Palm Beach, FL – December 13, 2022 – FinancialNewsMedia.com News Commentary – Unmanned aerial vehicles (UAV), commonly known as drones, are capable of delivering small packages and they are being utilized around the globe in ever increasing numbers. They typically have 4 to 8 propellers, rechargeable batteries, and attach packages below their bodies to create thrust. Drones can be controlled remotely or independently, and the user can control numerous drones at once. Additionally, they can use cargo drones to deliver shipments weighing up to 200 kg. They are primarily utilized in the logistics industry to transport medium-sized products across great distances. Cargo drones for logistics and transportation minimize the urban traffic, CO2 emissions, speed up delivery services, reach hard-to-reach places, and operate continuously without the need for shift work. In a number of locations throughout the world, cargo drones are utilized for deliveries that need to be made quickly, such as medical supplies, or that are challenging to do with conventional vehicles. Compared to conventional systems, the use of cargo drones in logistics and transportation can change the economics for smaller and medium-sized goods. A recent report from Fact.MR projected that the global cargo drones market is set to enjoy a valuation of US$ 10,580.2 million in 2023 and further expand at a CAGR of 14.6% to reach US$ 41,337.1 million by the end of 2033. Active companies in the markets this week include: Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO), Teledyne Technologies Incorporated (NYSE: TDY), Joby Aviation, Inc. (NYSE: JOBY), Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), Ambarella, Inc. (NASDAQ: AMBA).
The report said: “The demand for cargo drones is expected to be very profitable during short term. This will be accomplished by selling cargo drones through a variety of sales channels, which will open up a wide range of opportunities to directly reach out to consumers all over the world. On the demand side, North America is most likely to be the most significant region. During the projected period, the East Asia region’s robust supply chain network and capital expansion will provide manufacturers with new prospects. Along with organic growth strategies, manufacturers have several opportunities to follow inorganic growth strategies such as merger, partnership and collaboration to expand in East Asia region owing to ample opportunities for revenue generation.”
Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) BREAKING NEWS: Draganfly’s Commander 3 XL Wins Best Enterprise Drone at the Droning Awards – Draganfly’s Commander 3 XL Drone is a high-endurance, weather-resistant, multirotor UAV, designed for easy assembly and rapid deployment – Draganfly Inc. (FSE: 3U8) (“Draganfly” or the “Company”), an award-winning, industry-leading drone solutions and systems developer, is honored to announce its Commander 3 XL Drone has been voted Best Enterprise Drone at The Droning Company’s Annual Droning Awards.
Hosted by The Droning Company, the Droning Awards were created to recognize and celebrate outstanding drone innovations for 2022 and voted on by drone pilots and enthusiasts.
The Commander 3 XL Drone is one of three new products introduced by Draganfly this year. Draganfly’s Commander 3 XL Drone is known as the “Swiss Army Knife of Drones” for its easy assembly and rapid deployment. This high-endurance, multirotor UAV can support dozens of payloads and is capable of drop and winch-down systems to transport up to 26 pounds of payload. This weather-resistant drone performs extremely well in light rain and snow.
“Draganfly is very proud and honored to receive this award from the Droning Company community,” said Cameron Chell, President and CEO of Draganfly. “Draganfly’s team has always been passionate about creating the world’s best flying machines that fit the needs of our customers and clients. The entire team is dedicated and hard-working and we appreciate the recognition.” 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
Teledyne FLIR Defense, part of Teledyne Technologies Incorporated (NYSE: TDY), recently announced at CBRNE Convergence the launch of its new MUVE™ R430 drone sensor payload used to remotely detect and identify radiation sources and radiological hazards across a wide range of use scenarios.
Teledyne FLIR Defense announced the launch of its new MUVE™ R430 drone sensor payload used to remotely detect and identify radiation sources and radiological hazards across a wide range of use scenarios. The MUVE™ R430 is an advanced radiation detector purpose-designed for unmanned aerial systems (UAS) to detect, locate, measure, map, and identify radioactive sources from above. Using the same field-proven technology as Teledyne FLIR’s acclaimed identiFINDER® series of radionuclide identification devices employed worldwide, the R430 enables users to quickly pinpoint and accurately identify sources of radioactivity from a distance. Ready to deploy in minutes, MUVE R430 is a versatile platform for diverse situations, including wide-area hazmat surveys, emergency response, and environmental monitoring.
Joby Aviation, Inc. (NYSE: JOBY), a California-based company developing all-electric aircraft for commercial passenger service, recently announced its financial results for third quarter 2022. Please visit the Joby investor relations website https://ir.jobyaviation.com/ to view the third quarter 2022 shareholder letter. A replay of the webcast is available on the company website.
Joby Aviation, Inc. (NYSE: JOBY) is a California-based transportation company developing an all-electric vertical take-off and landing aircraft which it intends to operate as part of a fast, quiet, and convenient service in cities around the world.
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a leading National Security Solutions provider, has recently been awarded a subcontract to increase America’s capacity for hypersonic flight testing. The program, known as Multi-Service Advanced Capability Hypersonics Test Bed (MACH-TB), was awarded by Naval Surface Warfare Center (NSWC), Crane Division’s Strategic and Spectrum Missions Advanced Resilient Trusted Systems (S2MARTS) other transaction authority to Kratos partner and prime contractor Dynetics and the MACH-TB Team (the Team) on behalf of the U.S. Department of Defense (DoD).
Under the MACH-TB contract, the Team will develop an affordable and responsive hypersonic test bed platform to dramatically increase the nation’s capacity for ground and flight testing of hypersonic technologies and payloads by leveraging commercial infrastructure and launch vehicle providers. The MACH-TB Experimentation project will result in a proof of concept and prototype demonstration of modular Experimental Glide Body (EGB) testing hypersonic technologies/experimental payloads in operational trajectories using already available boosters. The MACH-TB program will offer the DoD a national hypersonic testing capability to be leveraged by a broad range of U.S. military hypersonics programs, DoD research programs, industry partners, and stakeholders from academia.
Ambarella, Inc. (NASDAQ: AMBA), an edge AI vision silicon company, recently announced financial results for its third quarter of fiscal year 2023 ended October 31, 2022.
Revenue for the third quarter of fiscal 2023 was $83.1 million, down 10% from $92.2 million in the same period in fiscal 2022. For the nine months ended October 31, 2022, revenue was $254.3 million, up 5% from $241.6 million for the nine months ended October 31, 2021.
Gross margin under U.S. generally accepted accounting principles (GAAP) for the third quarter of fiscal 2023 was 62.2%, compared with 62.5% for the same period in fiscal 2022. For the nine months ended October 31, 2022, GAAP gross margin was 62.6%, compared with 62.4% for the nine months ended October 31, 2021.
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