Department of War Taps Draganfly for Advanced Counter-UAS System Development
DPRO has more than doubled off its 52-week low of $1.63.
Summary
Draganfly Inc., in partnership with F4 Defense International, has been selected by the Department of War's DEVCOM Army Research Laboratory for an initial development contract. The program focuses on creating a modular, multi-layered, integrated counter-unmanned aircraft system (C-UAS) platform designed to detect, identify, track, target, and defeat hostile drones. This development contract is a significant validation of Draganfly's advanced drone technology and its strategic expansion into the defense sector, building on recent selections by other Department of War units. It positions the company as a key player in the rapidly growing global C-UAS market, which is projected to exceed $20 billion by 2030, and could lead to substantial future procurement contracts upon successful completion of the development and evaluation phases.
At the time of this announcement, DPRO was trading at $5.41 on NASDAQ in the Technology sector, with a market capitalization of approximately $192.3M. The 52-week trading range was $1.63 to $14.40. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.