PALM BEACH, Florida, March 17, 2020
Financialnewsmedia.com News Commentary
PALM BEACH, Florida, March 17, 2020 /PRNewswire/ -- Most people think surveillance or military uses when they hear the term "drone." Data shows that the future of drones in America is being shaped by the recent U.S. government banning of Chinese-made drones due to spying fears, opening up a large opportunity for North American manufacturers. In addition, the future of the drone market growth will also be in commercial uses. Reports from industry insiders are projecting the rise of revenues in drone markets will be spread over many industries that are not typically associated with the technology. Active companies in the markets this week include Draganfly, Inc. (CSE: DFLY) (OTCQB: DFLYF), AeroVironment, Inc. (NASDAQ: AVAV), Drone Delivery Canada (TSX-V: FLT) (OTCQX: TAKOF), Northrop Grumman (NYSE: NOC) and Ambarella (NASDAQ: AMBA).
The usage of drones in business operations has broadened in different industries in the last few years due to their ability to drive efficiency and data analytics. VCs have invested a total of $1.5 billion since 2012 in drone commercial startups that are shaping the industry. Unlike most fintech developments such as big data and payment innovation, drones are valuable for their combination of mobile hardware and internet connectedness. Drones are distributed sensors that make the internet smarter. They can serve as a platform on which different applications, software, and business models can be built. Indeed, everything from drone mapping to flight planning software, and increased demand for drone pilots has emerged."
A recent report stated that the commercial market—not consumer or military—will be a key driver moving forward. "In many business activities, drones can substitute traditional methods of operation. This development comes after the Federal Aviation Administration expended permissions for commercial, non-hobbyist usage of drones. With less human operation and no safety infrastructure, drones can reduce time and costs. They can also enhance data analytics, which allow companies to better comprehend and predict operating performance. In some industries, drones will even enable new business models and opportunities. PCW estimates that commercial applications have a total addressable market of $127 billion globally. Drones are expected to become part of daily operations across industries as varied as insurance, agriculture, and journalism. Consulting firm BCG estimates the industrial drone fleet in Europe and the US will be $50 billion by 2050 and more than 1 million units, with most of the value linked to drone services and data collection."
Draganfly, Inc. (CSE: DFLY) (OTCQB: DFLYF) BREAKING NEWS: AeroVironment and Draganfly Announce Teaming Agreement for Distribution of Quantix Mapper to Commercial Markets - AeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems (UAS), and Draganfly (CSE: DFLY) (OTCQB: DFLYF) (FSE: 3U8), an award-winning, industry-leading manufacturer within the commercial unmanned aerial systems ("UAS"), remotely piloted aircraft systems ("RPAS"), and unmanned vehicle sectors, today announced a teaming agreement for Draganfly's distribution of AeroVironment's Quantix Mapper systems to commercial markets worldwide. The agreement also includes the continuation of other contract engineering services provided by Draganfly to AeroVironment.
Under the teaming agreement, AeroVironment will provide Draganfly sales, marketing collateral, and product technical support for the Quantix Mapper system. Draganfly will provide e-commerce, enterprise and direct sales operations, and oversee development of a network of resellers and strategic distribution partners worldwide.
In advance of the approaching agriculture season in the Northern Hemisphere, Draganfly has procured a significant number of Quantix Mapper systems from AeroVironment. Draganfly plans to expand commercial distribution of Quantix Mapper to the Southern Hemisphere over the next year, and to other industries including environmental resource management, oil & gas, construction, insurance, and public safety.
"Quantix Mapper represents the combination of drone operation, high-resolution imaging and geo-tagging into the first 'drone as an app' solution that makes data collection as easy as using a tablet computer," said Rick Pedigo, AeroVironment vice president of sales and business development. "As a leader in the commercial and first responder drone market, Draganfly is uniquely positioned to deliver the value of Quantix Mapper to customers in multiple market segments to help save lives, protect property, increase productivity and enhance safety."
"Draganfly has been manufacturing and distributing innovative, multi-rotor and fixed wing drones for commercial applications around the world for 22 years. We were truly impressed with the ease of use, performance, and reliability of AeroVironment's hybrid Quantix Mapper system" said Patrick Imbasciani, Draganfly's chief operating officer. "Flying 400 acres in less than 45 minutes on one battery is remarkable. Programming flights by simply drawing a shape on a tablet screen map, selecting an altitude, and following a few prompts, is so easy. Built in visual and multispectral sensors and the ability to take off and land almost anywhere, allow this drone to be used for a variety of applications right out of the box. Equally exciting, is the competitive price."
Quantix Mapper is a simple to use drone empowering users through its fully-automated operation and instant insight. Its hybrid design allows the aircraft to launch vertically and transition to horizontal flight, maximizing aerodynamic efficiency and range. Users can immediately view high resolution imagery on the included Operating Tablet – no other devices, internet or additional software required. With the touch of a button, users can quickly and safely generate up-to-date maps for infield assessment. Whether assessing crop health during key stages, or damage from storm, flood or fire, Quantix Mapper makes it easy to gather accurate images across a large area, assess and react to the situation with precision and speed. Read this full press release and more Draganfly news here: https://www.financialnewsmedia.com/news-dfly/
Other recent developments in the markets this week include:
zeroVironment, Inc. (NASDAQ: AVAV) a global leader in unmanned aircraft systems (UAS), recently announced it received a $8,584,734 firm-fixed-price U.S. Department of Defense Foreign Military Sales contract. The contract was awarded on December 17, 2019 to provide Puma 3TM AE unmanned aircraft systems, training and support to an allied nation. Delivery is anticipated by June 2020.
"Customers in the United States and around the world deploy AeroVironment's rugged family of tactical unmanned aircraft systems, including Puma, to provide their forces the actionable intelligence they need to proceed with certainty in a broad range of operating environments," said Rick Pedigo, vice president of sales and business development for AeroVironment. "We designed our combat-proven unmanned aircraft systems to be easy to use, reliable and to provide the operational flexibility frontline forces need to succeed in the most demanding conditions."
Drone Delivery Canada Corp. (OTCQX: TAKOF) (TSX-V: FLT) recently announced that implementation of the DSV Air & Sea Inc. Canada ("DSV") project is well underway and is expected to be operational March 2020 . On October 23, 2019 DDC announced that it had entered into a commercial agreement with DSV (the "Agreement"), through its sales agent Air Canada (AC.TO), to provide its drone delivery platform for the use of DSV commencing at DSV's head office in Milton, Ontario . Infrastructure equipment (including DroneSpotTM depots, Battery Management Systems, and Sparrow drones) is currently being installed and numerous successful test flights have already been conducted. The Company expects to begin full operational and revenue-generating flights pursuant to the terms of the Agreement in March 2020 .
After the initial on-premises route is operational, the Company expects multiple subsequent inbound/outbound routes for DSV's customers with time-sensitive cargo. "This will be a major milestone for the Company - our first operational, commercialized customer and first revenue. DSV is a global leader in the logistics industry and a perfect fit as a long-term, scalable customer for us," said Michael Zahra , President & CEO of DDC. "DDC continues to lead the drone logistics industry and we have a very strong funnel of global opportunities and expect to see continued customer announcements in 2020 for deployment & revenue generation this year."
Northrop Grumman Corporation (NYSE: NOC) The U.S. Army recently awarded LONGBOW Limited Liability Company (LBL), a joint venture of Lockheed Martin (NYSE: LMT) and Northrop Grumman Corporation (NYSE: NOC), a five-year sustainment quantity (IDIQ) contract for up to $235.8 million to provide post production support services for the AH-64 Apache helicopter AN/APG-78 LONGBOW Fire Control Radar (FCR) to international customers.
The IDIQ contract value is estimated over five years and now provides tailorable services as individual orders for foreign military sales customers. Post-production sustainment services include program and logistics management, repair of system modules as required, replenishment of depot parts, field engineering support, and operator and maintainer training for AH-64D and AH-64E configurations.
Ambarella, Inc. (NASDAQ: AMBA) an AI vision silicon company, recently announced financial results for its fourth quarter of fiscal year 2020 ending January 31, 2020.
>> Revenue for the fourth quarter of fiscal 2020 was $57.2 million, up 12% from $51.1 million in the same period in fiscal 2019. For the fiscal year ending January 31, 2020, revenue was $228.7 million, up 0.4% from $227.8 million for fiscal year ending January 31, 2019.
>> Total cash, cash equivalents and marketable securities on hand at the end of the fourth quarter of fiscal 2020 was $404.7 million, compared with $358.9 million at the end of the same quarter a year ago.
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 forty six hundred dollars for news coverage of the press release issued by Draganfly, Inc. by a non-affiliated third party. 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.