Top 9 drone stocks to watch in 2026

Unmanned aerial systems are built for uses ranging from military reconnaissance and precision strikes to commercial inspection and consumer racing drones. The nine U.S.-listed stocks on this list reflect that spread – Unusual Machines ($UMAC) and Red Cat Holdings ($RCAT) are focused on drone hardware and software, while larger names in aerospace, defence, and logistics carry drone-related operations as part of much broader businesses.

How we built this list: We selected these companies based on their industry and ordered them by market capitalisation. Prices are updated daily, and the list and supporting content are reviewed roughly every quarter. All data is sourced from Stake. This list isn't a recommendation and isn't ordered by suitability.

Past performance is not a reliable indicator of future performance.

Source: Stake market data. Figures in US$. Data updated as of 7 August 2026.

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1. Amazon.com ($AMZN)

Amazon.com (AMZN) share price over the last year: started at US$221.30, ended at US$274.48, a change of +24.0%. Range over the period: high US$284.02, low US$198.79. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$274.48 · Daily: 0.8% · Market cap: US$2.96T · Sector: Consumer Discretionary · Industry: Retail Stores

Amazon.com ($AMZN) connects buyers with goods through online and physical stores, drawing on its own inventory alongside products from third-party sellers. $AMZN manufactures consumer electronics – Echo speakers, Kindle e-readers, Ring doorbells, and Fire TV devices. The company also runs Amazon Web Services (AWS), a cloud platform providing computing, storage, and machine learning to businesses, government agencies, and academic institutions.

The drone connection runs through Prime Air, Amazon's autonomous package-delivery program. CEO Andrew Jassy leads a workforce of 1,576,000 people across retail, cloud computing, and hardware operations. Prime Air is one program within that broader set of businesses.

2. GE ($GE)

GE (GE) share price over the last year: started at US$275.20, ended at US$370.08, a change of +34.5%. Range over the period: high US$381.22, low US$265.93. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$370.08 · Daily: -1.2% · Market cap: US$383.98B · Sector: Industrials · Industry: Aerospace & Defence

GE Aerospace ($GE) makes the engines that power aircraft – commercial jets, business aviation craft, and military platforms. The company's installed base covers over 50,000 commercial and 30,000 military aircraft engines, which means a large share of its revenue flows from servicing those engines through maintenance, repair, overhaul and spare parts rather than only from new unit sales.

The Defense & Propulsion Technologies segment is where the drone angle sits. That arm produces defence engines and critical aircraft systems, including work across its Defense & Systems and Propulsion & Additive Technologies businesses. Brands under $GE's umbrella include Avio Aero, Dowty Propellers, Unison and Colibrium Additive. With 57,000 employees and Larry Culp as chief executive, this is a much larger and more diversified industrial business than the pure-play drone hardware names on this list.

3. Boeing ($BA)

Boeing (BA) share price over the last year: started at US$225.96, ended at US$234.42, a change of +3.7%. Range over the period: high US$252.15, low US$179.12. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$234.42 · Daily: 1.0% · Market cap: US$185.28B · Sector: Industrials · Industry: Aerospace & Defence

The Boeing Company ($BA) covers a lot of ground for an aerospace manufacturer – commercial jets, military aircraft, weapons systems, and a global services arm that keeps those platforms running long after delivery. Its Defence, Space & Security segment is where the unmanned angle sits, handling research, development and production of both manned and unmanned military aircraft.

Under chief executive Kelly Ortberg, $BA employs around 182,000 people worldwide. Drones represent one thread within a much broader defence and commercial business, so the exposure here is less direct than pure-play drone companies.

4. UPS ($UPS)

UPS (UPS) share price over the last year: started at US$86.31, ended at US$104.50, a change of +21.1%. Range over the period: high US$120.00, low US$82.58. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$104.50 · Daily: 1.3% · Market cap: US$88.91B · Sector: Industrials · Industry: Freight & Logistics

United Parcel Service ($UPS) delivers packages and manages supply chains at a scale that reaches most parts of the world. Its U.S. Domestic Package segment covers the full range of delivery speeds – same-day through three-day air, plus day-definite ground service – while its international arm handles small package operations across Europe, the Middle East and Africa, Canada and Latin America, and Asia.

The company also runs supply chain solutions, including specialised cold chain transportation for temperature-sensitive goods. Drone delivery is where $UPS connects to this list: under CEO Carol Tome, the company has pursued commercial drone operations as an extension of its existing last-mile logistics network, with around 460,000 employees underpinning the broader infrastructure those efforts sit within.

5. Northrop Grumman ($NOC)

Northrop Grumman (NOC) share price over the last year: started at US$580.24, ended at US$571.58, a change of −1.5%. Range over the period: high US$768.02, low US$496.02. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$571.58 · Daily: 0.7% · Market cap: US$81.20B · Sector: Industrials · Industry: Aerospace & Defence

Northrop Grumman ($NOC) sits across four segments – Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems – with work covering everything from military aircraft design to missile defence and satellite operations. Its Aeronautics Systems division develops and sustains military aircraft for the U.S. Air Force, the U.S. Navy and international governments. The Mission Systems segment provides C4ISR – command, control, communications, computers and reconnaissance – alongside its other multifunction systems.

Drones are one thread in a much larger operation. $NOC employs around 95,000 people, and CEO Kathy Warden oversees a business where Space Systems alone covers launch and missile defence alongside its aerospace work.

6. Kratos Defense ($KTOS)

Kratos Defense (KTOS) share price over the last year: started at US$65.41, ended at US$60.77, a change of −7.1%. Range over the period: high US$130.72, low US$43.88. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$60.77 · Daily: 5.9% · Market cap: US$11.41B · Sector: Industrials · Industry: Aerospace & Defence

Kratos Defense & Security Solutions ($KTOS) runs two business segments. Kratos Government Solutions handles microwave electronics, satellite and cyber systems, turbine technologies and command-and-control infrastructure, while the Unmanned Systems side builds aerial, ground and seaborne drones along with the communications systems that go with them.

The company's customers are almost entirely government and national security agencies – the U.S. Department of Defense, intelligence agencies and classified programmes. Eric Demarco leads the business, which employs around 4,300 people across both segments.

7. AeroVironment ($AVAV)

AeroVironment (AVAV) share price over the last year: started at US$244.44, ended at US$186.73, a change of −23.6%. Range over the period: high US$409.83, low US$136.68. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$186.73 · Daily: 9.1% · Market cap: US$9.45B · Sector: Industrials · Industry: Aerospace & Defence

AeroVironment ($AVAV) builds the kind of hardware that rarely makes headlines but shows up constantly in modern defence operations – small unmanned aircraft, loitering munitions, underwater robots, and the systems designed to knock other drones out of the sky. Its two main divisions split the work between robotic platforms in the air, on the ground and underwater, and a separate group focused on space, cyber and directed energy capabilities.

The company's primary customers are organisations within or supplying the U.S. Department of Defense, other federal agencies, and international allied governments. Under CEO Wahid Nawabi, the 3,991-person company works across air, land, sea, space and cyber domains rather than a single product line.

8. Red Cat Hldg ($RCAT)

Red Cat Hldg (RCAT) share price over the last year: started at US$9.37, ended at US$9.21, a change of −1.7%. Range over the period: high US$17.36, low US$6.14. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$9.21 · Daily: 6.2% · Market cap: US$1.41B · Sector: Industrials · Industry: Aerospace & Defence

Red Cat Holdings ($RCAT) builds drones and drone software for military, government, and public safety customers. The company is Puerto Rico-based and operates through two wholly owned subsidiaries – Teal Drones and FlightWave Aerospace – each focused on American-made hardware and software.

$RCAT's Golden Eagle drones carry approval from the U.S. Department of Defense for reconnaissance, public safety, and inspection applications. Its Family of Systems, led by the Black Widow platform, delivers tactical capabilities in small unmanned aircraft systems, known as sUAS.

The company's scope extends beyond the air. $RCAT also develops uncrewed surface vessels, or USVs, designed for multi-domain operations across air, land, and sea. CEO Jeff Thompson leads a team of 244 employees.

9. Unusual Machines ($UMAC)

Unusual Machines (UMAC) share price over the last year: started at US$9.96, ended at US$26.11, a change of +162.1%. Range over the period: high US$33.42, low US$7.76. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$26.11 · Daily: 7.8% · Market cap: US$1.30B · Sector: Industrials · Industry: Aerospace & Defence

Unusual Machines ($UMAC) sits closer to the hardware end of the drone industry, building the components that go inside unmanned aerial systems – motors, flight controllers, electronic speed controllers, cameras and video transmitters. The company sells through two routes: business-to-business deals and a consumer-facing e-commerce channel.

Its two main brands divide the work. Fat Shark designs ultra-low latency video goggles worn by drone pilots, while Rotor Riot is an online marketplace built around the first-person view (FPV) community – the tight-knit world of acrobatic racing drones. $UMAC also develops electric motors and propulsion systems directly for unmanned aerial systems manufacturers.

At 141 employees under chief executive Allan Evans, $UMAC is a small operation by most measures. That scale means it's concentrated on a narrow slice of the drone supply chain rather than the broader aerospace and defence market.

➡️ Top 10 Defence Stocks to Watch in 2025→

Common questions

How do I invest in drone stocks in Australia?

Every stock in this list trades on U.S. exchanges, so you'll need a share trading platform with access to U.S. markets. You buy individual shares by searching the ticker and placing an order, with settlement in USD. Movements in the AUD/USD exchange rate add a layer of currency exposure on top of each stock's own share price movements.

What are the key risks of drone stocks?

Defense-oriented drone companies depend on government contracts and defence budgets, both of which can shift with political priorities. Regulatory risk cuts across the sector – rules around commercial drone operations and airspace access are still being established in many markets, and changes can affect business models quickly. Smaller, more focused companies carry more company-specific risk: a lost contract or a delayed product can move the share price sharply. Australian investors in U.S.-listed drone stocks also carry AUD/USD currency exposure on top of stock-level risk.

How much drone exposure does each company actually carry?

It varies widely across this list. Some companies here – AeroVironment, Kratos Defense, Red Cat Holdings and Unusual Machines – are built almost entirely around unmanned systems, so their results are closely tied to the drone market. Others, including Amazon and UPS, are testing drone delivery as one application within large, diversified businesses where it currently accounts for a small share of overall revenue. GE, Boeing and Northrop Grumman each have unmanned programs running alongside broad commercial and military aviation portfolios. How closely any stock tracks drone-sector developments depends significantly on how central unmanned systems are to its overall business.

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Disclaimer

Past performance is not a reliable indicator of future performance. When you invest, your capital is at risk. You should consider your own investment objectives, financial situation, and particular needs before making an investment decision. The value of your investments can go down as well as up and you may receive back less than your original investment. As always, do your own research and consider seeking appropriate financial advice before investing.

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