What are the most valued startups in the military drones market?

Last updated: 13 July 2026

In our updated market reports, you will find everything you need

This page tracks the most valuable startups in the military drones market, using the latest reported or estimated company valuations.

We update this military drone startup ranking every month as funding rounds, acquisitions, public market movements and new disclosures become available.

The database covers drone manufacturers, autonomous defense platforms, counter-drone specialists, reconnaissance systems, loitering munitions and supporting technologies.

A quick summary table

Metric	Value
Most valuable military drone startup	Anduril Industries, $61.0B
Second most valuable military drone startup	Helsing, $16.0B–$18.0B
Median military drone startup valuation	Approximately $75M
Share of military drone valuation captured by top 10	Approximately 86%
Top military drone valuation vs. median	Approximately 813 times
Median valuation-to-capital-raised ratio	Approximately 4.5 times
Military drone startups valued at $1B+	15

Top startups in the military drones market ranked by valuation

Here is an updated table that ranks the top startups in the military drones market based on their latest reported or estimated valuations.

#	Startup Name	What They Do	Current Valuation ($)	Valuation Confidence Level	Valuation Type	Evidence Status	Total Funding ($)	Funding Confidence Level
1	Anduril Industries	Autonomous defense systems platform	$61.0B	Full Confidence	Announced Private Round Valuation	Observed	$11.3B	Full Confidence
2	Helsing	AI defense autonomous systems	$16.0B–$18.0B	Strong Confidence	Active Raise Valuation	Estimated	$2.7B	Strong Confidence
3	Shield AI	Autonomous aircraft AI pilots	$12.7B	Full Confidence	Announced Private Round Valuation	Observed	$2.3B	Partial Confidence
4	Saronic Technologies	Autonomous military surface vessels	$9.3B	Full Confidence	Announced Private Round Valuation	Observed	$2.6B	Strong Confidence
5	Quantum Systems	AI military reconnaissance drones	$7.8B–$8.2B	Strong Confidence	Announced Private Round Valuation	Observed	$1.8B	Strong Confidence
6	Skydio	Autonomous American drone systems	$4.4B	Full Confidence	Announced Private Round Valuation	Observed	$825M	Strong Confidence
7	Stark	Weaponized autonomous drone systems	$3.7B–$4.1B	Strong Confidence	Announced Private Round Valuation	Observed	$667M	Partial Confidence
8	UVision	Loitering munition systems	$2.5B–$4.0B	Partial Confidence	IPO or Listing Range Valuation	Estimated	$67M	Low Confidence
9	AEVEX Aerospace	Military unmanned systems contractor	$2.0B	Full Confidence	Public Market Cap	Observed	$475M	Strong Confidence
10	Robin Radar Systems	Drone and bird detection radar	$1.7B–$2.0B	Strong Confidence	Active Raise Valuation	Estimated	$26M	Partial Confidence
11	TEKEVER	AI-enabled surveillance reconnaissance drones	$1.3B–$1.6B	Strong Confidence	Announced Private Round Valuation	Estimated	$97M	Partial Confidence
12	Epirus	High-power microwave counter-drone systems	$1.2B–$1.7B	Strong Confidence	Comparables-Based Estimate	Estimated	$537M	Partial Confidence
13	DroneShield	AI counter-drone defense systems	$1.4B	Full Confidence	Public Market Cap	Observed	$190M	Partial Confidence
14	HevenDrones	Hydrogen-powered defense UAV systems	$1.0B	Full Confidence	Announced Private Round Valuation	Observed	$115M	Partial Confidence
15	Raphe mPhibr	Indian military UAV manufacturer	$900M–$1.1B	Strong Confidence	Announced Private Round Valuation	Estimated	$145M	Partial Confidence
16	MyDefence	Portable counter-drone detection jamming	$800M–$1.1B	Partial Confidence	Active Raise Valuation	Implied	$4M	Low Confidence
17	Edge Autonomy	Combat-proven uncrewed aircraft	$925M	Strong Confidence	Acquisition Value	Observed	Not provided	Strong Confidence
18	TAF Drones	Mass-produces FPV combat drones	$900M–$1.4B	Partial Confidence	Revenue or ARR Multiple Estimate	Estimated	Not provided	Not provided
19	Firestorm Labs	Expeditionary drone manufacturing systems	$550M–$1.0B	Partial Confidence	Implied Valuation from Raise	Implied	$130M	Strong Confidence
20	Neros Technologies	Low-cost combat drone manufacturing	$500M–$950M	Partial Confidence	Implied Valuation from Raise	Implied	$121M	Strong Confidence
21	Swarmer	AI drone-swarm coordination software	$713M	Full Confidence	Public Market Cap	Observed	$35M	Strong Confidence
22	XTEND	AI tactical drone robotics	$450M–$875M	Partial Confidence	Implied Valuation from Raise	Implied	$90M	Strong Confidence
23	Ukrspecsystems	Long-range military reconnaissance drones	$400M–$650M	Partial Confidence	Revenue or ARR Multiple Estimate	Estimated	Not provided	Not provided
24	Dedrone	Smart counter-drone airspace security	$503M	Full Confidence	Acquisition Value	Observed	$130M	Strong Confidence
25	Terra Drone	Drone inspection traffic management	$465M	Full Confidence	Public Market Cap	Observed	$98M	Strong Confidence
26	ideaForge	Indian defense UAV manufacturer	$435M	Full Confidence	Public Market Cap	Observed	$83M	Strong Confidence
27	Dominion Dynamics	Arctic autonomous defense systems	$380M–$420M	Strong Confidence	Announced Private Round Valuation	Observed	$115M	Strong Confidence
28	Skyeton	Long-endurance military reconnaissance drones	$300M–$500M	Partial Confidence	Comparables-Based Estimate	Estimated	Not provided	Not provided
29	Dronamics	Long-range autonomous cargo aircraft	$250M–$400M	Partial Confidence	Implied Valuation from Raise	Implied	$78M	Partial Confidence
30	High Point Aerotechnologies	Integrated counter-drone defense platform	$250M–$400M	Low Confidence	Acquisition Value	Estimated	$0M	Not provided
31	Garuda Aerospace	Drone manufacturing operating services	$250M–$350M	Strong Confidence	IPO or Listing Range Valuation	Estimated	$50M	Partial Confidence
32	Vyriy Drone	Mass-produced battlefield FPV drones	$230M–$360M	Strong Confidence	Revenue or ARR Multiple Estimate	Estimated	Not provided	Not provided
33	Elroy Air	Autonomous cargo VTOL aircraft	$220M–$360M	Partial Confidence	Comparables-Based Estimate	Estimated	$116M	Partial Confidence
34	D-Fend Solutions	Cyber takeover counter-drone technology	$220M–$320M	Partial Confidence	Implied Valuation from Raise	Implied	$66M	Strong Confidence
35	Aeronautics Group	Israeli military unmanned aircraft systems	$235M	Full Confidence	Acquisition Value	Observed	$40M	Strong Confidence
36	Sentrycs	Cyber-over-RF counter-drone systems	$225M	Strong Confidence	Acquisition Value	Observed	$0M	Low Confidence
37	SkySafe	Cloud-based drone detection systems	$170M–$250M	Partial Confidence	Implied Valuation from Raise	Implied	$49M	Strong Confidence
38	Wingtra	VTOL mapping reconnaissance drones	$170M–$230M	Strong Confidence	Implied Valuation from Raise	Implied	$58M	Partial Confidence
39	Darkhive	Autonomous tactical drones software	$160M–$230M	Partial Confidence	Comparables-Based Estimate	Estimated	$25M	Full Confidence
40	Terra Industries	Autonomous African infrastructure defense systems	$150M–$220M	Strong Confidence	Implied Valuation from Raise	Implied	$34M	Strong Confidence
41	Fortem Technologies	Radar-guided counter-drone interceptors	$140M–$190M	Partial Confidence	Comparables-Based Estimate	Estimated	$69M	Partial Confidence
42	NewSpace Research and Technologies	Military swarm drone systems	$120M–$180M	Partial Confidence	Revenue or ARR Multiple Estimate	Estimated	$57M	Partial Confidence
43	CERBAIR	Anti-drone detection and mitigation	$90M–$140M	Partial Confidence	Revenue or ARR Multiple Estimate	Estimated	$8M	Strong Confidence
44	FRDM Group	Battlefield drones defense systems	$70M–$130M	Low Confidence	Comparables-Based Estimate	Estimated	Not provided	Not provided
45	Donecle	Autonomous aircraft inspection drones	$75M–$120M	Strong Confidence	Implied Valuation from Raise	Implied	$19M	Strong Confidence
46	WhiteFox Defense	Counter-drone airspace security	$70M–$120M	Low Confidence	Comparables-Based Estimate	Estimated	$32M	Full Confidence
47	Roboneers	Battlefield unmanned ground vehicles	$70M–$120M	Low Confidence	Comparables-Based Estimate	Estimated	Not provided	Not provided
48	DELAIR	Long-range intelligence surveillance UAVs	$70M–$110M	Partial Confidence	Comparables-Based Estimate	Estimated	$17M	Strong Confidence
49	BlueBird Aero Systems	Tactical fixed-wing military UAVs	$65M–$105M	Partial Confidence	Comparables-Based Estimate	Estimated	Not provided	Not provided
50	Athlon Avia	Tactical reconnaissance unmanned aircraft	$50M–$100M	Low Confidence	Comparables-Based Estimate	Estimated	Not provided	Not provided
51	UAV Factory	Tactical UAV and ISR platforms	$55M–$95M	Low Confidence	Acquisition Value	Estimated	Not provided	Not provided
52	Malloy Aeronautics	Heavy-lift tactical cargo drones	$77M	Strong Confidence	Acquisition Value	Observed	Not provided	Not provided
53	Vermeer	GPS-denied visual drone navigation	$55M–$85M	Strong Confidence	Implied Valuation from Raise	Implied	$17M	Partial Confidence
54	DeViRo	Leleka reconnaissance drone manufacturer	$45M–$85M	Low Confidence	Comparables-Based Estimate	Estimated	Not provided	Not provided
55	DeltaQuad	Long-range electric VTOL UAVs	$45M–$80M	Partial Confidence	Implied Valuation from Raise	Implied	Not provided	Not provided
56	Terminal Autonomy	Autonomous long-range strike drones	$40M–$80M	Low Confidence	Comparables-Based Estimate	Estimated	Not provided	Not provided
57	Farsight	Battlefield mapping drone autonomy	$35M–$60M	Strong Confidence	Implied Valuation from Raise	Implied	$9M	Full Confidence
58	Callen-Lenz	Bespoke military unmanned aircraft	$35M–$60M	Low Confidence	Acquisition Value	Estimated	$7M	Strong Confidence
59	Overwatch Imaging	AI-powered airborne surveillance imaging	$35M–$55M	Partial Confidence	Implied Valuation from Raise	Implied	$17M	Partial Confidence
60	UAVOS	Industrial military unmanned systems	$30M–$55M	Low Confidence	Comparables-Based Estimate	Estimated	Not provided	Not provided
61	Regulus Cyber	GNSS spoofing drone protection	$25M–$45M	Low Confidence	Revenue or ARR Multiple Estimate	Estimated	$10M	Strong Confidence
62	Reactive Drone	Military agricultural drone systems	$25M–$45M	Low Confidence	Revenue or ARR Multiple Estimate	Estimated	Not provided	Not provided
63	Atlas Aerospace	Military reconnaissance drone systems	$24M–$40M	Partial Confidence	Comparables-Based Estimate	Estimated	$6M	Low Confidence
64	ModalAI	Drone autonomy computing platforms	$25M–$40M	Low Confidence	Revenue or ARR Multiple Estimate	Estimated	Not provided	Not provided
65	Highcat	Modular military reconnaissance drones	$20M–$40M	Low Confidence	Implied Valuation from Raise	Estimated	Not provided	Not provided
66	Easy Aerial	Autonomous drone-in-a-box systems	$20M–$35M	Low Confidence	Comparables-Based Estimate	Estimated	$6M	Partial Confidence
67	SkyLab UA	Battlefield ground robotic systems	$18M–$35M	Low Confidence	Comparables-Based Estimate	Estimated	Not provided	Not provided
68	Elistair	Tethered surveillance drone systems	$20M–$34M	Partial Confidence	Comparables-Based Estimate	Estimated	$8M	Strong Confidence
69	Unmanned Defense Systems	Battlefield UAV swarm systems	$18M–$30M	Partial Confidence	Implied Valuation from Raise	Implied	$4M	Full Confidence
70	BonV Aero	Heavy-lift logistics drones	$18M–$30M	Partial Confidence	Implied Valuation from Raise	Implied	$6M	Partial Confidence
71	Ascent AeroSystems	Coaxial tactical industrial drones	$15M–$30M	Low Confidence	Proxy-Based Estimate	Estimated	$1M	Partial Confidence
72	Spaitech	Composite military unmanned aircraft	$15M–$30M	Low Confidence	Comparables-Based Estimate	Estimated	Not provided	Not provided
73	Aero Sentinel	Tactical surveillance drone systems	$15M–$30M	Low Confidence	Proxy-Based Estimate	Estimated	Not provided	Not provided
74	Frontline Robotics	Drones robotic weapon stations	$14M–$28M	Partial Confidence	Implied Valuation from Raise	Implied	$0M	Partial Confidence
75	Origin Robotics	Reusable autonomous defense drones	$15M–$25M	Partial Confidence	Implied Valuation from Raise	Implied	$3M	Strong Confidence
76	General Aeronautics	Agricultural specialized aerial systems	$16M–$25M	Partial Confidence	Implied Valuation from Raise	Implied	$7M	Partial Confidence
77	Volansi	Long-range cargo VTOL drones	$10M–$25M	Low Confidence	Proxy-Based Estimate	Estimated	$75M	Partial Confidence
78	Flying-Cam	Professional single-rotor aerial platforms	$10M–$25M	Low Confidence	Proxy-Based Estimate	Estimated	Not provided	Not provided
79	Airlogix	Long-range unmanned aerial systems	$13M–$20M	Strong Confidence	Implied Valuation from Raise	Implied	$3M	Strong Confidence
80	Flyby Guys	Enterprise drone operations services	$10M–$20M	Low Confidence	Proxy-Based Estimate	Estimated	Not provided	Not provided
81	FLY-R	Rhomboidal-wing unmanned aircraft systems	$8M–$18M	Low Confidence	Proxy-Based Estimate	Estimated	Not provided	Not provided
82	Bavovna AI	GPS-denied autonomous navigation systems	$11M–$18M	Strong Confidence	Implied Valuation from Raise	Implied	$3M	Partial Confidence
83	FlightWave Aerospace	Long-range VTOL reconnaissance drones	$14M	Strong Confidence	Acquisition Value	Observed	$8M	Partial Confidence
84	FlyingBasket	Heavy cargo delivery drones	$8M–$15M	Low Confidence	Comparables-Based Estimate	Estimated	$2M	Partial Confidence
85	Zulu Defence Systems	Tactical air-defense drone systems	$11M–$13M	Strong Confidence	Announced Private Round Valuation	Observed	$1M	Strong Confidence
86	Flying Wedge Defence	AI-controlled combat aircraft systems	$9M–$13M	Partial Confidence	Proxy-Based Estimate	Estimated	$1M	Low Confidence
87	Performance Rotors	Confined-space inspection drone systems	$7M–$14M	Low Confidence	Acquisition Value	Estimated	Not provided	Not provided
88	Parallel Flight Technologies	Heavy-lift hybrid electric drones	$4M–$10M	Low Confidence	Proxy-Based Estimate	Estimated	$9M	Partial Confidence
89	ISS Aerospace	Persistent autonomous surveillance aircraft	$3M–$5M	Partial Confidence	Announced Private Round Valuation	Observed	Not provided	Not provided
90	Apollyon Dynamics	High-speed kamikaze UAVs	$3M	Full Confidence	Announced Private Round Valuation	Observed	$0M	Low Confidence
91	Ailand Systems	Autonomous aerial mine detection	$2M–$4M	Partial Confidence	Implied Valuation from Raise	Implied	$0M	Strong Confidence
92	UADamage	AI aerial landmine detection	$2M–$4M	Partial Confidence	Implied Valuation from Raise	Implied	$0M	Partial Confidence
93	Flying Robots	Heavy-load soft-wing aerial vehicles	$1M–$3M	Low Confidence	Proxy-Based Estimate	Estimated	Not provided	Not provided
94	Animal Dynamics	Bio-inspired cargo drone systems	$0M–$3M	Low Confidence	Proxy-Based Estimate	Estimated	$10M	Partial Confidence
95	Innocon	Micro tactical military UAVs	$1M–$2M	Strong Confidence	Acquisition Value	Observed	Not provided	Not provided
96	Aerorozvidka	Nonprofit drone-warfare support organization	$0M–$2M	Low Confidence	Proxy-Based Estimate	Estimated	$0M	Not provided

Key valuation trends in the military drones market

Insights

Anduril Industries accounts for about 42% of the combined valuation represented in this military drones ranking, showing how strongly the market is concentrated around one integrated defense platform.
The ten most valuable military drone companies represent approximately 86% of total estimated market value, while the median company is worth only about $75M.
Anduril Industries is valued at roughly 813 times the median military drone startup, which illustrates the unusually wide gap between established defense platforms and smaller specialist suppliers.
European defense technology companies hold several positions between $1B and $18B, showing that Europe now has a meaningful military drone financing ecosystem alongside the United States.
Counter-drone specialists usually require less capital than full aircraft manufacturers, but DroneShield, Dedrone, Epirus and Robin Radar Systems show that focused defensive capabilities can still support major valuations.
Hardware-intensive military drone companies commonly trade at three to six times their disclosed funding, while software, autonomy and radar specialists can achieve much higher ratios when the technology is strategically scarce.
Saronic Technologies has a valuation-to-funding ratio near 3.6 times, which is lower than many software-led defense companies but consistent with the capital requirements of autonomous maritime manufacturing.
Quantum Systems is valued at approximately 4.4 times its funding, reflecting investor demand for battlefield-tested reconnaissance drones and scalable European production capacity.
Dedrone’s $503M acquisition value was almost four times its disclosed funding, showing that strategically important counter-drone software can generate meaningful outcomes without billion-dollar capital formation.
Public and acquisition valuations are strongest among companies with deployed systems, recurring government demand, domestic manufacturing capacity or regulatory advantages, rather than companies relying mainly on prototypes.

A few word about our methodology

As you can see, we built a database that ranks startups in the military drones market based on their current valuation.

Estimating military drone startup valuations is not always straightforward. Many defense technology companies do not publicly disclose their valuation, and available information can vary widely by company, country and development stage.

To build this ranking, we applied a structured valuation methodology and cross-checked information across multiple reliable sources.

Whenever possible, we relied on direct disclosures. These include announced valuations from completed funding rounds, public filings for listed companies and official acquisition prices.

When a military drone company is publicly listed, we use its current market capitalization as the reference valuation.

If a company was acquired and no independent valuation can reasonably be estimated today, we use the acquisition price as the main reference point.

When a military drone startup recently raised capital but did not disclose its valuation, we estimate the implied valuation using typical dilution levels for that fundraising stage.

In some cases, we estimate valuations using operating metrics such as revenue, contract value, production capacity or customer traction, combined with valuation multiples from comparable defense technology companies.

When direct financial data is unavailable, we may rely on carefully selected comparable companies and other signals such as government contracts, deployed systems, manufacturing growth, investor quality and product traction.

For military drone manufacturers, we also consider factors such as production capacity, battlefield deployment, procurement relationships, regulatory approval and access to secure domestic supply chains.

For autonomy software and counter-drone companies, we assess software differentiation, sensor performance, integration capabilities, recurring revenue and the strategic importance of the technology.

All estimates follow a strict evidence hierarchy. Recent funding rounds with announced valuations carry the most weight, followed by public market data, acquisition prices, strong operating metrics and comparable company analysis.

We carefully evaluate the age of every data point. Recent information carries more weight, while older data is treated cautiously and adjusted conservatively when necessary.

Whenever information is uncertain or incomplete, we clearly distinguish between confirmed facts and reasonable inferences.

Because military drone valuation data is not always public, each startup in the ranking is assigned a confidence level based on the reliability, recency and consistency of the available evidence.

Full confidence means the valuation is supported by strong and recent evidence. Strong confidence means the estimate is well supported but includes minor inference. Partial confidence means the estimate relies more heavily on indirect signals. Low confidence means available information is limited or inconsistent.

When confidence is lower, we take a more conservative approach by widening the valuation range. This reflects the uncertainty and increases the probability that the true valuation falls within the estimated range.

In a world where LLMs hallucinate and unreliable information is everywhere, our goal is simple: provide data you can trust.

If you want the full detail on a specific valuation estimate, feel free to contact us and we will gladly explain.

Finally, know that we update the dataset once per month, so come back here if you need fresh information.

Related blog posts

- What are the key fundraising trends in the military drones market?

- The most heavily funded startups in the military drones market

- What does funding activity look like in the military drones market?

- A complete overview of funding deals in the military drones market

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