Remotely Operated UAVs Projected To Capture Majority Of The Global UAV Market Revenue Share Through 2030
PALM BEACH, Fla., Oct. 14, 2021 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - Unmanned Aerial Vehicles (UAVs) are an important component of Unmanned Aerial System (UAS) that are also commonly known as drones. These UAVs are consisting of on-board computers that control their flight and other necessary operations. Drones were previously developed for military operation to handle life-risky missions, whereas have penetrated to various fields. However, military UAVs have also gone through several developments for long-range operations. Further, the integration of artificial intelligence and machine learning in UAVs is one of the most prominent factors that propel the market growth of UAVs over the upcoming years. The Superior capability of UAVs for analyzing millions of images that enables secure, safe, and more accurate data that further helps in enhancing the decision-making capability across various industrial applications. Presently, companies rely more on the accurate information analysis and data collection using various software that helps enhancing the business output and operation. Enhancement in the hardware and as well as components of UAVs are likely to help customers to generate real-time images and maps because of integration of advanced cameras, fast microprocessors, and modern computing technologies. Active stocks in the markets this week include Plymouth Rock Technologies Inc. (OTCQB: PLRTF) (CSE: PRT), AeroVironment, Inc . (NASDAQ: AVAV), The Boeing Company (NYSE: BA), Lockheed Martin (NYSE: LMT), AgEagle Aerial Systems, Inc. (NYSE American: UAVS).
A recent report from Precedence Research projected that the Unmanned Aerial Vehicle (UAV) Market size is expected to surpass around US$ 36 billion by 2030 and is anticipated to grow at a CAGR of 14% from 2021 and 2030… it was valued at USD 14.3 billion in 2020. The report said that "based on technology, remotely operated UAVs capture the majority of the global UAV market revenue share in the year 2020 and likely to pertain its hold during the analysis time frame. This is majorly attributed to wide range of UAV products operated by remote sensing technology. The remote sensing technology has larger applications across various commercial sectors to gather crucial set of information such as forest monitoring, agriculture, and aerial mapping and to long-range security and environmental operations in remote locations."
Plymouth Rock Technologies Inc. (CSE: PRT.CNQ) (OTCQB: PLRTF) BREAKING NEWS : PLYMOUTH ROCK TECHNOLOGIES ANNOUNCES FOLLOW-UP ORDER FOR OIL AND GAS PIPELINE MONITORING AND ENVIRONMENTAL OPERATIONS - Plymouth Rock Technologies ("Plymouth Rock", "PRT", or the "Company"), a leader in developing detection apparatus and unmanned technologies, is pleased to announce that Aardvark LLP ("Aardvark") have issued a purchase order for a PRT XV-L Fixed-wing Vertical Take-off and Landing (VTOL) Unmanned Aircraft System (UAS) to perform long-range security and environmental operations in remote locations.
"This latest order for our new XV-L system takes our revenue to Aardvark close to a quarter of a million USD for 2021 and further cements them as a significant client" stated Carl Cagliarini, Chief Strategy Officer at PRT. "Our XV-L UAS delivers up to 55lb payload capacity and up to 7 hours flight time with both satcom and military-grade radio communications. These capabilities make the XV-L a versatile platform, able to address other major applications, such as the ability to transport significant payloads over land, ships, oil rigs, offshore platforms and other remote locations," concluded Cagliarini.
"After the clear capability and advantages of the X1-H UAS delivered into our operation earlier this year, we have now ordered a new platform that can deliver greater distance and enhanced capabilities in adverse weather conditions" stated Paul Reynolds of Aardvark LLP. "This initial XV-L delivery to us in Kazakhstan will enable long range autonomous missions of thousands of square kilometers, day or night, enforcing our leading position in UAV operations in Kazakhstan " concluded Reynolds.
The Company also announces today that it has begun a digital and marketing awareness campaign with Capital Analytica of Vancouver BC , Media Relations Inc of Burnsville MN and Think Inc Marketing of Huntington Beach CA. The campaign includes press initiatives, advertising, publicity services and social media. These marketing and awareness programs include engagements with arm's length parties for an aggregate gross expenditure of CDN$120,000 over a 6 month period and US $100,000 over a 3 month period. No stock based compensation has been provided. CONTINUED… Read this and more news for PRT at: https://www.plyrotech.com/news/
Other recent developments in the tech industry include:
AeroVironment, Inc . (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, recently announced that its wholly owned subsidiary, Telerob Gesellschaft für Fernhantierungstechnik mbH (Telerob), received a multi-million dollar firm-fixed-price order from the Latvian Ministry of Defense (MoD). The order, received on July 8, 2021 , encompasses the procurement of telemax, EVO HYBRID and tEODor EVO unmanned ground vehicles (UGVs) and engineering support to the Latvian National Armed Forces. Delivery is scheduled to be completed in late 2021.
"Every year, Latvian Explosive Ordnance Disposal forces neutralize ammunitions of various caliber rifles, artillery shells, minesweepers, aviation bombs and other explosive objects by the thousands," said Brian Young , AeroVironment vice president and product line general manager of unmanned ground vehicles.
The Boeing Company (NYSE: BA) recently announced major program deliveries across its commercial and defense operations for the third quarter of 2021.
"We made important progress driving stability throughout our operations in the third quarter, as we prioritized safety and quality and worked to deliver for our customers," the company said. "Our defense and services teams delivered across several key programs. In our commercial business, we increased 737 MAX deliveries in the quarter, and progressed in safely returning the 737 MAX to service in more international markets.
Lockheed Martin (NYSE: LMT) is breaking barriers in hypersonic technology, adding to its world-class portfolio another milestone with the recent grand opening of an advanced production facility in Courtland, Alabama , focused on hypersonic strike production. Capitalizing on critical digital factory capabilities to deliver this technology, the corporation is working closely with the U.S. Department of Defense (DOD) to deliver new 21st-century warfare capabilities.
"Lockheed Martin has manufactured defense systems in Courtland since 1994, providing increasingly sophisticated capabilities to protect our nation, allies, and security partners," said Sarah Hiza, vice president and general manager of Strategic and Missile Defense Systems at Lockheed Martin Space. "Our long-time partnerships with Alabama, the Department of Defense, and academic researchers have paved the way to develop the most advanced hypersonic strike capabilities using the best-of-the-best digital technologies from across our enterprise."
AgEagle Aerial Systems, Inc. (NYSE American: UAVS), an industry-leading provider of drones, sensors and software, recently announced that its wholly-owned subsidiary, MicaSense, Inc. ("MicaSense"), plans to expand its line of sensor solutions with the launch of its next generation of high performance multispectral sensors, providing the best economics, highest resolution and most extensive data analysis capabilities of any multispectral drone sensors offered in the market today.
Brandon Torres Declet , Chief Executive Officer of AgEagle, stated, "Through its unrelenting commitment to innovation and excellence, MicaSense has earned its reputation as a global leader in the delivery of best-in-class drone sensor solutions designed for optimal spectral and spatial resolution for the precision agriculture industry. With the upcoming commercial launch of its line of next generation multispectral drone sensor technologies, alongside exciting new RTK (Real-Time Kinemetic) capabilities, we expect that MicaSense will establish entirely new performance standards for data quality, accuracy, repeatability and analytical insight for uses in agriculture, hydrological modeling, forest mapping, surveying, land use, vegetation tracking, species inventory management and biodiversity conservation, among others."
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