The United States is looking to take on China’s dominance in the drone market, by offering an American alternative.
The Pentagon said it was hoping to recruit investors to invest in small American drones.
An article from CNN detailed how it is the first effort under a new Defense Department program aimed at linking “trusted” sources of private capital with “innovative companies critical to defense industrial base and national security.”
Undersecretary of defese for acquisition and sustainment, Ellen Lord, described how the Trust Capital Marketplace will initially focus on small drones because of DJI’s low-cost dominance in the commercial space.
She said: “Essentially we don’t have much of a small UAS industrial base because DJI dumped so many low-price quad-copters on the market.”
Adding: “We then became dependent on them both from the defense point of view and the commercial point of view. And we know that a lot of the information is sent back to China from those. So it is not something that we can use.”
The report from CNN went on to detail how Lord said that defense officials would be traveling around the country to meet with potential investors as well as representatives from industry to help facilitate the process.