Fintech PR
Global Firefighting Drone Market Forecasted to Reach $2.76 Billion by 2030 as Demand Skyrockets
FinancialNewsMedia.com News Commentary
PALM BEACH, Fla., Aug. 23, 2023 /PRNewswire/ — The Firefighting Drone Market has been growing consistently since after the pandemic, and is projected to have substantial growth in the coming years. Firefighting drones can be remotely controlled and can carry firefighting equipment such as foam dispensers or water cannons. The major purpose of designing firefighting drones was to control fires in areas that are inaccessible to firefighters or fire trucks like dense forests and high-rise buildings. These drones are capable to monitor and capture scenes in instances where firefighters and fire trucks cannot reach them. Several benefits associated with firefighting drones to prevent fire damages is expected to drive the market growth over the forecast period. Growing instances of fire-related accidents in the oil and gas industry are majorly driving the demand for firefighters drones. In this industry, drones are being deployed for several applications such as inspection of offshore platforms, leak detection in pipelines, refining equipment, emergency response, and material handling. As per Cognitive Market Research’s latest published report, the Global Firefighting Drone market size was $1.31 Billion in 2022 and it is forecasted to reach $2.76 Billion by 2030. Firefighting Drone Industry’s Compound Annual Growth Rate will be 9.8% from 2023 to 2030. The report said: “In recent years, firefighting drones are used to fight forest fires. These drones can fly immediately to the location and map the affected area. During a forest fire, a firefighter drone gathers information about hitting hot spots with the help of thermal sensors and provides the information to firefighters. Footage or scenes captured by a firefighter drone is converted into a 3D map that allows civil authorities to determine the extent of the damage after the incident and verify damage claims by insurance companies.” Active companies in the markets this week include: Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO), Lockheed Martin (NYSE: LMT), Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), Boeing (NYSE: BA), NVIDIA Corporation (NASDAQ: NVDA).
Cognitive Market Research continued: “In addition, firefighter drones can carry many fire extinguishing components such as foam dispensers or water cannons and spread them in an affected location to prevent further fire spread. Thus, several benefits of these drones are flourishing the market growth during the assessment period. In 2022, North America dominated the firefighting drone market and gained the largest market share of 40.5%. This growth is due to the Federal Aviation Administration’s (FAA) supporting initiatives and high government spending on the development of drones in the region. In the U.S., 43 states have active drone programs, and the highest number of drones found in Texas at 28, in 2022 which is expected to further propel the market growth in coming years.”
Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) BREAKING NEWS: Draganfly Awarded Canadian Provincial Wildfire Services Contract – Draganfly’s technology and drone pilot crews will detect and map wildfires and hotspots for Canadian provincial government to help mitigate the impact of wildfires – Draganfly Inc. (FSE: 3U8) (“Draganfly” or the “Company”), an award-winning, industry-leading drone solution, and systems developer is pleased to announce it will be providing drone pilot crews and drone technology to the a Canadian Provincial Government to assist with firefighting mitigation, preparedness, response, and recovery efforts.
Draganfly’s advanced drone technology and highly trained personnel will aid emergency services in their mission to protect lives, property, infrastructure, and ecosystems.
Draganfly will help conduct night-time missions, identify fire line breaches, and detect hidden hot spots using thermal imaging technology. Draganfly’s services will enhance the firefighting operations, which protect critical infrastructure, towns, valuable natural resources, and help mitigate air quality hazards from the devastating impact of these wildfires.
“Draganfly is humbled to have been selected, and we are committed to our pilot crews and drone technology being a key component in helping ensure wildfire services has the tools needed to combat devastating wildfires,” said Cameron Chell, President, and CEO of Draganfly. “By deploying Draganfly’s highly trained drone pilot crews and technology, we aim to enhance the situational awareness of firefighting operations to save time, money, and lives.” CONTINUED… Read this full press release and more news for Draganfly at: https://www.financialnewsmedia.com/news-dpro/
Other recent developments in the markets of note include:
NVIDIA Corporation (NASDAQ: NVDA) recently announced a broad range of frameworks, resources and services for developers and companies to accelerate the adoption of Universal Scene Description, known as OpenUSD.
NVIDIA is advancing the development of OpenUSD — a 3D framework enabling interoperability between software tools and data types for the building of virtual worlds — through NVIDIA Omniverse™ and a new portfolio of technologies and cloud application programming interfaces (APIs) — including ChatUSD and RunUSD — along with a new NVIDIA OpenUSD Developer Program.
Boeing [NYSE: BA] recently announced that it has ferried an MD-90 airplane to the site where it will be modified to test the Transonic Truss-Braced Wing (TTBW) configuration as part of NASA’s Sustainable Flight Demonstrator project.
As Boeing, NASA and community leaders gathered at the company’s facility today to recognize the milestone in development of the experimental X-66A aircraft, Boeing released photos of the jet’s journey from Victorville, Calif., to Palmdale.
The X-66A is NASA’s first experimental plane focused on helping the U.S. achieve its goal of net-zero aviation greenhouse gas emissions. Modification will begin soon and ground and flight testing is expected to begin in 2028.
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a Technology Company in the Defense, National Security and Global Markets, recently reported its second quarter 2023 financial results. For the second quarter of 2023, Kratos reported Revenues of $256.9 million, Operating Income of $6.7 million, Net Loss of $2.7 million, Adjusted EBITDA of $21.6 million and a consolidated book to bill ratio of 1.1 to 1.0.
Included in second quarter 2023 Net Loss and Operating Income is non-cash stock compensation expense of $6.0 million and Company-funded Research and Development (R&D) expense of $9.9 million, primarily reflecting significant ongoing development efforts being made, including in our Space and Satellite business to develop our virtual, software-based OpenSpace command & control (C2), telemetry tracking & control (TT&C) and other ground system solutions. The second quarter 2023 Net Loss includes a $2.3 million loss attributable to a non-controlling interest, which includes a $2.0 million adjustment recorded to reflect the estimated increase in the value of the redeemable non-controlling interest to the estimated redemption amount by Kratos based upon current forecasted financial performance.
The Space Development Agency (SDA) recently awarded Lockheed Martin (NYSE: LMT) a firm-fixed price agreement valued at approximately $816 million to build 36 Tranche 2 Transport Layer (T2TL) Beta satellites. T2TL is part of an overarching plan to strengthen deterrence with more resilient space architectures for beyond line-of-sight (BLOS) targeting, data transport, and advanced missile detection and tracking.
The T2TL Beta variant satellites will work in tandem with SDA’s Tranche 1 and Tranche 2 networks. They will advance the initial warfighting capability with targeted technology enhancements, mission-focused payload configurations, and increased integration.
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM expects to be compensated forty six hundred dollars for news coverage of the current press releases issued by Draganfly Inc. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
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View original content:https://www.prnewswire.co.uk/news-releases/global-firefighting-drone-market-forecasted-to-reach-2-76-billion-by-2030-as-demand-skyrockets-301907704.html
Fintech PR
Thunes Unveils QR Code Payments Solution Connecting Global Financial Apps to China’s Cashless Economy
Empowering foreign mobile wallets and financial institutions with seamless access to Chinese QR code payments
LONDON and BEIJING, Oct. 22, 2024 /PRNewswire/ — Thunes, the Smart Superhighway to move money around the world, today announced the launch of its revolutionary QR Code Payments solution. This innovation allows Members of the Thunes’ Direct Global Network – including mobile wallets, neo-banks, and banks with mobile capabilities – to connect directly to China’s QR code payment systems operated by the Digital Currency Institute (DCI) and NetsUnion Clearing Corporation (NUCC). Now, users of foreign mobile wallets and financial apps traveling to China can seamlessly make payments by scanning merchant-presented QR codes for payment methods like e-CNY, Alipay, and WeChat Pay, transforming the travel experience for millions.
As China promotes its visa-free travel policies initiative to boost international tourism, Thunes’ launch of the QR Code Payments solution is timely. With an anticipated surge in foreign travelers, the ability to pay using QR codes, the preferred payment method in China, is crucial for providing a smooth, convenient, and local-like experience when visiting China.
According to the Payment System Report, published by the People’s Bank of China, there has been a 25% reduction in ATMs over the past six years, highlighting the accelerating shift toward a cashless economy. Forbes further reports that mobile payments now account for over 85% of all transactions in China.
Foreign travelers often face significant challenges when paying: traditional foreign credit cards are seldom accepted, especially in street shops and at small to medium-sized merchants. Travelers typically need to download and register with local Chinese payment apps that request sensitive personal data, causing friction and inconvenience. Thunes’ QR Code Payments solution addresses these pain points by offering a seamless, secure, and user-friendly payment experience for end-users of foreign financial apps such as mobile wallets and neo-banks.
Thunes is already working with valued Members of Thunes’ Direct Global Network, such as Airtel, Hanpass (South Korea), m-Pesa (Kenya), and Vodacom (Tanzania), to make the QR Code Payments solution available for their customers traveling to China. Other Members are expected to join soon, expanding the reach and impact of this innovative solution.
Floris de Kort, CEO of Thunes, stated: “Our Direct Global Network continues to break down barriers for our Members, enabling them to offer their customers unrivaled access to local payment systems worldwide. With this launch, we’re empowering our Members to provide their app users the convenience of paying like a local in China, quickly, dependably, and with full transparency. By enabling Thunes’ Chinese QR code payments into their apps, mobile wallets, neo-banks, and financial institutions can enhance the user experience while unlocking new revenue streams and leading the way in global payment innovation.”
Ian Ferrao, CEO of Airtel Money, said: “Airtel Money has been a long-standing Member of Thunes’ Direct Global Network, and Thunes continually adds value for us and our mobile wallet users. Thanks to their innovative solution, Thunes’ QR Code Payments will serve as a lifeline for African travelers, allowing them to effortlessly navigate China’s digital payment landscape and make purchases with ease, enhancing their overall travel experience.”
Jay Choi, Head of Growth Strategy at Hanpass, concluded: “As a Member of Thunes’ Direct Global Network, we can offer our customers instant and dependable cross-border payment solutions. With the Thunes’ QR Code Payments capability embedded in our application, Koreans visiting China will be able to pay local merchants without the hassle of managing cash or the fear of a transaction being declined. Thunes’ innovation enables our mission to always provide the most user-friendly services to our customers.”
About Thunes:
Thunes is the Smart Superhighway to move money around the world. Thunes’ proprietary Direct Global Network allows Members to make payments in real-time in over 130 countries and more than 80 currencies. Thunes’ Network connects directly to over 7 billion mobile wallets and bank accounts worldwide, via more than 320 different payment methods, such as GCash, M-Pesa, Airtel, MTN, Orange, JazzCash, Easypaisa, AliPay, WeChat Pay and many more. Thunes’ Direct Global Network differentiates itself through its worldwide reach, in-house SmartX Treasury System and Fortress Compliance Platform, ensuring Members of the Network receive unrivaled speed, control, visibility, protection, and cost efficiencies when making real-time payments, globally. Members of Thunes’ Direct Global Network include gig economy giants like Uber and Deliveroo, super-apps like Grab and WeChat, MTOs, fintechs, PSPs and banks. Headquartered in Singapore, Thunes has offices in 15 locations, including Abidjan, Barcelona, Beijing, Dubai, Hong Kong, Johannesburg, London, Manila, Nairobi, Paris, Riyadh, San Francisco, Sao Paulo and Shanghai. For more information, visit: https://www.thunes.com.
View original content:https://www.prnewswire.co.uk/news-releases/thunes-unveils-qr-code-payments-solution-connecting-global-financial-apps-to-chinas-cashless-economy-302282874.html
Fintech PR
Xinhua Silk Road: Eastern China city welcomes record-high foreign investment amid vibrant emerging industries
BEIJING, Oct. 22, 2024 /PRNewswire/ — After paid-in foreign investment renewed to a 20-year high last year, Jiangyin, a private economy-reliant city in east China, saw its January-August data of the kind surge to 1.16 billion U.S. dollars.
The city, as a pacesetter among comparable localities in Jiangsu Province, absorbed the eye-catching foreign investment from both old and new foreign investors eager to participate in its strategically emerging industries.
Boasting relatively resilient foundations for integrated circuit, new energy, high-end equipment, bio-pharmacy, and other industries, Jiangyin City embraced 44 new foreign-invested projects in the first eight months of this year.
For instance, the city welcomed in August a new investment project from Trustchip Korea, which planned to build its Jiangyin headquarters and semiconductor equipment assembly and production base there.
Upon operation, annual sales of the base is predicted to reach 350 million yuan. Its second phase mulls construction of the China-Korea chip valley industrial park, where a 3rd generation automotive-grade semiconductor module packaging and wafer factory is planned to be founded.
Together with Jiangyin City, the South Korean company endeavors to jointly build a new model that exemplifies vibrancy of the integrated circuit industry there.
As a miniature of foreign companies’ participation in the major strategically emerging industries of Jiangyin, 30 others such as Unilever and EDF also established new investment programs in Jiangyin this year.
Other “old friends”, referring here to existing foreign-funded enterprises in Jiangyin, scaled up their investment too.
After 10 million U.S. dollars of investment out of profits were in place in early 2024, Alfa Laval (Jiangyin) equipment manufacturing Co., Ltd. who has been running business in China for 30 years intended to upsize its investment by 10 million U.S. dollars next year.
All of these resulted largely from the city’s unremitting efforts in creating a fair, rule of the law-based, policy-leading and innovation-encouraging business environment for foreign-funded enterprises.
Under a 3-year action plan to pool foreign-funded enterprises’ regional headquarters, real rewards were provided to foster their investment expansion, R&D innovation and profits-based reinvestment in Jiangyin.
Currently, these business-friendly policies and life facilitation measures of six aspects regarding entry and exit, payment, working, living and travelling, consumption, education and medicare of foreigners are translating into pragmatic boosters for the city to attract more foreign investors.
Original link: https://en.imsilkroad.com/p/342713.html
Photo – https://mma.prnewswire.com/media/2536883/Jiangyin.jpg
View original content:https://www.prnewswire.co.uk/news-releases/xinhua-silk-road-eastern-china-city-welcomes-record-high-foreign-investment-amid-vibrant-emerging-industries-302282861.html
LONDON, Oct. 22, 2024 /PRNewswire/ — Most of the approximately 9,500 high-net-worth individuals (HNWIs) forecast to leave the UK this year are expected to head to the EU, which looks set to enjoy an influx of +6,500 millionaires from Britain by the end of December. The UAE will welcome the next biggest cohort fleeing the UK (+800 HNWIs), followed by the US (+720), Australasia (+300), and the Caribbean Islands in 5th place, with +250 millionaires making a permanent move to their tropical shores.
In a follow-up to the 2024 Henley Wealth Migration Dashboard, international investment migration advisory firm Henley & Partners and New World Wealth have published their latest forecast ahead of next week’s UK budget.
Based on data over the past nine months, the UK’s wealth exodus or WEXIT is expected to include 85 centi-millionaires and 10 billionaires, and in an ironic reversal of Brexit fortunes, 68% are heading for Europe, with favored destinations being Italy, Malta, Greece, Portugal, Switzerland, Monaco, Cyprus, France, Spain, and the Netherlands.
As Stuart Wakeling at Henley & Partners’ UK office points out, “the last two quarters have been record-breaking, with a 160% increase in applications by UK-based investors for investment migration programs over the last six months compared to the previous six months (October 2023 to March 2024). Brits have risen from 20th place on our firm’s client source market list in 2018 to 4th place this year in terms of global demand.”
The UK’s high tax rates and concerns about additional tax hikes that could be announced in Labour’s first budget in 14 years, are highlighted as being among the main reasons. New World Wealth’s Head of Research, Andrew Amoils, says the UK’s capital gains tax and estate duty rates are among the highest in the world. “What many politicians and academics in the UK fail to understand is that there are several high-income countries globally that don’t levy capital gains tax, including the likes of Singapore, the UAE, and even New Zealand. There is also a much longer list of countries that don’t charge estate duty, including high-growth markets such as Canada, Australia, and Malta.”
Peter Ferrigno, Director of Tax Services at Henley & Partners, says by promising not to increase income tax or VAT, the new government has limited its ability to raise new revenues. “Inheritance tax is at 40% rate and applies to estates above GBP 325,000, which is very high by global standards. Where the assets are still under the control of the original owner, we expect increasing restrictions on whether the transfer is effective for tax purposes or not. As regards the ‘carried interest’ loophole, the latest thinking is that taxing it at the full rate of income tax would drive a large chunk of the industry away, so we expect some change, but not all the way.”
View original content:https://www.prnewswire.co.uk/news-releases/wexit-wealthy-brits-exit-uk-for-eu-ahead-of-budget-302280346.html
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