Billion Dollar Intelligent Drone Market Is Booming as Adoption Increases for Wide-Range of Industries

- FinancialNewsMedia.com News Commentary - 

PALM BEACH, Fla., Sept. 27, 2023 /PRNewswire/ -- The intelligent drone market is expected to grow rapidly in the coming years, driven by the increasing adoption of drones in a wide range of industries, including commercial, consumer, and government. Intelligence is a key driver of growth in this market, as it enables drones to perform more complex tasks and operate in more challenging environments. A report from PRAGMA Market Research projected that the Intelligent Drone Market which was valued at USD 19.89 billion in 2022 and is expected to reach USD 57.16 billion by 2030, growing at a compound annual growth rate (CAGR) of 13% during the forecast period.  The report said: "The intelligent drone market is being driven by a number of factors, including: Increasing adoption of drones in commercial and government applications: Drones are increasingly being used in a variety of commercial and government applications, such as aerial photography and videography, surveying and mapping, inspection, and delivery. Intelligent drones are particularly well-suited for these applications, as they can perform tasks more efficiently and accurately than traditional methods.  Development of new and innovative drone technologies: Drone manufacturers are constantly developing new and innovative technologies, such as improved autopilot systems, obstacle avoidance systems, and sensors. These technological advancements are making drones more capable and easier to use, which is driving demand for intelligent drones.  Active companies in the markets this week include: Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO), Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), AeroVironment (NASDAQ: AVAV), Boeing (NYSE: BA), Ambarella, Inc. (NASDAQ: AMBA).

The report continued: Growing acceptance of drones by the general public: As drones become more common and affordable, the general public is becoming more accepting of these technologies. This is leading to increased demand for intelligent drones for recreational and hobbyist purposes.  The intelligent drone market offers a number of opportunities for growth, including:  Expansion into new markets: Drones are being used in an increasing number of industries, and there is still significant potential for growth in new markets, such as agriculture, construction, and mining.  Growing demand for consumer drones: Consumer drones are becoming increasingly popular, and there is significant potential for growth in this market. Intelligent drones are particularly well-suited for consumer applications, as they are easy to use and can perform a variety of tasks, such as aerial photography and videography."

Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) BREAKING NEWS:  Draganfly Officially Launches its New Manufacturing and Production Facility in Saskatoon - The Saskatoon facility will enhance manufacturing, assembly, R&D, and integration processes to improve efficiency and innovation while meeting the increasing demand for Draganfly's UAV systems and components -  Draganfly Inc. (FSE: 3U8) ("Draganfly" or the "Company"), an award-winning, industry-leading drone solutions, and systems developer, is pleased to announce its new manufacturing and production facility in Saskatoon has officially opened and extend our gratitude to all our distinguished guests who celebrated this milestone with us.

The Company is deeply honored that guests, including industry leaders, local officials, and valued partners, joined the ribbon-cutting ceremony to mark the official launch of this state-of-the-art manufacturing and production facility.

The Saskatoon facility promises to enhance manufacturing capabilities, streamline assembly processes, support R&D capabilities, and optimize integration procedures to establish a fresh approach to efficiency and innovation. This facility will focus on meeting the rising demand for Draganfly's UAV systems and components, such as the Heavy Lift, Commander 3 XL, Commander XL Hybrid, and its new Precision Delivery System.

"Inaugurating the Saskatoon facility marks a pivotal moment for Draganfly as we embark on a journey of elevated manufacturing standards. This facility is not just a promise but a testament to our unwavering commitment to meet the demand for our UAV systems and components," said Cameron Chell, Draganfly CEO.   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:

Hypersonix Launch Systems Ltd. and Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) recently announced an Exclusive Teaming Agreement to provide the Hypersonix DART AE Hypersonic System within the U.S. market, integrated with Kratos' Zeus family of solid rocket motors. The DART AE is a three-meter-long, single-use, high temperature alloy, hydrogen-fueled, scramjet technology driven, autonomous, multi-mission, air-breathing hypersonic platform used to develop, demonstrate, test and evaluate hypersonic technologies and for "other" potential hypersonic applications. With Kratos' Zeus and "other" rocket propulsion systems, Kratos and Hypersonix aim to frequently and reliably deliver an affordable, high cadence, high availability, overall hypersonic capable system and vehicle, to the hypersonic customer community.

AeroVironment (NASDAQ: AVAV) has recently completed its acquisition of Tomahawk Robotics, a leader in AI-enabled robotic control and integrated communications systems. AeroVironment signed a definitive agreement to purchase Tomahawk Robotics in August for a total purchase price of $120 million to be paid in a mix of cash and stock.

"Now that the acquisition is finalized, we're able to further integrate both companies' technologies and accelerate our implementation of AI and autonomy into AeroVironment's platforms, enabling us to offer the best solutions for our customers' operational needs," said Wahid Nawabi, AeroVironment's Chairman, President and CEO.

Boeing [NYSE: BA] has recently forecasted that China will need 8,560 new commercial airplanes through 2042, driven by economic growth well above the global average and increasing demand for domestic air travel. China's commercial airliner fleet will more than double to nearly 9,600 jets over the next 20 years, according to Boeing's Commercial Market Outlook (CMO), the company's long-term forecast of demand for commercial airplanes and related services.

With its ongoing recovery of air travel, China will account for one-fifth of the world's airplane deliveries in the next two decades, according to the CMO. China's domestic aviation market also will be the largest in the world by the end of the forecast period, helping power demand for 6,470 single-aisle airplanes such as the Boeing 737 MAX family.

Ambarella, Inc. (NASDAQ: AMBA), an edge AI semiconductor company, recently announced financial results for its second quarter of fiscal year 2024 ended July 31, 2023.  Revenue for the second quarter of fiscal 2024 was $62.1 million, down 23% from $80.9 million in the same period in fiscal 2023. For the six months ended July 31, 2023, revenue was $124.3 million, down 27% from $171.2 million for the six months ended July 31, 2022.

Gross margin under U.S. generally accepted accounting principles (GAAP) for the second quarter of fiscal 2024 was 61.9%, compared with 63.1% for the same period in fiscal 2023. For the six months ended July 31, 2023, GAAP gross margin was 61.1%, compared with 62.9% for the six months ended July 31, 2022.  GAAP net loss for the second quarter of fiscal 2024 was $31.2 million, or loss per diluted ordinary share of $0.79, compared with GAAP net loss of $23.7 million, or loss per diluted ordinary share of $0.62, for the same period in fiscal 2023. GAAP net loss for the six months ended July 31, 2023 was $67.1 million, or loss per diluted ordinary share of $1.70. This compares with GAAP net loss of $34.5 million, or loss per diluted ordinary share of $0.91, for the six months ended July 31, 2022.

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