The drone industry is expanding rapidly, offering numerous opportunities for investors looking to capitalize on advancements in drone technology. With drones moving from specialized military applications to mainstream commercial use, these stocks present promising growth potential in 2024. Here are seven drone stocks that stand out in this evolving landscape.

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1. EHang Holdings Ltd. (EH)

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EHang, a China-based company, is gaining traction in the eVTOL (electric vertical takeoff and landing) aircraft market. The company saw its highest-ever quarterly sales in Q2 2024 and continues to lead in aerial vehicle technology. With substantial market share growth projected by 2030, EHang is set for a rebound.

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• Market Cap: $1.12B USD
• YTD Performance: +9.49%
• Current Price: $17.57
• Revenue Growth (Y/Y): +919.58%
• Operating Expense Growth (Y/Y): +73.50%
• Net Income Growth (Y/Y): +5.33%
• Net Profit Margin: -70.12%
• EBITDA: -$74.14M CNY (-1.45% Y/Y)
• Effective Tax Rate: -0.03%

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2. Kratos Defense & Security Solutions Inc. (KTOS)

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Kratos offer high performance, jet-powered, unmanned aerial target drone systems used for weapon systems testing and warfighter training. As defense spending rises globally, the demand for Kratos' military drones is expected to surge. The company's government contracts, including with the U.S. Navy, give it high chances for long-term growth prospects.

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• Market Cap: $3.83B
• YTD Performance: +22.01%
• Current Price: $25.35
• Revenue Growth (Y/Y): 16.82%
• Net Income Growth (Y/Y): 392.59%
• Earnings per Share: $0.14
• EBITDA: $22.90M
• Net Profit Margin: 2.63%
• Operating Expense Growth (Y/Y): 13.11%
• Effective Tax Rate: 37.80%

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3. AeroVironment Inc. (AVAV)

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AeroVironment is known for its UAVs used in both defense and commercial sectors. Although facing some contractual challenges, the company is a big player in military drone technology, particularly with its Switchblade drones. AeroVironment has been on a tear, as its drones have been proven in battles in Ukraine.

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• Market Cap: $5.89B
• YTD Performance: +75.38%
• Current Price: $208.00
• Revenue Growth (Y/Y): 24.38%
• Earnings Growth (Y/Y): -3.33%
• P/E Ratio: 98.10
• EBITDA: $31.88M
• Net Profit Margin: 11.17%
• Effective Tax Rate: 6.56%

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4. Joby Aviation Inc. (JOBY)

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Joby is a leader in the eVTOL aircraft space and has recently made notable advancements, including acquiring autonomous flight technology. The company expects to begin commercial flight operations by 2025, and has pilot contracts with the U.S. Air Force already.

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• Market Cap: $4.20B
• YTD Performance: +1.13%
• Current Price: $5.77
• Revenue Growth (Y/Y): 24.43%
• Net Income Growth (Y/Y): 56.90%
• Net Profit Margin: -440.33%
• Earnings per Share (EPS): -0.18
• EBITDA: -$135.60M
• Effective Tax Rate: -0.01%

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5. Northrop Grumman Corp. (NOC)

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Northrop Grumman is a major player in the defense drone space, benefiting from increased defense budgets worldwide. With cutting-edge drone technology like the Cannon-Based Air Defense system, the company is well-positioned for continued growth.

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• Market Cap: $78.00B
• YTD Performance: +10.35%
• Current Price: $532.47
• Revenue Growth (Y/Y): 6.70%
• Earnings Growth (Y/Y): 15.76%
• P/E Ratio: 34.78
• Dividend Yield (TTM): 1.55%
• EBITDA: $1.58B
• Net Profit Margin: 9.20%

6. Amazon.com Inc. (AMZN)

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Amazon continues to be a leader in drone technology through its Prime Air initiative. The company aims to revolutionize logistics by integrating drones into its delivery process. In ongoing testing, Amazon is pushing for quieter, faster, and more efficient delivery systems, including expanding flight zones and increasing flight capacity.

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• Market Cap: $1.92 Trillion
• YTD Performance: +25.31%
• Current Price: $182.16
• Revenue Growth (Y/Y): 10.12%
• Operating Expense Growth (Y/Y): 3.82%
• Net Income: $13.49 Billion (+99.78% Y/Y)
• Net Profit Margin: 9.11% (+81.47% Y/Y)
• Earnings per Share: 1.26 (+93.85% Y/Y)
• EBITDA: $26.71 Billion (+38.61% Y/Y)
• Effective Tax Rate: 11.59%
• P/E Ratio: 43.64

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With the drone industry rapidly integrating into commercial and defense sectors, these seven stocks provide a mix of stability and high-growth potential. Whether it's Amazon's logistics innovations or Kratos' military focus, drone technology presents exciting opportunities for investors in 2024.

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If you invest in Drone stocks, it’s important to monitor for material events to avoid missing news or announcements that can significantly affect your investments and provide better entry points.

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FAQs about Best Performing Drone Stocks

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Which drone stock is best?

While individual stock performance can vary, EHang Holdings and Kratos Defense & Security Solutions have shown strong growth. Investors should consider their overall investment strategy and risk tolerance before deciding.

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Is it good to invest in drone stocks?

Yes, the drone market is expanding rapidly, especially with applications in logistics, military, and commercial sectors. This growth could present lucrative opportunities for long-term investors.

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What drone stock did Cathie Woods buy?

Specific stocks purchased by investors like Cathie Woods are not detailed in our data. We recommend checking the latest filings and updates from investment funds for the most accurate information.

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What drone company is publicly traded?

Publicly traded drone companies mentioned here include EHang Holdings, Kratos Defense & Security Solutions, AeroVironment, Joby Aviation, Northrop Grumman, and Amazon.com, each offering unique contributions to the drone sector.

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Who is the world leader in drones?

Amazon is emerging as a world leader in drone technology through its Prime Air initiative, aiming to revolutionize logistics with drone deliveries.

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Can you buy DJI drone stock?

DJI, being a privately held company, does not offer publicly traded stock. Investors interested in the drone market might consider other publicly traded companies mentioned in our overview.

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Other Ways to Profit from Drone Stocks

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• Reduced exposure to macroeconomic events
• Reduced exposure to competition
• A consistent, repeatable strategy

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