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.

‍

1. EHang Holdings Ltd. (EH)

‍

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.

‍

• 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%

‍

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

‍

‍

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.

‍

• 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%

‍

3. AeroVironment Inc. (AVAV)

‍

‍

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.

‍

• 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%

‍

4. Joby Aviation Inc. (JOBY)

‍

‍

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.

‍

• 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%

‍

5. Northrop Grumman Corp. (NOC)

‍

‍

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.

‍

• 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)

‍

‍

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.

‍

• 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

‍

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.

‍

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.

‍

FAQs:

‍

• What is the future outlook for drone stocks? The drone market is expected to continue its rapid expansion, especially in logistics, military, and aerial mobility sectors, making it a promising area for long-term investment.
• What is the impact of AI on drone technology? AI plays a crucial role in enhancing drone capabilities, including autonomous navigation, obstacle avoidance, and more efficient delivery systems.
• Why is Amazon a strong player in the drone market? Amazon's focus on expanding its drone delivery services through Prime Air, combined with AI integration, positions it to revolutionize the logistics industry.
• Is military spending boosting drone stocks? Yes, rising global defense budgets are driving demand for advanced drone technologies, particularly in surveillance, combat, and missile systems.

‍

Other Ways to Profit from Drone Stocks

‍

Using event-driven trading to find the best entry and exit points provides many benefits long-term stock holding cannot:

‍

• Rapid gains
• Outsized gains
• Access to your capital
• Reduced exposure to macroeconomic events
• Reduced exposure to competition
• A consistent, repeatable strategy

‍

Event-driven trading identifies stocks being catalyzed by events. This enables traders to use AI stock trading to identify stock set to move higher quickly. For most of the year, stocks stay in a trading range. When events happen, share prices can move 20%, 50%, even 100% in just a short time, enabling investors to capitalize on these rapid movements. 

‍

Find the Best Investments 1,800 Times Faster With LevelFields AI

‍

‍

Ready to transform the way you trade? With LevelFields, you gain access to cutting-edge analytics that empower you to find better investments 1,800 times faster.

‍

Our platform analyzes over 1.8 million market events each month, ensuring you act on facts, not opinions. Don’t leave your trading decisions to chance—equip yourself with the tools to make informed, data-driven investments.

‍

Sign up today and start turning market insights into profits.

‍