10 Best Military Drone Stocks to Buy Now

6. L3Harris Technologies, Inc. (NYSE:LHX)

Number of Hedge Fund Holders: 48

L3Harris Technologies, Inc. (NYSE:LHX) is known for its wireless and night vision equipment, command and control systems, avionics, and terrestrial and spaceborne antennas. It is also considered a leader in unmanned and autonomous systems.

In November last year, the Defense Innovation Unit (DIU) selected L3Harris Technologies, Inc. (NYSE:LHX) to develop a command and control system prototype that can simultaneously operate thousands of autonomous assets. The project is in line with the DoD’s Replicator initiative to enhance America’s military posture through swarms of uncrewed aircraft, seacraft, and ground vehicles.

On February 10, L3Harris Technologies, Inc. (NYSE:LHX) announced the launch of its new software, AMORPHOUS, featuring a single user interface to operate thousands of autonomous assets at the same time. It is designed with an open architecture and will allow the US military to control a mix of platforms, payloads, and systems simultaneously, even if they are manufactured by another producer.

L3Harris Technologies, Inc. (NYSE:LHX) is an important player in America’s defense sector, and the stock’s appeal among investors has further enhanced through recent strategic contract awards. This year, it clinched a $263 million deal from the US Army in January for additional Enhanced Night Vision Goggle–Binocular (ENVG-B) systems. In March, the company signed a long-term agreement, valued at up to 1 billion euros, with the Netherlands for Falcon IV radios for the FOXTROT program.

On April 24, L3Harris Technologies, Inc. (NYSE:LHX) announced financial results for the first quarter of fiscal 2025. It reported a revenue of $5.13 billion, down 1.5% from last year and lower than analysts’ estimates of $5.22 billion. The company’s non-GAAP diluted EPS was logged at $2.41, improving 7% year-over-year and beating expectations by 9 cents. It is one of the best drone stocks to buy.