Volatus Aerospace: When Will the Stock Take Off?
The Canadian company has successfully positioned itself as an integrated provider of autonomous aviation systems, reconnaissance, software, training, and defence technologies—including those based on its own platforms. As a result, the company is benefiting massively from the rapidly rising demand from military forces and government agencies and has firmly established itself within the NATO community.
Many of Volatus’ technologies follow the dual-use principle and deliver value in both civilian and military applications. For civilian customers, Volatus inspects energy infrastructure and pipelines, among other things. The dual-use approach offers several advantages. It enables Volatus to tap into larger markets, collect valuable operational data across diverse environments, and reduce its dependence on individual industries or government defence budgets. At the same time, the systems developed and the expertise gained can be applied to other applications.
SKYDRA is a key component of this scalable, high-margin growth. Launched in March 2026, the Software-as-a-Service platform is designed to support organizations in planning, simulating, and preparing for operations against hostile or unauthorized drones. Armed forces, security agencies, airports, and energy providers can use it to virtually run through threat scenarios and test their operational readiness.
In addition to SKYDRA, Volatus is developing V-Cortex, its own platform for flight control and autonomous operations. With the help of artificial intelligence and local data processing, drones can be navigated safely even when GPS and other satellite signals are disrupted or fail completely. Independence from external navigation is of crucial importance, particularly for military missions.
Despite the increasing focus on software, hardware and manufacturing remain an essential part of the strategy. In June, Volatus commissioned a production and integration facility spanning approximately 53,000 square feet at Montréal-Mirabel Airport. There, autonomous systems, drone stations, and, in the future, the company’s own aircraft will be assembled and integrated for Canada and allied NATO countries.
The facility strengthens Volatus’s position as a domestic supplier at a time when Canada and other NATO countries are seeking to exert greater control over their security-related supply chains. Canada’s Defence Industrial Strategy, unveiled in February 2026, plays right into Volatus’s hands. The Canadians aim to reduce their dependence on foreign defence suppliers and to build a robust domestic defence industry. An initial budget of CAD 6.6 billion over five years has been allocated for this purpose. Volatus was also selected for the second test phase of the United States’ USD 1.1 billion Drone Dominance Program.
Volatus has built a broad network of technology partners, government clients, and research institutions. Collaborations with Kraus Hamdani, Dufour Aerospace, Singular Aircraft, and Ondas expand the company’s offerings to include autonomous reconnaissance, transport, and surveillance systems. Through Ucan Brave Tech, Volatus also gains access to a Canadian-Ukrainian network that aims to industrialize and market war-tested drone, defence, and autonomous technologies internationally.
As of mid-year, the company sat on a comfortable cash cushion of CAD 59.2 million, resulting primarily from a completed capital increase. Heavy investments in personnel, sales, research, and manufacturing generally weigh on profitability and lead to losses. Although revenue rebounded in Q2 compared to a weak first quarter, it remained about 20% below the prior-year figure at CAD 8.42 million, which the company attributed to supply chain issues. At a current share price of CAD 0.51, the company is valued at CAD 370 million. Analysts’ average price target is just under CAD 1, indicating significant upside potential.
Hensoldt: The Eyes and Ears of Defence
Hensoldt supplies radar, optronic, and sensor systems for air, land, sea, and space applications, thereby occupying a key position in drone defence. The company has evolved from a component supplier to a systems integrator for “Software-Defined Defence.” Revenues from integration, updates, and system maintenance are improving margins.
Business performance is dynamic. In the first six months of the current fiscal year, order intake doubled to EUR 2.81 billion, bringing total order intake to a record EUR 10.36 billion. Revenue rose by 23.6% to EUR 1.17 billion, while adjusted EBITDA improved disproportionately by 28.5% to EUR 137 million. The full-year guidance, with revenue of EUR 2.75 billion and an adjusted EBITDA margin between 18.5% and 19%, thus suggests significantly stronger momentum in the second half of the year.
The market has already priced in a significant portion of this growth. Based on the revenue target for 2026, the market capitalization is roughly four times that figure. The 2027 P/E ratio stands at an impressive 44. The majority of analysts believe the stock is fairly valued at its current level.
Deutsche Telekom: When the Mobile Network Becomes a Sensor
Deutsche Telekom’s core business consists of mobile, fixed-line, internet, and IT services, with predominantly recurring service revenues. The most important profit driver is its majority stake in T-Mobile US, which accounts for about two-thirds of the parent company’s revenue and operating income. Analysts estimate that Deutsche Telekom shares have an upside of just under 30%.
But back to the topic of drones. Protection against drones is increasingly becoming a network and data issue, making this area more relevant to telecommunications companies. The agreement between Deutsche Telekom and the defence contractor Rheinmetall, signed in May, brings this into concrete focus. The two companies are joining forces to jointly develop a protective shield against drones and sabotage for cities and critical infrastructure in Germany.
This multi-threat protection approach combines cybersecurity with physical protection. Telekom is contributing connectivity, cloud technology, and data analysis to the effort. The system will utilize, among other things, video, audio, radio frequency, and Remote ID sensors, as well as drone radar. The existing mobile network infrastructure plays a crucial role here, as it is essentially intended to serve as a large-scale sensor.
The drone security market is evolving into an interplay of aviation, sensor technology, telecommunications, and software. With its integrated approach, Volatus Aerospace addresses nearly every level of this value chain. The Canadian company thus represents a very exciting way to capitalize on the connected drone boom. Analysts are bullish. Through its business activities, Hensoldt also represents a key component of the security and defence industry. While its large order backlog provides significant operational visibility, the company’s valuation is ambitious. Deutsche Telekom is a rock-solid network infrastructure stock. Analysts see nearly 30% upside potential for the shares.
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