U.S. Commercial Drone Market Size Estimated to Reach a Value of $ 31 Billion By End of 2034

FinancialNewsMedia.com News Alert:

Palm Beach, FL – October 31, 2024 – The commercial drone industry is witnessing rapid growth and transforming various sectors such as agriculture, delivery and logistics, and energy among others. Advancements in drone technologies have led to increased demand and utilization in industries such as filming, emergency response, construction, and real estate. Additionally, drone software solution providers and manufacturers are continuously innovating and upgrading their offerings to cater to diverse market needs. As governments establish regulatory frameworks, the integration of drones into industries is expected to accelerate. This, in turn, is likely to create lucrative opportunities for market expansion over the forecast period.  A report from Grand View Research projected that the U.S. commercial drone market size is expected to grow at a compound annual growth rate (CAGR) of 9.1% through 2030.   The report said: “Furthermore, favorable legislations and rising use of commercial drones by authorities in the U.S. is expected to attract various industries to utilize drones for different processes. Similarly, government authorities across the region are constantly working on framing new regulations for the commercial applications of drones. This is attributed to increased focus on the adoption of commercial drones due to their economic potential, while prioritizing the safety and security of the country. This, in turn, is anticipated to drive the U.S. commercial drone market growth over the forecast period.”  Active Tech Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), AeroVironment, Inc. (NASDAQ: AVAV), Draganfly Inc. (NASDAQ: DPRO), Red Cat Holdings, Inc. (NASDAQ: RCAT), Safe Pro Group Inc. (NASDAQ: SPAI).

Fact.MR continued: “In addition, surveyors and engineers use drones to visualize the progress made in their construction projects by taking overhead images. Having a project overview leads to simplification of decision-making, thereby streamlining building site operations.  Drones are now being used for several applications, ranging from surveillance, deployment in military operations, video recording, agriculture, and film & television. With this rise in drone applications, key players in the United States market are incorporating advanced technologies in drones. Increasing drone payload capacity and introducing drones for specific applications are anticipated to promote the profits of drone manufacturers. Furthermore, leading companies are also making drones with high-power motors. Home deliveries through drones have now become a reality with the help of retail and logistics organizations such as Amazon.”

ZenaTech Inc.’s (NASDAQ:ZENA) ZenaDrone Completes the First Phase of an IQ Nano Inventory Management Trial for Multinational Auto Parts Customer – ZenaTech, a technology company specializing in AI (Artificial Intelligence) drone solutions and enterprise SaaS (Software-as-a-Service) solutions, today announced that its subsidiary, ZenaDrone, has successfully completed the first phase of drone testing and 3D mapping, and is beginning the next phase of production of a paid trial for a multinational auto parts manufacturer. This production phase consists of flying automatic and fully autonomous flights of the IQ Nano drone in an inventory management application.

Testing took place over several months at ZenaDrone’s production facility in Sharjah, United Arab Emirates (UAE) to ensure the smooth operation of the inventory scanning application. The 3D mapping took place just recently at the customer’s site consisting of scanning and mapping the warehouse area to create a 3D map that automates the drone flight path and its operations while in production.

View video showing the IQ Nano in test flight here.

The production phase is set to begin imminently and will consist of the IQ Nano flying and reading product and component bar codes, collecting information for verification and integration with the customer’s inventory management and accounting systems.

“We look forward to the production phase and concluding a successful trial, proving the viability of the IQ Nano and enabling us to deliver our product to our customer.  A successful trial also opens the potential to win additional business with this customer and to verifiably demonstrate IQ Nano’s utility for the benefit of attracting additional market interest. The revolutionary use of an indoor drone for productivity and cost savings value can be implemented across hundreds of warehouse facilities, turning a week-long activity like counting inventory into a day,” said CEO Shaun Passley, Ph.D.  – Get the full details by visiting:  https://www.financialnewsmedia.com/news-zena/

Additional Groundbreaking ZenaTech Inc. Developments this week include:

ZenaTech Enters the Drone Sensor and Components Market Establishing a New Taiwan Subsidiary to Win More US Defense Contracts for Its AI Drones – ZenaTech also announced it will establish a new company in Taiwan to manufacture drone sensors and components for use in the drone products produced by its subsidiary ZenaDrone. The new company, named Spider Vision Sensors Ltd., will ensure ZenaDrone’s products are compliant with the US National Defense Authorization Act (NDAA), an important requirement for the company to win more business with the US Military.

Spider Vision Sensors Ltd. will manufacture drone sensors, electronics, and components such LiDAR (Light Detection and Ranging), thermal, infrared, multi-spectral and hyper sensors, cameras, and PBCs (Printed Circuit Boards). Having in-house manufactured sensors and components will enable ZenaDrone to have a steady supply to fulfill customer orders and drone production needs at its Sharjah, UAE, and future Arizona-based drone manufacturing facilities.  Taiwan was selected due to its size and skills as an electronics hub, and the availability of low-cost alternative components versus those from China. The new company is currently at the prototype stage, and the manufacturing facility is expected to be open in November.

“Establishing a drone sensor and components manufacturer in Taiwan will help bring our products to market faster and removes dependencies on any Chinese made electronics. This will position us to win more US military contracts via achieving Green UAS (Uncrewed Arial Systems) and Blue UAS certifications as an approved supplier,” said CEO Shaun Passley, Ph.D.   Read this full release at:    https://finance.yahoo.com/news/zenatech-enters-drone-sensor-components-113000155.html

Other recent developments in the technology industry include:

AeroVironment (NASDAQ: AVAV) recently successfully showcased the maritime prowess of its combat-proven JUMP® 20 uncrewed aircraft system (UAS) during the NATO REPMUS 2024 (Robotic Experimentation and Prototyping using Maritime Uncrewed Systems) exercise off the coast of Portugal. This dynamic demonstration reinforced JUMP 20’s advanced Intelligence, Surveillance, and Reconnaissance (ISR) capabilities, autonomously launching and landing on a moving vessel in rough seas, with conditions reaching sea state level 5 and winds over 20 kts.

The JUMP 20 also highlighted its multi-sensor mission versatility, seamlessly executing wide-area search and detection tasks. Its advanced Electro Optical and Mid-Wave Infrared (MWIR) turret automatically slewed to investigate identified targets without repositioning the platform, ensuring constant operational focus. Full-motion video was captured and later analyzed using AV’s cutting-edge computer vision technology, SPOTR-Edge, enabling perception analysis using its robust library of object classifications, including persons, vehicles, and maritime vessels. Additionally, video from this event will further enhance the solution, making the JUMP 20 even more capable for future deployments by refining its object recognition and situational response capabilities.

Draganfly Inc. (NASDAQ: DPRO), an award-winning, industry-leading developer of drone solutions and systems, recently announced its participation in the upcoming Wings of Saskatchewan event in Regina, from October 30 to October 31, 2024. Draganfly will showcase its latest drone technology advancements, contributing to discussions on industry trends, safety, and regulatory considerations alongside key stakeholders in the aviation sector.

The Wings of Saskatchewan Conference, hosted by the Saskatchewan Aerial Applicators Association and the Saskatchewan Aviation Council, serves as a vital gathering for the aviation community. This year’s event will bring together leaders from both civil and commercial aviation sectors to discuss technological advancements, regulatory updates, and future trends within the industry.

Draganfly will emphasize the need for synergy across the aviation industry at the conference by addressing essential topics, including airspace safety and the regulatory challenges impacting the drone sector. This presentation will spotlight the benefits of enhanced communication and collaboration between fixed-wing, helicopter, and RPAS (Remotely Piloted Aircraft Systems) to promote safe, efficient, and integrated airspace management.

Red Cat Holdings, Inc. (NASDAQ: RCAT), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, recently announced a new contract and order for 12 of its FlightWave Edge 130 Blue system from the Royal Australian Navy. The contract was secured through Criterion Solutions Pty Ltd., an Australian-based distributor of intelligence, surveillance, reconnaissance and information technology solutions.

FlightWave, an industry-leading provider of VTOL drone, sensor and software solutions was acquired by Red Cat in September 2024. The acquisition brought FlightWave’s flagship drone, the Edge 130 Blue into its family of low-cost, portable unmanned reconnaissance and precision lethal strike systems. FlightWave’s size, weight and vertical take off capabilities makes it ideal for maritime operations and littoral environments.

Safe Pro Group Inc. (NASDAQ: SPAI) recently shared a video highlighting the capabilities of the Company’s patent-pending SpotlightAI AI-powered demining solution presented by Amazon Web Services (AWS) at this year’s AWS Summit Washington, D.C. The video highlights AWS Partners in the AWS Partner Network (APN) featuring senior Safe Pro team members discussing how AWS’s hyper scalability and compute resources are enabling the Company to modernize demining efforts in Ukraine by utilizing AI-powered image analysis of drone-based imagery.

“Our inclusion in this year’s AWS Summit Washington, D.C. spotlights our continued success in locating thousands of landmines and unexploded ordnance currently scattered over thousands of hectares of land in Ukraine utilizing our AI-powered image analysis technology. AWS continues to provide us invaluable support as we work to harness the power of AI and AWS’s hyper scalability to modernize real world demining operations. Working with AWS, we have greatly enhanced our ability to provide leading humanitarian mine action organizations with powerful new tools that can improve their situational awareness as they execute their land clearance operations across Ukraine, expediting the release of land for agricultural and civilian use,” said Dan Erdberg, Chairman and CEO of Safe Pro Group Inc.

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