Abstract: The aerial refueling drogue utilizes a bleeding drogue canopy providing substantially constant loads over a range of refueling speeds, by passive movement of the bleeding drogue between a retracted position and and extended position. The passive variable speed drogue comprises leading edge support arms, center support arms, and trailing edge support arms mounted to a refueling coupling member, with a forward drogue canopy attached between the leading edge support arms and the center support arms. An aft bleeding drogue canopy is connected between the center support arms and the trailing edge support arms. Springs in the trailing edge support arms bias the bleeding drogue canopy to a retracted position. In an alternate embodiment, cords are attached to the trailing edge of the aft bleeding drogue canopy, continue through the trailing edge support arms, up each center support arm, and through rings attached to the inside of the aft bleeding drogue canopy.