Investing in the Future: Drone Data Services Market Projected to Surpass $15 Billion by 2030

News provided by

Dec 01, 2023, 09:00 ET

FN Media Group Presents USA News Group News Commentary

VANCOUVER, BC, Dec. 1, 2023 /PRNewswire/ -- USA News Group - According to the World Bank's Food Security Update 2023, food insecurity is on the rise across the globe. Among the more promising solutions being proposed is better data analytics of crops and soil, which is also being tied to the rise in data collection done with drone technology. It's a sector that's growing extremely rapidly, with analysts projecting the Drone Data Services market to explode by a CAGR of 39% from 2023 to 2030, to eventually top $15 billion. Many of the world's problems can and will be aided and even solved by better data collection, and there are plenty of companies looking to capitalize on drone-collected data, as well as artificial intelligence (AI) powered data analysis, including Scope Carbon Corp. (OTCQB:SCPCF) (CSE:SCPE), GoPro, Inc. (NASDAQ:GPRO), AeroVironment, Inc. (NASDAQ:AVAV), Amazon.com, Inc. (NASDAQ:AMZN), and EHang Holdings Limited (NASDAQ:EH).

Starting with the agricultural sector, Scope Carbon Corp. (CSE:SCPE) (OTCQB:SCPCF) has been quite active in this space, through its relationship with drone tech and data collection developers Farm Flight, which Scope is in the process of acquiring. Farm Flight's advanced imagery and analytics capabilities are designed to drastically improve the efficiency of their agricultural clients, and thereby bolstering the profitability of farmers across North America, by collecting data over properties through the use of drones. As per the goals of the partnership, Scope is developing an AI-driven imagery platform that when combined with Farm Flight's capabilities, is anticipated to be able to provide an effective scalable program that would improve the efficiency of the agricultural industry on a mass market scale.

The promising potential of the collaboration was enough to attract the attention of Patrick Burke, whom the company recently announced as a Strategic Advisor.

"Scope is poised to be tremendously impactful through mapping and data mining across multiple geographic zones," said Burke upon his new role's announcement. "Using AI technology with drones, the software generates vast amounts of data from agricultural crops, marine biology, and forestation to name a few."

Burke's resume is impressive, given his current role as Senior Advisor of Capital Markets at Canaccord Genuity, as well as 7 years as President of the Canadian Capital Markets division for the same fund. He's also served as Global Head of Equity and Co-Head of Global Investment Banking for Scotiabank, as well as Managing Director and Head of Canadian Equities for Merrill Lynch, and working in institutional equity and fixed income for Bank of Montreal.

"Scope is uniquely positioned to be a leader in carbon mapping, data aggregation, and monitoring," added Burke. "The efficiency of AI software being developed, combined with the value of the data will make the Company essential to their identified customer base. The model is to be ESG forward, which allows for significant efficiencies and provides cost savings to clients."

As the drone technology improves, so too does that of the cameras attached to them. In the case of GoPro, Inc. (NASDAQ:GPRO), which is often attached to drones to capture data, their technology is going beyond just agriculture, and into wildlife preservation as well.

For example, researchers from Flinders University recently touted the efficacy of their efforts using technologies such as cameras and AI to help conservation efforts. At the core of their research was the use of drones.

"Drones have become a popular conservation tool especially when monitoring cryptic species or animals in remote or inaccessible locations," said Dr. Diane Colombelli-Négrel, a Lecturer in Animal Behavior and Penguin Ecologist who has studied the heart-rate and responses of captive koalas (Phascolarctos cinereus) to test the effects of drone activity near their trees. "We developed a non-invasive way to measure heart rate in koalas using a Fitbit and to record their behavior and breathing rate with mobile GoPro camera when we flew drones about 15m above their heads in the wildlife park enclosure. Koalas responded to the drone flight with a short-term increase in vigilance but no change in heart rate or breathing rate—indicating that drones may not have a long-term detrimental effect on koalas' fitness or energy demands."

Now the market is looking towards the increasing capabilities of the drones themselves, with much of the attention being grabbed by Amazon.com, Inc. (NASDAQ:AMZN) and its drone deliveries.

Back in May 2023, Amazon announced it had successfully used its drone tech wing dubbed Prime Air for 100 drone deliveries. Amazon said thousands of people "have expressed interest" in the program and that the company is "working with each one of them to make this a reality."

As regulations shift, companies could unlock significant sustainability and cost advantages, making drone delivery a more attractive option for retailers and consumers, according to McKinsey Research. However, by August, there were some setbacks at Prime Air, as Amazon lost two executives key to the company's drone delivery operations.

Beyond packages, coming out of China is the possibility of passenger drones, or "drone taxis" from EHang Holdings Limited (NASDAQ:EH) which recently was cleared for takeoff with unmanned aircraft. EHang received safety approval certficiation from China's aviation authority. The 'type certification' from the Civil Aviation Administration of China (CAAC) is for EHang's 216-S model, a 16-rotor drone that can carry two passengers at speeds of 130 kilometres an hour at a max range of 30 kilometres.

"I extend my heartfelt gratitude to CAAC, the expert team, and all EHang employees for their unwavering dedication," said Huazhi Hu, Founder, Chairman and CEO of EHang. "Our self-developed EH216-S passenger-carrying UAV system has finally met high expectation to secure the first TC in the global eVTOL industry, marking a significant chapter in civil aviation history. Embracing the TC as our springboard, we will launch commercial operations of the EH216-S unmanned eVTOLs, prioritizing safety above all. This will enable us to steadily progress towards our strategic goal to be a UAM platform operator, and commit to our mission to enable safe, autonomous, and eco-friendly air mobility accessible to everyone."

Beyond commercial use, another benefit being touted for drones in service is that of attack drones for military defense. With rising conflicts now happening in multiple regions on the planet, help is on the way from AeroVironment, Inc. (NASDAQ:AVAV), which has received a 100-plus order from the US military to deliver Switchblade 600 attack drones to Ukraine.

The Switchblade 600 is "tremendously important to the defense of Ukraine," said Charlie Dean, the vice president of global business development and marketing at defense contractor AeroVironment in an interview with Newsweek. Under development for more than a decade, AeroVironment's original 300 model is still being tweaked and updated today, while the larger Switchblade 600 has been crafted to take out enemy tanks and armored vehicles littered across a battlefield, with the latest models capable of flying more than 40 minutes, with a loitering speed of 70 miles per hours.

In contrast to traditional artillery, Switchblades offer the advantage of scanning an area for targets even after they've been deployed. AeroVironment, the company behind these drones, is continuously gaining insights from real-world use in Ukraine, according to Dean. A persistent line of communication exists between the company and Ukrainian operators of the Switchblade drones. This enables rapid design improvements or adjustments, often within a matter of weeks.

Article Source: https://usanewsgroup.com/2022/10/03/in-the-next-5-years-the-carbon-credits-market-is-projected-to-be-worth-trillions/

Article Source:
USA News Group
http://USAnewsgroup.com [email protected]

DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). MIQ has been paid a fee for Scope Carbon Corp. advertising and digital media from the company directly. There may be 3rd parties who may have shares of Scope Carbon Corp., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Scope Carbon Corp. which were purchased in the open market, and reserve the right to buy and sell, and will buy and sell shares Scope Carbon Corp. at any time without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, we currently own shares of Scope Carbon Corp. and will buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles.

While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

USA News Group is Source of all content listed above. FN Media Group, LLC (FNM), 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 USA News Group or any company mentioned herein. The commentary, views and opinions expressed in this release by USA News Group are solely those of USA News Group and are not shared by and do not reflect in any manner the views or opinions of FNM. FNM is not liable for any investment decisions by its readers or subscribers. FNM and its affiliated companies are a news dissemination and financial marketing 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 was not compensated by any public company mentioned herein to disseminate this press release.

This release contains "forward-loking 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.

Media Contact Information:
FN Media Group, LLC
Media Contact e-mail:
[email protected]
U.S. Phone: +1(954)345-0611

SOURCE USA News Group