The drone industry has witnessed a significant growth trajectory in recent years, and the trend is expected to continue in the coming years. The adoption of drone technology has been on the rise in various industries such as agriculture, real estate, delivery services, and surveillance.

In recent years, the use of military drones has grown significantly, and these unmanned aircraft systems are now an essential part of many military operations worldwide. As a result, the market for manufacturing military drones has experienced rapid expansion, and investors are becoming increasingly interested in chances to invest in businesses that make these cutting-edge technologies.

The drone industry is predicted to expand quickly, with a CAGR of 38.6% from 2023 to 2030, creating the possibility of a very profitable investment opportunity. There are many different companies to choose from when investing in drone stocks; in this article, we'll focus on a few of the major players in this quickly developing market.

Epazz, Inc. (OTC: EPAZ) is a mission-critical provider of drone technology, blockchain mobile apps, and cloud-based business software solutions.

On March 1, Epazz announced that the US Air Force had invited ZenaDrone, a spinoff of Epazz, to showcase the ZenaDrone 1000 at an air base in California on March 16 and 17.

This will be ZenaDrone’s first visit to a military base to interact with personnel and gain insight into their drone technology’s potential use in the Air Force.

The invitation follows another recent EPAZ announcement that Zenadrone had submitted Phase I SBIR proposals to the US Government. ZenaDrone will hear back from the government in 90 days.

The SBIR program is designed to get products into the government market. Additionally, if ZenaDrone is a part of the program, there will be opportunities to sell our drones to US allies.

The SBIR program has multiple phases:

• Phase I contracts have a value of up to $75,000, per proposal

• Phase II contracts have a value of up to 1.2 million, per proposal

• There are additional phases after II, that open up major government contracts worth up to $15 million over the next three years.

EPAZ has an opportunity to make significant revenue from the SBIR contracts over the course of the next few years.

Epazz CEO Shaun Passley, Ph.D., said, “We are taking multiple pathways to become a government contractor of drones. It is a major opportunity for us, as Chinese drones are banned in the US government. It has opened up major demands for our drones.”

The US government has a major need for non-Chinese drones. The government is pushing initiatives to obtain made-in-America drones through its BlueUAS program. ZenaDrone is currently in the process of applying for BlueUAS. According to the company, the current list of American-made drones is very short.

ZenaDrone Inc. is a provider of a multifunctional unmanned aerial vehicle equipped with machine learning systems, multispectral sensors, and AI technology. A 3D interactive environment is made by ZenaDrone using the data its cameras collect.

The ZenaDrone team will employ predictive AI analytics, a type of analysis that makes predictions of future events based on collected data by using techniques and resources to build predictive models.

Data mining, statistical modeling, machine learning algorithms, and complex mathematics are some of the methods used in predictive analytics.

EPAZ finished Wednesday up 18.18%. With more news on the way, put EPAZ on your watchlist.

Additional stocks in the drone segment that are worth noting are:

Draganfly, Inc. (NASDAQ: DPRO) (CSE: DPRO) is an award-winning, industry-leading drone solutions and systems developer.

• On the 28 of February ,it announced 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 have 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 that would be required to aid in the advancement of mine clearance strategies and the allocation of field resources.

Teledyne Technologies Incorporated (NYSE:TDY) is a leading provider of sophisticated digital imaging products and software, instrumentation, aerospace and defense electronics, and engineered systems.

• Teledyne FLIR, a Teledyne Technologies company, is a world leader in intelligent sensing, unmanned systems, and integrated solutions for defense and industrial markets.

• On Feb. 8th, Teledyne FLIR Defense 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 reconnaissance missions.

AeroVironment (NASDAQ: AVAV) offers technological solutions that combine robotics, sensors, software analytics, and connectivity to produce more useful intelligence.

• Announced on March 1, AVAV was selected by the United States Army on Feb. 28, 2023, to move forward in the Future Tactical Unmanned Aircraft System program (FTUAS).

• AeroVironment is the only company to secure an award for all FTUAS program increments, including FTUAS Increments 0,1 and now 2

• Increment 2 is the final phase of the U.S. Armys FTUAS program competition to select a replacement for the RQ-7B Shadow UAS.

Honeywell (NASDAQ: HON) delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally.

• In early February, a drone piloted by the Honeywell IntuVue RDR-84K radar system demonstrated the UAV dodging collisions autonomously in test.

• The tests showed that the radar can not only detect airborne traffic but can also decide autonomously on a course of action. The radar can take over navigation and pilot an aircraft to safety using its onboard processor.

The primary business of Lockheed Martin Corporation (NYSE: LMT), a multinational security and aerospace company, is the research, design, development, manufacture, integration, and maintenance of advanced technology systems, products, and services.

Lockheed Martin has been providing advanced autonomous systems to the US military and its allies for decades. Through strategic investments and nontraditional partnerships, LMT is combining commercial best practices with their technological expertise to bring autonomy capabilities to the defense industry rapidly and affordably.

An announcement made on March 1 stated that Fortem Technologies, a pioneer in the fields of airspace awareness, security, and defense, had received $17.8 million in funding. Newly important industry investors, including Lockheed Martin Ventures as well as Hanwha Aerospace and AIM13/Crumpton Venture Partners, were the main drivers of the funding. Existing investors, DCVC and Signia Venture Partners, have also contributed additional funds.

The company's expansion and opportunity in the counter-UAS and advanced air mobility markets are strongly supported by the investments made by these sector-leading businesses.

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