Piper Sandler发布无人机行业研报，称FCC拟禁售已获批外国无人机将加速美国本土无人机产业发展，推荐AVAV、UMAC、LPTH

A potential federal ban on the sale of certain previously approved foreign-made drones could accelerate the growth of the U.S. drone industry, according to a Piper Sandler research report published Wednesday. The Federal Communications Commission is considering restrictions that would prohibit the importation and sale of foreign uncrewed aircraft systems and critical components placed on its Covered List, the report said. Public comments on the proposal were due September 2. Unlike earlier measures focused on preventing new equipment certifications, the proposal could also affect products that have already received approval and are currently available for sale. Equipment under consideration reportedly includes drones with thermal-imaging or LiDAR capabilities, aircraft equipped to dispense aerosols, drone docking stations and drones weighing more than 55 pounds (24.95 kilogram). If adopted, the restrictions could significantly shorten the timetable for reducing U.S. reliance on Chinese drone technology, Piper Sandler analyst Clarke Jeffries wrote. The change would also create opportunities for domestic manufacturers of drones, optical systems, components and other supporting technology. The report identified a second potential catalyst: new investments from the Office of Strategic Capital, or OSC, under the federal Drone Dominance Program. In July, the OSC made a conditional $820 million loan commitment to an unnamed private drone supplier seeking to establish high-volume U.S. production of propulsion, power and control systems, vision technology and other components now dependent on foreign-controlled supply chains. OSC Director David Lorch indicated that the commitment was one of several involving domestic component producers, according to the report. At a recent White House meeting attended by roughly 40 drone companies, Under Secretary of Defense for Research and Engineering Emil Michael also said additional deals were imminent. The activity comes as federal agencies increase spending on critical minerals, manufacturing capacity and defense-related supply chains. Piper Sandler said approximately $3.3 billion was invested across several government programs in August, though the firm had not yet seen another OSC drone investment announced after the July commitment. Piper Sandler named AeroVironment ( AVAV ), Unusual Machines ( UMAC ) and LightPath Technologies ( LPTH ) as its preferred publicly traded companies in the drone and drone-supply-chain market. The firm maintained Overweight ratings on all three, with price targets of $235 for AeroVironment, $38 for Unusual Machines and $15 for LightPath. Those recommendations carry significant risks. The report cited exposure to government procurement cycles, competition, volatile demand, manufacturing challenges, the possible loss of major customers or defense programs, export controls and the potential loosening of drone-related restrictions. Piper Sandler also disclosed that it trades securities in all three companies on a principal basis and that it has received investment-banking compensation from Unusual Machines within the past 12 months. The firm cautioned that its research should be considered only one factor in any investment decision.