Fintech PR
New Technology Driving Global Commercial Drone Market That’s Projected To Reach $142 Billion By 2032
FinancialNewsMedia.com News Commentary
PALM BEACH, Fla., Sept. 6, 2023 /PRNewswire/ — A number of recent reports all project that the commercial drones market ought to witness a positive growth rate owing to increasing demand for commercial across various end-user industries. The Brainy Insights estimates that the commercial drones market will grow from USD 31.84 billion in 2022 to USD 142.90 billion by 2032. The advancements in UAV technology have transformed and revolutionized efficient airborne surveillance and monitoring. This has enabled more efficient and accurate operations. The end-user industry verticals are increasingly using drone technology for forestry, infrastructure inspection, animal conservation, and search & rescue operations. Their increased capabilities and accuracy distinguish advanced UAVs compared to ordinary drones. The report said: “Drones rely heavily on advanced technologies, but the majority of them are still in under-development currently. The introduction of autonomous flying technology is projected to impact market growth in the upcoming years positively. The advancement of dynamic routing handoffs between machine and human controllers and system-failure reactions is expected to boost the demand for commercial drones. With improved autonomous control, the organizations will pursue the elusive utilization of commercial drones in the areas, including repetitive surveillance of construction projects, pipelines, and mines. Because of these attributes, the commercial sector is seeing a surge in demand for drones, which improves productivity by lowering total costs and boosting the visualization of projects. Additionally, the utilization of UAVs in determining accuracy, especially in the construction industry, is anticipated to provide lucrative growth opportunities in the upcoming years.” Active companies in the markets this week include: Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO), Northrop Grumman Corporation (NYSE: NOC), QUALCOMM Incorporated (NASDAQ: QCOM), Boeing (NYSE:BA), Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS).
The article continued: “The hybrid segment is expected to grow at the highest CAGR during the forecast period. The type segment is divided into fixed-wing, hybrid and rotary blade. The hybrid segment is expected to grow at the highest CAGR during the forecast period. The hybrid commercial drones enhance and optimize power and efficiency by integrating fuel with the battery. Also, these commercial drones have a higher payload capacity and can fly for extended periods in severe weather conditions.” North America region emerged as the most significant region within the global commercial drone market, with a 35.0% market revenue share in 2022. Asia-Pacific is expected to grow at the highest CAGR during the forecast period in the global commercial drones market. The Asia-Pacific region would significantly expand. The region is experiencing strong demand of the commercial drones because of the developing economies such as South Korea, Japan, India and China. Additionally, China is becoming a major hub for the drone technology in recent years. Various start-up companies are deeply investing their research and development activities in order to improve the drone safety and innovate new commercial drone applications. These factors are augmenting the regional market growth and development.”
Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) BREAKING NEWS: Draganfly Unveils New Commander 3 XL Hybrid Drone at Commercial UAV Expo – Draganfly’s new Hybrid Commander 3 XL with over 3 hr flight time will be on display at booth #1122 where attendees can learn about its enhanced flight time and payload capabilities – Draganfly Inc. (FSE: 3U8) (“Draganfly” or the “Company”), an award-winning, industry-leading drone solutions, and systems developer, is pleased to announce the unveiling of its newest product, the Commander 3 XL Hybrid, at the Commercial UAV Expo taking place at the Caesars Palace, Las Vegas, from September 5-7.
The Commander 3 XL Hybrid leverages the North American built highly modular and highly adaptable Commander 3 XL airframe. This cutting-edge system significantly extends flight duration, allowing operators to achieve more in a single flight than ever before.
Like the Commander 3 XL, the Commander 3 XL Hybrid maintains the Swiss army like versatility, accommodating a wide range of payloads, including Draganfly’s Precision Delivery System. The liquid-cooled powertrain efficiently drives all UAV systems, resulting in an increase in flight endurance with the ability to fly a payload of up to 4kg or 8.8 lb for up to 3 hours, making this the ideal system to support almost any operation.
The Commander 3 XL Hybrid ensures operational efficiency by overcoming remote charging and battery transport challenges, enabling missions to proceed without logistical limitations. Its new fuel injection system delivers exceptional power output and industry-leading fuel efficiency, allowing for effortless startup in various environments and altitudes. The versatile hybrid power plant takes advantage of gasoline or heavy fuels, and features robust on-board diagnostics to ensure consistent performance and unmatched reliability.
“Driven by customer demand the Commander 3 XL Hybrid is Draganfly’s latest technological advancement designed to assist various sectors to achieve more than ever before,” said Cameron Chell, President and CEO of Draganfly. “This new platform offers extended flight times, logistical efficiency, and reliability to achieve peak operational efficiency without compromise. We are excited to be able to showcase the Commander 3 XL Hybrid at this year’s Commercial UAV Expo alongside all our other innovative drone technology.”
Attendees will have an opportunity to explore the Commander 3 XL Hybrid at Draganfly’s booth #1122, as well as interact with Draganfly’s team of experts, and learn about Draganfly’s other cutting-edge products such as the Heavy lift drone, Starling X.2, and Commander 3 XL. Learn more about the Commander SXL Hybrid during our live stream at 10AM PST/1PM EDT from CUAV. 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:
Northrop Grumman Corporation (NYSE: NOC) has recently been selected by the Space Development Agency (SDA) to design and build 36 data transport satellites, the first space vehicles in the latest generation of its low-Earth orbit Proliferated Warfighter Space Architecture (PWSA). The team will now update the company’s Tranche 1 design to add new broadcast and tactical communications capabilities to PWSA.
The satellites will integrate with, and expand the PWSA mesh network, utilizing high-data-capacity optical crosslinks to deliver accessible, near-real time communications to U.S. warfighters and defensive platforms operating around the globe. The design for this latest iteration, known as Tranche 2 Transport Layer Beta (T2TL Beta), builds on the 42 Tranche 1 Transport Layer (T1TL) and 14 Tranche 1 Tracking Layer (T1TRK) satellites that SDA previously announced it had awarded Northrop Grumman. The T2TL Beta space vehicles add new broadcast and tactical waveforms improving the capabilities of the overall PWSA.
QUALCOMM Incorporated (NASDAQ: QCOM) recently published its 2022 Corporate Responsibility Report which said STEM drives the breakthrough technologies and inventions we bring to life. As technology leaders and a Company of inventors, we are committed to developing a highly skilled and inclusive workforce that stands ready to meet global demand and address the most pressing challenges of our time.
A diverse pipeline of STEM professionals is vital for our continued leadership in breakthrough technologies. As we look at some of the current workforce challenges in the United States and beyond, we’ve dedicated our resources to supporting initiatives that: Help to bridge the STEM skills gap among students globally; Build STEM capacity among teachers and educators; Engage women and URM in STEM fields; and Leverage our employees as STEM ambassadors in our communities.
Boeing (NYSE:BA) and Aviation Capital Group LLC (ACG) recently announced that the airplane lessor has finalized an order for seven 737-8 and six 737-10 jets as ACG grows its single-aisle options to meet robust customer demand for the fuel-efficient 737 MAX airplane family.
The new, incremental order includes seven 737-8 and six 737-10 jets as ACG grows its single-aisle options to meet robust customer demand for the fuel-efficient 737 MAX airplane family.
“We are pleased to expand ACG’s commitment to the 737 MAX program. This additional order will allow ACG to offer highly fuel efficient and versatile aircraft to our airline customers worldwide,” said Steven Udvar-Hazy, Senior Vice President and Chief of Aircraft Operations at ACG.
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.
Eric DeMarco, Kratos’ President and CEO, said, “For Q2, Kratos generated consolidated organic revenue growth of 10.7%, Adjusted EBITDA of $21.6 million, cash flow from operations of $23.6 million and free cash flow from operations of $20.7 million. Kratos’ Unmanned Systems book to bill ratio for Q2 was 1.2 to 1.0 and Kratos’ overall book to bill ratio both for the second quarter and year to date was 1.1 to 1.0. Additionally, we have a record backlog and a bid and proposal pipeline of approximately $10 billion, including hypersonic, space, propulsion system, satellite communications and drone opportunities, with several where multiple Kratos business units are collaborating in a company-wide Kratos cross-divisional pursuit.”
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LONDON, TALLINN, Estonia and GIBRALTAR , March 11, 2025 /PRNewswire/ — Orbital, a multi-licensed provider of stablecoin and traditional payment solutions, announces the integration of The Open Network (TON) blockchain into its Crypto Payment Gateway, enabling merchants to expand into emerging markets.
TON is a high-performance layer-1 blockchain designed for fast, low-cost transactions. Its deep integration with Telegram has fueled rapid adoption, particularly in emerging markets such as Turkey, Brazil and Indonesia.
“At Orbital, we continuously listen to our clients while shaping the future of global payments. Our mission is to make payments more accessible and secure so businesses can focus on growth. By integrating TON Blockchain for stablecoin payments, we’re reinforcing our commitment to building a powerful, global payments platform—one that unifies stablecoin speed with traditional finance to move money smarter.”– said Chris Mason, CEO of Orbital.
Orbital’s Crypto Payment Gateway allows businesses to accept crypto payments across six currencies, including two major stablecoins, on five blockchains. Merchants can choose from several options to accept crypto payments, including Embedded Payments Pages, a WooCommerce Plugin, or fully custom solutions using the Orbital API.
Once payments are accepted, they can be used within Orbital’s all-in-one payment platform, which also allows businesses to receive assets in major stablecoins, 11 traditional currencies, and 60+ exotic currencies, via SWIFT, Faster Payments, CHAPS, and Fedwire payment systems. Businesses can benefit from global accounts in both stablecoins and traditional currencies, exchange assets, initiate payouts, and handle tailored requests via the OTC desk, creating a smarter way to move money globally and scale efficiently.
Why Supporting TON Blockchain for Stablecoin Payments Matters
- Growing adoption – TON now has 2.7 million holders of the most widely used stablecoin on the network, with a total supply of $1.43 billion (Tonscan.org, Feb 2025).
- Lower transaction costs – Stablecoin payments on TON are more cost-effective compared to Ethereum and TRON (Gasfeesnow.com).
- Engaging with Telegram’s 950M+ user base unlocks significant distribution opportunities.
While stablecoins offer significant efficiencies, they carry risks related to issuer solvency, reserve adequacy, and evolving regulatory frameworks. Businesses should assess these factors when considering stablecoin adoption.
For more details on TON Blockchain support and how it benefits business, visit Orbital’s Website and request a call with our team.
Media Contact
Andrea Pearson
Head of Marketing & Corporate Communications, Orbital
[email protected] www.getorbital.com
About Orbital
Orbital is an award-winning global payments platform with over 8 years of experience in orchestrating secure and seamless stablecoin and traditional payments for businesses globally. Headquartered in London, Tallinn, and Gibraltar, Orbital is licensed as an FCA-authorized payment institution in the UK, an EMI and DLT Provider in Gibraltar, a VASP in Estonia, and holds VQF SRO membership in Switzerland.
Orbital equips B2B and B2C businesses with an all-in-one platform that offers named vIBANs, Stablecoin Wallets, and the ability to pay-in, payout, and exchange across all major stablecoins, traditional currencies, and over 80 exotic currencies, interchangeably.
Orbital’s multi-jurisdictional licensing framework, combined with compliance with international security standards including SOC 2 Type 2, ISO 27001:2022, CSA TPC, and Cyber Essentials Plus, enables the platform to seamlessly unify both stablecoin and traditional currency payments on a global scale.
Important: This communication is for informational purposes only and does not constitute financial or investment advice. It is intended exclusively for eligible corporate clients outside the UK and high net worth companies. Cryptocurrencies are highly volatile and carry significant risks, including potential total loss. Past performance is not a guarantee of future results. Seek independent professional advice before investing. Crypto-asset products and services mentioned here are not authorised or regulated by the UK FCA. These investments may lack the protections of FCA-regulated products.
About The Open Network (TON)
The Open Network (TON) is a global, decentralized blockchain community focused on putting crypto in every pocket. By building the Web3 ecosystem in Telegram Messenger, TON’s vision is to empower 500 million users to own their digital identity, data, and assets by 2028. Learn more at https://ton.org/
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- Financing led by existing investors Fountain Healthcare Partners and Panakès Partners;
- Neuromod will use funds to accelerate commercialisation in the USA and Europe.
DUBLIN, March 11, 2025 /PRNewswire/ — Neuromod Devices Ltd. (Neuromod), an Irish medical device company specialising in tinnitus, has successfully closed a €10 million equity financing to expand the availability of its tinnitus treatment device, Lenire.
Oversubscribed Financing to Drive Commercialisation
Neuromod has raised €10 million of equity in an expansion of its Series B fundraisings. The financing was oversubscribed and was led by existing investors Fountain Healthcare Partners and Panakès Partners, backing Neuromod’s mission to advance tinnitus care for patients globally.
Neuromod has been making Lenire available through audiology and ENT practices throughout the USA and Europe. Proceeds from the financing will be used to meet demand for Lenire through sustainable commercial expansion in the USA and Europe and expand on existing opportunities in the US Department of Veteran Affairs (USVA).
Following FDA approval in March 2023, more than 100 clinics throughout the USA now treat tinnitus patients with Lenire. Availability of Lenire has also expanded in Europe with clinics in 14 countries now using the device. In the last 6 months, the number of clinics in the UK trained to use Lenire has doubled, and it is available to patients in Sweden for the first time.
In June 2024, Neuromod was awarded a Federal Supply Schedule 65 II Medical Equipment and Supply Contract from the US Government, making Lenire a treatment option for the 2.9 million US Veterans living with tinnitusv through the USVA. 35 USVA facilities have been trained to provide treatment with Lenire with more scheduled for training in 2025.
Real-World Evidence – Substantial Momentum
Positive results for tinnitus patients treated with Lenire in real-world settings at independent USA-based clinics have been compiled with a base of over 1,500 patients that continues to grow. In what will be the first of a series of planned real-world evidence publications, results from Alaska Hearing & Tinnitus Center showed that 91.5% of 220 patients reported clinically significant improvement in their tinnitusvi. This data is consistent with, and in many instances outperforms, data from Lenire’s large-scale clinical trials.
These results followed the publication of Lenire’s pivotal controlled clinical trial results, which led to US FDA approval and featured as the cover-story in peer-reviewed journal, Nature Communicationsiv. This article is in the 99th percentile of more than 250,000 tracked Nature articles.
Comments
Commenting on the news, Dr. Ross O’Neill PhD, Founder & CEO of Neuromod, said, “We are delighted to announce an oversubscribed financing at a pivotal time when we are driving forward with our mission of making Neuromod the category creator for tinnitus globally.”
“Tinnitus is the largest unmet need in hearing healthcare globally and is the number one service-connected disability among US veterans and military personnel. I am proud of the progress Neuromod is making to deliver our market-surpassing treatment to as many tinnitus patients as possible while enabling care providers’ expertise to be commercially rewarded. I am also grateful for the continued support of our investors who share our vision of advancing tinnitus care globally,” Dr. O’Neill continued.
Dr. Manus Rogan, Chairman of Neuromod and Managing Partner of Fountain Healthcare Partners, commented, “Recent results from tinnitus patients using Lenire in the real-world show that it represents a new standard of care for tinnitus. The successful closing of this financing ensures more patients will get access to this standard of care as quickly as possible.”
Alessio Beverina, Managing Partner of Panakès Partners, said, “Panakès is pleased with the progress of Neuromod since our investment, with significant clinical trial, FDA approval, real-world evidence, and commercial success in both Europe and the USA; and it is proud to continue supporting Neuromod’s work to bring a new standard of care to a historically underserved patient population.”
Emily E. McMahan, Owner of Alaska Hearing and Tinnitus Center and author of the clinic’s Real World Evidence Paper, said, “Impressive clinical trial results for Lenire led me to early adoption of the landmark tinnitus treatment technology.”
“In my clinic, and my colleagues’ clinics, we are seeing results that are superior to clinical trial results,” Dr. McMahan continued.
About Neuromod Devices Ltd
Founded in 2010, Neuromod Devices Ltd. is a medical technology company headquartered in Dublin, Ireland. Neuromod specialises in the design, development, and commercialisation of neuromodulation technologies to address the clinical needs of underserved patient populations who live with chronic and debilitating conditions. The lead application of Neuromod’s technology is in the field of tinnitus, where Neuromod has completed extensive clinical trials to confirm the efficacy of its non-invasive neuromodulation platform in this common disorder. For more information visit www.neuromoddevices.com.
About Tinnitus
Tinnitus, commonly known as ‘ringing in the ears’, is a complex neurological condition that causes a perception of sound when there is no external source. Tinnitus affects an estimated 15% of the global adult populationi.
The management of tinnitus poses significant burden on healthcare systems. A 2021 study estimated the socioeconomic costs of tinnitus in Germany at €21.9 billion per annumvii. In the USA it’s estimated the Veterans Benefits Administration paid out approximately $5.8 billion through its Veterans Compensation benefits program for tinnitus in 2023v. The American Tinnitus Association, the leading advocacy body in the USA for people living with the condition, has recently revised its estimate that 50 million Americans live with tinnitus upward to 70 millionviii.
About Lenire
Lenire is the first non-invasive bimodal neuromodulation tinnitus treatment device shown to soothe and relieve tinnitus in a large-scale clinical trial. Lenire works by delivering mild electrical pulses to the tongue, through an intra-oral component called the ‘Tonguetip®’, combined with auditory stimulation through headphones. This combination drives changes in the brain to treat tinnitus. To date, the device has been used in large-scale clinical trials with over 700 patientsii,iii,iv.
Lenire has CE-mark certification for the treatment of tinnitus under the supervision of an appropriately qualified healthcare professional in Europe and has received a De Novo grant of approval by the US FDA. Further details about Lenire including a list of providers can be found at www.lenire.com.
Connect with Neuromod Devices Ltd
LinkedIn: linkedin.com/neuromod
X: x.com/NeuromodDevices
Facebook: facebook.com/neuromoddevices/
Website: www.neuromoddevices.com
References & Notes
(i) Baguely et al., Tinnitus, The Lancet (2013), sciencedirect.com/science/article/pii/S0140673613601427
(ii) Conlon et al., Sci. Transl. Med. 12, eabb2830 (2020)
(iii) Conlon et al., Different bimodal neuromodulation settings reduce tinnitus symptoms in a large randomized trial, Sci Rep, doi.org/10.1038/s41598-022-13875-x (2022)
(iv) Boedts M, B. A., Khoo G, et al. Combining sound with tongue stimulation for the treatment of tinnitus: a controlled pivotal trial. Nature communications (2024)
(v) US VA Benefits Report Fiscal Year 2023: https://www.benefits.va.gov/REPORTS/abr/
(vi) McMahan, E.E. and Lim, H.H., 2024. Effectiveness of bimodal neuromodulation for tinnitus treatment in a real-world clinical setting in United States: A retrospective chart review. medRxiv., pp.2024-08; doi: https://doi.org/10.1101/2024.08.22.24312175 [preprint]
(vii) Tziridis K, Friedrich J, Brüeggemann P, Mazurek B, Schulze H. Estimation of Tinnitus-Related Socioeconomic Costs in Germany. Int J Environ Res Public Health. 2022 Aug 22;19(16):10455. doi: 10.3390/ijerph191610455. PMID: 36012089; PMCID: PMC9407899
(viii) https://www.linkedin.com/posts/patrickalynch_tinnitus-activity-7270503831304654848-VbWN/
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Aritz Reyes has joined Seedtag as Global Senior Vice President of Operations, overseeing the company’s operations globally across 16 markets.
MADRID, March 11, 2025 /PRNewswire/ — Seedtag, the global leader in contextual advertising, has appointed Aritz Reyes as Global SVP of Operations. In this role, Aritz will oversee the company’s operational transformation to support its rapid growth and further enhance its international footprint across 16 markets. Based in Madrid, his primary focus will be optimizing operations to ensure Seedtag’s global scalability and the long-term success of its business model.
With over 18 years of experience in digital advertising, Aritz has held various executive positions on both the demand and supply sides at major multinational companies. His past leadership roles include Managing Director at Xaxis (GroupM), Head of Operations at Havas, and Managing Director at Kinesso (IPG). He specializes in platform-based digital buying and has extensive expertise in programmatic advertising, having contributed to its growth from its early development. His technical, operational, and business acumen will be crucial in ensuring high-quality execution to meet advertisers’ business objectives.
“It is an honor to join Seedtag, a Spanish company with a strong global presence. I’m excited to bring my experience to optimize our operations and continue delivering value across all our markets,” said Aritz Reyes.
Jorge Poyatos, Co-CEO and Co-Founder of Seedtag, added: “Aritz’s arrival will accelerate the strategic use of technology to drive efficiencies and streamline processes. The operations team will play a key role in supporting the growth we anticipate in the coming years, ensuring that customer satisfaction remains Seedtag’s top strategic priority.”
About Seedtag
Seedtag, the global contextual advertising company, specializes in privacy-first advertising throughout the open web and CTV, powered by its contextual AI, Liz. Seedtag enables brands and agencies to discover the most relevant audience interests using a sophisticated contextual graph fueled by contextual data from +10,000 premium publishers. This capability ensures advertisers reach their audience at the right moment, with the right message. Utilizing the power of context to achieve advertisers’ aims across the customer journey, Seedtag creates innovative advertising solutions for everyone.
Founded in 2014, Seedtag has its headquarters in New York City and Madrid, with a global team of +600 people and offices in EMEA, LATAM, North America, and APAC.
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