Department of War Taps Draganfly for Advanced Counter-UAS System Development
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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.