The use of drones beyond military operations is becoming increasingly common. Aerial vehicles are increasingly taking over in various sectors, from agriculture to industrial processes, healthcare, and construction. The strong demand for unmanned vehicles has given rise to a market that is growing at a compound annual growth rate of 27% and is expected to be worth $260 billion by 2030. EPAZ, AITX, UAVS, and DPRO are some of the little-known gems offering solid exposure to the burgeoning segment.
Epazz Inc. (OTC: EPAZ) is one company that is becoming a market leader in drone technology, in addition to expanding its footprint into cryptocurrency technology, blockchain mobile apps, and cloud-based business solutions. Through its unit ZenaDrone, the company is sending shockwaves with ZenaDrone 1000, a total autonomous drone offering surveillance, inspection, and monitoring solutions.
The drone leverages advanced technology, including artificial intelligence, along with compact and rugged hardware, making it highly suited for military construction, and agriculture surveillance, among other applications. Due to its capabilities, the multifunctional unmanned aerial vehicle continues to elicit strong demand and positive reviews from various industries.
ZenaDrone 1000 capabilities have seen Epazz secure its third patent for the technology behind the drone. On August 1, 2022, the company confirmed that the new patent covers the drone's unique design and utilization of a drone platform. The patent strengthens the company's patent portfolio, as it also seeks to file for new ones as the technology continues to elicit strong interest from larger parties.
CEO Shaun Passley, Ph.D., said, “We are manufacturing over 30 drones that will be used for our customers in Ireland and the U.S. The new patent further secures our technology.”
The patent issuance comes on the heels of Epazz inking a deal with Night Sun, a Native American corporation, on July 27, 2023. The deal is for manufacturing and selling ZenaDrone 1000 on Native American tribal lands. Under the terms of the agreement, ZenaDrone is to mass produce its drones for use in Native American tribal lands and by the US government and other agencies.
Plans are underway to set up a drone manufacturing facility in the tribal lands that should pave the way for Epazz to enjoy tax and contract benefits. The first drones to be produced at the facility will function as service drones and are expected to earn over $100,000 per drone per year.
Production in the Native American Tribal lands follows confirmation that the company is to manufacture over 30 drones, of which 20 will be used as drones as a service in Ireland. The remaining 10 drones are to be used as part of a joint venture with Night Sun LLC.
Epazz is ramping up ZenaDrone 1000 production, having received support from the US Air Force. The support comes from successful trials that showed the drone has a role to play in various military operations.
ZenaDrone has already confirmed plans to enhance its drones AI capabilities to enable autonomous navigation of unmapped terrain and deep learning algorithms. The ultimate goal is to enhance the drone's capabilities and use it in various terrains and applications.
The company has also set its sights on the cryptocurrency sector in pursuit of growth opportunities. The company unveiled CryObo Technology on July 19, 2023, designed to help farmers tokenize their crops through the issuance of non-fungible tokens.
The CryObo software enables the tokenization of farm crops and produce while also providing an avenue for raising capital. Tokenization of farm produce is seen as one of the most effective ways of enhancing food security by providing farmers with additional funding to invest in improving crop and farm production.
Artificial Intelligence Tech Solutions Inc. (OTC: AITX) Is another company positioned for tremendous growth amid the growing demand for autonomous solutions. The company specializes in delivering artificial intelligence and robotic solutions for operational security and monitoring needs. It also develops front-end and back-end software solutions.
On August 1, 2023, the company and its wholly owned subsidiary, Robotic Assistance Devices, confirmed the best order book month of the year. The company attracted 69 orders in the month of July consisting of comprehensive Robotic Assistance Devices (RAD, RIO, and AVA units). The strong demand underscores the growing acceptance and trust of the expansive RADs product line across multiple industries, use cases, and industries.
"Our projections to reach positive cash flow included months like this, so I’m thrilled we achieved the first of what we hope will be many," said Steve Reinharz, CEO of AITX and RAD. “We’ll be working hard to normalize this order intake going forward and start aiming for $100,000 RMR months."
Artificial Intelligence Technology Solutions is looking to redefine the $25 billion security and guarding services industry with its arsenal of security solutions. Its AI-powered solutions are designed to save businesses up to 80% compared to costly manned security guards and monitoring systems.
The orders are expected to generate over $50,000 in recurring monthly revenues, or roughly $600,000 a year. The orders are expected to propel the company to positive cash flow. In addition, it has started making strides toward addressing its production backlog. The move is expected to make it easy for the company to clear its July orders, most of which are scheduled for shipping in August.
AgEagle Aerial Systems Inc. (NYSE American: UAVS), a company that designs and delivers autonomous unmanned aerial systems worldwide, is already making bold moves in the multibillion-dollar drone industry. Operating in three segments drones, Sensors, and Software as a Service, it offers an unmanned aerial vehicle under the eBike and eBee X brands.
The leading provider of full-stakes flight hardware, sensors, and software for commercial and government use has introduced a new drone as it continues to strengthen its competitive edge in the segment. EBee Vision is the company's latest drone innovation that promises to be a game changer in Intelligence Surveillance and Reconnaissance.
The unmanned aerial system comes with 4K resolution video imagery from a distance of up to 12 miles. AgEagle Aerial Systems has been engaged in numerous live demonstrations and intensive training sessions with government officials as well as military agencies across the globe. It has already showcased the power of the eBee Vision drone and received positive reviews for its applications in various operations.
According to Barrett Mooney, Chairman and CEO of AgEagle, “These events have all proven successful in affirming the operational capabilities of the eBee VISION and have helped to fuel rising procurement interest and demand for our exciting new ISR solution from government and commercial prospects, alike.”
In July, the company completed training sessions with European military customers that touted eBee Vision as a game-changing drone when it comes to scouting, surveillance, and usability, among other use criteria as specified by the military community.
Consequently, the drone has been certified to be effective for public safety and first responder missions. It can also be used for border patrol and a wide range of commercial applications thanks to its ability to deliver high-resolution video imagery with its 32X zoom and powerful thermal observation capabilities. It also comes with sensor payloads capable of detecting, tracking, and geo-locating objects in both daytime and nighttime conditions.
Draganfly Inc. (NASDAQ:DPRO) is another company flexing its muscle in the multi-billion drone space by designing, manufacturing, and selling unmanned aerial vehicles. The company has made a name for itself by producing quadcopters, fixed-wing aircraft, ground-based robots, and handheld controllers. It also deals in software tracking, live-streaming flight training, and data collection.
On August 3, 2023, the company confirmed that its new state-of-the-art manufacturing facility in Saskatchewan is poised to come online in the third quarter. The facility's expansion is part of its push to meet the ever-growing demand for its products and solutions.
"It is a thrilling time as the industry is expanding, and Draganfly strategically positions itself to meet this growth. The upcoming Saskatoon facility will be crucial in meeting demand while upholding our dedication to developing world-class products and solutions," said Cameron Chell, Present and CEO of Dragonfly.
The new facility is to handle the development of UAV systems and components, including Heavy Lift, Commander 3XL, and the latest product, Precision Delivery System. The facility is expected to enhance core assembly integration and quality control operations. It is also expected that you enhance production capacity while creating opportunities to develop exciting new products and solutions.
The company had a solid second quarter, going by the impressive results delivered on August 9, 2023. Revenues In the quarter totaled $1.9 million, made up of product sales of $1.58 million and $317,681 in drone service revenues.
During the quarter, the company entered into an agreement with HEAL Corp., a non-government organization, and the Ukrainian National Academy of Internal Affairs. The agreement pertains to the training and use of drones and the company's countermeasure systems. Dragonfly is to implement a designed curriculum that is to be used within the training program.
Additionally, the company unveiled the Starling X.2 drone digital display messaging platform. With innovative features and capabilities, the platform is designed to offer versatile rapid-response messaging and aerial advertising to communicate and promote in various sectors. It would be of great use in emergency response, outdoor events, advertising, marketing, and public safety.
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