Drone Usage for Automated UAV Monitoring Solutions Witnessing Rapid Growth & Increasing Revenue Generating Opportunities

PALM BEACH, Fla., Sept. 17, 2024 (GLOBE NEWSWIRE) — FN Media Group News Commentary – The use of Unmanned Aerial Vehicles (UAV’s) is growing rapidly across many civil application domains, including real-time monitoring, providing wireless coverage, remote sensing, search & rescue, delivery of goods, security & surveillance, precision agriculture, and civil infrastructure inspection. The growth of the UAV market is fundamentally influenced by the evolution of technologies that include advancements in lightweight composite materials that enhance flight duration and efficiency, and developments in high-resolution imaging sensors that expand application possibilities. The integration of sophisticated data analytics and machine learning algorithms has significantly improved UAV intelligence, enabling autonomous operations. Additionally, improvements in communication systems, allowing for enhanced command and control capabilities, and the advancement of battery technology for longer operational ranges, are crucial. These factors collectively contribute to the escalating adoption and versatility of UAVs in various sector. A report from MarketsAndMarkets said: “The UAV volume is projected to grow from 5.42 million units in 2024 to 7.51 million units in 2029. The overall UAV (Drone) Market (OEM+ aftermarket) to be USD 30.2 billion in 2024 and is projected to reach USD 48.5 billion by 2029, at a CAGR of 9.9% from 2024 to 2029.” The report said: “Drones are particularly important for inspecting difficult-to-reach locations at certain altitudes or in contaminated surroundings. The use of drones has modernized telecommunication tower scrutiny as they can be used to carry out supervision of these towers cost-effectively and in less time. Drones can also be employed for aerial evaluation of buildings and other infrastructure such as pipelines, electric grids, offshore plants, and solar plates. They can use thermal imaging cameras to detect hotspots on solar plates; spots where energy is not spreading evenly. This can enhance the productivity of solar power plants by the instant identification of potentially problematic areas.”   Active companies in the markets this week include: Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO), Chevron Corporation (NYSE: CVX), Exxon Mobil Corporation’s (NYSE: XOM), ConocoPhillips (NYSE: COP), Occidental Petroleum Corporation (NYSE: OXY).