There could be substantial growth ahead for drone technology. According to Research and Markets, the global drone market was valued at $18.1 billion in 2018. By 2027, it could be worth as much as $88.57 billion. “The demand for drones across North-America has been increasing on the back of growing drone production and wide application of drones in the commercial sector. Furthermore, favorable government initiatives regarding the advancements in drone technology is key to the growth for North America drone market, over the forecast period,” they added. That’s a strong catalyst for companies such as Plymouth Rock Technologies Inc. (CSE:PRT)(OTC:PLRTF), Kratos Defense & Security Systems Inc. (NASDAQ:KTOS),Ambarella Inc. (NASDAQ:AMBA), Boeing Co. (NYSE:BA), and Lockheed Martin Corporation (NYSE:LMT).
In addition, drones are a significant help in detecting potential threats, an essential need in this day and age. In fact, according to Plymouth Rock Technologies, there have been about 18,800 deaths due to mass shootings, suicide bombings, and other attacks in 2020. That’s in addition to the 2,608 terrorist attacks since the 1970s, they added. With drones, there’s hope numbers like those will only decrease.