Amid reports of drone sightings in the Northeastern US, the reported drones have garnered the attention of many, including President-elect Donald Trump. Bloomberg Intelligence senior aerospace defense and airlines industry analyst George Ferguson joins Market Domination Hosts Julie Hyman and Josh Lipton to discuss the reports and examine how drones could impact defense companies. "I think it’s nothing sort of too far out of the ordinary," Ferguson says, noting that some drone activity, both recreational and "a bit of surveillance," is typical. As drones make headlines, investors may wonder whether the tech could benefit aerospace and defense companies. The analyst says it will likely be smaller private tech companies and "some of the bigger defense primes" will gain from making technology to monitor drones. He names Lockheed Martin (LMT), Northrop Grumman (NOC), and RTX Corporation (RTX) (formerly Raytheon) as "well-positioned with technologies like radars" and "technologies that intercept signals." Ferguson notes that it’s unlikely drone-related tech will "move the needle" for these defense companies, given they sell products like fighter jets at a $100 million price tag.
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