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Mass-market military drones have forever changed the way wars are fought. The high cost of UAVs previously restricted the expansion of this market, but things are now gradually improving. Military systems across the world are discovering the need to invest in UAVs due to their effective operations of advanced security systems.
The global military drones market was valued at $11.6 billion in 2021 and is projected to reach $34.3 billion in 2023. With powerful drivers such as increased government spending, the role of drones is expanding from intelligence, surveillance, and reconnaissance to new functions such as combat operations, delivery, and transportation.
Epazz, Inc. EPAZ is a mission-critical provider of drone technology, blockchain mobile apps, and cloud-based business software solutions. Its spinoff, ZenaDrone is an autonomous drone monitoring, inspection, and surveillance solution provider. Epazz Holdings is currently prioritizing the development of the ZenaDrone 1000 autonomous drone product by upgrading its AI technology to boost its global reach across industries. The ZenaDrone team uses predictive AI analytics — or predictive modeling — to make forecasts of future outcomes based on acquired data.
The company has been focusing on getting U.S. government contracts for the product, as it submitted Phase I SBIR contracts and is working on securing partnerships for Phase II.
On March 10, Epazz announced ZenaDrone signed up a U.S. defense contractor to partner with on submitting a SBIR Phase II proposal. This partnership helps the company to accelerate the Phase II submission process, which includes a U.S. government customer that will be using its drone and partner technology.
The company said it is working to add more partners who have already established contracts with the U.S. military to submit more proposals for Phase II in April. ZenaDrone has agreed to install its partner's technology into its drones to test its offering. It will be part of the contract and, if awarded, will share proceeds of up to $1.2 million of the contract price.
CEO Shaun Passley, Ph.D., said, "We met a lot of good companies during the January conference; they have been grateful to help us through the SBIR process. We look forward to working with them on Phase II."
Epazz Holding has significant revenue potential related to government contracts in the military drone market. Trading at these levels, EPAZ should be on the investors' radar.
Additional stocks in the military drone space to make note of include:
Teledyne Technologies Incorporated TDY is a global engineering company; whose Teledyne FLIR Defense unit provides militaries with intelligent sensing and threat detection technology, including unmanned systems.
On Feb. 8 the company 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 reconnaissance missions.
For the base contract, Teledyne FLIR will deliver four SkyRaiders and six of each sensor payload, with options to support training, documentation, plus the delivery of additional UAS and payloads.
Teledyne FLIR Defense will integrate flight control software that enables the SkyRaider Unmanned Aerial System to autonomously fly such missions currently performed by soldiers hand-carrying detection sensors into hazardous areas. This will allow soldiers to complete these missions without directly controlling the drone – and without exposing themselves to toxic substances.
Thales Group THLLY is a multinational defense and aerospace company that provides advanced technology solutions in the areas of AI, cybersecurity, and autonomous systems. It is a which provides SKELDAR V-200, a remotely piloted aerial system used for reconnaissance, identification, and target acquisition.
On Feb. 21 Saab AB became a part of the consortium for the European Detect and Avoid System funded by The European Commission. The grant agreement, worth over EUR 21 million, will have the Detect and Avoid system developed and tested on several unmanned platforms
The company's flagship SKELDAR V-200 has successfully performed live flight demonstrations using an innovative Detect and Avoid System capable of automatically maneuvering the UA around intruder aircraft. The demonstrations have proven the capability of the system when it encountered both cooperative and non-cooperative collision course scenarios and is considered a key milestone as part of the European Detect and Avoid System development, led by Saab.
Conclusion
The market for military drones has strong drivers as global military operations switch from relying on manned systems to increasingly relying on autonomous solutions.
Investors hoping to benefit from this trend should follow the news and advances that these drone manufacturers make as they continue to innovate and bring down the costs of their products.
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