10 Best Military Drone Stocks to Buy Right Now

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

Number of Hedge Fund Holders: 48

L3Harris Technologies, Inc. (NYSE:LHX) is among the 10 Best Military Drone Stocks to Buy Right Now. On Monday, the company announced that it had received a seven-year contract worth around $465 million from the U.S. Army under the Binocular Night Observation Device (BiNOD) program.

The defense contractor is one of the companies chosen to support the program. Under the agreement, the company will supply its NOVA night-vision goggle system to the Army.

The binocular device is placed on a helmet, which helps in enhancing the capabilities of troops through continuous situational awareness. NOVA is built using L3Harris Technologies, Inc. (NYSE:LHX)’s image intensifier technology.

In other news, this week the company said that it had successfully demonstrated an autonomous electronic warfare capability during a U.S. Army experiment. The test featured the deployment of its Deceptor electronic warfare payload on several uncrewed aerial systems.

According to the press release, the system was able to detect and identify the location of radio frequency threats and use data from various sensors to execute jamming operations to counteract those threats in real time.

L3Harris Technologies, Inc. (NYSE:LHX) provides advanced national security solutions in the air, land, space, sea, and cyber domains. It operates through four segments: Communication Systems, Integrated Mission Systems, Space & Airborne Systems, and Aerojet Rocketdyne.

While we acknowledge the potential of LHX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than LHX and that has 100x upside potential, check out our report about the cheapest AI stock.

Click to continue reading and see the 5 Best Military Drone Stocks to Buy Right Now.

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