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Global Commercial Drone Market Projected To Reach $54 Billion By 2030
FinancialNewsMedia.com News Commentary
PALM BEACH, Fla., Aug. 29, 2023 /PRNewswire/ — A drone is a flying device, including a camera and sensor. It is also known as Unmanned Aerial Vehicle (UAV). Different industries are investing in commercial drone technology and paying close attention to expanding their awareness of commercial applications, which is expected to boost the business outlook. Numerous firms are investing in new start-ups through well-funded strategic techniques to address the need for commercial drone portfolios such as advertising & marketing, surveying, air taxis, logistics, surveillance, monitoring, and mapping. The market growth is attributed to the growing demand for commercial drones for cargo and logistic operations. The global COVID-19 pandemic has enabled the market to witness a higher-than anticipated demand across all regions compared to pre-pandemic levels. A recent report from Fortune Business Insights predicted that the global commercial drone market which was valued at USD 8.77 billion in 2022 is projected to grow from USD 10.98 billion in 2023 to USD 54.81 billion by 2030, exhibiting a CAGR of 25.82% during the forecast period. The report said: “The market experienced a surge in demand as soon as the lockdown was imposed following the spread of COVID-19. The pandemic prompted government agencies to make strenuous efforts to improve hospital infrastructure, basic medical facilities, and health facilities worldwide, simultaneously limiting transportation and movement to avoid spreading the virus further. Recently, numerous industries worldwide have started using drones to perform important operations successfully. Major companies are designing and developing lightweight commercial drones for various commercial applications such as medical emergency transportation, inspection & maintenance, filming & photography, mapping & surveying, surveillance & monitoring, and precision agriculture.” Active companies in the markets this week include: Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO), Amazon.com, Inc. (NASDAQ: AMZN), Alphabet Inc. (NASDAQ: GOOG), Walmart Inc. (NYSE: WMT), Joby Aviation, Inc. (NYSE: JOBY).
Fortune Business Insights continued: “Growing adoption of small UAVs for different commercial applications such as filmmaking, relief & rescue operation, precision, agriculture, law & enforcement, wildlife monitoring, disaster management, research & development, aerial photography, entertainment, logistics & transportation, and construction is expected to fuel the market growth. North America held the dominant commercial drone market share in 2022 and stood at USD 3.24 billion in 2021 and is expected to dominate the global market during the forecast period (2030). The rise in the adoption of commercial drones and the presence of key drone manufacturers in the U.S. are anticipated to fuel market growth in the region. Additionally, according to the Federal Aviation Administration FAA, 872,694 drones were registered in the U.S. in May 2021, while the numbers are expected to grow during 2022-2030, owing to rising demand.”
Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) BREAKING NEWS: Draganfly Receiving First Pre-orders for Promo Drone’s Next-Generation UAV Communications Solution Starling X.2 – The Starling X.2 combines Draganfly’s weather-resistant Commander 3 XL airframe with Promo Drone’s video display innovation, showcasing an ultra-bright LED display panel that’s simple to assemble – Draganfly Inc. (FSE: 3U8) (“Draganfly” or the “Company”), an award-winning, industry-leading drone solutions, and systems developer, is pleased to announce the preorder availability of the Starling X.2, the cutting-edge rapid-response messaging and aerial advertising drone developed in collaboration between Promo Drone and Draganfly.
The Starling X.2 incorporates Draganfly’s versatile, weather-resistant, and easy-to-assemble Commander 3 XL airframe with Promo Drone’s video display technology featuring ultra-bright LED display panel to communicate and promote important information in various sectors, including public safety, emergency response, outdoor events, advertising, marketing, and fan-centric experiences.
The Starling X.2 was designed to improve the capabilities of first responders in critical situations. By providing a highly visible aerial messaging platform, the drone enhances situational awareness during natural disasters, rallies, search and rescue operations, and other essential notifications. This contributes significantly to public preparedness and responsiveness.
“The Starling X.2, whether applied to enhance advertising, amplify participation in events, or assist emergency and first responder communications, redefines how drone technology can be used for communication purposes,” says Cameron Chell, President and CEO of Draganfly. “This drone is also an example of how an innovative partnership can drive technology to enhance communication and public awareness.” 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:
Amazon.com, Inc. (NASDAQ: AMZN) recently announced the next generation of its all-time best-selling line of cameras—Blink Outdoor 4. Powered by Blink’s proprietary silicon, Blink Outdoor 4 enables high image quality, enhanced low light sensitivity, and a wider field-of-view significantly improved over the previous generation—all while maintaining up to two years of battery life. Blink’s on-device computer vision also adds support for person detection (Blink subscription required), giving customers the ability to customize the motion notifications to only when a person is present. Blink Outdoor 4 starts at just $119.99—more information is available at www.amazon.com/blink.
“Customers continue to love the image quality, versatility and affordability of Blink cameras and doorbells—in fact, we saw a 41% increase in the number of Blink devices sold year-over-year, with 60% of customers last year being new to Blink entirely,” said Mike Harris, chief operating officer at Blink. “Blink Outdoor 4 is our most versatile camera yet. It gives customers more of what they love—fantastic image quality, even in low light, plus new advanced features like person detection powered by on-device computer vision—all without compromising on our battery life promise.”
Alphabet Inc. (NASDAQ: GOOG) Google Cloud recently announced that employee experience platform Culture Amp will use Google’s Vertex AI as the foundation of its generative AI solutions, following a successful pilot that could save HR professionals hundreds of hours normally spent analyzing employee feedback.
Culture Amp will use Vertex AI to train, model, and fine-tune its generative AI capabilities, underpinning efforts to combine highly accurate and actionable results from employee data with full transparency into how AI derives its conclusions.
“Our multi-year journey with AI and machine learning has shown us that you can’t take a short-term, opportunistic approach to this technology—you need a rigorous operating model and ethical principles to create value in a way that doesn’t endanger your customers or their employees’ wellbeing,” said Doug English, Co-Founder and Chief Technology Officer, Culture Amp. “Google Cloud’s technical capabilities and commitment to responsible AI gave us the confidence to make it the foundation for building trustworthy and transparent generative AI functions within our Employee Experience Platform that keep humans firmly at the center of employee experience.”
Wing, Google-parent company Alphabet’s drone-delivery subsidiary, recently announced a new partnership with Walmart Inc. (NYSE: WMT) in the Dallas-Fort Worth metro area. Over the coming month, the drone-delivery service will start operating from two Walmart Supercenters reaching approximately 60,000 homes. According to Walmart’s corresponding announcement post, using Wing’s app, “customers will be able to order items like frozen treats (when those ice cream cravings hit), household essentials, last-minute meal solutions like macaroni and cheese, and even fragile items like eggs.”
And delivery will be fast. Wing is aiming to complete deliveries in under 30 minutes. To achieve that, its drones can fly at speeds of up to 65 mph and have a six-mile range. Crucially, the FAA allows one pilot to oversee multiple drones—all of which can be beyond visual range. As Shannon Nash, Wing’s chief financial officer writes in the announcement, “Wing’s technology allows operators to oversee the system from a remote location, which means pilots won’t need to be stationed at stores or customer homes. The aircraft essentially fly themselves, so each operator is approved to safely oversee many drones at the same time.” According to Bloomberg, though, Wing still has to have a spotter on the ground who keeps an eye out for small aircraft that aren’t capable of broadcasting their location.
Joby Aviation, Inc. (NYSE: JOBY), a company developing electric vertical take-off and landing (eVTOL) aircraft for commercial passenger service, recently announced it has submitted all of its Certification Plans to the Federal Aviation Administration (“FAA”), marking further progress toward completing the third of five stages required to certify its aircraft for commercial use.
In the third stage of the FAA type certification process (“Certification Plans”), Joby specifies the tests, analyses, and design reports the Company intends to perform to demonstrate compliance with each safety regulation that applies to the Company’s aircraft, as defined in the second stage (“Means of Compliance”).
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