Beyond Visual Line Of Sight (BVLOS) Drone Market Could Exceed $34 Billion By 2029

Financialnewsmedia.com News Commentary

PALM BEACH, Fla., Jan. 28, 2021 /PRNewswire/ -- BVLOS (Beyond Visual Line of Sight) drones are flown beyond the visual range of the operator, helping them cover greater distances. The civil and commercial segment of the market includes the use of the autonomous BVLOS drones for various purposes, including package delivery, critical infrastructure inspection, aerial surveying and mapping, mining, construction, precision agriculture, firefighting, search and rescue, and in other uses by the law enforcement agencies. The market is gaining traction, as the applications of these autonomous BVLOS drones are increasing, in tandem with the increasing need for enhancing efficiency and industrial productivity. A report from ResearchAndMarkets said that the autonomous BVLOS drone industry analysis projects the market to grow at a significant CAGR of 25.91% on the basis of volume during the forecast period from 2019 to 2029. However, another report from BIS Research added to that projection saying that the Beyond Visual Line of Sight (BVLOS) drone market generated revenue of $18.87 billion in 2018 and is projected to grow at a CAGR of 5.94% during the forecast period from 2019 to 2029. The market is projected to reach $34.65 billion by 2029.  Active tech companies in the markets this week include FLIR Systems, Inc. (NASDAQ: FLIR), Plymouth Rock Technologies Inc. (OTCQB: PLRTF) (CSE: PRT), AeroVironment, Inc. (NASDAQ: AVAV), Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), Draganfly Inc. (OTCQB: DFLYF) (CSE: DFLY).

Yet another report from Mordor Intelligence said: "Currently, the military segment has the largest market share in the autonomous BVLOS drones market. Autonomous drones are being used for various purposes in the military, like aerial warfare and ISR applications. The revenues have been higher from the military segment, as militaries mostly use large UAVs with higher unit prices. In addition to the existing models of autonomous BVLOS drones, new drones are also being produced. The use of autonomous BVLOS drones was mainly limited to the military in the past. However, presently, these drones are being vigorously adopted for commercial purposes, for aerial mapping, surveying, and inspection purposes over long distances. In addition, the increasing demand for last-mile drone delivery is boosting the autonomous BVLOS drones market in the civil and commercial sector, which is expected to propel the segment to register a higher CAGR during the forecast period."

Plymouth Rock Technologies Inc. (CSE: PRT.CNQ) (OTCQB: PLRTF)  BREAKING NEWS:  PLYMOUTH ROCK TECHNOLOGIES SUPPLIES UAV FOR UNITED NATIONS ASSISTANCE MISSION IN SOMALIA -  Plymouth Rock Technologies ("Plymouth Rock", "PRT", or the "Company"), a leader in developing threat detection and unmanned technologies, is pleased to announce that it has supplied its first Unmanned Aerial Vehicle (UAV) to the United Nations (UN) as part of UNSOM (United Nations Assistance Mission in Somalia) under the United Nations Environment Program (UNEP).

The program is for a reseeding mission. UNEP estimated 8.2 million trees were cut down for charcoal in Somalia between 2011 and 2017, increasing land degradation, food insecurity and vulnerability to flooding and drought. Over 80 percent of charcoal produced in Somalia is exported to Gulf States and neighbouring countries. Illegal trade in charcoal is recognized as a key contributor to insecurity in Somalia, providing a major source of funding for militias, terrorist groups, and other actors linked to conflict, who illegally tax exports. 

To address the issues of charcoal in Somalia, both the demand and supply side have to be tackled. To do this, the Government of Somalia needed cooperation to implement the UN Security Council Resolution and ensure the environmental, economic and human losses that happen because of illegal charcoal trade are curbed.

The platform supplied for this application is a highly modified hexacopter drone that has the sensory and beyond visual line of sight (BVLOS) capability of the PRT X1.

"Operating in a war zone, flying BVLOS at night whilst carrying a heavy payload, and delivering it with exact precision is not a simple undertaking," stated Carl Cagliarini, Co-Founder and Chief Strategy Officer of PRT. "Not to mention in all weather conditions and on a 20 nautical mile round trip! The technologies within this UAV platform combined are not dissimilar to that found on military assets. The task of stripping away every ounce of weight to add the means for stealth flight and essential mission tools was critical," concluded Cagliarini.

"Notwithstanding the tremendous accolade of serving a UN mission, but one with an undertaking of such ecological and economic importance is an honor for all of our staff and the company as a whole," stated Dana Wheeler, Co-Founder and CEO of PRT. "I believe that this deployment is a further example of the world class ingenuity and engineering capability within the PRT team and it's technology partnerships. Working on essential UK NHS programs along with completing the UN shipment during the first week of the new year required our staff to work through the holidays and COVID-19 restrictions is testimony of our team commitment to delivering what is required when it is essential," concluded Wheeler.

"During my many years in government service, I got to witness firsthand the incredible work the United Nations does.  It is a true honor for us at Plymouth Rock Technologies to be part of such an important project," said Douglas Smith, Chairman of Plymouth Rock and former Assistant Secretary of Homeland Security. Read this and more news for PRT at:  https://www.plyrotech.com/news/ 

Other recent developments in the tech industry include:

AeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems, and Arcturus UAV, Inc., a privately-held leading provider of Group 2 and 3 unmanned aircraft systems (UAS) and services, recently announced that they have entered into a definitive agreement under which AeroVironment will acquire Arcturus UAV for a total purchase price of $405 million, including $355 million in cash and $50 million in AeroVironment stock. The transaction, which was unanimously approved by the AeroVironment and Arcturus UAV Boards of Directors, is expected to accelerate AeroVironment's strategy to drive profitable growth and value by expanding into attractive adjacent segments and by broadening its capabilities and customer footprint.

Founded in 2004 and based in Petaluma, California, Arcturus UAV has approximately 270 employees, designs and manufactures Group 2 and Group 3 UAS and provides related services, including contractor-owned, contractor-operated (COCO) services. Arcturus UAV is a leading supplier to the USSOCOM, supporting its $1.4 billion MEUAS III and IV programs, and one of four awardees selected for funded development and demonstrations supporting the U.S. Army's FTUAS program, a potential billion dollar, next-generation UAS program. Arcturus UAV has a demonstrated track record of solid performance, with topline growth exceeding 20 percent for each of its last two fiscal years.

FLIR Systems, Inc. (NASDAQ: FLIR) recently announced it has received an additional $30.1 million contract from the United States (U.S.) Army for sustainment efforts tied in part to the service's Man Transportable Robotic System Increment II (MTRS Inc. II) and Common Robotic System-Heavy (CRS-H) ground robot programs. The award raises the maximum value on the company's existing Indefinite Delivery, Indefinite Quantity (IDIQ) contract to $88 million, covering maintenance, parts and overall sustainment support for the entire FLIR unmanned ground systems family of small, medium and large robots used by the Army.

FLIR Systems announced it has received an additional $30.1 million contract from the U.S. Army for sustainment efforts tied in part to the service's Man Transportable Robotic System Increment II (MTRS Inc. II) and Common Robotic System-Heavy (CRS-H) ground robot programs.

Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a leading National Security Solutions provider, recently announced that Juniper Networks has awarded the company a second Cybersecurity Maturity Model Certification (CMMC) Advisory Services contract. Kratos will update their existing System Security Plan (SSP) to meet the CMMC Level 3, National Institute of Standards and Technology (NIST) SP 800-171 and DFARS clause 252.204-7012 compliance requirements using Juniper solutions.

The CMMC is a unified security standard and a certification process developed by the U.S. Department of Defense (DoD) to protect the security of Federal Contract Information (FCI) and Controlled Unclassified Information (CUI) within the Defense Industrial Base (DIB).

The SSP captures the security requirements of a system, describes the implementation state of security controls within the system and identifies responsibilities and expected behaviors of all individuals who interact with the system. As such, it is a critical CMMC requirement. The SSP will include a mapping of security controls to NIST SP 800-171 and CMMC security controls. Also included in the award is a Plan of Action & Milestones (POA&M) that will include existing gaps, as identified during the previously completed CMMC Gap Assessment, performed by Kratos.

Draganfly Inc. (OTCQB: DFLYF) (CSE: DFLY.CNQ), an award-winning, industry-leading drone solutions and systems developer, recently announced that its Vital Intelligence technology, originally developed for drones and now made available on devices like laptops, tablets and smartphones, has been selected by The 517 Group to design and deliver its Vital Intelligence technology to its hospitality and entertainment focused enterprises.

The 517 Group is a hospitality and entertainment service focused company based out of Tennessee that specializes in operations, brand management, marketing, leadership development, supply chain oversight, strategic alignment and operational best practices. They serve as an operator and brand consultant to senior leadership in multiple organizations ranging from independent restaurants, large suppliers supporting national brands, as well as large multi-unit restaurant chains, including franchised organizations.

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