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Business/Financial

Leonardo DRS Invests In Tethered Drone Developer Hoverfly

By Cal Biesecker

Wednesday, October 14th, 2020

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Leonardo DRS Invests In Tethered Drone Developer Hoverfly

Hoverfly Technologies' LiveSky tethered unmanned aerial system. Photo: Hoverfly

Leonardo DRS on Tuesday said it has invested in tethered drone designer and developer Hoverfly Technologies, a partnership that will bring Leonardo DRS’ capabilities in manufacturing, platform integration and sensor development. The amount of the investment wasn’t disclosed. Hoverfly, based in Orlando, Fla., has awarded Leonardo DRS $4 million to manufacture 50 of the company’s LiveSky tethered unmanned aerial systems (TUAS) at its facilities in St. Louis, Mo. A spokesman for Leonardo DRS told Defense Daily that the company expects…

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