January 23, 2023 (Investorideas.com Newswire) On January 10, 2023, Volatus Aerospace Corp. announced it had entered into an exclusive agreement to help manufacture, market, and distribute Airial Robotics’ next generation of unmanned aerial vehicles (UAVs) under the Volatus Aerospace brand and its subsidiaries. Read more to learn about the company’s recent moves, catalysts, and why one analyst called Volatus Aerospace “one to watch.”
On January 10, 2023, Volatus Aerospace Corp. (VOL:TSX; VLTTF:OTCQB) announced it had entered into an exclusive agreement to help manufacture, market, and distribute Airial Robotics’ next generation of Unmanned Aerial Vehicles (UAVs) under the Volatus Aerospace brand and its subsidiaries.
In light of this, Dean Attridge, Volatus Vice President of Solutions Engineering, said, “We are already seeing significant demand for Airial Robotics’ products. Our industry is at an inflection point and positioned for another period of explosive growth. Airial Robotics’ Gyrotrak passed our Vetted by Volatus evaluation for capability, safety, reliability, and suitability for night operations and flight beyond visual line of sight.”
Volatus is a drone solutions company located in Canada, the United States, Latin America, and Europe. The company serves civil, public safety, and defense markets. It offers imaging and inspection, security and surveillance, equipment sales and support, training, research and development, design, and manufacturing.
Volatus Receives Funding From Research Manitoba
Volatus Aerospace Corp. has also received funding from Research Manitoba and the Government of Manitoba that will significantly enhance its Science Experiential Aerial Research (SEAR) Program.
The funding will allow the SEAR Program to expand to participating school divisions, partnering high school students with industry to research solutions for sustainability issues affecting the community, in line with the company’s commitment to carbon neutrality.
Volatus Aerospace CEO Glen Lynch said that it’s “an exciting project on so many levels.”
Drone Sector Expected To Reach US$58 Billion by 2026
As an increase in military spending gains bipartisan support in the US due to growing military threats from Russia and China, it’s likely that companies that deal in the manufacture of arms and weapons will see an increase in spending. According to two Grand View Research“the global commercial drone market size was estimated at US$13.4 billion in 2020 and was expected to reach US$20.8 billion in 2021.”
Now, the drone sector is growing at a CAGR of 17% and is expected to reach US$58 billion by 2026.
Fortune Business Insights explained this growth, saying, “The global commercial drone market is projected to grow from US$8.15 billion in 2022 to $47.38 billion by 2029, at a CAGR of 28.58% in the forecast period.”
Volatus shared a couple of upcoming catalysts with Streetwise Reports. Volatus Aerospace introduced new defense technology at the end of December 2022 and is looking ahead with aggressive expansion in the United States in February.
The company previously acquired Syracuse-based Empire Drone Company LLC. in November last year. With a leading stock in the drone industry, Volatus is pointing its focus towards commercializing its technologies. It’s led by a team of experts with a combined experience of over 120 years.
Volatus has also announced that it has signed a contract to perform monthly, recurring inspections to detect fugitive methane leaks, in 14 water treatment facilities across the northwest of England, through its UK subsidiary, iRed Ltd.
This furthers the Company’s mission for sustainability and is a “very strategic win,” according to CEO Glen Lynch. He expects this work to “generate new opportunities in that sector in the UK.”
Echelon Capital Markets analyst Rob Goff believes Volatus is “one to watch,” referencing “heightened military product sales” as a clear reason for the company’s growth last year, noting that the company is “delivering intelligence, surveillance and reconnaissance (ISR) drones for organizations working in support of Ukraine.”
Ownership and Share Structure
Management owns 54.24% of shares. CEO Glen Lynch owns 26.62% of shares, while Chairman of the Board Ian McDougall owns 27%. It has 113.9 million outstanding shares.
Volatus, based in Ontario, has a market cap of CA$30 million, and it trades in a 52-week range of CA$0.27 and CA$0.89.
1) Lauren Rickard wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. Those members of their household own securities of the following companies mentioned in the article: None. They or members of their household are paid by the following companies mentioned in this article: None.
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