The commercial drone sector is a rapidly growing industry with a wide range of applications, including aerial photography, mapping, surveying, inspection, and delivery services. According to Strategic Market Research, the worldwide commercial drone market size is expected to hit around USD 47.38 billion by 2030 and witness strong growth at a CAGR of 28.58% through 2030.
For investors looking to capitalize on this growth, there are several potentially promising companies in the commercial drone sector. These companies offer a range of drone products and services, including drone hardware, software, and services, and have the potential to benefit from the increasing adoption of drones in various industries.
For this sector spotlight, let’s take a closer look at four companies in the commercial drone sector that could be worth watching for potential investment opportunities.
Epazz Inc. (OTC Pink: EPAZ) is a leading provider of drone technology, blockchain mobile apps, and cloud-based business software solutions. Recently, the company announced some exciting developments regarding their spinoff company, ZenaDrone Inc.
The company has been dedicated to improving intelligent unmanned aerial vehicle technology by incorporating machine learning software and AI. Their goal is to revolutionize the hemp farming sector and evolve into a smart, multifunctional industrial surveillance, inspection, and monitoring solution.
In a recent development, Ossian Smyth, Minister of State at the Department of Public Expenditure and Reform of Ireland, National Development Plan Delivery and Reform, and the Department of Environment, Climate, and Communications, visited ZenaDrone’s offices in Dublin, Ireland, last week. This visit comes as the company is negotiating with a financing institution for a deal to purchase up to 100 ZenaDrone 1000s for drone as a service operations in Ireland.
The financing terms are non-dilutive and would include a purchase order for up to 100 drones. These drones will be used in Ireland to establish the “drones as a service” operation, with ZenaDrone managing and servicing these drones for Irish farmers, businesses, and government agencies.
During his visit, Minister Smyth had the opportunity to see a ZenaDrone 1000 and meet the Irish team to discuss how ZenaDrone can greatly affect the lives of Irish farmers, businesses, and government agencies. If the financing deal goes through, Irish farmers will have access to advanced precision agriculture drones for monitoring plant health and spraying weeds.
The ZenaDrone 1000 is a green solution that will disrupt the agriculture industry by reducing labor and greenhouse gases. The high-quality camera allows users to take stunning aerial photographs and videos that capture the world’s beauty from new heights. It also has autonomous flight capabilities that prevent it from crashing, even in challenging weather conditions or amid sudden obstacles. The drone’s multiple-sensor system can measure height, depth, and vegetation and establish GPS location to track people, objects, and animals in the frame of its camera for unprecedented accuracy and control.
Shaun Passley, Ph.D., CEO and director of Epazz Inc. and ZenaDrone Inc., said, “The ZenaDrone 1000 has the potential to greatly improve the lives of Irish farmers, businesses, and government agencies.” “We are excited about the opportunity to work with Minister Smyth and bring our innovative technology to Ireland.”
This recent development is a significant step for ZenaDrone and Epazz Inc. It showcases the potential of their cutting-edge technology in the agriculture industry and highlights their commitment to innovation and sustainability. With their focus on customized cloud applications and metaverse solutions, Epazz Inc. is positioning itself as a leader in the tech industry, making it a promising investment opportunity for those looking to invest in innovative and sustainable technology.
Draganfly Inc. (NASDAQ: DPRO) makes and sells commercial unmanned aerial vehicles. They offer a variety of products, including quadcopters, fixed-wing aircraft, ground-based robots, and handheld controllers. Draganfly’s software is used for tracking, live streaming, flight training, and data collection. The company also provides customized services like engineering, training, consulting, spraying, flight services, and geographic information system data. Draganfly’s customers come from a range of industries, including public safety, agriculture, industrial inspections, security, mapping, and surveying.
Recently, Draganfly announced its participation in XPONENTIAL ’23, where it will showcase two of its latest North American-made drone technologies. In Denver, Colorado, on May 8th, Draganfly will display its Heavy Lift and Commander 3XL drones. The Heavy Lift Drone is a versatile, industrial multirotor UAV designed to lift more and fly further, with a payload lift capacity of 67 pounds and up to 55 minutes of flight time. The Commander 3XL Drone, on the other hand, is a high-endurance, weather-resistant UAV that is designed for easy assembly and rapid deployment, with the capability to transport up to 22 lb of payload.
Moreover, Cameron Chell, President and CEO of Draganfly, will join experts from across the commercial industry at the Law-Tech ConnectTM Workshop in a panel discussion about how drone technology is redefining the way conflicts are managed and how UAVs have proven to be a more stealthy and cost-effective alternative to conventional aircraft for global military and emergency operations. The panel discussion will take place on May 8th at 1:40 PM MST.
With its focus on innovation and customer satisfaction, Draganfly is well-positioned to continue leading the drone industry and providing reliable solutions to organizations worldwide.
Joby Inc. (NYSE: JOBY) is among a rising number of drone manufacturers targeting the passenger drone market. Although this area involves significant risk, industry experts believe there is a potential opportunity for Joby’s commercial electric-powered aircraft. These aircraft could offer shorter regional flights, which may become more in demand as major airlines shift their focus away from this market.
Joby recently announced the signing of a long-term agreement with Toyota Motor Corporation to supply key powertrain and actuation components for the production of Joby’s aircraft. This announcement builds on the long-standing partnership between Joby and Toyota, which includes collaborating on various projects to support the production and assembly of Joby’s aircraft. Toyota is also Joby’s largest external shareholder, having invested approximately $400 million in the company.
According to JoeBen Bevirt, founder and CEO of Joby, “Our partnership with Toyota continues to be an integral part of Joby’s success, from assisting in the design of our pilot production line in Marina, California, to supplying key components for our aircraft.” “I’m grateful for Toyota’s unwavering dedication to Joby as we work together to deliver a new form of fast, quiet, and emissions-free mobility for cities and communities around the world.”
The components, designed by Joby and manufactured by Toyota, will be delivered to Joby’s powertrain and electronics manufacturing facility in San Carlos, California, before the finished assemblies are shipped to the company’s pilot production line in Marina for integration. These facilities were designed with Toyota’s help, leveraging decades of experience delivering reliable, high-quality cars at high volumes. The pilot production line in Marina is intended to prove out scalable tooling and processes at low volumes in advance of aircraft production at full scale.
While more involved in military applications, Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a leading technology company that specializes in developing and deploying affordable, transformative systems, products, and solutions for national security, allies, and commercial enterprises around the globe.
KTOS places a strong emphasis on affordability as a technology and is committed to bringing breakthrough technology to the market at a low cost with actual products, systems, and technologies. Kratos utilizes proven commercial and venture capital-backed approaches to research and streamlined development processes to ensure that it is the first to market with solutions well ahead of the competition.
Kratos is a recognized technology disruptor in several core market areas, including space and satellite communications, cyber security and warfare, unmanned systems, rocket and hypersonic systems, next-generation jet engines and propulsion systems, microwave electronics, C5ISR, and virtual and augmented reality training systems.
Kratos Defense & Security Solutions, Inc. recently announced that it will publish its financial results for the first quarter of 2023 after the close of the market on Wednesday, May 3rd. The company’s management will discuss its financial results and operations in a conference call scheduled to begin at 2:00 p.m. Pacific. As a technology company in the defense, national security, and global markets, Kratos could be poised for continued growth and innovation in the years to come.
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