Mentioned:
RCAT -13.94% UMAC -18.31% ONDS -12.91%
The Department of War is laser focused on the future of American drones. Which is exactly why they are committing a billion dollars in new purchase orders for drone companies in the United States.
What’s happening:
- The United States Department of War has officially launched a new initiative known as the Drone Dominance Program to purchase $1B USD of small attack drones
Why it matters:
- The Drone Dominance Program is one of the largest purchase commitments for small attack drones ever and will focus largely on buying drones from American companies
Going deeper:
- The Drone Dominance Program comes after President Donald Trump signed a new executive order focused on accelerating drone production and manufacturing in America to reduce the United States being dependent on foreign countries for combat drones
- Multiple publicly traded companies have been scaling up their drone capabilities lately, with Red Cat Holdings (NASDAQ: RCAT) launching new first person view drones and Unusual Machines (NYSE: UMAC) cutting a new drone motor deal with the United States Army
The intrigue:
- Ondas Holdings (NASDAQ: ONDS) has also been making waves on Wall Street with a flurry of new major contracts, including notably landing a multi million dollar deal with a major European airport to leverage their counter drone system Iron Drone Raider
