This review paper presents and analyzes previous studies on wingtip devices mainly to reduce induced drag on fixed-wing aircraft and drones. Some of the parameters discussed are the different types of winglets, cant angles, and adjustable wing structures. And these are compared against performance measures including reduced drag, fuel consumption, and improved endurance. This study aims to explore the optimized design of a wing that will give maximum drag reduction for fixed-wing drones, including the use of Gurney flaps and optimized winglets design. Optimised wingtip devices greatly affect the overall performance of fixed-wings. Better optimised performance of drones can have much better payload capabilities, endurance, and increased agility. They can have special capabilities like flying at higher altitudes and perform more sophisticated maneuvers. It is hoped that through this review paper, future studies on improved performance of fixed-wing drones will be performed with the help of computational fluid dynamics tools such as MachUp, Aeolus Aero Sketch Pad and Ansys.