3 drone tech stocks that will soar to new heights

drone technology - 3 drone technology stocks that will soar to new heights

Source: Mike Mareen /

Drone stocks may have fallen out of favor recently as investors shifted their funds to sexier investments like AI, Metaverse or cryptocurrencies. Still, drone tech stocks may be better picks given the technology’s more mature state and positive cash flow.

Investors can also choose stocks that represent solid upside potential. Some catalysts for these stocks include increased commercial and recreational users and further technological developments.

So if you’re looking for a list of drone stocks that will soar to new heights, here are some companies to consider.

AeroVironment (AVAV)

The logo for AeroVironment (AVAV) is seen through a magnifying glass on the company's website.

Source: Pavel Kapysh /

AeroVironment (NASDAQ:AVAV) is a defense contractor with a focus on unmanned aerial vehicles (UAVs) and has contracts with the Ministry of Defence.

AVAV stock presents a bullish case as it demonstrates solid technical patterns, with its relative strength line hitting a 52-week high and forming a 32-day cup pattern last month, a buy signal.

The company’s focus on advanced unmanned aerial systems such as Puma for surveillance resonates with current defense trends. Some of these trends can be seen today in the wars in Ukraine and most recently between Hamas and Israel.

These factors make AVAV stock one of the drone stocks that investors can consider buying.

Boeing (BA)

Boeing (BA) airliner with exit door open, passenger windows, cargo door, close-up of Boeing logo

Source: vaalaa /

Boeing (SNEEZE:B.A) has a growing presence in the drone market with UAVs such as the ScanEagle and MQ-25 Stingray, which were demonstrated by mid-air refueling of a Navy jet.

One of BA-stock’s drones, which has been under development for some time, is expected to make a significant impact.

The Boeing MQ-28 Ghost Bat is a cutting-edge UAV developed by Boeing Australia in collaboration with the RAAF, designed to complement manned combat aircraft through advanced AI-powered reconnaissance and surveillance capabilities.

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The MQ-28 further reinforces the trend of reducing boots on the ground and instead relying on these kinds of asymmetric warfare tactics that help preserve human life. It also has jet-like performance and strengthens Australia’s defenses while demonstrating Boeing’s commitment to UAV innovation outside the US

EHang (EH)

Flying taxi or Car-drone-EHang 216 exhibited by Prestige Image Motor Cars at the 2023 Indonesia International Motor Show (IIMS) at JIExpo Kemayoran.  EH warehouse

Source: Toto Santiko Budi /

EHang (NASDAQ:EH) is a Chinese company pioneering the development of passenger drones for transport and tourism.

The company’s shares rose 25% after receiving a type certificate from China’s CAAC for its EH216-S, a two-passenger autonomous eVTOL that signals compliance with safety and airworthiness standards and gives the go-ahead for commercial passenger transport.

That has led some analysts and commentators to recommend EH as a flying car stock that investors should also be aware of.

EH stocks also boast some excellent momentum properties. For example, it’s currently up over 200% year-to-date and trading just below its 200-day moving average.

With its improving fundamentals and strong price technicals, it is one of the drone stocks to buy.

As of the date of publication, Matthew Farley did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the author, subject to the Publishing Guidelines.

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