Around 4,300 soldiers, around 200 vehicles and more than 100 aircraft, some from other European countries, are taking part in the parade that was opened by Spanish troops.
The jet-powered flying device was invented by French inventor Franky Zapata, who was given a €1.3 million grant by France's army for its military development.
Macron's announcement mirrors an initiative in the USA championed by President Donald Trump for a new "Space Force" to become the sixth branch of the military by 2020.
Mr Macron's European Intervention Initiative is a 10-country coalition of European militaries ready to react to crises and the French-led initiative, which includes Germany, Belgium, Britain, Denmark, Estonia, the Netherlands, Spain and Portugal, was launched previous year.
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During her on-court interview immediately following the match, where the 27-year-old Romanian player defeated Serena Williams , Halep was quick to thank the royal moms for coming to watch.
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He said the aim of the E2I was to "act together and reinforce our capacity to act together", adding: "Our security and our defense pass through Europe". "Never, since the end of the second world war, has Europe been so important", the French president said.
Macron had invited Merkel and other leaders to the parade as part of his drive for deeper European defence cooperation.
In February, American President Donald Trump signed a directive that directs the Pentagon to draft legislation on creating a US Space Force, which the White House said is "a bold, strategic step toward guaranteeing American space dominance".
Highligthing France's continued commitment to North Atlantic Treaty Organisation, the alliance's secretary general Jens Stoltenberg will also be present at the parade.
Outgoing British Prime Minister Theresa May had been expected to attend but Britain will instead be represented by senior cabinet minister David Lidington, the Elysee said.
Also present were members of the 5,000-strong Franco-German Brigade, which was created in 1989 as a symbol of postwar unity.