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Global Firefighting Drone Market Forecasted to Reach $2.76 Billion by 2030 as Demand Skyrockets

Palm Beach, FL – August 23, 2023 – FinancialNewsMedia.com News Commentary – The Firefighting Drone Market has been growing consistently since after the pandemic, and is projected to have substantial growth in the coming years. Firefighting drones can be remotely controlled and can carry firefighting equipment such as foam dispensers or water cannons. The major purpose of designing firefighting drones was to control fires in areas that are inaccessible to firefighters or fire trucks like dense forests and high-rise buildings. These drones are capable to monitor and capture scenes in instances where firefighters and fire trucks cannot reach them. Several benefits associated with firefighting drones to prevent fire damages is expected to drive the market growth over the forecast period. Growing instances of fire-related accidents in the oil and gas industry are majorly driving the demand for firefighters drones. In this industry, drones are being deployed for several applications such as inspection of offshore platforms, leak detection in pipelines, refining equipment, emergency response, and material handling.  As per Cognitive Market Research’s latest published report, the Global Firefighting Drone market size was $1.31 Billion in 2022 and it is forecasted to reach $2.76 Billion by 2030. Firefighting Drone Industry’s Compound Annual Growth Rate will be 9.8% from 2023 to 2030.  The report said: “In recent years, firefighting drones are used to fight forest fires. These drones can fly immediately to the location and map the affected area. During a forest fire, a firefighter drone gathers information about hitting hot spots with the help of thermal sensors and provides the information to firefighters. Footage or scenes captured by a firefighter drone is converted into a 3D map that allows civil authorities to determine the extent of the damage after the incident and verify damage claims by insurance companies.”  Active companies in the markets this week include: Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO), Lockheed Martin (NYSE: LMT), Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), Boeing (NYSE: BA), NVIDIA Corporation (NASDAQ: NVDA).

 

Cognitive Market Research continued: “In addition, firefighter drones can carry many fire extinguishing components such as foam dispensers or water cannons and spread them in an affected location to prevent further fire spread. Thus, several benefits of these drones are flourishing the market growth during the assessment period.  In 2022, North America dominated the firefighting drone market and gained the largest market share of 40.5%. This growth is due to the Federal Aviation Administration’s (FAA) supporting initiatives and high government spending on the development of drones in the region. In the U.S., 43 states have active drone programs, and the highest number of drones found in Texas at 28, in 2022 which is expected to further propel the market growth in coming years.”

 

Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) BREAKING NEWS: Draganfly Awarded Canadian Provincial Wildfire Services Contract – Draganfly’s technology and drone pilot crews will detect and map wildfires and hotspots for Canadian provincial government to help mitigate the impact of wildfires  – Draganfly Inc. (FSE: 3U8) (“Draganfly” or the “Company”), an award-winning, industry-leading drone solution, and systems developer is pleased to announce it will be providing drone pilot crews and drone technology to the a Canadian Provincial Government to assist with firefighting mitigation, preparedness, response, and recovery efforts.

 

Draganfly’s advanced drone technology and highly trained personnel will aid emergency services in their mission to protect lives, property, infrastructure, and ecosystems.

 

Draganfly will help conduct night-time missions, identify fire line breaches, and detect hidden hot spots using thermal imaging technology. Draganfly’s services will enhance the firefighting operations, which protect critical infrastructure, towns, valuable natural resources, and help mitigate air quality hazards from the devastating impact of these wildfires.

 

“Draganfly is humbled to have been selected, and we are committed to our pilot crews and drone technology being a key component in helping ensure wildfire services has the tools needed to combat devastating wildfires,” said Cameron Chell, President, and CEO of Draganfly. “By deploying Draganfly’s highly trained drone pilot crews and technology, we aim to enhance the situational awareness of firefighting operations to save time, money, and lives.”    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:

 

NVIDIA Corporation (NASDAQ: NVDA) recently announced a broad range of frameworks, resources and services for developers and companies to accelerate the adoption of Universal Scene Description, known as OpenUSD.

 

NVIDIA is advancing the development of OpenUSD — a 3D framework enabling interoperability between software tools and data types for the building of virtual worlds — through NVIDIA Omniverse™ and a new portfolio of technologies and cloud application programming interfaces (APIs) — including ChatUSD and RunUSD — along with a new NVIDIA OpenUSD Developer Program.

 

Boeing [NYSE: BA] recently announced that it has ferried an MD-90 airplane to the site where it will be modified to test the Transonic Truss-Braced Wing (TTBW) configuration as part of NASA’s Sustainable Flight Demonstrator project.

 

As Boeing, NASA and community leaders gathered at the company’s facility today to recognize the milestone in development of the experimental X-66A aircraft, Boeing released photos of the jet’s journey from Victorville, Calif., to Palmdale.

 

The X-66A is NASA’s first experimental plane focused on helping the U.S. achieve its goal of net-zero aviation greenhouse gas emissions. Modification will begin soon and ground and flight testing is expected to begin in 2028.

 

Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a Technology Company in the Defense, National Security and Global Markets, recently reported its second quarter 2023 financial results. For the second quarter of 2023, Kratos reported Revenues of $256.9 million, Operating Income of $6.7 million, Net Loss of $2.7 million, Adjusted EBITDA of $21.6 million and a consolidated book to bill ratio of 1.1 to 1.0.

 

Included in second quarter 2023 Net Loss and Operating Income is non-cash stock compensation expense of $6.0 million and Company-funded Research and Development (R&D) expense of $9.9 million, primarily reflecting significant ongoing development efforts being made, including in our Space and Satellite business to develop our virtual, software-based OpenSpace command & control (C2), telemetry tracking & control (TT&C) and other ground system solutions. The second quarter 2023 Net Loss includes a $2.3 million loss attributable to a non-controlling interest, which includes a $2.0 million adjustment recorded to reflect the estimated increase in the value of the redeemable non-controlling interest to the estimated redemption amount by Kratos based upon current forecasted financial performance.

 

The Space Development Agency (SDA) recently awarded Lockheed Martin (NYSE: LMT) a firm-fixed price agreement valued at approximately $816 million to build 36 Tranche 2 Transport Layer (T2TL) Beta satellites. T2TL is part of an overarching plan to strengthen deterrence with more resilient space architectures for beyond line-of-sight (BLOS) targeting, data transport, and advanced missile detection and tracking.

 

The T2TL Beta variant satellites will work in tandem with SDA’s Tranche 1 and Tranche 2 networks. They will advance the initial warfighting capability with targeted technology enhancements, mission-focused payload configurations, and increased integration.

 

DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNM expects to be compensated forty six hundred dollars for news coverage of the current press releases issued by Draganfly Inc. by a non-affiliated third party.

 

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

 

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

 

Contact Information:

Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757

 

SOURCE Financialnewsmedia.com

The post Global Firefighting Drone Market Forecasted to Reach $2.76 Billion by 2030 as Demand Skyrockets appeared first on Financial News Media.

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