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Finance

What Are the Best Drone Stocks to Buy?

The FAA’s work to establish rules for commercial drone usage may be effective in “opening up the possibility of drone delivery services,” according to Investor’s Business Daily. Some drone companies and companies impacting drone technology to watch include Boeing, Northrop Grumman, Lockheed Martin, Kratos Defense and Security Solutions, AeroVironment, and Amazon.  

Drone companies’ stock

Investor’s Business Daily combines earnings, relative strength, 52-week stock performance, and other factors to produce composite ratings for stocks. US News also provided several stocks to watch for drone technology. 

Boeing (BA) is rising in the arena of drone manufacturing, although it’s known for fighter jets and airliners. The aerial-refueling drone MQ-25 Stingray is a project that Boeing is contracted to complete for the Navy. It will be the first carrier-based drone for the service.  

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Morningstar analyst Burkett Huey, according to US News, said that although big aerospace companies like Boeing don’t focus a lot of their efforts on drones, “the long-term outlook is nonetheless positive for drone manufacturing for these players.” 

Kratos Defense and Security Solutions is a drone company that works closely with the Air Force.

Northrop Grumman (NOC) makes the RQ-4A Global Hawk Surveillance Drone and the MQ-4C Triton. Its Fire Scout is a rotary drone that Navy ships can operate. 

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Parrot (PAOTF) makes the ANAFI USA drone. The drone is built for workers like first responders, search and rescue teams, firefighters, and surveying and inspection professionals.  

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AeroVironment is a top drone provider for the Pentagon. BP, the National Park Service, and law enforcement agencies have also utilized AeroVironment drones.  

Amazon is working on its drone delivery service, Prime Air Service. The company has received FAA approval to fly its all-electric MK-27 drone. Alphabet’s Google Wing also has FAA approval to start drone delivery services.  

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Source: istock

View more information: https://marketrealist.com/p/best-drone-stocks-to-buy/

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