Global market of drone stock is projected to reach UUS$63.05 billion by 2028 at 16.01% of CAGR

Drones are becoming a component of the smart transportation services that are offered commercially to firms and customers. Drones powered by AI rely heavily on computer vision. It can identify things while flying, analyze and collect data on the ground, and so much more. According to Verified Market Research, the Global Drones Market size was valued at US$19.23 Billion in 2020 and is projected to reach US$63.05 Billion by 2028, growing at a CAGR of 16.01% from 2021 to 2028. In this article, you can look for the best drone stock between Ambarella and Northrop Grumman to invest in in 2022.

Ambarella develops semiconductor processing solutions for high-definition video capture, sharing, and display. The company's advanced computer vision features include obstacle avoidance, target tracking, and fully autonomous navigation. These features are helping transform drones from fun novelties to indispensable tools for business and recreation. CFRA analyst Keven Young says Amarella has large, long-term growth opportunities in both the surveillance and autonomous technology markets. Recent deals with electric vehicle maker Rivian Automotive Inc. (RIVN) and fleet management company KeepTruckin reinforce Young's bullish outlook, and he says Ambarella's home security camera business is gaining traction. Its current drone stock price is US$76.85, 3.60% down from the previous close.

Northrop Grumman is one of the world's largest weapons and military technology producers. Northrop offers a number of UAVs, autonomous systems, and other products designed to help customers meet a wide variety of missions. Top Northrop unmanned products include the MQ-4C Triton UAS, the RQ-4 Global Hawk UAS, and the MQ-8B and MQ-8C Fire Scout autonomous helicopters. Bank of America analyst Ronald Epstein says Northrop and other defense stocks should have significant valuation upside as the U.S. and European defense budgets rise following the Ukraine conflict. Its current drone stock price is US$463.82, a 0.19% rise from the previous close.