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Home Artificial Intelligence

Growing Number of Industries Embracing Commercial Drone Operations as Demand Skyrockets

January 10, 2025
in Artificial Intelligence, GlobeNewswire, Web3
Reading Time: 14 mins read
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PALM BEACH, Fla., Jan. 10, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Numerous industry reports agree that the global drone markets will continue to thrive and exceed present revenues in the coming years. According to a report from Research and Markets, the global drones market size reached a value of USD $38.25 billion in 2023 (and USD $48.62 Billions in 2024). Aided by the increasing adoption of drones across various sectors, including agriculture, defense, logistics, and entertainment, the market is projected to further grow at a CAGR of 22.4% between 2024 and 2032 to reach a value of USD $244.95 billion by 2032. The report said: “One of the major drones market trends is the increasing use of drones in agriculture. Farmers and agribusinesses are leveraging drone technology for precision farming, monitoring crop health, and optimizing the use of water and fertilizers. By providing real-time data on crop conditions, drones are helping farmers increase productivity while reducing resource wastage, thus driving market demand in the agricultural sector. Similarly, the logistics industry is experiencing a revolution with the rise of drone deliveries. Several companies, including major retail giants and e-commerce platforms, are exploring drone technology to facilitate faster and more cost-efficient deliveries, particularly in remote or hard-to-reach areas.” Active Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), AeroVironment, Inc. (NASDAQ: AVAV), Red Cat Holdings, Inc. (NASDAQ: RCAT), EHang Holdings Limited (NASDAQ: EH), Unusual Machines, Inc. (NYSE: UMAC).

Research and Markets continued: “Additionally, the entertainment industry has embraced drones, particularly for aerial photography, videography, and filming. Drones have revolutionized the way media is produced, offering filmmakers and content creators the ability to capture unique and innovative footage. This is fueling the demand for drones in various applications such as advertising, and film production, apart from recording important events. In the defense sector, drones continue to be indispensable, especially for surveillance, reconnaissance, and combat operations. Drones are utilized by military forces around the world for intelligence gathering and conducting precision strikes, reducing the need for manned missions and improving operational efficiency. The rising geopolitical tensions and increasing defense budgets are expected to further drive the demand for military drones, which constitute a major portion of the global drones market share.”

ZenaTech Inc.’s (NASDAQ:ZENA) ZenaDrone Multipurpose AI Drone Applies for FAA Part 137 Crop Sprayer Certification for Agricultural and Wildfire Industry Use – ZenaTech, a technology company specializing in AI (Artificial Intelligence) drone solutions driven by Quantum Computing, Drones as a Service, and enterprise SaaS, announces that its subsidiary company ZenaDrone has applied for a Federal Aviation Authority (FAA) Part 137, crop sprayer “Agricultural Aircraft Operations Certification” to use its ZenaDrone 1000 drone for spraying including for agricultural applications such as spraying fertilizers, herbicides and pesticides. The dual-use of the sprayer attached can also be used for wildfires as part of the company’s plans to use drone swarms for commercial purposes.

“This certification is essential to establish our US precision agriculture operations where we plan to help agricultural producers and operators use drone solutions to improve efficiency, reduce costs, and minimize environmental impact compared to traditional methods. This builds on our prior experience testing hemp farming applications in Ireland enabling us to pilot specific solutions including targeted pest control enabling US growers to improve yields and sustainability. We also see applications for wildfire management, which is having such a devastating impact in California currently,” said CEO, Dr. Shaun Passley Ph.D.

ZenaDrone was previously granted an FAA exemption for visual line-of-sight commercial applications and data collection in October last year and has commenced aerial operations and testing at its facilities and testing site in Phoenix, Arizona.

An FAA Part 137 authorization is a certification that allows drone companies to operate unmanned aircraft systems (UAS) for agricultural-related commercial activities, such as crop dusting, seeding, or pesticide application. Drone operators must meet criteria such as demonstrating the ability to conduct safe and effective operations, having properly certificated aircraft, and meeting specific knowledge, skills, and operational standards set by the FAA. The application process including FAA operational demonstrations and inspection can take several months.

The US agricultural drone market is growing rapidly, driven by advancements in precision agriculture and the increasing need for efficiency in crop management. The market is valued at USD $2.74 billion in 2024 and is projected to experience a compound annual growth rate (CAGR) of 25% and could reach $10.45 billion by 2030 according to Grand View Research. This growth is supported by the increased adoption of drones for field mapping, crop monitoring, spraying, and livestock management applications and is benefiting from government incentives as well as technological advancements in sensors, cameras, and data integration systems​.

US government studies have estimated the cost of wildfire devastation in the US could be in the range of $394 billion and $893 billion annually. This figure accounts for direct property damage, firefighting expenses, health impacts from wildfire smoke, income loss, tourism decline, and infrastructure damage. It also includes long-term environmental impacts such as watershed pollution and post-fire land rehabilitation. These estimates represent a growing trend driven by climate change, which has intensified the severity and frequency of wildfires across the country.

ZenaDrone 1000 is an autonomous multifunction drone offering stable flight, maneuverability, heavy lift capabilities, innovative software technology, sensors, AI, and purpose-built attachments, along with compact and rugged hardware engineered for industrial use. Continued… Read this full release by visiting: https://www.financialnewsmedia.com/news-zena/

Other recent developments in the drone technology industry include:

AeroVironment, Inc. (NASDAQ: AVAV) and BlueHalo LLC (“BlueHalo”) recently announced the execution of a definitive agreement under which AV will acquire BlueHalo in an all-stock transaction with an enterprise value of approximately $4.1 billion, creating a more diversified global leader in all-domain defense technologies. The combined company will bring together complementary capabilities to offer a comprehensive portfolio of high-growth franchises, powered by cutting-edge technology and focused on addressing the most important priorities and needs of our nation and allies around the globe.

BlueHalo, an Arlington Capital Partners portfolio company, was founded as a purpose-built platform providing industry-leading capabilities in several key mission areas: Space Technologies, Counter-Uncrewed Aircraft Systems (cUAS), Directed Energy, Electronic Warfare, Cyber, Artificial Intelligence and other Emerging Technologies including Uncrewed Underwater Vehicles (UUVs). Since its founding in 2019, BlueHalo’s notable accomplishments include being the first to successfully operationally field directed energy (DE) laser weapon systems (LWS) with its LOCUST LWS, being awarded Space Force’s multi-billion dollar program to transform space operations with BADGER, its adaptive phased array product and serving as a leader in Radio Frequency Counter-Unmanned Aerial Systems (RF C-UAS), delivering its 1000th system last year with its Titan and Titan-SV systems. BlueHalo has focused on cutting-edge research and development allowing for the development of products and services to transform the future of global defense.

Red Cat Holdings, Inc. (NASDAQ: RCAT), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, recently announced it has received authorization from the Federal Aviation Administration (FAA) to operate unmanned aircraft systems (UAS) in U.S. airspace without broadcasting Remote Identification (Remote ID) information, specifically for the purpose of aeronautical research.

“This authorization highlights Red Cat’s commitment as an industry leader to work closely with the FAA on drone requirements and operations in the national airspace system,” said Jeff Thompson, Red Cat CEO. “We are proud to be among the first companies in the United States authorized to conduct research operations without broadcasting Remote ID. This will help accelerate the testing and development of safe and effective drone solutions that support warfighters globally.”

EHang Holdings Limited (NASDAQ: EH), the world’s leading Urban Air Mobility (“UAM”) technology platform company, recently announced the preliminary revenues for the fourth quarter and fiscal year ended December 31, 2024, beating the previous revenue guidance in the earnings release for the third quarter of 2024.

Total revenues for the fourth quarter 2024 are expected to reach RMB162 million, representing an increase of 20% from the guidance of RMB135 million, and a year-over-year increase of 187% from RMB56.6 million in the fourth quarter of 2023. Total revenues for the fiscal year 2024 are expected to reach RMB454 million, representing an increase of 6% from the guidance of RMB427 million, and a year-over-year increase of 287% from RMB117.4 million in 2023. The upward performance reflects stronger-than-expected market demand for EHang’s flagship EH216-S pilotless passenger-carrying aerial vehicles, key operational milestones, and growing momentum in the Company’s business.

Unusual Machines, Inc. (NYSE American: UMAC) recently released a letter to its shareholders: Dear Shareholders, I hope this letter finds you well this holiday season. While this communication is unusual for this time of year, I feel it’s important to address a matter that has been brought to my attention. Short sellers are likely planning to create a negative news cycle targeting Unusual Machines, taking advantage of the holidays to manipulate our share price for personal financial gain. While unfortunate, these predatory tactics are something that comes with our growing profile and the increasing significance of what we’re building. I want to provide you with the facts about our progress and position, enabling you to make investment decisions for yourselves, free from the noise of misinformation.

Let me be clear: this company’s mission and integrity are unshakeable, and we are well-positioned to keep executing on our vision. We hold ourselves to high standards of transparency and accountability, even when it requires difficult decisions. For example:

Proactive Auditor Changes: Leading up to our IPO, we identified concerns with our auditing firm. While we were unable to change firm prior to the IPO, we highlighted it as a risk factor in our S-1 filing (S-1). Then, immediately following the IPO, we transitioned to a more diligent firm (8-K). Notably, the firm we left was later deemed unsuitable for hundreds of other companies. This proactive decision is an example our commitment to accountability to our shareholders.

About FN Media Group:

At FN Media Group, via our top-rated online news portal at http://www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #tickertagpressreleases #pressreleases

Follow us on Facebook to receive the latest news updates: https://www.facebook.com/financialnewsmedia

Follow us on Twitter for real time Market News: https://twitter.com/FNMgroup

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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 has been compensated fifty four hundred dollars for news coverage of the current press releases issued by ZenaTech, Inc. by the Company. 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.

Contact Information:
Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757

SOURCE: FN Media Group

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