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What to Know About the Growing Drone Market

Updated: Mar 30, 2023

Lenore Elle Hawkins | Feb. 24, 2023

As we pass the one-year anniversary of the Ukraine invasion, this war will likely be known as one of the major catalysts for growth in the drone market. Just last week, Anton Gerashchenko, an adviser to Ukraine's minister of internal affairs, told Newsweek, “this war is a war of drones, they are the super weapon here."

Add on the acceleration in Artificial Intelligence (AI) and growing legislative support, and we are looking at a drone market set to take off. Here's what you need to know about the growing drone market, and the ways to invest in it.

What, When and Where of Drones

A drone commonly refers to any remotely piloted aircraft (RPA) of various forms and differing degrees of autonomy, under the control of a human pilot or with the ability to perform fully autonomous flights. These devices can be small enough to fit in the palm of your hand or as large as a traditional aircraft and are controlled remotely with a smartphone app or dedicated controls, most of which make heavy use of AI. We have been using drones in the military since World War I when Orville Wright and Charles Kettering developed the Kettering Bug, the world’s first self-flying aerial torpedo.

While the war in Ukraine is making drones increasingly known for their role in modern warfare, they are used in everything from studying remote areas, including other planets, to assisting law enforcement, from moviemaking to search and recovery efforts during disasters such as in the aftermath of the earthquakes Turkey or the recent floods in Kentucky.

Source: Nasdaq


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