Metal micro-droplet ejection technology has attracted attention for its potential applications in the rapid prototyping of micro-metal parts and microelectronic packaging. The current micro-droplet ejection device developed based on this technology faces challenges such as the requirement of a micro-oxygen ejection environment, a complex feeding structure, and high costs. Therefore, a drop-on-demand droplet generator for metallic pellets with impact feed ejection is designed in this paper. This device has a simple and compact structure, does not require a high-cost heat source, and can perform drop-on-demand ejection of metallic pellets in an atmospheric environment. A micro-channel feeding method based on piezoelectric ceramic actuator drives is proposed. A rigid dynamics metallic pellet flight trajectory model is established to analyze the relationships between the driving voltage and the flight trajectory of the pellets. With the help of Fluent to simulate and analyze the melting and ejection processes of the pellets inside the nozzle, the changes in the variable parameters of the flow field in the process of the melting and flight of a single molten drop are studied. The droplet generator produces stable droplets with a 500 µs pulse width and 1100 mm/s initial velocity of the projectile. The simulation results show that a single projectile has to go through three stages including feeding, melting, and ejecting, which take 39.5 ms, 7.85 ms, and 17.65 ms. The total simulation time is 65.0 ms. It is expected that the injection frequency of the metal projectile droplet-generating device will reach 15 Hz.