UVision Air Ltd., the Israeli defense company behind some of the most sought-after loitering munitions on the market, is preparing to go public on Nasdaq with a target valuation between $3.5 billion and $4 billion. Some institutional investors have been pushing for a lower entry point closer to $2.5 billion.
The business behind the valuation
Loitering munitions are essentially weaponized drones that circle a target area before striking. UVision’s HERO family of systems has become a cornerstone product in this rapidly expanding market.
In October 2025, UVision’s US subsidiary secured a $982 million multi-year indefinite delivery, indefinite quantity (IDIQ) contract with the US Army for the HERO-120 system. UVision has been building this momentum since founder Aaron Frenkel took ownership of the company in 2010.
In late 2025, UVision acquired SpearUAV, expanding its drone technology capabilities. By March 2026, it had established UVision Europe GmbH, a German subsidiary designed to tap into European defense budgets. In June 2026, the company launched CORTEX, an intelligence platform that layers data analytics on top of its hardware offerings.
