3) Drones are becoming more affordable
Drones will become more affordable for two causes. Drone manufacturers will need to lower prices
as a result of new competitors entering the market and improving drone manufacturing efficiency,
which should result in cheaper drone production.
4) Drone technology can become more and more accessible
With the rising accessibility of drones, many of the most dangerous and high-paying jobs within the
commercial sector are ripe for displacement by drone technology. The use cases for safe,
cost-effective solutions range from data collection to delivery. And as autonomy and
collision-avoidance technologies improve, so too will drones’ ability to perform increasingly
complex tasks.
The emerging global market for business services using drones is valued at over $127B,
according to PwC. And as more corporations look to capitalize on these commercial opportunities,
investment in the drone space has grown. In 2017 alone, investments totaled nearly $2 billion across
220 deals – a new record. For example, Amazon was granted approval from the FAA to test out its
Prime Air service, which would deliver packages up to 10 pounds in 30 minutes or less.
FedEx recently announced plans for a rapid cargo delivery system that would utilize autonomous
vehicles and drones that fly up to 500 feet off the ground, making it cheaper than trucking and
faster than sending items via plane. Other companies investing heavily in drone tech include
Alphabet (Google), DJI, Kespry, Intel, and Parrot.
Companies like Google's Project Wing have created vertical takeoff and landing (VTOL)
drones designed to carry heavy loads, like medical supplies. Google's Project Wing also
demonstrated an octocopter capable of carrying 400 lbs.
5) Drones offer a unique perspective
Drones enable real estate brokers, event planners, and owners of various businesses to easily and
inexpensively add amazing imagery to marketing efforts, going beyond the artistic endeavors of
photographers and filmmakers. Approximately 94 percent of drones sold are used for personal usage,
either as toys or for photography.
According to Recode, a news and trends website, despite the fact
that personal drones account for the majority of unit sales, the market only accounts for 40% of the
money made. The sales of the relatively few, more expensive commercial drones account for the
majority of the company's income. And in this sector, some of the most compelling brand-new
business opportunities and use cases are emerging as drone technology develops.
For example, drone companies have an opportunity to help make sure food supplies get from where
they’re grown to where they’re needed—saving lives by preventing spoilage and food shortages
during disasters. In industries such as construction, mining, pipeline monitoring, and inspections
—drones can reduce costs by eliminating the need for additional personnel who would otherwise
be needed on-site for measurements or other tasks. They also give crews easier access to dangerous
job sites without putting themselves at risk, which has led to higher productivity rates
.
For example, before Atlas Copco acquired a drone company called Airware last year, their technicians
could typically inspect 3km of pipeline per day using heavy equipment like ladders or helicopters.
After adopting Airware's technology, they were able to inspect 12km per day with just two people
carrying lightweight handheld devices. These examples demonstrate how the best course in 2023
is drone technology.
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