Growing Demand for UAV's & Drones Surge for National Security Applications

Financialnewsmedia.com News Commentary

PALM BEACH, Fla., Nov. 10, 2020 /PRNewswire/ -- The numbers of countries, states, military and commercial uses of drones has been growing rapidly globally, and is projected to continue to rise over the next several years to come. Projections in 2018 said that the drone analytics market was valued at USD 1.17 Billion in 2016 and is projected to reach USD 5.41 Billion by 2022, at a CAGR of 28.11% from 2017 to 2022. A subsequent report predicted a rise saying Global Drone Analytics Market is expected to rise from its initial estimated value of USD 2.05 billion in 2018 to an estimated value of USD 15.04 billion by 2026, registering a CAGR of 28.25% in the forecast period of 2019-2026… signifying that the rising usage of drone in various applications is the major factor for the growth of this market. A most recent report, by ResearchAndMarkets, has again increased its expectations saying that the factors such as  being utilized for capturing and processing data, including images, maps, and 3D models, such solutions help in converting the information to actionable insights, with the use of machine learning (ML) and data analytics, thus providing quick decision-making capability to organizations, influenced their prediction to drive the global drone analytics market, which generated revenue of $2,614.3 million in 2019, at a 29.8% CAGR between 2020 and 2030.  Active tech companies in the markets this week include FLIR Systems, Inc. (NASDAQ: FLIR), Plymouth Rock Technologies Inc. (OTCQB: PLRTF) (CSE: PRT), The Boeing Company [NYSE: BA], Palantir Technologies Inc. (NYSE:PLTR), Ambarella, Inc. (NASDAQ: AMBA).

Drones and advanced UAV technology have redefined and enhanced the productivity of numerous industries within a short period. Drones have been deployed for security monitoring, safety inspections, asset monitoring and surveillance, storm tracking, logistics, and to broadly study the environment by scanning remote areas. Commercial organizations use drones for express parcel delivery, and other commercial applications such as firefighting, mining, surveying, and farming, among others, while military groups use them for threat detection and even attacking suspected terrorists. The next generation of drones is envisioned to be powered by artificial intelligence. Aerial AI is capturing loads of data on a real-time basis, opening a new world for analyzing real time data. The introduction of AI in drones is envisioned to have a profound positive effect on the current capabilities of a drone, and would severely augment the potential applications of the drones across all markets.