Drone Swarms Represent Growth Opportunity, Says Petraeus at Conference

Former CIA Director David Petraeus highlighted the rise of drone swarms as a significant threat and opportunity for growth in defense spending. Speaking at the UBS Asian Investment Conference, he noted the cost of Iran's Shahed drones ranges from $20,000 to $50,000, which is considerably lower than the millions required for ballistic or cruise missiles. Petraeus emphasized that even a modest number of drones can disrupt operations, as illustrated by Qatar's liquefied natural gas production issues. He forecasted that warfare will increasingly evolve towards unmanned and autonomous systems, indicating a shift in military strategies and potential increases in defense budgets.