Global Artificial Intelligence (AI) Drone Technology Market Size Expected to Reach $206 Billion by 2033
PALM BEACH, Fla., Oct. 02, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - The AI in Drone Technology involves the integration of artificial intelligence with drone technology to enhance the capabilities of drones in various applications, such as military and defense, agriculture, logistics, government, industrial sectors and construction. In fact, a recent report (August 2024) from market.us said that the Global AI in Drone Technology Market size is expected to be worth around USD 206.9 Billion by 2033, from USD 12.5 Billion in 2023, growing at a CAGR of 32.4% during the forecast period from 2024 to 2033. The report said: “The AI in Drone Technology Market focuses on the integration of artificial intelligence into drone operations. AI enhances drone capabilities in areas such as navigation, data collection, and autonomous decision-making. This market is growing rapidly as industries recognize the potential of drones to improve efficiency and reduce costs. Key applications of AI in this market include precision agriculture, aerial surveillance, and delivery services. AI-driven drones can analyze vast amounts of data in real-time, enabling more accurate decision-making and faster response times. Industries such as agriculture, logistics, and defense are major adopters.” Active AI/Drone Tech Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), AeroVironment, Inc. (NASDAQ: AVAV), Draganfly Inc. (NASDAQ: DPRO), Red Cat Holdings, Inc. (NASDAQ: RCAT), AgEagle Aerial Systems Inc. (NYSE: UAVS).
Market.us continued: “As the use of drones expands, the role of AI in enhancing their capabilities will become increasingly important. Companies that invest in AI-powered drones can achieve significant operational advantages, such as improved accuracy and reduced labor costs. The focus should be on developing AI solutions that address specific industry needs. Government support is also crucial in fostering the growth of AI in drone technology. In the United States, the Federal Aviation Administration (FAA) has authorized over 400,000 commercial drone operators, with a significant portion utilizing AI-driven drones. This regulatory environment, coupled with strong government backing, ensures the safe and efficient deployment of drones in various industries. The integration of AI with drone is not only enhancing operational efficiency but also driving significant economic benefits. The ability of AI-driven drones to perform tasks with greater precision and speed is revolutionizing traditional methods in agriculture, logistics, and beyond. As regulatory frameworks continue to evolve and support the adoption of these technologies, the market for AI in drone technology is poised for substantial growth.”
ZenaTech Inc. (NASDAQ:ZENA), AI Drone and Enterprise SaaS Company, Announces Direct Listing on the Nasdaq Capital Market Under the Symbol ZENA - ZenaTech, Inc. announced that trading of ZenaTech’s common shares commenced this week on the Nasdaq Capital Market under the stock ticker symbol ZENA.
"We are pleased ZenaTech has reached the status of a publicly listed company on Nasdaq," said CEO, Dr. Shaun Passley Ph.D. “This achievement will help expand our universe of potential investors and will enable our growth plans for drone solutions, incorporating software and hardware innovations, for inspection, monitoring, compliance, field service, and other applications to meet current customer demand.”
ZenaTech is a technology company specializing in AI drone solutions and enterprise SaaS solutions for mission-critical business applications. Since 2017, the company has leveraged its software development expertise and grown its drone design and manufacturing capabilities through ZenaDrone, to innovate and improve customer inspection, monitoring, safety, security, compliance, and field service processes. With over 100 enterprise software customers using our branded solutions in law enforcement, government, and industrial sectors, and drones being implemented in these plus agriculture, defense, and logistics sectors, ZenaTech helps drive exceptional operational efficiencies and cost savings.
ZenaTech provides drone or UAV (unmanned aerial vehicle) and a SaaS-based enterprise software solutions that help businesses and government improve mission-critical operations. From drone solutions for smart farming or accessing medical supplies on the battlefield, to software applications used by law enforcement, field service technicians, and plant managers, the company’s portfolio of subsidiary brands and patented products deliver innovation, automation, and cost savings.
The ZenaDrone 1000 is a cutting-edge drone that combines innovative software technology and custom hardware components, catering to diverse industries such as construction, agriculture, surveillance, search and rescue, and environmental inspection. The ZenaDrone IQ series are designed for indoor hovering with autonomous inspection and monitoring capabilities. It features integrated sensors, and high-quality cameras. The drone’s sleek and portable design ensures superior video transmission and sensing systems, providing reliable aerial visual data. Read the full press release and more for ZenaTech at: https://www.financialnewsmedia.com/news-zena/
Other recent developments in the AI technology industry include:
AeroVironment, Inc. (NASDAQ: AVAV) was recently awarded a contract for the U.S. Army’s Directed Requirement (DR) for Lethal Unmanned Systems (LUS). The 5-year contract from Army Contracting Command-Aberdeen Proving Ground is Indefinite Delivery, Indefinite Quantity (IDIQ) with a contract ceiling value of $990M. Deliveries of the Switchblade® systems are expected to begin in months.
The LUS Directed Requirement is the Army’s first effort to equip soldiers in infantry battalions with lethal, man-portable loitering munition systems. The combat-proven Switchblade systems will enhance soldiers' capabilities with precision flight control, greater lethality against fortified targets such as armored vehicles and tanks, and the ability to track and engage moving non-line-of-sight targets. AV was awarded a contract for the LUS Directed Requirement in December 2023 and is currently delivering systems under that contract.
Draganfly Inc. (NASDAQ: DPRO), an award-winning, industry-leading drone solutions and systems developer, recently announced that it has received a purchase order from TB2 Aerospace (TB2) for Commander 3XL Drones to be deployed with TB2 Drone Recharging Operational Payload System Pods (DROPS) within the DoD for various mission types. This order represents the beginning of the deployment and scaling of the DROPs system in conjunction with the Draganfly line of drones.
The Commander 3XL will be utilized to carry out various logistics missions. The Commander 3XL is well suited as a transport vehicle, as is the entire Draganfly drone product line for TB2 Aerospace’s smart logistics PODs, as Draganfly Drones are interoperable, providing operators a variety of aircraft size, payload capacity and weight configurations that utilize common communication, counter electronic warfare options, mission planning software, accessories, payloads and more. TB2 Aerospace and Draganfly have collaborated to integrate TB2’s DROPS Pods on Draganfly’s drones, positioning Draganfly as a primary transport vehicle for TB2 Aerospace deployments within the DoD.
“We are honored to be doing this exciting work with TB2 and to have been selected for this important work in the military logistics sector," said Cameron Chell, CEO of Draganfly. "Draganfly thrives at working to provide exceptional capabilities by integrating our line of drones, experience, and technology stack into mission profiles and use cases with our commercial and military partners—and doing it within time frames and at costs that few others can.”
Palladyne AI Corp. (PDYN), a developer of artificial intelligence software for robotic platforms in the defense and commercial sectors, and Red Cat Holdings, Inc. (NASDAQ: RCAT), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, recently announced a partnership intended to enhance the autonomous capabilities of all Red Cat’s Teal drones using Palladyne AI’s Pilot software.
Leveraging its years of innovative development work for U.S. Government customers, Palladyne AI is developing an artificial intelligence platform for unmanned systems to enable persistent detection, tracking, and classification of objects of interest by synthesizing multi-modal sensor fusion data in real-time. The AI product for mobile systems, known as "Palladyne™ Pilot", will facilitate shared situational awareness across multiple drones and autonomous navigation when integrated with drone autopilot systems. Palladyne Pilot is expected to be made available for all Teal drones, including those already in the field.
AgEagle Aerial Systems Inc. (NYSE American: UAVS), an industry-leading provider of full stack flight hardware, sensors and software for commercial and government use, recently announced the Company was selected for and participated in a collaborative test flight event sponsored by the Defense Innovation Unit (DIU).
The three-day event, in partnership with the Office of the Under Secretary of Defense for Acquisition & Sustainment (OUSD-A&S), Air Force Research Lab (AFRL), Auterion GS, AX Enterprize, Skydio, and Somewear Labs, was held at the 300-acre FAA-designated NY UAS Test Site. The purpose was to evaluate the integration of select Blue Unmanned Aerial System (UAS) platforms with the Collaborative Low-Altitude UAS Integration Effort (CLUE) Uncrewed Traffic Management (UTM) system. This system, developed by AFRL, provides a way to enable the safe, secure, and efficient operations of UAS within the national airspace system.
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