PALM BEACH, Fla., Dec. 05, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - Drone technology usage has been and is being utilized in various industries worldwide. In fact, drones are the most popular land surveying equipment that can improve the efficiency and flexibility of field surveys, particularly topographic surveys, through aerial photography and mapping by capturing data via video and GNSS. The rising urbanization and industrialization in developing countries is a key factor fueling the growth of the land survey equipment market. The governments in developing countries such as India, Peru, and China are planning different smart city projects, which would need surveying and inspection activities before the actual construction process. Further, major cities in the US, India, and China are rapidly expanding, and several new infrastructures are being constructed in different parts of these countries. Several plans for the development of smart cities are rolled out, and land survey equipment plays a critical role in surveying development sites in the planning stage. A report from The Insight Partners said that the Land Survey Equipment market is expected to Reach US$ 12.56 Billion by 2028 reach US$ 12,568.4 million by 2031 from US$ 8,068.0 million in 2022, at a CAGR of 7.7% during the forecast period. The governments in developing countries are planning smart city projects that need to be surveyed and inspected thoroughly before beginning the construction process. Therefore, increasing initiatives for smart city development are driving the need for land survey equipment. Active Companies in the markets today include: ZenaTech, Inc. (NASDAQ: ZENA), AgEagle Aerial Systems Inc. (NYSE: UAVS), ParaZero Technologies Ltd. (NASDAQ: PRZO), Ondas Holdings Inc. (NASDAQ: ONDS), EHang Holdings Limited (NASDAQ: EH).
The report said: “Technological Innovations: The increasing demand for land survey equipment in construction, renewable energy, mining, oil & gas, forestry, precision farming, disaster management, and transportation industries, as well as in scientific and geological research and utilities, drives the market. Digitalization: Digitalization in land surveying helps in precise measurements with high efficiency and data integration at lower land survey costs. Distances and angles can be measured precisely and quickly, and the data can be combined using software to construct a number of land surveys.”
ZenaTech Inc.’s (NASDAQ:ZENA) Plans to Disrupt the Land Survey Industry with Drones, Signs LOI for Land Survey Company Acquisition – ZenaTech (“ZenaTech”) (FSE: 49Q), a technology company specializing in AI (Artificial Intelligence) drone solutions and enterprise SaaS (Software-as-a-Service) solutions, announces today that it has signed an LOI (Letter of Intent) to acquire its first land survey company, part of a larger roll-up strategy to disrupt the land survey industry by accelerating the use of drones for speed, accuracy and innovation benefits. The signed agreement is with a US company, which will form the base of the DaaS (Drone-as-a-Service) business in the Southeast US region.
“This is a crucial step in the establishment of our DaaS strategy, which includes the disruption of an established land survey business ecosystem. We have a unique opportunity to significantly disrupt the land survey business through drone technologies and the DaaS business model. This is analogous to the way Uber disrupted the taxi industry. We believe these acquisitions have the potential to add significant revenue and power the roll-out of our DaaS business in the US and globally,” said CEO Shaun Passley, Ph.D.
The US Surveying and Mapping Services industry is estimated at $10.3 billion according to Business Research Insights, growing at least 3% annually. Remotely piloted and autonomous 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. Aerial data across expansive terrains can be gathered and analyzed in a matter of hours instead of the typical weeks or months required using traditional methods.
Accurate land surveys are essential for the planning, design, and execution of roads, bridges, and building projects for cities, commercial, and residential projects, and are required for legal purposes. ZenaTech is focused on smaller land survey engineering firms with an overseeing licensed Surveyor-in-Charge, a valuable designation that takes years to achieve. The use of drones requires FAA licensing and drone expertise, hardware, and software that ZenaDrone will bring to the transaction.
ZenaTech’s DaaS business model allows governments, farmers, oil and gas companies, environmental firms, etc. to utilize a complete drone solution for a specific application— i.e., land surveying, crop management, inspection, safety, or compliance application, and purchase it on a pay-as-you-go basis rather than having to buy the entire drone hardware and software solution. This business model provides cost-effective access to the enhanced productivity benefits and AI capabilities offered by drone technology to optimize time, improve precision, and eliminate outdated or manual processes. ZenaDrone’s multifunction AI drones will be offered in the DaaS business model both directly by the company and through its business partners. — CONTINUED… Read this full release for ZENA by visiting: https://www.financialnewsmedia.com/news-zena/
Other recent developments in the technology industry include:
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 announced the appointment of L.B. Day to the Company’s Board of Directors effective November 17, 2024.
AgEagle CEO Bill Irby commented, “We are thrilled to announce the appointment of L.B. Day to our Board of Directors. His unparalleled expertise in strategic planning, marketing, and executive team development will be invaluable as we continue to drive innovation and growth. L.B.’s track record speaks for itself, and we are confident that his insights and leadership will help us navigate the challenges ahead and seize new opportunities as we continue to build long-term shareholder value.”
ParaZero Technologies Ltd. (NASDAQ: PRZO) recently announced the successful delivery of a special drone safety system project for a leading Fortune 500 automotive manufacturer (“the Customer”) as part of the Customer's proprietary drone program.
The project included the design, development and delivery of a custom ParaZero SafeAir™ system specifically engineered to meet exceptionally demanding flight conditions and specifications unique to the Customer’s proprietary aircraft program. This initiative commenced at the design stage, ensuring optimized and seamless integration of the safety system onto the aircraft and addressing its unique flight envelope and operational characteristics. This delivery highlights ParaZero’s ability to provide advanced safety solutions for diverse aerial platforms, including multirotor, single rotor, fixed-wing, VTOL, manned and unmanned vehicles, and urban air mobility aircraft.
Ondas Holdings Inc. (NASDAQ: ONDS) announced recently that its Ondas Autonomous Systems Inc. (“OAS”) business unit's Airobotics subsidiary has received a purchase order for its Iron Drone Raider counter-uncrewed aircraft system (C-UAS) from an Israeli defense company. This order, which was placed as part of an integration process between the companies, aims to expand the distribution of the system for additional military and homeland security governmental end users.
“We are building our presence in the defense sector by introducing the Iron Drone Raider platform to important players in the market with capabilities that are tailored for military deployments,” said Eric Brock, Chairman and CEO of Ondas. “We believe this system offers best-in-class specifications and will help protect borders and critical infrastructure in countries worldwide.”
EHang Holdings Limited (NASDAQ: EH) recently announced that it has signed a cooperation framework agreement (“Agreement”) with Zhejiang Sunriver Culture and Tourism Co., Ltd. (“Sunriver”, 600576.SH), a China A-share listed company, to explore an industrial model that integrates low-altitude economy with cultural tourism in China. Under the Agreement, Sunriver plans to purchase 50 units of EH216-S or similar pilotless passenger-carrying aircraft from EHang for its cultural tourism projects based on market development needs. Sunriver has placed a purchase order for 5 units of EH216-S as the first batch for aerial tourism use cases. The remaining aircraft will be gradually deployed in the tourism attractions under the Sunriver.
Sunriver, with its parent company Sunriver Holding Group, have invested and operated over 40 renowned tourist attractions in China, including Bailong Elevator and Huanglong Cave in Zhangjiajie City, Hunan Province, Phoenix Ancient Town and Mang Mountain in Hunan Province, Bifeng Canyon in Ya'an City, Sichuan Province, Qiyun Mountain in Anhui Province, and Danxia Mountain in Guangdong Province.
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