Beam Global (BEEM), a provider of infrastructure solutions for energy storage and security, electrification of mobility, and others, said on Tuesday that it has inked a non-binding letter of intent to buy a European drone maker.

The deal, once finalized, is expected to evolve Beam Global into a vertically integrated drone and AI-enhanced drone software firm. The target company sells drones and software globally to fortune global 500 and other major companies.

Desmond Wheatley, CEO of Beam Global, said: "Drones represent a natural extension of our expertise, and our existing customer base includes military, government, and commercial customers that we believe will be potential customers for the acquired drone technology."

The global drone market has an estimated value of $96.4 billion in 2026, up nearly 15% from 2025, and is projected to more than double by 2033, according to a Grand View Research report. North America has roughly 40% of the global drone market, while Europe accounts for nearly 27% of the international market.

BEEM was up by 2.99% at $1.380 in the pre-market trade on the Nasdaq.

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