PALM BEACH, Fla., Sept. 21, 2021 /PRNewswire/ — The autonomous BVLOS drones market is gaining traction, as the applications of these autonomous BVLOS drones are increasing, in tandem with the increasing need for enhancing efficiency and industrial productivity. Currently, the military segment has the largest market share in the autonomous BVLOS drones market. Autonomous drones are being used for various purposes in the military, like aerial warfare and ISR applications. The revenues have been higher from the military segment, as militaries mostly use large UAVs with higher unit prices. In addition to the existing models of autonomous BVLOS drones, new drones are also being produced. The use of autonomous BVLOS drones was mainly limited to the military in the past. However, presently, these drones are being vigorously adopted for commercial purposes, for aerial mapping, surveying, and inspection purposes over long distances. In addition, the increasing demand for last-mile drone delivery is boosting the autonomous BVLOS drones market in the civil and commercial sector, which is expected to propel the segment to register a higher CAGR during the forecast period. According to report from ResearchAndMarkets The autonomous BVLOS drones market is projected to register a CAGR of more than 15% through 2025. Active stocks in the markets this week include Plymouth Rock Technologies Inc. (OTCQB: PLRTF) (CSE: PRT), Ambarella, Inc. (NASDAQ: AMBA), Raytheon Technologies (NYSE: RTX), General Dynamics (NYSE: GD), L3Harris Technologies (NYSE: LHX).
The report also said that “North America will Continue to Dominate the Autonomous BVLOS Drones Market through 2025. In 2019, North America held the largest market share in the autonomous BVLOS drones market. The demand from the United States has been the prime reason for the large share of the market. In the United States, autonomous BVLOS drones are being used for many applications. While most of the demand is from the military, progress is being made toward integrating small drones into the airspace and obtaining the necessary regulatory approval of BVLOS flights from the FAA. In 2019, the FAA gave permissions to a handful of companies taking part in its Unmanned Aircraft Systems (UAS) IPP, or the Integrated Pilot Program, to make autonomous BVLOS flights using the onboard detect-and-avoid (DAA) systems… such developments are expected to further boost the market growth during the forecast period, thereby, helping the region witness the highest growth rate in the market (through 2025).”
Plymouth Rock Technologies Inc. (CSE: PRT.CNQ) (OTCQB: PLRTF) BREAKING NEWS: PLYMOUTH ROCK TECHNOLOGIES ANNOUNCES CONTRACT FOR UK AEROSPACE BVLOS TESTING – Plymouth Rock Technologies (“Plymouth Rock”, “PRT”, or the “Company”), a leader in developing detection apparatus and unmanned technologies, is pleased to announce the sale of custom drones and training services to Cranfield University in collaboration with the UK Civil Aviation Authority (CAA) National Beyond Visual Line of Sight Experimentation Corridor (NBEC).
The goal of the NBEC is to provide a safe, managed environment to test and develop concepts, principles, and the related technologies to enable flying unmanned aircraft systems beyond visual line of sight (BVLOS) in non-segregated airspace.
“From the outset, the differentiator of the PRT UAS operation was to create a product portfolio designed and engineered for autonomous and BVLOS flight as the primary function, while having a fully manual piloting capability as a secondary function” stated Ben Pickard, VP of UAS Development at PRT. “Our UAS platforms are currently being used in demanding BVLOS missions with critical value humanitarian and civilian missions which include the UN, Oil & Gas and Environmental agencies. We are honoured to be supplying products and services into this program and further to share any data from operational deployments that will assist not only the CAA in the UK, but also the FAA in the United States” concluded Pickard.
“Being chosen by Cranfield University to be the supplier of UAS and training services for this globally recognized program is a positive endorsement of the Company and its products,” stated Carl Cagliarini, Chief Strategy Officer of PRT. “The requirement for Unmanned Traffic Management (UTM) capabilities to ensure flight safety systems, electronic redundancy and constant communication must be rigorously tested if drone technologies are ever to be deployed over urban environments for commercial operations. This program takes our proven technologies to a higher level by assessing UAS capabilities towards the goal of introducing drones into non-segregated airspace. This will require drones to sense, communicate and work with manned aircraft across general aviation and military operations” concluded Cagliarini. CONTINUED… Read this and more news for PRT at: https://www.plyrotech.com/news/
Other recent developments in the tech industry include:
Ambarella, Inc. (NASDAQ: AMBA), an AI vision silicon company, recently announced financial results for its second quarter of fiscal year 2022 ended July 31, 2021. Ambarella reports gross margin, net income (loss) and earnings (losses) per share in accordance with GAAP and, additionally, on a non-GAAP basis. Non-GAAP financial information excludes the impact of stock-based compensation adjusted for the associated tax impact, which includes the effect of any benefits or shortfalls recognized. A reconciliation of the GAAP to non-GAAP gross margin, net income (loss) and earnings (losses) per share for the periods presented, as well as a description of the items excluded from the non-GAAP calculations, is included in the financial statements portion of this press release.
Total cash, cash equivalents and marketable debt securities on hand at the end of the second quarter of fiscal 2022 was $449.2 million, compared with $435.5 million at the end of the prior quarter and $410.7 million at the end of the same quarter a year ago.
General Dynamics (NYSE: GD) recently reported second-quarter 2021 net earnings of $737 million on revenue of $9.2 billion. Diluted earnings per share (EPS) were $2.61. EPS grew 19.7% on a 17.9% increase in net earnings, as company-wide operating margin expanded to 10.4%, up 140 basis points from the year-ago quarter. Backlog of $89.2 billion was up 8% from the year-ago quarter.
“The company performed impressively this quarter, delivering very strong cash flow, improved margins and significant Aerospace order activity,” said Phebe N. Novakovic, chairman and chief executive officer. “Emerging from the pandemic, we remain focused on operating discipline and wise deployment of capital.” Net cash provided by operating activities in the quarter totaled $1.1 billion. Free cash flow from operations, defined as net cash provided by operating activities, less capital expenditures, was $943 million.
L3Harris Technologies (NYSE:LHX) has recently accomplished a key milestone in the development of a missile tracking satellite prototype for the Space Development Agency (SDA). The completed Preliminary Design Review (PDR) defines the spacecraft’s design baseline for delivery to SDA and allows the program to move to the next stage of delivering ground-breaking new capabilities at speed. When completed, the satellites will provide the capability to detect and track ballistic and hypersonic missiles via overhead persistent infrared sensing from low earth orbit.
“We’ve worked closely with SDA to ensure our design taps proven technology that can scale to address the changing mission,” said Ed Zoiss, President of L3Harris Space and Airborne Systems. “We understand the threat and are focused on delivery.” L3Harris received the tracking layer prototype award in 2020 to develop and integrate an end-to-end satellite system under a $193 million firm fixed-price contract. Total period of performance runs through 2025 and covers four space vehicle launches.
Collins Aerospace, a Raytheon Technologies (NYSE:RTX), has recently signed a definitive agreement to acquire privately held FlightAware, a leading digital aviation company providing global flight tracking solutions, predictive technology, analytics and decision-making tools.
Closure of the acquisition is subject to the completion of customary conditions and regulatory approvals. Following closing, FlightAware will join Collins’ Information Management Services portfolio within the company’s Avionics strategic business unit. Financial terms of the agreement were not disclosed.
“Global connectivity now shapes and impacts every segment of aviation. FlightAware is the recognized leader in data collection, analytics and customer experience, which will help Collins unlock the full power of the connected ecosystem for our customers,” said Dave Nieuwsma, Collins Aerospace’s head of Avionics. “FlightAware’s flight tracking and data platform, the largest in the world, has the potential to deliver new capabilities and innovations across our entire business.”
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 has been compensated twenty five hundred dollars for news coverage of the current press releases issued by Plymouth Rock Technologies 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.
Media Contact email: [email protected]