Military Drone Market Expected To Expand Through 2028 on Heels of Technological Advancements
PALM BEACH, Fla., March 16, 2023 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - The worldwide Military Drone market has been rapidly expanding for the past several years and is expected to continue to show significant growth in the several years to come. North America has held a significant share in the military drone market, led by countries such as the United States, which have large defense budgets as sizable military budgets support the incorporation of cutting-edge technological advancements. The growing need to strengthen national security by acquiring technologically cutting-edge equipment like military drones for surveillance, monitoring, transportation, and combat operations, is driving the market for military drones in North America. Additionally, the market will likely expand further due to favorable rules by governments in the region and the increase in production of military drones internationally and domestically. Other regions are also growing. A report from Expert Market Research said that: "Asia Pacific is projected to experience significant expansion and a fast CAGR in the military drone market over the forecast period. This can be attributed to the increased spending by several countries on their militaries to strengthen their defensive capacities. The demand for military drones is expected to increase as border conflicts become more prevalent and countries invest in real-time surveillance drones in order to enhance border patrolling and situational awareness." Active companies in the markets this week include: AeroVironment, Inc. (NASDAQ: AVAV), Epazz, Inc. (OTCPK: EPAZ), Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD), Drone Delivery Canada Corp. (OTCQX: TAKOF) (TSXV: FLT), Red Cat Holdings, Inc. (NASDAQ: RCAT).
The report added: "Market Share by Product. The fixed wing segment is anticipated to have a significant market share over the forecast period (2-23 – 2028) due to their superior support for payloads, increased endurance ranges, and versatile applications. Like an aeroplane, fixed-wing drones take off from the ground by using their wings, due to which fixed-wing UAVs can travel farther than rotor-wing drones. A key advantage of fixed-wing aircrafts is their ability to cover large distances on a single battery, which makes them ideal for monitoring and surveillance activities, thus increasing their military drone market share. In the event of complete failure, military drones with fixed wings can still fly and land safely. Due to their superior aerodynamics, fixed-wing formats are used for the most advanced and powerful unmanned aerial vehicles (UAVs). Market Share by Range. During the forecast period, the visual line of sight (VLOS) segment is anticipated to develop at a fast rate due to the rise in the use of VLOS military drones by various governments in applications including traffic monitoring, firefighting, and disaster management. Authorities are putting in place various VLOS regulations, to manage drones used for commercial, leisure, or military purposes."
Epazz, Inc. (OTCPK: EPAZ) BREAKING NEWS: Epazz Holdings: ZenaDrone AI Predictive Partnered with US Defense Contractor to Submit for SBIR Phase II for ZenaDrone 100 - Epazz Inc., a mission-critical provider of drone technology, blockchain mobile apps and cloud-based business software solutions, announced recently ZenaDrone signed up a U.S. defense contractor to partner with on submitting a SBIR Phase II proposal. This partnership helps ZenaDrone fast track the Phase II submission process, which includes a U.S. government customer who will be using our drone and partner technology.
The San Antonio Air Force Trade Show, which was held between Jan. 26 and Jan. 27, 2023, has led to some meaningful partnership opportunities with U.S. defense contractors that have already established military contracts. We are working to add more partners who have already established contracts with the U.S. military to submit more proposals for Phase II in April.
ZenaDrone has agreed to install its partner's technology into its drones to test its technology. ZenaDrone will be part of the contract and, if awarded, will share proceeds of up to $1.2 million of the contract price.
Working with partners means ZenaDrone has accelerated the process, allowing it to submit for Phase II earlier than would otherwise be possible.
CEO Shaun Passley, Ph.D., said, " We met a lot of good companies during the January conference; they have been grateful to help us through the SBIR process. We look forward to working with them on Phase II."
Epazz also announced recently it has received the official utility patent on its AI predictive Drone Smart Charging Pad .
Our Smart Charging Pad is a major game changr. Many of our competitors are pricing their charging pads for drones weighing less than 55 pounds at $4,000 to $15,000 per unit. Our Smart Charging Pad — which can be used to charge our ZenaDrone 1000, weighing over 250 pounds — will be priced at less than $15,000. ZenaDrone 1000 is a serious aircraft created for use by the military as well as in the oil and gas and agriculture industries. We designed it to be a workhorse and to push the limits of future technology available today. Our affordable technology has allowed us to gain market interest quickly. CONTINUED… Read these full press releases and more news for Epazz at: https://www.epazz.com/press-room/
Other recent developments in the markets of note include
AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, recently reported financial results for the fiscal third quarter ended January 28, 2023. Third Quarter Highlights Were: Third quarter revenue of $134.4 million, up 49% year-over-year; Third quarter gross margin of $45.5 million, an increase of 112% year-over-year; gross margin percentage of 34% rose approximately 1,000 basis points; Third quarter net loss attributable to AeroVironment of $(0.7) million and non-GAAP adjusted EBITDA of $23 million; and Record funded backlog of $413.9 million as of January 28, 2023, an increase of 83% year-over-year.
"This quarter once again demonstrated the ongoing robust strength of our business, with performance that met or exceeded our expectations," said Wahid Nawabi, AeroVironment chairman, president and chief executive officer. "Our performance, reflects strong, growing demand for our broad portfolio of innovative unmanned robotics solutions, with results particularly driven by the significant rise in orders for our advanced Puma and Switchblade systems. AeroVironment's products and services are proving to be essential to Ukraine's defense efforts, of which we're very proud.
Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD) recently said that, as company investments enable significant increases in production, Aerojet Rocketdyne has now delivered the 830,000th Attitude Control Motor (ACM) for Patriot missile system variants, including the Patriot Advanced Capability-3 (PAC-3) Missile Segment Enhancement (MSE).
"We take great pride in our role powering the PAC-3 MSE air defense missile system, and this milestone comes at a uniquely important time as the demand for key defense systems continues to increase," said Eileen P. Drake, Aerojet Rocketdyne CEO and president. "Our investments to expand production for this critical system will ensure we are able to meet continued demand for our reliable propulsion."
Investments in ACM production, including significant building upgrades, increased manufacturing space, improvements to automated production processes and new state-of-the-art equipment, such as laser welders, filament winders and grinders, resulted in reduced labor hours, and fewer parts and motor transfers within the ACM building. The investments allowed the site to move from two to three production lines, increasing ACM production by 40%.
Drone Delivery Canada Corp. (OTCQX: TAKOF) (TSXV: FLT) recently announced that it has been awarded a grant of up to $75,000 in funding from the Downsview Aerospace Innovation and Research (DAIR) Green Fund for its clean energy drone delivery solution.
The funding comes following an application process in 2022 pursuant to which DDC was selected as one of eight funding winners. Funded by the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), the DAIR Green Fund provides financial support for collaborative projects that can demonstrate an impact on the future of aerospace through sustainable and green aviation technologies and solutions.
DDC intends for the funds to be applied to certain of the operating costs for the Care by Air project as well as costs associated with regulatory approvals required to progress towards beyond visual line of sight ("BVLOS") operations. BVLOS will allow for the operation of more complex routes with less human resources required as DDC seeks to add new project phases and route expansions.
Red Cat Holdings, Inc. (NASDAQ: RCAT), a military technology company integrating robotic hardware and software to protect and support the warfighter, has recently made a materially significant financial investment in Firestorm, an American company developing the first completely Modular Unmanned Aerial System (MUAS) that is 3D printed and payload agnostic.
Firestorm is building a new category of fixed-wing UAS with 30-day product iterations, a commitment to open-system architectures, and an additive manufacturing approach that allows them to scale production in an elastic manner.
"Firestorm is changing how UAV's can be designed, manufactured, and delivered quickly, and the Firestorm system solves a lot of problems for many critical situations. Their long-range and long-duration loitering capabilities are a cost-effective approach to winning in the air. We believe that our Teal 2 drone and the Firestorm UAV could be a great combination for the warfighter," said Red Cat CEO Jeff Thompson.
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