On 29 November 2022, the European Commission published its long-awaited ‘Drone Strategy 2.0 for a Smart and Sustainable Unmanned Aircraft Eco-System in Europe’. This document builds upon previous European Union (EU) initiatives such as the ‘An Aviation Strategy for Europe’, ‘European Green Deal’, ‘Sustainable and Smart Mobility Strategy - Putting European Transport on Track for the Future’ and the numerous European Union Aviation Safety Agency drone-related publications. The Drone Strategy 2.0 constitutes the Commission’s vision for developing the drone sector and provides the foundations for the next steps at the EU level to develop a thriving, viable drone ecosystem in the EU. This article gives a clear overview of the Strategy’s main goals, its strengths and weaknesses, and assesses whether it is sufficient. It presents the evolutionary path from the Drone Strategy 1.0 and Drones Leaders’ Group Report, to the Drone Strategy 2.0, with a parallel assessment of the challenges presented in these documents. The article argues the Strategy is a positive political initiative and that more efforts in the legal field should be taken for the goals set to be achieved. Finally, the article underlines the EU’s shift from an initial safety-based approach to geopolitical protectionism, which is evident throughout the Strategy and this shift’s significance for the future of drones in the EU.