PALM BEACH, Fla., Nov. 10, 2020
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.
Plymouth Rock Technologies Inc. (CSE: PRT) (OTCQB: PLRTF) BREAKING NEWS: PLYMOUTH ROCK TECHNOLOGIES TO COLLABORATE WITH MIDDLE EAST TECHNOLOGY LEADER STA QATAR - Plymouth Rock Technologies ("Plymouth Rock", "PRT", or the "Company"), a leader in the development of cutting-edge threat detection technologies, is pleased to announce that the Company has agreed to collaborate on the strategic market placement of products and services with Qatar based STA QSTP LLC ("STA") focusing on state security utilizing UAVs, sensors, and detectors from Plymouth Rock Technologies. Qatari national security includes border, public events, and natural resource monitoring.
STA provides mission-critical aerial solutions and intelligence with extensive expertise and understanding in drone technology development, analytics, industrial inspections, fire-fighting, as well as search and rescue. Centrally located in the city of Doha, STA brings Qatari leadership that combines 27 years of experience gained at NASA and Silicon Valley. STA has attracted exceptional local talent from leading universities including Carnegie Mellon and Texas A&M.
"Our interest in PRT was based upon their ability to deliver combined intelligent sensors outputs from the air and still maintain class leading, all-weather flight performance characteristics. The combination of PRT detectors on the ground with those in the air further enhances situational and threat awareness," stated Dr. Khalid Al-Ali, CEO and Founder of STA Qatar. "Being a 100% Qatari-owned technology company, focusing on both self-developed solutions as well as collaborations with the best-in-class companies allows us to leverage programs and commercial opportunities put forward in Qatar", concluded Dr. Al-Ali.
Qatar hosts approximately 10,000 U.S. service personnel. In 2022, it will host the FIFA World Cup. It is estimated that the use of unmanned aerial vehicles by Qatar Ministry of Transport & Communications and state security agencies would pass $33m USD in 2021; due to COVID-19, demand could pass $40m USD. With many venues requiring physical security, PRT will be well-positioned to deploy its class-leading land-based and airborne threat detectors. Qatar has more than 350 miles of coastline; its border with Saudi Arabia is some 37 miles long – with most of its Oil and Gas resources located in Northern Qatar, one of the main security missions of UAV technologies will be to reinforce the Qatari Coast Guard in their task to secure and monitor these important resources. Qatar is also home to Hamad International Airport, one of the world's largest passenger and cargo airports, presenting a great opportunity for the use of PRT's technologies.
"The principles and associated alliance partners that form STA, are thought leaders and advocates of unmanned technologies not just in Qatar, but globally", stated Carl Cagliarini, Chief Strategy Officer of PRT. "We are proud to collaborate with STA in delivering land-based threat detectors and UAV operational awareness to assist in the mission of advancing the monitoring of Qatar's natural resource assets and national security". Read this and more news for PRT at: https://www.plyrotech.com/news/
Other recent developments in the tech industry include:
The Boeing Company [NYSE: BA] recently reported third-quarter revenue of $14 .1 billion, GAAP loss per share of ($0.79) and core loss per share (non-GAAP)* of ($1.39) , reflecting lower commercial deliveries and services volume primarily due to COVID-19 (Table 1). Boeing recorded operating cash flow of ($4.8) billion.
"The global pandemic continued to add pressure to our business this quarter, and we're aligning to this new reality by closely managing our liquidity and transforming our enterprise to be sharper, more resilient and more sustainable for the long term," said Boeing President and Chief Executive Officer Dave Calhoun . "Our diverse portfolio, including our government services, defense and space programs, continues to provide some stability for us as we adapt and rebuild for the other side of the pandemic. We remain focused on the health and safety of our employees and their communities. I'm proud of the dedication and commitment our teams have demonstrated as they continued to deliver for our customers in this challenging environment. Despite the near-term headwinds, we remain confident in our long term future and are focused on sustaining critical investments in our business and the meaningful actions we are taking to strengthen our safety culture, improve transparency and rebuild trust."
Palantir Technologies Inc. (NYSE:PLTR) recently announced that it was awarded a $36m one-year indefinite delivery, indefinite quantity (IDIQ) contract with the National Center for Advancing Translational Sciences (NCATS) for enterprise data integration and data management to support the NCATS Secure Scientific Platforms Environment.
Palantir's Foundry software will be provided in various configurations to the NCATS Secure Scientific Platforms Environment, which supports several critical health missions through the integration, management, security, and analysis of any kind of scientific data, and provides controlled access to internal and external collaborators.
Ambarella, Inc. (NASDAQ: AMBA), an AI vision silicon company, recently introduced the CV28M camera system on chip (SoC), the latest in the CVflow® family, combining advanced image processing, high-resolution video encoding, and CVflow computer vision processing in a single, low-power design. The CV28M's highly efficient artificial intelligence (AI) processing architecture provides the flexibility required to enable a new class of smart edge devices for applications including smart home security, retail monitoring, consumer robotics, and occupancy monitoring.
Ambarella today announces the CV28M CVflow® processor for artificial intelligence (AI) sensing at the edge in a new class of smart devices for a variety of applications including smart home security, retail monitoring, consumer robotics, and occupancy monitoring.
FLIR Systems, Inc. (NASDAQ: FLIR) recently announced two intelligent traffic system cameras, the FLIR TrafiSense™ AI* with thermal imaging and the FLIR TrafiCam™ AI visible camera, both with artificial intelligence (AI) to optimize traffic flow on roadways and at intersections. When combined with the FLIR Acyclica™ cloud platform, cities can apply the AI-camera data to predict traffic, prevent congestion and potential accidents, and create safer roads for drivers, cyclists, and pedestrians 24 hours a day.
Traffic engineers apply data from AI-enabled cameras, FLIR TrafiSense AI and TrafiCam AI, to predict traffic and prevent congestion and potential accidents for safer roads. "FLIR traffic systems are currently installed in 75 countries, and with the addition of TrafiSense AI and TrafiCam AI, FLIR now offers a fully integrated solution that enables traffic engineers and city planners to apply AI-based learnings to continuously optimize traffic flow," said Rickard Lindvall, General Manager, Solutions Business, FLIR Systems. "The integrated solution enables cities to improve urban roadway design to make cities safer and more livable."
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