Top 9 drone stocks to watch in 2026

Drone stocks cover companies involved in designing, building and deploying unmanned aerial systems – from battlefield reconnaissance craft to commercial delivery networks. The nine names here run from pure-play drone hardware makers like Unusual Machines ($UMAC) and Red Cat Holdings ($RCAT) to companies where drones sit alongside far larger operations, such as Amazon.com ($AMZN).

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 6 October 2026.

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1. Amazon.com ($AMZN)

Amazon.com (AMZN) share price over the last year: started at US$220.90, ended at US$256.29, a change of +16.0%. 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$256.29 · Daily: 1.9% · Market cap: US$2.71T · Sector: Consumer Discretionary · Industry: Retail Stores

Amazon.com ($AMZN) runs a business that covers online and physical retail, consumer electronics and cloud computing. Its Amazon Web Services (AWS) segment provides on-demand computing, storage, database and machine learning services to startups, enterprises, government agencies and universities. $AMZN also makes and sells its own devices – Kindle e-readers, Echo smart speakers, Fire TV streamers and Ring security cameras. CEO Andrew Jassy leads a workforce of 1,576,000 people across North America, International and AWS segments.

Prime Air is Amazon.com's ($AMZN) aerial delivery program, aimed at flying packages directly to customers without a driver. Drone delivery is one piece of $AMZN's broader operations, which otherwise centre on retail and cloud services.

2. GE ($GE)

GE (GE) share price over the last year: started at US$298.22, ended at US$309.39, a change of +3.7%. Range over the period: high US$381.22, low US$273.25. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$309.39 · Daily: 1.0% · Market cap: US$317.85B · Sector: Industrials · Industry: Aerospace & Defence

GE Aerospace ($GE) builds the engines that power aircraft on both sides of the commercial and military divide. Its installed base runs to over 50,000 commercial engines and 30,000 military ones – a network that keeps the services business ticking long after the original sale. Maintenance contracts, spare parts agreements and long-term service deals make up a significant portion of what $GE actually earns day to day.

The defence side of the business sits in the Defense & Propulsion Technologies segment, which covers engines for military platforms as well as critical aircraft systems through its Defense & Systems and Propulsion & Additive Technologies units. That's where the drone connection comes in – propulsion and systems work for unmanned military platforms falls within this segment's remit. Brands like Avio Aero, Dowty Propellers and Colibrium Additive sit under this part of the business. With 57,000 employees and Larry Culp at the helm, $GE is a significantly larger industrial operation than the pure-play drone names elsewhere in this article.

For $GE, drones represent one application within a much broader aerospace portfolio rather than the core business.

3. Boeing ($BA)

Boeing (BA) share price over the last year: started at US$219.73, ended at US$189.82, a change of −13.6%. 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$189.82 · Daily: -1.5% · Market cap: US$152.32B · Sector: Industrials · Industry: Aerospace & Defence

Boeing ($BA) is best known for commercial jets – the 737, 767, 777 and 787 families that fill airline fleets worldwide – but its Defense, Space & Security segment also develops unmanned military aircraft and weapons systems for surveillance, strike and mobility roles.

That defence arm sits alongside a Global Services segment covering maintenance, spare parts, pilot training and supply chain support for both commercial and military customers. Kelly Ortberg leads the company, which employs around 182,000 people.

Drones are a real but relatively contained part of what $BA does. The bulk of its revenue and attention sits with commercial aviation and broader defence programs.

4. UPS ($UPS)

UPS (UPS) share price over the last year: started at US$86.62, ended at US$93.11, a change of +7.5%. Range over the period: high US$120.00, low US$82.87. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$93.11 · Daily: -0.03% · Market cap: US$79.24B · Sector: Industrials · Industry: Freight & Logistics

United Parcel Service ($UPS) moves parcels for a living – ground and air delivery across the U.S., plus international small package operations in Europe, the Middle East and Africa, Canada, Latin America and Asia. Under chief executive Carol Tomé, the company's 460,000 employees support everything from time-definite next-day air to residential ground service for non-urgent lightweight shipments.

Drone delivery sits alongside those far larger existing networks rather than defining them. $UPS also runs third-party logistics and cold chain transportation, giving it a foothold in temperature-sensitive supply chains. For a company operating at this scale, unmanned systems represent one thread in a much broader logistics operation.

5. Northrop Grumman ($NOC)

Northrop Grumman (NOC) share price over the last year: started at US$618.52, ended at US$483.11, a change of −21.9%. Range over the period: high US$768.02, low US$476.11. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$483.11 · Daily: 1.5% · Market cap: US$67.64B · Sector: Industrials · Industry: Aerospace & Defence

Northrop Grumman ($NOC) builds the systems that underpin large-scale military operations – from stealth aircraft and strategic missiles to the satellites and space systems that tie it all together. Its four segments cover aeronautics, defence systems, mission systems and space, with the U.S. Department of Defense and intelligence community as its principal customers.

Drones sit within that broader portfolio rather than at its centre. $NOC's unmanned aircraft work falls under Aeronautics Systems, alongside manned platforms and their sustained operation over decades. CEO Kathy Warden leads a workforce of 95,000 people across these programmes.

6. Kratos Defense ($KTOS)

Kratos Defense (KTOS) share price over the last year: started at US$100.25, ended at US$43.71, a change of −56.4%. Range over the period: high US$130.72, low US$42.02. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$43.71 · Daily: 4.0% · Market cap: US$7.89B · Sector: Industrials · Industry: Aerospace & Defence

Kratos Defense & Security Solutions ($KTOS) builds technology, products and software for the U.S. defence and national security ecosystem – its customers include the Department of Defense, intelligence agencies and classified programmes. The business runs through two segments: Kratos Government Solutions, which covers everything from microwave electronics and satellite systems to turbine technologies, and Unmanned Systems, which develops unmanned aerial, ground and seaborne vehicles along with their command and control infrastructure.

Under CEO Eric DeMarco, the company employs around 4,300 people. The unmanned systems side makes $KTOS one of the more directly drone-focused names in defence – but it sits alongside a substantial government services and electronics business that serves national security programmes well beyond the drone space.

7. AeroVironment ($AVAV)

AeroVironment (AVAV) share price over the last year: started at US$391.88, ended at US$143.54, a change of −63.4%. 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$143.54 · Daily: 3.0% · Market cap: US$7.08B · Sector: Industrials · Industry: Aerospace & Defence

AeroVironment ($AVAV) builds the unmanned systems that militaries use to see, strike, and survive. Its Autonomous Systems segment covers everything from small reconnaissance drones to uncrewed underwater vehicles and ground robots – hardware designed to operate across multiple environments without a pilot. A second segment, Space, Cyber, and Directed Energy, handles satellite-based platforms, cyber capabilities, and directed energy weapons.

The company's customers are primarily the U.S. Department of Defense, other federal agencies, and allied governments. CEO Wahid Nawabi leads a workforce of 3,991 people. That relatively compact headcount supports a range of capabilities that run well beyond conventional drone hardware into counter-drone technology and electronic warfare.

8. Unusual Machines ($UMAC)

Unusual Machines (UMAC) share price over the last year: started at US$16.21, ended at US$22.36, a change of +37.9%. Range over the period: high US$34.06, low US$7.76. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$22.36 · Daily: 2.4% · Market cap: US$1.09B · Sector: Industrials · Industry: Aerospace & Defence

Unusual Machines ($UMAC) operates across two distinct channels: selling drone components and complete drones to businesses, and reaching consumers directly through its Rotor Riot e-commerce store. Rotor Riot grew out of a community of first-person view (FPV) drone pilots – people who fly acrobatic, high-speed craft using goggles that stream live video from the drone itself. That community connection is the foundation of the retail side of the business.

The other pillar is Fat Shark, a brand under $UMAC's portfolio that designs ultra-low latency video goggles for drone pilots. Beyond goggles, $UMAC makes the hardware that goes inside drones: electric motors, propulsion systems, flight controllers, cameras and electronic speed controllers. Allan Evans leads the company, which employs 141 people.

9. Red Cat Holdings ($RCAT)

Red Cat Holdings (RCAT) share price over the last year: started at US$14.58, ended at US$6.34, a change of −56.5%. 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$6.34 · Daily: -0.2% · Market cap: US$969.0M · Sector: Industrials · Industry: Aerospace & Defence

Defence-focused drone work sits at the centre of what Red Cat Holdings ($RCAT) does. Its two wholly owned subsidiaries – Teal Drones and FlightWave Aerospace Systems – develop hardware and software for military, government, and public safety operations.

The product catalogue includes several distinct platforms: the Arachnid Family of Systems, Hellcat, Short Range Recon variants, a First Person View system, and Command & Control software. $RCAT also develops long-endurance, vertical takeoff and landing fixed-wing aircraft – a different class from its compact small uncrewed aircraft systems.

Beyond the air, $RCAT has expanded into uncrewed surface vessels, extending its approach into waterborne operations. Jeff Thompson leads the company, which employs 244 people.

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Common questions

How do I invest in drone stocks in New Zealand?

Every stock in this list trades on U.S. exchanges, so you'd access them through a share trading platform that covers U.S. markets. You search by ticker and place an order during U.S. trading hours. The mechanics work the same way whether you're buying into a large industrial conglomerate or one of the smaller drone-focused names.

What are the key risks of drone stocks?

Some of the key risks include regulatory uncertainty around commercial drone operations, dependence on government defence contracts that can shift with budget decisions, and the execution risk that comes with developing complex technology systems. For NZ investors, the NZD/USD exchange rate is also a factor – it affects what you pay for shares and what any sale proceeds are worth in New Zealand dollars. Smaller companies, where drones make up a larger share of revenue, tend to carry more exposure to any single contract outcome or product launch than the large diversified names on this list.

How does drone exposure differ across the companies on this list?

The companies here sit at very different points in terms of how central drones are to what they do. $UMAC and $RCAT are built around drone hardware and systems – that's the core of their business. $KTOS and $AVAV each run a dedicated unmanned systems segment alongside broader defence capabilities, so drones are significant but not the whole story. For $AMZN, $GE, $BA, $UPS and $NOC, drone-related activity sits within a much larger, more diversified operation, and their share prices respond to many factors well beyond drone-specific developments.

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.

This is not personal financial advice nor a recommendation to invest in the securities listed. Any advice provided by Stake is of general nature only and does not take into account your specific circumstances. Trading and volume data from the Stake investing platform is for reference purposes only, the investment choices of others may not be appropriate for your needs and is not a reliable indicator of performance.

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