PALM BEACH, Fla., April 03, 2025 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - The US Drone Surveying Market has been the Global Market Leader in recent years and is expected to continue for years to come. The US has been the market leader in the drone industry since the start of the drone revolution. Across industries, companies have employed drones for their day-to-day operations. Industries such as pharmaceuticals, mining, real estate, and agriculture are some of the prominent end-use industries for the drone surveying market. According to an industry report, the US drone surveying market is expected to witness double-digit market growth in the forecast period and is expected to reach a valuation of US$ 2540.0 million by the end of 2033. The construction and mining industry is expected to be the market leader in the demand for drone surveying services. Increased spending from governments and rising demand for residential and commercial spaces would add a significantly high pace to the overall drone surveying demand in the US. The report said; “Why Land Survey Commands Largest Market Share? The drone land survey as a service is a common one among all industries. The demand for land surveys arises from sectors such as construction, mining, energy, real estate, public administration, and agriculture among others. That is why land survey services contribute most to the drone survey company’s revenue. The drone land survey holds around 53% of the total market share in the drone survey industry. With the help of drone land surveys, companies/institutions get their desired datasets which ultimately help them in making informed decisions. For example, a land survey for infrastructure development can help companies and planning and development by providing required 3D maps or images. It is expected that the land survey market to remain the top revenue contributor for drone survey service providers.” Active Companies in the drone industry today include ZenaTech, Inc. (NASDAQ: ZENA), Archer Aviation Inc. (NYSE: ACHR), Palantir Technologies Inc. (NASDAQ: PLTR), EHang (NASDAQ: EH), Red Cat Holdings, Inc. (NASDAQ: RCAT).
Fact.MR continued: “Construction Industry to Contribute Most to the Drone Surveying Service Demand. The spending on infrastructural development has been all-time high across the major economies of the world. The market players are taking the help of drone service providers in different stages of planning and development. Drone surveying companies provide services for the use of town planning, land record digitalization, urban city development, and other development-related services. With the help of drones, companies are able to cover increased areas (acres of land/area) within no time, and with precise and accurate data. These collected images and data can be easily converted into meaningful output, which can be useful in the planning and development of urban towns. Drone surveying has been very useful for the construction industry by providing important insights with minimal cost and improved efficiency.”
ZenaTech (NASDAQ:ZENA) Closes Second Southeast Region Acquisition, Wallace Surveying Corporation, Set to Become the Third Acquisition to Power Its National Drone as a Service (DaaS) Business - ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) ("ZenaTech"), a technology company specializing in AI (Artificial Intelligence) drone, Drone-as-a-Service (DaaS), enterprise SaaS and Quantum Computing solutions, announces that it has closed the acquisition of Wallace Surveying Corporation (“Wallace”) of West Palm Beach, Florida, a well-established land survey company with thirty years of experience. Wallace provides construction and land development surveys delivering accurate and reliable data that supports project planning and design for developers, contractors, engineers, and architect customers.
This is ZenaTech’s second acquisition in the Southeast region as part of a larger national roll-up strategy to disrupt the land survey industry by accelerating the use of drones for speed and accuracy benefits. The acquisition also further powers the Company’s national Drone as a Service, or DaaS, business as the third US acquisition set to provide access to the ZenaDrone 1000 and the IQ series. These multifunction drones are set to provide a variety of services including power line inspections, precision agriculture, law enforcement, and search and rescue for natural disasters such as hurricanes.
“Wallace Surveying Corporation is well respected in the South Florida business community with longstanding existing customer relationships. Its team brings considerable expertise toward our goal of innovating land surveys at scale leveraging advanced drone data collection, data management, mapping and digital deliverables. This acquisition is another step towards our vision to create a national DaaS business, bringing AI drone efficiencies and precision to a variety of legacy verticals and manual tasks,” said CEO Shaun Passley, Ph.D.
ZenaTech’s Drones as a Service or DaaS model is similar to Software as a Service (SaaS), but instead of providing software solutions over the Internet, the company will offer ZenaDrone solutions and services on a subscription or pay-per-use basis. Customers can conveniently access drones for eliminating manual or time-consuming tasks achieving more precision, such as for surveying, inspections, security and law enforcement, or farming precision agriculture applications, without having to buy, operate, or maintain the drones themselves.
The DaaS business model offers customers such as government agencies, real estate developers, construction firms, farmers or energy companies reduced upfront costs as there is no need to purchase expensive drones, as well as convenience, as there is no need to manage maintenance and operation. The model also offers scalability to use more often or less often based on business needs and enables access to advanced drone technology sensors or attachments like spraying, without the need for specialized training.
Accurate land surveys are essential for the planning, designing, and executing of roads, bridges, and building projects for cities, commercial, and residential projects, and are required for legal purposes. Remotely piloted drones with an array of sensors and cameras, LiDAR (Light Detection and Ranging), and GPS systems for capturing high-resolution pictures and data are revolutionizing the land survey industry gathering aerial data across expansive terrains in a matter of hours instead of weeks or months using more traditional photogrammetry methods. Continued… Read this full release by visiting: https://www.financialnewsmedia.com/news-zena/.
In Additional ZENA News: ZenaTech’s (NASDAQ:ZENA) 2024 Financial Results Shows Revenue and Assets Increase.
2024 Financial Results:
- As of December 31, 2024, and consistent with its recent 6K filing, ZenaTech’s 2024 full-year revenue increased by 7% to $1.96 million as compared to $1.82 million for the full year of 2023 (all figures in $Cdn. dollars)
- Comprehensive loss for the period was ($4.04 million) versus ($.251 million) last year due to increased one-time costs of listing on Nasdaq Capital Market from lawyers, accountants, auditors, financial advisor (investment banker) and other going public expenses
- Assets have increased over 110% to $34.6 million at year-end 2024, up from $16.4 million at year-end 2023. This is due to the company’s acquisition of three patents, and a total of four software companies. In addition, the company has signed multiple Letters of Intent (LOIs) as part of an acquisition strategy that will tremendously increase future revenue
- Liabilities continue to be low, having increased $3.7 million to $12.8 million at year-end 2024 from $9.1 million at year-end 2023
- The Company’s ratio of debt to total capitalization is 31%, which is well within the accepted standard of less than 50%
- ZenaTech’s existing cash and funds available through lines of credit will be sufficient to finance the next 12 months of the company’s operations. We anticipate that cash generated internally, and lines of credit will be sufficient to fund our drone development and acquisitions
- Additional information is available from ZenaTech’s 6K filing on the SEC EDGAR website. The company will be filing its 20F by the due date, which is April 30, 2024, for Private Foreign Issuers. Continued… Read this full release by visiting: https://www.zenatech.com/newsroom/.
Other recent developments in the drone/aviation industries include:
Archer Aviation Inc. (NYSE: ACHR) and Palantir Technologies Inc. (NASDAQ: PLTR) recently announced a partnership today to build the AI foundation for the future of next-gen aviation technologies. For decades, the aviation industry has made only incremental improvements, constrained by legacy technology and a dominant duopoly in commercial aviation. With the rapid acceleration of AI, as well as breakthroughs in distributed electric propulsion, the industry is now poised for change.
The two plan to leverage Palantir Foundry and AIP to accelerate the scaling of Archer’s aircraft manufacturing capabilities at its facilities in Georgia and Silicon Valley, with the intent to advance the development of software solutions to drive innovation across the entire value chain.
This would include the development of next-gen software utilizing AI to improve a range of aviation systems, including air traffic control, movement control and route planning, with the goal of improving efficiency, safety and affordability across the industry.
Archer and Palantir will formalize this partnership later today during a signing ceremony between Palantir co-founder and CEO, Alex Karp, and Archer founder and CEO, Adam Goldstein, at Palantir’s AIPCon.
EHang (NASDAQ: EH), the world’s leading Urban Air Mobility (UAM) technology platform company, recently announced that its wholly-owned subsidiary, Guangdong EHang General Aviation Co., Ltd. (“EHang General Aviation”), and its joint venture company in Hefei, Hefei HeYi Aviation Co., Ltd. (“HeYi Aviation”), have been granted the first batch of Air Operator Certificates (“OC”) for civil human-carrying pilotless aerial vehicles by the Civil Aviation Administration of China (“CAAC”).
This milestone officially marks the launch of China’s human-carrying flight era in the low-altitude economy, allowing citizens and consumers to purchase flight tickets for low-altitude tourism, urban sightseeing, and diverse commercial human-carrying flight services at related operation sites in Guangzhou and Hefei. In the future, operators will also gradually expand into more other scenarios such as urban commuting based on operational conditions legally and compliantly. The issuance of the first batch of OCs sets a new benchmark for the low-altitude economy and urban air mobility and further unleashing a more powerful vitality of the new-quality productive forces.
Red Cat Holdings, Inc. (NASDAQ: RCAT), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, recently reported its financial results for the 2024 Transition Period (as of December 31, 2024 and the eight months then ended) and provides a corporate update.
“Red Cat’s partnerships and global expansion strategy is already yielding strong results. Over the past few months, we’ve introduced the Black Widow and Edge 130 drones to key international markets, including the Middle East, Asia Pacific, and soon Latin America,” said Jeff Thompson, Red Cat CEO. “This momentum underscores growing global interest in our Family of Systems. The ongoing development of Black Widow for the U.S. Army’s SRR Program of Record, bolstered by AI partners like Palantir and Palladyne, we’re not only meeting immediate defense needs—we're ensuring our warfighters and allies are well equipped for rapidly-evolving battlefield.”
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