886, representing a 15% increase for the nine months ended September 30, 2024, as compared to the same period of 2023. For more information, please refer to the Company’s Form 6-K filed on November 14, 2024, which can be accessed on the SEC website
Other recent developments in the technology industry include:
Northrop Grumman Corporation (NYSE: NOC) announced this summer the design and construction of the Series Hybrid Electric Propulsion AiRcraft Demonstration (SHEPARD) vehicle. The uncrewed air system developed for DARPA recently received its official X-plane designation of XRQ-73.
Built in collaboration with Scaled Composites, a Northrop Grumman subsidiary, the XRQ-73 SHEPARD is a DARPA “X-prime” program leveraging hybrid electric architecture and component technologies to quickly mature a new mission-focused aircraft design with propulsion architecture and power class for the Department of Defense.
Safe Pro Group Inc. (NASDAQ: SPAI), a leading provider of artificial intelligence (AI) solutions specializing in drone imagery processing, recently announced that on November 19, 2024 it was been awarded its first patent from the United States Patent and Trademark Office (“USPTO”), for its groundbreaking technology that identifies, locates and maps explosives through its Artificial intelligence (“AI”)-powered SpotlightAI™ drone image analysis and reporting software platform. This novel technology has already proven life-changing, enabling the detection, location, and mapping of explosives to create safer environments for potentially millions worldwide.
The newly issued patent, US Patent No. 12,146,729 includes all 21 claims made in the Company’s original patent application entitled, “Systems and Methods for Detecting and Identifying Explosives.” These claims cover autonomous detection, identification, and labeling of explosives in orthomosaic images using AI processing of drone imagery. Valid until 2043, the patent captures the groundbreaking nature of SpotlightAI™ and its ability to transform fields ranging from humanitarian demining, agriculture, to national defense and reconstruction. The Company also previously filed for global patent protection with the World Intellectual Property Organization (WIPO) under the Patent Cooperation Treaty (“PCT”) which covers patent protection rights for 157 Contracting States including members of the EU, Asia, Latin and South America, Africa and the Middle East.
AeroVironment, Inc. (NASDAQ: AVAV) and BlueHalo LLC (“BlueHalo”) recently announced the execution of a definitive agreement under which AV will acquire BlueHalo in an all-stock transaction with an enterprise value of approximately $4.1 billion, creating a more diversified global leader in all-domain defense technologies. The combined company will bring together complementary capabilities to offer a comprehensive portfolio of high-growth franchises, powered by cutting-edge technology and focused on addressing the most important priorities and needs of our nation and allies around the globe.
“For over 50 years, AV has pioneered innovative solutions on the battlefield, and today we are poised to usher in the next era of defense technology through our combination with BlueHalo,” said Wahid Nawabi, AV chairman, president and chief executive officer. “BlueHalo not only brings key franchises and complementary capabilities, but also a wealth of technologies, diverse customers and exceptional talent to AV. Together, we will drive agile innovation and deliver comprehensive, next-generation solutions designed to redefine the future of defense. We are thrilled to welcome the talented BlueHalo team as we unite our strengths, expand our global impact and accelerate growth and value creation for AV shareholders.”
EHang Holdings Limited (NASDAQ: EH), the world’s leading Urban Air Mobility (“UAM”) technology platform company, recently announced its unaudited financial results for the third quarter ended September 30, 2024. Mr. Huazhi Hu, Founder, Chairman and Chief Executive Officer of EHang, commented, “In Q3, EHang once again made remarkable milestones that reinforce our leadership and strategic vision in UAM. As the first eVTOL manufacturer to receive three key certifications for pilotless aerial vehicles, coupled with strengthened government initiatives, we saw an increase in orders from a diverse customers base. Quarterly deliveries of the EH216-S hit a new high of 63 units, more than quadrupling from the prior year, driving robust revenue growth and reflecting strong market demand and recognition of our innovative eVTOL solutions.
Our progress towards obtaining the OC for pilotless passenger-carrying aircraft is on track, marking a global first that will indicate readiness for full-scale operations. We are also actively assisting customers and partners across multiple regions to expedite their OC applications, accelerating the nationwide commercialization of the EH216-S. Additionally, we continue to build the low-altitude ecosystem, including launching a UAM Hub in Hefei, forming a strategic partnership with CAFUC for talent development, and establishing a comprehensive after-sales maintenance system. As part of our global expansion, we have extended our flight footprint to 18 countries and made significant progress in overseas markets.
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