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).
The report said: “Drone swarm technology is growing in popularity in the military drone market due to its cost efficiency and high firepower. Drone swarms are a large group of small drones that coordinate with each other to perform actions such as a survey of enemy territories, search and rescue, and attacks on hostile objects. Drone swarm technology involves the production of several small, cheap drones rather than one large, expensive drone, therefore offering military drone manufacturers and end-users efficiency in terms of cost and time. With the use of advanced swarm technologies, the military and armed forces can effectively carry out lethal drone strikes in multiple places at once… (These) drones can communicate with each other through a main channel using a specific algorithm, which sends messages to all of the drones and assigns each one of them a specific mission to fly to the target. Increasing government funding for military drones to enhance efficiency in military operations boosts the demand for the production of military drones… the increasing government spending on unmanned drones is driving the military drone market.”
Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) BREAKING NEWS: Draganfly Successfully Completes Landmine Reconnaissance Missions in Ukraine – Draganfly personnel have completed initial field operations for the integration of personnel and technology into upcoming landmine detection activity- Draganfly Inc. (FSE: 3U8) (“Draganfly” or the “Company”), an award-winning, industry-leading drone solutions, and systems developer, is pleased to announce that its Field Operations Team successfully completed site assessments in Ukraine as part of the first phase of integration of its landmine detection technology.
Draganfly personnel has completed operations and site assessments to integrate personnel and technology into upcoming landmine detection operations. These missions were critical in determining the array of complex sensors and equipment required to be deployed to help to advance mine clearance strategies and assist in field resource allocation.
The information obtained during these field operations will be used to further develop protocol for deployment for the purpose of the integration of drone technology to improve the safety and efficiency of landmine detection activity.
Draganfly has been working with organizations in Ukraine to integrate technological innovations and solutions to support and enhance humanitarian efforts and strategies to prevent suffering and loss of life.
“Draganfly is amongst the most innovative and adaptable to field solutions for mission execution.” Darren Nebres, Country Director, Ukraine.
“Drone technology is revolutionizing the way military and civilian organizations gather information about their operating environment,” Cameron Chell, CEO of Draganfly. “Draganfly is honored to be working at the forefront helping solve these important challenges with technology that can save time, money, and lives on a global scale.” 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
Teledyne FLIR Defense, part of Teledyne Technologies Incorporated (NYSE: TDY), recently announced that it has been awarded a $13.3 million contract by the U.S. Department of Defense to further expand the capabilities of its R80D SkyRaider™ unmanned aerial system to autonomously perform chemical, biological, radiological and nuclear (CBRN) reconnaissance missions.
Teledyne FLIR Defense will integrate flight control software that enables the SkyRaider Unmanned Aerial System (UAS) to autonomously fly CBRN missions currently performed by soldiers hand-carrying detection sensors into hazardous areas. Blending the new technology with SkyRaider’s existing capabilities will allow soldiers to complete these missions without directly controlling the drone – and without exposing themselves to toxic substances.
AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, recently announced it will issue financial results for the Company’s fiscal third quarter ended January 28, 2023 after the market closes on Monday, Mar. 6, 2023. Management will host a conference call and live audio webcast to discuss the results at 4:30 p.m. Eastern Time that day.
Hosting the call to review results for the fiscal third quarter will be Wahid Nawabi, chairman, president and chief executive officer, Kevin P. McDonnell, senior vice president and chief financial officer, and Jonah Teeter-Balin, senior director corporate development and investor relations.
Investors may access the conference call by registering via the participant registration link below up to 10 minutes prior to the start time.
Conference Call Event Summary
Date: Mar. 6, 2023
Time: 4:30 PM ET (1:30 PM PT, 2:30 PM MT, 3:30 PM CT)
Participant registration URL: https://register.vevent.com/register/BIac3afa4fd07640f5babfc44519728c67
Investors may also listen to the live audio webcast via the Investor Relations section of the AeroVironment, Inc. website, http://investor.avinc.com. Please allow 15 minutes prior to the call to download and install any necessary audio software.
Honeywell (NASDAQ: HON) recently announced that its Board of Directors has declared a quarterly dividend payment of $1.03 per share on the Company’s common stock. The dividend is payable on March 10, 2023, out of surplus to holders of record at the close of business on February 24, 2023.
Honeywell (www.honeywell.com) delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable
Lockheed Martin (NYSE: LMT) recently announced that it is partnering with the U.S. Navy to integrate hypersonic strike capability onto surface ships.
The U.S. Navy awarded Lockheed Martin a contract worth more than $2 billion, if all options are exercised, to integrate the Conventional Prompt Strike (CPS) weapon system onto ZUMWALT-class guided missile destroyers (DDGs). CPS is a hypersonic boost-glide weapon system that enables long range missile flight at speeds greater than Mach 5, with high survivability against enemy defenses.
“Lockheed Martin continues to advance hypersonic strike capability for the United States through this new contract,” said Steve Layne, vice president of Hypersonic Strike Weapon Systems at Lockheed Martin. “Early design work is already underway. Our team looks forward to supporting the warfighter by providing more options to further protect America at sea.”
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