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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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