PALM BEACH, Fla., April 03, 2025 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - The drone surveying market is witnessing increased demand for its services across different industries. The survey done by drones has multiple benefits in comparison to the traditional way of surveys such as lower cost, reduced time, and improved end results. According to Fact.MR, a market research and competitive intelligence provider, the global drone surveying market is expected to grow at a CAGR of 19.3% during the forecast period of 2023 to 2033. The report said; “The drone covers a larger area within less amount of time and money for a survey if compared with the traditional or conventional way of surveys. Since the data is captured and generated with actual imagery, it also brings better transparency in the end result. All these benefits have resulted in increased demand from governments and real estate development companies for drone surveying services. The drone surveying service providers are entering into partnerships with companies and the government to carry out surveys on their behalf for the planning and development of urban areas and townships. The image and data collected from the drone surveys are more accurate and can be converted into meaningful output as per the requirements. This helps governments and infrastructure development companies in different stages of planning in township development, urban planning, and land surveys. The continuous advancement of technology in the drone market has led to increased demand for their products and services. The services or task performed by a drone has significantly improved in the last few years which has ultimately resulted in improved demand.” Active Companies in the drone industry today include ZenaTech, Inc. (NASDAQ: ZENA), Ondas Holdings Inc. (NASDAQ: ONDS), AgEagle Aerial Systems Inc. (NYSE: UAVS), Unusual Machines, Inc. (NYSE American: UMAC), AeroVironment, Inc. (NASDAQ: AVAV).
Fact.MR concluded; “The industries catered to by drones have also increased significantly. Earlier most of the demand for drones was from agriculture and public administration, now it has increased to infrastructure development, mining, energy, education, and transportation among others. Now a mining company can easily calculate/measure the area covered for the mining, or the stockpile volume with the help of drone surveys. It is expected that in the coming years, the drone surveying industry will witness continuous technological advancement, resulting in the expansion of service offerings.”
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 industry include:
Ondas Holdings Inc. (NASDAQ: ONDS), a leading provider of private industrial wireless networks and commercial drone and automated data solutions, recently announced that it has secured a $3.2 million purchase order from a governmental entity in the United Arab Emirates (UAE). The new order supports the continued buildout of urban autonomous drone infrastructure in the UAE and expands the existing Optimus drone network, which is operated by the local government as part of its broader Safe and Smart City initiatives.
"We are witnessing the network effect of the Optimus drone network in UAE," said Eric Brock, Chairman and CEO of Ondas Holdings. "The effectiveness of the Optimus System and its ability to reduce response times of emergency units have been proven during our operations there, and this order further validates the system's value. We are proud to support the UAE's leadership in Drone as First Responder (DFR) technology, which is also developing in the US. We believe that our Optimus system is the most mature and robust platform in the market and certified for such critical security operations. We look forward to replicating this success in other cities around the world."
AgEagle Aerial Systems Inc. (NYSE: UAVS), a leading provider of best-in-class unmanned aerial systems (UAS), sensors and software solutions for customers worldwide in the commercial and government verticals, recently provided a corporate update and announces its financial results for the year ended December 31, 2024.
AgEagle CEO Bill Irby commented, “2024 was a defining year for AgEagle. We secured three of the largest orders in our history while implementing significant strategic cost reductions that have strengthened our foundation for long-term sustainable growth. We assembled an exceptional leadership team with deep expertise in scaling technology companies, optimizing operations, and executing aggressive sales strategies. Combined with a leaner expense structure, record demand, and a growing product portfolio, we believe we are well positioned to expand our customer base, secure new partnerships, and leverage our innovative drone technologies to capitalize on emerging opportunities in the burgeoning global UAS market.
AeroVironment, Inc. (NASDAQ: AVAV) recently announced that its stockholders have approved the issuance of AV common stock in connection with the Company’s pending acquisition of BlueHalo LLC ("BlueHalo") at a Special Meeting of Stockholders held earlier today.
"Stockholder approval marks an important milestone as we move forward with the acquisition of BlueHalo and accelerate our transformation into the leading next-generation defense technology company," said Wahid Nawabi, AV chairman, president, and chief executive officer. "Together, AV and BlueHalo will drive agile innovation and deliver integrated, all-domain solutions designed to redefine the future of defense and address the most important priorities and needs of our nation and allies around the globe. We thank stockholders for their continued support and look forward to closing this transaction and unlocking new opportunities for growth and value creation."
Unusual Machines, Inc. (NYSE American: UMAC), a drone and drone components manufacturer, recently announced it filed its Form 10-K with the U.S. Securities and Exchange Commission (the "SEC") for the fiscal year ended December 31, 2024 and provided the following letter to its shareholders from CEO Allan Evans.
Dear Shareholders, This shareholder letter follows the completion of our fiscal year 2024. This is our first year being public. It has been an excellent fourth quarter and an incredible year. We continue to see great interest in the company and receive questions from shareholders. We would like to take this opportunity to provide context and deeper insights into our operations and what these represent for Unusual Machines' future.
Unusual Machines revenue for the fourth quarter revenue was over $2.0 million which represents a sequentially quarter over quarter increase of approximately 31%. This is our best revenue quarter of all time (again) and was done while improving gross margins slightly to 28%. With the launch of our Blue Framework products, approximately 15% of our Q4 revenue was from enterprise sales. Our total revenue of $5.65M for FY2024 exceeded our target of $5M for 2024 by 13%. This growth was achieved without customer concentration as no single customer represented more than 5% of our total revenue for 2024.
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