US Drone Market Reaches New Highs with $13.86bln Revenue in 2024.

• US drone market production and revenue increase • Favorable regulations, R&D investment, and domestic production initiatives • Global commercial drone market valued at $13.86 bln in 2024 • Projected to grow to $65.25 bln by 2032 with 20.8% CAGR • North America dominates market with 31.31% share in 2024 • US market size expected to grow significantly

Draganfly Inc. (NASDAQ: DPRO), a leading developer of drone solutions and systems, has announced its strategic alignment to support Canada's new $2 billion military aid package to Ukraine, which includes $220 million dedicated to drone capabilities [1]. This announcement underscores Draganfly's unique positioning in the global drone market, particularly in the North American region, which is expected to experience significant growth.

Draganfly's 27 years of experience in developing dual-use drone systems places it in a strong position to contribute to this initiative. The company's military-grade capabilities, including tactical multidrop payload systems, ISR and threat detection drones, counter-drone capabilities, medical supply delivery drones, and landmine detection systems, directly match the requirements outlined in the Canadian funding package [1]. This strategic alignment aligns Draganfly with Canada's newly committed $2 billion military aid package to Ukraine, focusing on drone technology, counter-drone systems, and electronic warfare capabilities.

The global commercial drone market is projected to grow from $13.86 billion in 2024 to $65.25 billion by 2032, with a CAGR of 20.8% [2]. North America dominates the market with a 31.31% share in 2024, indicating significant growth potential for companies like Draganfly operating in this region. The US drone market is expected to see substantial growth, driven by favorable regulations, R&D investments, and domestic production initiatives [2].

Draganfly's announcement is timely, coinciding with Prime Minister Mark Carney's visit to Kyiv and emphasizing the Canadian government's commitment to Ukrainian defense. By highlighting its Canadian roots and existing Ukrainian operations, Draganfly positions itself as an obvious partner for the joint ventures between Canadian and Ukrainian defense companies mentioned in the government's initiative [1].

While this press release indicates potential for significant new revenue opportunities, it's worth noting that actual contracts haven't yet been secured, and Draganfly will likely face competition from other defense technology providers pursuing the same funding allocation. Nevertheless, Draganfly's established presence in the defense ecosystem, demonstrated by its engineering projects for U.S. Military prime contractors and showcases at Pentagon events, gives it credibility in pursuing portions of this funding package [1].

Draganfly continues to expand its capabilities through domestic and international defense contracts, R&D investments, and partnerships with key defense integrators across NATO-aligned nations. As Canada accelerates joint production initiatives with Ukraine, Draganfly is committed to playing a pivotal role in this long-term alliance [1].

References:
[1] https://www.stocktitan.net/news/DPRO/draganfly-uniquely-positioned-to-support-canada-s-new-2-billion-bs3v52qzs289.html
[2] Global Commercial Drone Market Report 2024-2032