Defense & Military
Volatus Aerospace Raises 26 Million to Boost Drone Defense Manufacturing
Volatus Aerospace secures $26.4M CAD to develop Mirabel hub for defense-grade drones with strategic US investment.
On November 26, 2025, Volatus Aerospace Inc. officially closed a significant financing package totaling approximately $26.4 million CAD. This transaction marks a pivotal moment for the company as it transitions from a primary focus on drones services to becoming a large-scale manufacturer of defense-grade unmanned aerial systems. The capital injection is composed of a bought deal public offering and a concurrent non-brokered private placement, signaling strong market confidence in the company’s strategic direction.
The timing of this financing aligns with a broader geopolitical shift toward “sovereign supply chains.” As Western nations and NATO allies seek to reduce reliance on foreign-made drone technologies, specifically those originating from China, companies like Volatus are positioning themselves to fill the production gap. The funds raised are explicitly earmarked to operationalize the company’s ambitious expansion plans, centered around a new manufacturing hub in Quebec.
This financial milestone is not merely a balance sheet adjustment; it represents the fuel required to execute a high-stakes pivot. By securing this capital, Volatus aims to cement its status as a key player in the global defense sector, moving beyond pilot programs and small-batch sales into serial production of intelligence, surveillance, and reconnaissance (ISR) technologies.
The total gross proceeds of $26,391,500 CAD were raised through a dual-structure approach. The majority of the funds came via a bought deal public offering, led by Stifel Nicolaus Canada Inc., alongside a syndicate of underwriters including Ventum Financial Corp., Canaccord Genuity Corp., and Haywood Securities Inc. This portion of the deal involved the issuance of approximately 38.35 million units at a price of $0.60 per unit, a figure that includes the full exercise of the over-allotment option by the underwriters.
A critical component of this financing round was the non-brokered private placement, which raised additional capital through the sale of roughly 5.63 million units at the same issue price of $0.60. Notably, this tranche included a strategic investment from Unusual Machines, Inc. (NYSE: UMAC), a United States-based drone component manufacturer. Unusual Machines invested approximately $3.38 million CAD, underscoring a growing cross-border collaboration intended to strengthen North American drone defense capabilities.
This partnership is indicative of a larger trend where allied nations are consolidating resources to build compliant drone ecosystems. Unusual Machines has been actively building what some analysts describe as a “drone treasury,” investing in allied manufacturers to create an integrated supply-chain that complies with the U.S. National Defense Authorization Act (NDAA). For Volatus, having a U.S. strategic partner validates its technology and opens potential pathways into the lucrative American defense market.
The structure of the deal suggests that institutional and strategic investors see long-term value in the company’s manufacturing pivot. While public offerings provide necessary liquidity, the inclusion of a strategic partner like Unusual Machines often brings technical synergies and market access that pure financial investment cannot offer.
“By combining an Innovation Centre for rapid integration and qualification with a dedicated Manufacturing Hub for serial production, Mirabel will become our anchor for Canadian-made, defence-grade drones.” — Glen Lynch, CEO of Volatus Aerospace.
The primary allocation of the newly raised funds is the development and operationalization of the Mirabel Manufacturing Hub. Located at the Montréal–Mirabel International Airport (YMX), this 200,000-square-foot facility is designed to be the cornerstone of the company’s future operations. The facility is supported by Aéroports de Montréal and is intended to facilitate the mass production of proprietary ISR drones as well as licensed manufacturing for partner systems. Historically, Volatus Aerospace has been recognized for its service-based operations, such as pipeline inspections and cargo logistics. However, the margins and scalability in manufacturing, particularly for the defense sector, present a different economic profile. The shift to serial production allows the company to fulfill larger contracts, such as the recent $1.7 million agreement to supply tactical ISR drones to a NATO member nation. The Mirabel facility provides the physical capacity to execute these types of contracts at scale.
The transition also addresses a critical bottleneck in the current market: the lack of domestic production capacity for “dual-use” technologies. These are systems that serve both civilian and military purposes. By controlling the manufacturing process domestically, Volatus mitigates the geopolitical risks associated with international supply chains, a key selling point for government and defense clients.
Furthermore, the company plans to utilize a portion of the proceeds for research and development. This includes accelerating the development of new technologies and potentially funding future acquisitions. The recent acquisition of Caliburn Holdings, which added battle-proven fixed-wing UAV designs to the Volatus portfolio, serves as a precedent for how the company intends to grow its intellectual property and product offerings.
Analyzing the company’s recent financial-results provides necessary context for this financing round. In the second quarter of 2025, Volatus reported revenue of $10.6 million, representing a 49% increase year-over-year. This growth was largely driven by a 114% surge in equipment sales, validating the demand for its hardware. While the company remains in a loss-making position as it scales, it reported an 85% improvement in its Adjusted EBITDA loss year-over-year, signaling improved operational efficiency.
Investors should also note the recent restatement of the company’s Q2 financials. In early November 2025, Volatus issued a correction regarding a $2.23 million non-cash accounting adjustment related to debt restructuring. It is important to clarify that this was a technical accounting correction with no impact on the company’s revenue, cash position, or gross margins. CFO Abhinav Singhvi described the move as a prudent step to strengthen the balance sheet, ensuring that financial reporting aligns strictly with accounting standards.
Despite some volatility in the stock price leading up to the deal, a common occurrence when equity dilution is anticipated, the stock has shown significant appreciation on an annual basis. The market appears to be pricing in the potential upside of the defense contracts and the successful operationalization of the Mirabel facility, balancing these against the execution risks inherent in such a large-scale expansion.
The closing of this $26.4 million financing round represents a definitive step for Volatus Aerospace as it evolves from a drone services provider into a defense manufacturing entity. With the capital now secured, the focus shifts to execution: bringing the Mirabel Manufacturing Hub online and delivering on the growing demand for sovereign, NATO-compliant drone systems.
As geopolitical tensions continue to drive the need for secure, domestic defense technologies, Volatus is well-positioned to capitalize on these trends. The strategic backing of Unusual Machines and the support of major underwriters suggest that the industry views this pivot not just as a possibility, but as a necessary evolution in the North-American aerospace sector. Question: What was the total amount raised in this transaction? Question: What is the primary use of the funds? Question: Who is the strategic investor mentioned in the deal?
Volatus Aerospace Secures $26.4 Million to Accelerate Defense Manufacturing Capabilities
Breakdown of the Financial Transaction
Strategic Investment from Unusual Machines
The Mirabel Manufacturing Hub: A Strategic Pivot
From Services to Serial Production
Financial Context and Market Performance
Transparency and Accounting Adjustments
Concluding Section
FAQ
Answer: Volatus Aerospace raised a total of $26,391,500 CAD through a combination of a bought deal public offering and a non-brokered private placement.
Answer: The capital is primarily allocated for the construction and operationalization of the Mirabel Manufacturing Hub, a 200,000-square-foot facility in Quebec designed for the mass production of defense-grade drones.
Answer: Unusual Machines, Inc. (NYSE: UMAC), a U.S.-based drone component manufacturer, invested approximately $3.38 million CAD as part of the private placement.
Sources
Photo Credit: Volatus Aerospace
Defense & Military
Firehawk Aerospace Expands Rocket Motor Production in Mississippi Facility
Firehawk Aerospace acquires a DCMA-rated facility in Mississippi to boost production of solid rocket motors using 3D-printing technology.
This article is based on an official press release from Firehawk Aerospace.
On December 19, 2025, Firehawk Aerospace announced a significant expansion of its manufacturing capabilities with the acquisition of a specialized defense facility in Crawford, Mississippi. The Dallas-based defense technology company has secured a 20-year lease on the 636-acre site, which was formerly operated by Nammo Talley.
This acquisition marks a strategic pivot for Firehawk as it moves to address critical shortages in the U.S. defense supply chain. By taking over a facility that is already rated by the Defense Contract Management Agency (DCMA), the company aims to bypass the lengthy construction and certification timelines typically associated with greenfield defense projects. The site will serve as a hub for the full-system integration of solid rocket motors (SRMs), complementing the company’s existing R&D operations in Texas and energetics production in Oklahoma.
The Crawford facility is located in Lowndes County within Mississippi’s “Golden Triangle” region. According to the company’s announcement, the site is a “turnkey” defense asset designed specifically for handling high-grade explosives and munitions. The infrastructure includes assembly bays protected by one-foot-thick concrete walls and safety “blowout” walls designed to contain accidental detonations.
Because the facility was previously used by Nammo Defense Systems for the high-volume assembly of shoulder-launched munitions, such as the M72 LAW and SMAW systems, it retains the necessary regulatory certifications to allow for rapid operational ramp-up. Firehawk Aerospace CEO Will Edwards emphasized the urgency of this expansion in a statement regarding the deal.
“This acquisition strengthens Firehawk’s ability to address one of the nation’s most urgent defense challenges: rebuilding munition inventories that have been drawn down faster than they can be replaced.”
, Will Edwards, Co-founder and CEO of Firehawk Aerospace
The acquisition comes at a time when the Western defense industrial base is grappling with a severe shortage of solid rocket motors, which power critical systems like the Javelin, Stinger, and GMLRS missiles. Traditional manufacturing methods, which involve casting propellant in large batches that take weeks to cure, have created production bottlenecks.
Firehawk Aerospace intends to disrupt this model by utilizing proprietary 3D-printing technology to manufacture propellant grains. According to the press release, this additive manufacturing approach reduces production times from weeks to hours. The company has explicitly stated that the new Mississippi facility is being designed to achieve a production tempo of “thousands of rockets per month,” a significant increase over legacy industry standards. “While the current industrial base is built to produce thousands of rockets per year, we are building this site… to operate at a much higher production tempo… designing for throughput measured in thousands per month, not years.”
, Will Edwards, CEO
The expansion is expected to bring skilled jobs to the Golden Triangle region, which is increasingly becoming a hub for aerospace and defense activity. Mississippi Governor Tate Reeves welcomed the investments, noting the dual benefits of economic growth and national security support.
“Their acquisition in Crawford will bring skilled jobs to the region while directly contributing to the production capacity our nation needs.”
, Tate Reeves, Governor of Mississippi
From R&D to Mass Production: This acquisition signals Firehawk’s transition from a development-focused startup to a volume manufacturer. By securing a pre-rated facility, Firehawk has effectively shaved 2–3 years off its timeline, the period typically required to build and certify a new explosives handling site. This speed is critical given the current geopolitical demand for tactical munitions.
Supply Chain Decentralization: The move also highlights a strategy of decentralization. By distributing operations across Texas (R&D), Oklahoma (Energetics), and now Mississippi (Integration), Firehawk is building a supply chain that may prove more resilient than centralized legacy models. This geographic diversity also allows the company to tap into distinct labor markets and state-level incentives, such as Mississippi’s aerospace initiatives.
What is the significance of the DCMA rating? How does Firehawk’s technology differ from traditional methods? What was the facility used for previously?
Firehawk Aerospace Acquires Mississippi Facility to Scale Rocket Motor Production
Strategic Asset Details
Addressing the “Rocket Motor Crisis”
Regional Economic Impact
AirPro News Analysis
Frequently Asked Questions
A DCMA (Defense Contract Management Agency) rating verifies that a facility meets strict Department of Defense quality and safety standards. Acquiring a pre-rated facility allows Firehawk to begin production much faster than if they had to build and certify a new site from scratch.
Traditional solid rocket motors are cast in large batches, a process that requires weeks for the propellant to cure. Firehawk uses 3D-printing technology to print propellant grains, which allows for custom geometries and reduces the manufacturing time to mere hours.
The facility was formerly operated by Nammo Talley (now Nammo Defense Systems) for the assembly of shoulder-launched munitions, including the M72 LAW and SMAW systems.Sources
Photo Credit: Firehawk Aerospace
Defense & Military
20 Years of the F-22 Raptor Operational Capability and Upgrades
Lockheed Martin celebrates 20 years of the F-22 Raptor’s operational service, highlighting its stealth, combat roles, readiness challenges, and modernization.
Lockheed Martin has launched a campaign commemorating the 20th anniversary of the F-22 Raptor achieving Initial Operational Capability (IOC). In December 2005, the 27th Fighter Squadron at Langley Air Force Base in Virginia became the first unit to field the fifth-generation fighter, marking a significant shift in global air superiority.
According to the manufacturer’s announcement, the aircraft continues to define the benchmark for modern air combat. In a statement regarding the milestone, Lockheed Martin emphasized the platform’s enduring relevance:
“The F-22 Raptor sets the global standard for capability, readiness, and mission success.”
While the airframe was designed in the 1990s and first flew in 1997, the F-22 remains a central pillar of U.S. air power. The fleet, which consists of approximately 185 remaining aircraft out of the 195 originally built, has evolved from a pure air superiority fighter into a multi-role platform capable of ground strikes and strategic deterrence.
Since its operational debut, the F-22 has maintained a reputation for dominance, primarily established through high-end military aircraft exercises rather than direct air-to-air combat against manned aircraft.
Data from the U.S. Air Force and independent observers highlights the discrepancy between the Raptor’s exercise performance and its real-world combat engagements. During the 2006 Northern Edge exercise, its first major test after becoming operational, the F-22 reportedly achieved a 108-to-0 kill ratio against simulated adversaries flying F-15s, F-16s, and F/A-18s.
Despite this lethality in training, the aircraft’s combat record is distinct. The F-22 made its combat debut in September 2014 during Operation Inherent Resolve, conducting ground strikes against ISIS targets in Syria. To date, the aircraft has zero confirmed kills against manned enemy aircraft. Its sole air-to-air victory occurred in February 2023, when an F-22 utilized an AIM-9X Sidewinder missile to down a high-altitude Chinese surveillance balloon off the coast of South Carolina.
The primary driver of the F-22’s longevity is its low observable technology. Defense analysts estimate the Raptor’s Radar Cross Section (RCS) to be approximately 0.0001 square meters, roughly the size of a steel marble. This makes it significantly stealthier than the F-35 Lightning II and orders of magnitude harder to detect than foreign competitors like the Russian Su-57 or the Chinese J-20.
While Lockheed Martin’s anniversary campaign highlights “readiness” as a key pillar of the F-22’s legacy, recent Air Force data suggests a more complex reality regarding the fleet’s health. We note that maintaining the world’s premier stealth fighter comes at a steep logistical cost. According to data published by Air & Space Forces Magazine regarding Fiscal Year 2024, the F-22’s mission capable (MC) rate dropped to approximately 40%. This figure represents a decline from roughly 52% in the previous fiscal year and indicates that, at any given time, fewer than half of the Raptors in the inventory are flyable and combat-ready.
This low readiness rate is largely attributed to the fragility of the aircraft’s stealth coatings and the aging avionics of the older airframes. The Air Force has previously attempted to retire 32 older “Block 20” F-22s used for training to divert funds toward newer programs, though Congress has blocked these efforts to preserve fleet numbers. The contrast between the jet’s theoretical dominance and its logistical availability remains a critical challenge for planners.
Contrary to earlier projections that might have seen the F-22 retired in the 2030s, the Air Force is investing heavily to keep the platform viable until the Next Generation Air Dominance (NGAD) fighter comes online.
In 2021, the Air Force awarded Lockheed Martin a $10.9 billion contract for the Advanced Raptor Enhancement and Sustainment (ARES) program. This decade-long modernization effort aims to update the fleet’s hardware and software.
According to budget documents for Fiscal Year 2026, the “Viability” upgrade package includes several key enhancements:
These investments suggest that while the F-22 is celebrating its past 20 years, the Air Force intends to rely on its capabilities well into the next decade.
Sources: Lockheed Martin, U.S. Air Force
Two Decades of the Raptor: Celebrating the F-22’s Operational Milestone
Operational History and Combat Record
Exercise Performance vs. Combat Reality
Stealth Capabilities
AirPro News Analysis: The Readiness Paradox
Modernization and Future Outlook
The ARES Contract and Upgrades
Sources
Photo Credit: Lockheed Martin
Defense & Military
U.S. Navy Zero-G Helmet System Completes Critical Design Review
Collins Elbit Vision Systems completes design review for the Zero-G Helmet Display, reducing pilot weight load and enhancing safety for Navy aircraft.
This article is based on an official press release from Collins Elbit Vision Systems (RTX).
Collins Elbit Vision Systems (CEVS), a joint venture between RTX’s Collins Aerospace and Elbit Systems of America, has officially announced the completion of the Critical Design Review (CDR) for the Zero-G Helmet Mounted Display System+ (HMDS+). This milestone, finalized on December 12, 2025, marks a pivotal step in the U.S. Navy’s Improved Joint Helmet-Mounted Cueing System (IJHMCS) program.
The successful CDR effectively freezes the system’s design, confirming that the helmet meets the Navy’s rigorous requirements for safety, performance, and platform integration. With the design locked, the program now transitions into the airworthiness testing and integration phase, bringing the system closer to deployment aboard the F/A-18E/F Super Hornet and EA-18G Growler fleets.
According to the press release, the Zero-G HMDS+ is engineered to address long-standing physiological challenges faced by naval aviators while introducing “6th-generation” digital capabilities to existing 4.5-generation aircraft.
The Zero-G HMDS+ represents a significant departure from legacy analog systems. While previous iterations required pilots to physically attach heavy Night Vision Goggles (NVGs) for low-light operations, the new system integrates digital night vision directly into the visor. This integration streamlines cockpit operations and reduces the physical burden on the aircrew.
A primary driver for the Zero-G’s development is the reduction of head-borne weight. High-G maneuvers in fighter aircraft place immense strain on a pilot’s neck and spine, a hazard exacerbated by heavy, unbalanced legacy helmets. CEVS reports that the Zero-G system is more than 25 percent lighter than current market alternatives. Its name is derived from its optimized center of gravity, designed to minimize fatigue and long-term injury risks.
Capt. Joseph Kamara, the U.S. Navy Program Manager for Naval Aircrew Systems (PMA-202), emphasized the safety implications of the new design in a statement:
“Aircrew health and safety is our number one priority. The Zero-G being integrated through our IJHMCS program promises to relieve aircrew of neck and back strain and greatly improve ejection safety.”
Beyond ergonomics, the helmet utilizes a binocular waveguide display system. Unlike monocular reticles used in older models, this technology projects high-definition color symbology and video into both eyes, creating a fully immersive 3D view of the battlespace. The system is capable of “sensor fusion at the edge,” processing mission data and weapon information directly on the helmet to act as a primary flight instrument. Luke Savoie, President and CEO of Elbit Systems of America, highlighted the strategic necessity of this upgrade:
“Zero-G is providing sensor fusion at the edge… As fighter aircraft level-up, the HMDs of those systems need to as well.”
The Zero-G HMDS+ program has moved rapidly since CEVS was awarded a $16 million contract by the U.S. Navy in September 2023 for development and test support. Following the successful CDR in December 2025, the program is scheduled to undergo flight testing and Avionics integration throughout 2026 and 2027.
The U.S. Navy projects Initial Operational Capability (IOC) for the system in 2027. Once fielded, it is expected to equip aviators across the entire fleet of U.S. Navy and Royal Australian Air Force Super Hornets and Growlers, totaling more than 750 aircraft.
The completion of the CDR signals a critical maturity point for the Navy’s effort to modernize the human-machine interface in its tactical fleet. While much industry attention is focused on future platforms like NGAD (Next Generation Air Dominance), the Zero-G program illustrates the military’s commitment to maintaining the lethality and survivability of its existing backbone fleet.
By adapting technology originally matured for the F-35 Gen III helmet, CEVS is effectively retrofitting advanced situational awareness tools onto older airframes. This approach not only extends the combat relevance of the Super Hornet but also addresses the acute retention issue of pilot physical health. The shift to digital night vision and balanced weight distribution suggests that the Navy views pilot longevity as a critical component of fleet readiness.
Critical Design Review Completed for Navy’s Next-Gen Helmet
Technical Leap: The Zero-G HMDS+
Weight Reduction and Pilot Safety
Advanced Display Capabilities
Program Timeline and Deployment
AirPro News Analysis
Sources
Photo Credit: RTX
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