Global Search & Rescue Drone Market Estimated To Exceed 3.25 Billion By The End Of 2023

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Jan 17, 2023, 08:45 ET

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PALM BEACH, Fla. , Jan. 17, 2023 /PRNewswire/ -- Deployment of drones have increased in recent years for a variety of purposes. Drones offer unique capabilities used by emergency responders around the world. They can be used on land and at sea or at night or in low visibility. They are saving many lives by participating in various general emergency and security operations and their use in search and rescue operations has proven to be one of the most potentially life-saving applications. Equipped with sensors and powerful cameras, drones can cover a large area in a short time. Search and rescue drones can also be equipped with special equipment such as infrared cameras and speakers. This allows user to locate missing persons and save lives. Helicopters and manned aircraft cost hundreds of dollars an hour to operate during rescue operations. Drones, only require an initial investment and have a low maintenance cost. The drone takes off from a safe location and scans from a high altitude. This leads to the safety of the team the as they stay back on the ground and get an idea of the rescue operation. A report from Fact.MR projected that the search and rescue drone market is estimated to reach valuation of US$ 3,254.4 Million in 2023 and will top US$ 11,648.1 Million by 2033, growing with a CAGR of around 13.6% from 2023-2033. The report said: "Search and rescue drones are now becoming a popular product for responders conducting any type of emergency response. These drones are designed to provide aerial support to ground teams in searching for the locations of missing and injured people. The team can rely on UAVs for search and rescue missions while other team members continue conventional search techniques or provide support elsewhere. Equipped with the right sensors and cameras, the drone can cover large areas quickly and efficiently, making it ideal for search missions." Active companies in the markets this week include: Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO), Deutsche Lufthansa AG (OTCQX: DLAKY), Joby Aviation, Inc. (NYSE: JOBY), The Boeing Company (NYSE: BA), Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS).

Fact.MR continued: "Drones can now fly farther and higher owing to developments in sensor technology, giving them a clearer view of hard-to-reach places. They will also have stronger cameras and other sensors, enabling them to gather more comprehensive data about possible victims and dangers. Fact.MR anticipates that search and rescue teams will depend more and more on these adaptable and life-saving devices as drone technology advances. Manufacturers will also shift towards these innovations for generating higher profits… (Drones are) a safe, efficient, and cost-effective product to drive market growth for search and rescue drone."

Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) BREAKING NEWS: Draganfly Selected by Lufthansa Industry Solutions to Strengthen Marine Search and Rescue Infrastructure - Draganfly Inc. (FSE: 3U8) ("Draganfly" or the "Company"), an award-winning, industry-leading drone solutions and systems developer, is pleased to announce that Lufthansa Industry Solutions, an IT service provider and a subsidiary of Lufthansa Group has entered into a letter of intent with Draganfly to explore providing its drone solutions and Vital Intelligence (VI) technology for use into its existing infrastructure and customer solutions.

Draganfly's technology will assist in Lufthansa Industry Solutions' objective of providing the maritime industry with the highest information technology and performance monitoring standard. Draganfly's drone solutions will be integrated for deployment during marine search and rescue operations and for reconnaissance purposes, adding another layer of safety and security for crew members and passengers.

Draganfly's search and rescue drone can be utilized when a passenger aboard a vessel falls into the ocean. These specialized drones are high-endurance, multirotor UAVs capable of utilizing Draganfly's optical and infrared imaging solutions during an active emergency. The company's drone can be used to thoroughly map certain areas, locate survivors, and begin measuring core vitals.

The reconnaissance drones provided by Draganfly can carry out inspections of cargo and potential hazards on the water. This UAV is a high-endurance, drone that utilizes optical and imaging solutions. These drones can even function in hazardous areas.

Lufthansa Industry Solutions plans to integrate Draganfly's Vital Intelligence technology into its Artificial Intelligence as a Service (AIaaS) platform, a package that offers a quick and easy solution for businesses trying to achieve digital transformation. Draganfly's Vital Intelligence (VI) is software that uses video feed from simple RGB cameras to measure biometric data and share human experience and health insights.

"We are thrilled to partner with Lufthansa Industry Solutions and provide our versatile AI technology for use in their current infrastructure," said Cameron Chell, President and CEO of Draganfly. "This partnership reflects the growing demand for our drone, AI and data solutions with Tier 1 customers." 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

Deutsche Lufthansa AG (OTCQX: DLAKY) recently announced an upbeat forecast for air travel, saying it expected demand to remain strong. Consumer demand for travel in Europe is holding up despite record-high euro zone inflation, with travelers willing to pay higher fares, according to recent statements by airlines including Ryanair and easyJet. Lufthansa said on Thursday that the continued high premium demand from leisure travelers was especially remarkable, with load factors in Business and First Class exceeding pre-pandemic levels. Its yields, a metric of profitability, jumped by 23% in the third quarter versus 2019, reaching a new record high.

"With this sort of commentary even at the end of October, by when the airline should have significant visibility into November (one of the softest months in a typical year), we could be looking at an industry confounding fears of a macro-driven slowdown even as Europeans turn the heating on," Bernstein analyst Alex Irving said.

Joby Aviation, Inc. (NYSE: JOBY) recently announced the completion of its second of four System Reviews required by the Federal Aviation Administration ("FAA") as part of the Company's aircraft type certification program.

The successful completion of the in-person, multi-day audit by the FAA last week at Joby's facilities in Marina, California, demonstrates the Company's continued leadership on the path to certifying its revolutionary electric vertical take-off and landing (eVTOL) aircraft.

The series of System Reviews serve to validate the overall architecture of the aircraft and ensure the Company's development process is on track to satisfy the FAA's safety objectives associated with complex aircraft systems. The System Reviews take place alongside the ongoing submission of Means of Compliance, area-specific certification plans, and other certification documents that cover specific elements of the Joby aircraft and its systems.

The Boeing Company [NYSE: BA] recently reported 774 commercial orders last year after cancellations and conversions, including 561 orders for the 737 family and 213 orders for the company's market-leading twin-aisle airplanes. Boeing delivered 69 commercial jets in December, including 53 737 MAX, bringing total deliveries for 2022 to 480 airplanes.

"We worked hard in 2022 to stabilize 737 production, resume 787 deliveries, launch the 777-8 Freighter and, most importantly, meet our customer commitments," said Boeing Commercial Airplanes President and CEO Stan Deal. "As the airline industry expands its recovery, we are seeing strong demand across our product family, particularly the highly efficient 737 MAX and the 787 Dreamliner. We will stay focused on driving stability within our operations and the supply chain as we work to deliver for our customers in 2023 and beyond."

Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a leading National Security Solutions provider, recently announced that its Defense & Rocket Systems business supported the successful intercept test of a medium-range ballistic missile (MRBM) target by a Standard Missile 3 (SM-3) Block IIA fired from the JS Maya (DDG 179), marking the first time that a Japanese Maya-class destroyer has fired an SM-3 Block IIA. The intercept was the highlight of the Japan Flight Test Aegis Weapon System-07 (JFTM-07) event which featured four Kratos subscale ballistic missile targets that was conducted by the Japan Maritime Self-Defense Force (JMSDF) and the United States Missile Defense Agency (MDA) over a span of two weeks from the Pacific Missile Range Facility (PMRF) in Hawaii. During the event, the Kratos team also supported a live-fire event featuring the engagement of a short-range ballistic missile (SRBM) target by the JS Haguro (DDG 180). Altogether, Kratos along with Government and industry partners, integrated and launched three MRBM targets and one SRBM target in support of these mission critical national security related exercises.

The three-stage MRBM targets feature a "payload" mounted atop Kratos' proven Oriole rocket motor and two government surplus Terrier Mk-70 rocket motors, while the two-stage SRBM target uses a Kratos Oriole and one Terrier Mk-70, to deliver the respective payloads to specific mission requirements. All four target vehicles, which have an incredibly successful, flight-demonstrated heritage on test and intercept missions for the US Navy and the MDA, executed nominal trajectories while meeting target requirements.

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