Global Drone Surveying Market Expected To Reach A Valuation Of $1.38 Billion This Year
FinancialNewsMedia.com News Commentary
PALM BEACH, Fla., Sept. 19, 2023 /PRNewswire/ -- The drone industry as a whole has been on a technological improvement spree for a quite long time. The drone industry has witnessed multiple breakthroughs in its uses and operations. The drone market is flooded with companies providing an abundance of drone-related products and services. Drone surveying services have emerged as one of the most sought-after drone related services in the past few years. Drone surveying services are being applied in multiple industries such as agriculture, mining, infrastructural development, energy, transportation, etc. and the demand continues to increase, and more industries are expected to integrate drones for their operation use. According to Fact.MR, a market research and competitive intelligence provider the global drone surveying market is estimated to reach a valuation of US$ 1380.4 million in 2023. The market is further expected to grow at a CAGR of 19.3% during the forecast period of 2023-2033 and achieve a valuation of US$ 8061.5 million by the end of 2033. Active companies in the markets this week include: Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO), Intel Corporation (NASDAQ: INTC), AgEagle Aerial Systems Inc. (NYSE American: UAVS), Teledyne Technologies Incorporated (NYSE: TDY), Trimble (NASDAQ: TRMB).
The Fact.MR report said: "Currently, the drone surveying market is enjoying a valuation of US$ 1157.1 million and is expected to witness double-digit growth in the next 10-15 years. The drone industry, especially the companies proving products/services related to surveying and mapping are witnessing huge demand from both consumer and investors. Venture capitalists and private equity firms are investing millions of dollars in these companies to be early participants in the soon-to-be multi-billion-dollar industry."
Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) BREAKING NEWS: Draganfly's Commander 3 XL Platform Selected by State Geological Survey - Draganfly Inc. (FSE: 3U8) ("Draganfly" or the "Company"), an award-winning, industry-leading drone solutions, and systems developer, is pleased to announce that a State Geological Survey has selected Draganfly's Commander 3 XL platform to enhance exploration and data collection during geological research and surveying efforts.
The State Geological Survey offers geologic data to improve public understanding of geology, hazards, and mineral resources. Draganfly's UAV platform will aid in research and investigations for not only general geology but also geologic resources, environmental geology, and hazards, with results shared among governmental agencies, private industry, and the general public. The Commander 3 XL can maximize the State Geological Survey payload capacity and allow for longer flight times while also meeting the National Defense Authorization Act requirements.
Draganfly's Commander 3 XL is a versatile platform capable of accommodating a wide range of interchangeable payloads. It is the ideal choice for geological survey applications, promising enhanced efficiency and precision in the field. This high-endurance drone, known as the "Swiss Army Knife of drones," can transport up to 22 pounds of payload using drop and winch-down systems, remaining airborne for 50 minutes, with a 24-mile range and a top speed of 45 mph. It supports automated and manual flight operations, with a convenient design allowing easy assembly and transport.
"Draganfly's Commander 3 XL is an outstanding platform that can scale to provide valuable geological information and contribute to scientific advancements," said Cameron Chell, President and CEO of Draganfly. "We are honored to be chosen to support critical research efforts and contribute tomeaningful and impactful solutions for the challenges facing our world today." CONTINUED… Read this full press release and more news for Draganfly at: https://draganfly.com/news/
Other recent developments in the markets of note include:
Intel Corporation (NASDAQ: INTC) recently announced one of the industry's first glass substrates for next-generation advanced packaging, planned for the latter part of this decade. This breakthrough achievement will enable the continued scaling of transistors in a package and advance Moore's Law to deliver data-centric applications.
Hamid Azimi, corporate vice president and director of substrate technology development at Intel Corporation, holds an Intel assembled glass substrate test chip at Intel's Assembly and Test Technology Development factories in Chandler, Arizona, in July 2023. Intel's advanced packaging technologies come to life at the company's Assembly and Test Technology Development factories.
AgEagle Aerial Systems Inc.(NYSE American: UAVS), an industry-leading provider of full stack flight hardware, sensors and software for commercial and government use, recently announced that DeltaQuad, a global leader in the development, design and production of electrical, long range Vertical Take-Off and Landing ("VTOL") drones, is the first to fully integrate AgEagle's latest sensor innovation, the RedEdge-P™ dual, in its new DeltaQuadEVO.
The EVO is DeltaQuad's next generation UAV technology offering a wide range of advanced features and exceptional performance. With over four hours of flight time, up to 270 km range, dual payload bays and high quality composites, EVO provides optimal versatility and superior functionality for its global base of commercial and government customers. When equipped with the RedEdge-P dual, the DeltaQuad EVO is empowered to capture imagery that mirrors Landsat 8 and Sentinel-2 satellite bands in just one drone flight and at a higher resolution, making it ideal for plant classification, weed identification, environmental research and conservation and vegetation analysis of water bodies.
Teledyne FLIR Defense, part of Teledyne Technologies Incorporated (NYSE: TDY), recently showcased a new technology concept at the recent DSEI conference in London earlier this month, that will allow crews to autonomously launch small drones operated from inside a military vehicle; perform reconnaissance, surveillance, and target acquisition (RSTA); and then recover the aircraft without ever having to leave the safety of the vehicle.
The Black Recon™ Vehicle Reconnaissance System (VRS) is a development program that features an entirely new micro-unmanned aerial vehicle (UAV) designed to withstand the rigors of traveling on infantry and other fighting vehicles. The system is built to provide continuous untethered reconnaissance at flight speeds that allow the UAV to work ahead of advancing vehicles, supplying valuable situational awareness even beyond line of sight.
Trimble (NASDAQ: TRMB) recently announced that Dart Transit Company, based in Eagan, Minn, has selected Trimble's Instinct driver experience and Video Intelligence fleet management solutions. Dart will be implementing the Trimble technologies across its fleet of more than 1,000 trucks to create a more connected driver and fleet management experience, while improving the safety, compliance and efficiency of its fleet.
Founded in 1934, Dart is one of America's largest and most successful truckload dry van carriers, providing shippers with a wide variety of transportation-related services through the Dart Network of companies. Dart's core values include safety and engagement, both of which convey Dart's commitment to adopting the latest in transportation technology to improve outcomes for their drivers.
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