Sky’s the limit: drone opportunities set to soar
Tech
Special Report: Drone usage in Australia is set to soar to a staggering 60 million flights per year by 2043 thanks to forecast 20% annual growth over the next two decades.
Rapidly evolving technology is delivering opportunities for savvy companies to cash in on a sector transforming industries from logistics to agriculture.
For switched-on investors, there are already key players on the ASX providing cutting-edge solutions across a range of sectors including market darling Droneshield (ASX:DRO), as well as RocketDNA (ASX:RKT), Electro Optic Systems (ASX:EOS) and Orbital Corp (ASX:OEC).
Meanwhile among emerging unlisted companies, local manufacturer Carbonix is pushing the boundaries of uncrewed aerial systems (UAS) by offering long-range precision-data-capture solutions at scale.
But while drones have long been used for aerial inspections in mining, agriculture and property surveying, the biggest opportunity lies in their ability to revolutionise transport and logistics.
Airservices Australia forecasts the bulk of this growth will come from deliveries of food, medical supplies, and even Jetsons-style transport of passengers, including patients.
Sydney-based platform Aerologix is making waves by connecting clients with a network of drone pilots for a variety of services across Australia and New Zealand. Led by co-founder and CEO Tom Caska, the ‘Uber for drones’ has ambitious plans to expand globally into Asia, the Americas and Europe.
Ahead of presenting at this year’s major international conference for innovators, SXSW Sydney, Caska has highlighted the sharp rise in demand for drone services, noting that Aerologix has experienced exponential growth in recent months.
“We’ve expanded our network of 38,000 CASA-licensed pilots and now deliver 10,000 flights a week, up from just 1,000 per month last year,” he said.
“The applications for drones are vast, from inspecting infrastructure like power lines and industrial equipment to shark spotting and mapping terrain using LiDAR (Light Detection and Ranging).”
But Caska said the biggest surge would come from game-changing urban logistics applications. Drone deliveries are expected to account for 46 million flights per year in Australia by 2043 – more than 75% of total drone activity.
“As the market grows at an annual rate of 31%, we’ll see drones delivering everything from groceries to medical supplies, making deliveries faster, cheaper, and more accessible,” he said.
“Drone-based passenger transport is also set to rise, with projections of nearly 1 million passenger flights annually, and around 100,000 patient transports that can avoid traffic jams and reach hospitals more quickly.”
But for this time-saving and life-saving potential to be realised, legislation and public support must evolve alongside the tech.
“The regulatory framework will need to keep pace with this growth to ensure safety and efficiency,” Caska said.
“It’s also crucial that we earn the social licence to operate, making sure communities are comfortable with drones becoming a regular part of urban life by understanding the safety guardrails around their use and, of course, their benefits to our lives.”
This article was developed in collaboration with Aerologix, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.