New ETF Sees Dollars in Drones
IFLY invests in global equities related to the drone industry, including manufacturers and suppliers. Drone technology has risen to the forefront of public awareness in the last few years.
Although the first drone was built and used as early as 2002 by the CIA, the entire industry has been relatively unknown to the public.
Even since the beginning of drone usage, they largely have been the stuff of science fiction. News coverage on drones predominantly has been on recreational use by consumers and enthusiasts.
As drone technology enters a cycle of ballooning growth, it is finding applications across many industries such as agriculture, construction and utilities for purposes that were nearly unimaginable 10 years ago.
In the construction industry, for example, the current value of labor and services provided by drones is estimated to be $127.3 billion.
To help you get an idea of the big names that are actively participating in the drone business, here are some noteworthy events that took place this year:
Qualcomm (QCOM) has launched the Snapdragon Flight Drone; Google (GOOGL) plans to use solar-powered drones to spread Wi-Fi; and Amazon (AMZN) plans to use drones to speed up delivery of consumer packages.
As a new and attractive industry, drones also have some weaknesses, including a lack of thorough regulation and big players to push the industry forward.
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