The drone economy is finally leaving the launch pad. From last-mile delivery and agriculture to autonomous defense systems, drones are becoming critical infrastructure across a growing number of industries. As adoption accelerates and new use cases emerge, investors are beginning to follow the capital.

Clearing the airspace: DoorDashDASH

cleared an important hurdle in drone delivery. The company received a key FAA certification for commercial operations and is building its own aircraft for the first time. It also plans to build the network behind it, covering routing, order fulfillment, and store handoffs. However, the drone is only one piece of the business.

• The company will manufacture US-made drones with most components sourced domestically, though the company hasn't disclosed production numbers yet.
• DoorDash previously relied on drone partners like Wing, a unit of AlphabetGOOGL
  , and Flytrex, and says it'll continue those partnerships alongside its own fleet.

The Defense Drone Economy

On the defense side, AeroVironmentAVAV

and Applied Intuition recently tested drone swarm coordination using AVAV's Mayhem 10 and Applied's Acuity ISR/Strike software. The Mayhem 10 carries a 10-pound payload, operates beyond 62 miles, and can be assembled and launched in under five minutes. Applied Intuition was valued at $15B last summer, signaling serious institutional confidence in defense autonomy software.

• The US government has earmarked $54.6B for the Pentagon's Defense Autonomous Warfare Group (DAWG) in fiscal 2027.
• NATO has approved ~$40B in drone-related spending across Europe over the next five years, broadening the addressable market well beyond US borders.

Picking the basket: Investors looking for diversified exposure can also turn to ETFs. The REX Drone ETFDRNZ

focuses on companies developing drones and autonomous technologies, while the JEDI ETFJEDI

invests across defense, aerospace, and national security. The S&P Kensho Drones Index has returned 23.3% over the past 12 months, though it's down 3.3% in July amid profit-taking and company-specific setbacks. One advisor described drones as "physical AI," but said the sector has yet to earn the same valuation premium as software AI. With government spending climbing, manufacturing capability may prove just as important as innovation.