Industry Overview - The global drone surveying market is projected to grow at a CAGR of 19.3% from 2023 to 2033, driven by increased demand across various industries due to benefits such as lower costs, reduced time, and improved results compared to traditional surveying methods [1][2] - The demand for drone services has expanded beyond agriculture and public administration to include infrastructure development, mining, energy, education, and transportation [2] Company Developments - ZenaTech, Inc. has completed the acquisition of Wallace Surveying Corporation, marking its second acquisition in the Southeast region as part of a strategy to enhance its Drone as a Service (DaaS) business [2][3] - The acquisition of Wallace Surveying Corporation aims to innovate land surveys at scale by leveraging advanced drone data collection and management [4] - ZenaTech's DaaS model allows customers to access drone services on a subscription or pay-per-use basis, reducing upfront costs and eliminating the need for maintenance and operation of drones [5][6] Technological Advancements - The drone surveying industry is expected to witness continuous technological advancements, leading to an expansion of service offerings and improved accuracy in data collection [2] - Drones equipped with sensors and cameras, including LiDAR and GPS systems, are revolutionizing the land survey industry by gathering aerial data quickly, significantly reducing the time required for traditional methods [8] Financial Performance - ZenaTech reported a 7% increase in revenue for 2024, reaching $1.96 million compared to $1.82 million in 2023, while assets increased over 110% to $34.6 million [11] - The company has maintained low liabilities, with a debt to total capitalization ratio of 31%, indicating a stable financial position [11] Market Opportunities - The DaaS business model offers scalability and convenience for various sectors, including government agencies, real estate developers, and energy companies, by providing access to advanced drone technology without the need for specialized training [6][7] - The ongoing demand for accurate land surveys is essential for urban planning and infrastructure projects, creating significant opportunities for companies in the drone surveying market [8]
Drone Surveying Industry Witnessing Continuous Technological Advancements Generating Rising Revenue Opportunity