US Stock Market Move | The concept stocks of drones collectively rose. AIRO Group (AIRO.US) increased by over 10%.

On Thursday, the concept stocks of drones in the US collectively rose, with AIRO Group (AIRO.US) up over 10%, Archer Aviation (ACHR.US) up over 9%, AgEagle Aerial Systems, Inc. (UAVS.US), and Joby Aviation (JOBY.US) up over 6%. On the news front, AIRO Group announced the signing of a memorandum of understanding with Bullet to establish a joint venture company to produce and deploy Bullet's fixed-wing drone technology in the US, NATO defense markets, and other locations. In addition, Archer Aviation announced the acquisition of approximately 300 advanced AAM (Advanced Air Mobility) technology patents from its competitor Lilium for 18 million euros (approximately 21 million US dollars), further expanding its own technology portfolio to over 1000 items. Archer stated that these technologies will help drive the future development of light sport aircraft and regional air mobility fields.