Drone Contracts Soaring as Military Drone Market Size Projected to Reach $47 Billion By 2032

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NEW YORK, Aug. 6, 2025 /CNW/ -- The military drone market is poised to continue to grow over the coming years. A military drone, also known as an unmanned aerial vehicle (UAV), is a remotely piloted aircraft system used in military operations. These drones are equipped with advanced sensors and cameras that provide real-time situational awareness, aiding decision-making and improving the effectiveness of military operations. 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. A report from Fortune Business Insights said: "The military drone market size was valued at 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." In an article recently published by the U.S. Department of Transportation, U.S. Transportation Secretary Sean P. Duffy unveiled a new proposed rule – Beyond Visual Line of Sight (BVLOS). This rule will unleash American innovation and safely integrate unmanned aircraft systems (UAS) into the national airspace system. "We are making the future of our aviation a reality and unleashing American drone dominance. From drones delivering medicine to unmanned aircraft surveying crops, this technology will fundamentally change the way we interact with the world," said U.S. Transportation Secretary Sean P. Duffy. "Our new rule will reform outdated regulations that were holding innovators back while also enhancing safety in our skies. Thanks to President Trump, America – not China – will lead the way in this exciting new technology." Previously, operators would have to get individual waivers or exemptions to use their drones without visual line of sight. These were approved on a case-by-case basis, and the process was cumbersome. By eliminating these requirements for BVLOS operations, the proposal will significantly expand the use-case for drone technologies in areas like: manufacturing, farming, energy production, filmmaking, and the movement of products including lifesaving medications." Active Companies in the Drone Industry today include Safe Pro Group Inc. (NASDAQ:SPAI), Ondas Holdings Inc. (NASDAQ:ONDS), Red Cat Holdings, Inc. (NASDAQ:RCAT), Draganfly Inc. (NASDAQ:DPRO) Unusual Machines, Inc. (NYSEAmerican:UMAC).