Aerovironment: The Future of Drones
Until now people have looked at drones in one of two ways — either as a toy buzzing around a park or as a weapon, dealing destruction from the sky, notes Tony Daltorio, technology and growth stock expert and editor at Investors Alley.
The good news is that, finally, a space in the middle—commercial applications, is beginning to grow. For example, drones have tremendous potential to become a crucial part of other technological advancements.
Drones can gather all sorts of data for farmers on the state of their crop, the dryness of the soil, or whether something must be done to control pests. This data will help farmers grow more food to help feed a growing world population, while saving money on water, fertilizer and pesticides.
Aerovironment (AVAV), which manufactures drones for both the commercial and military markets. It was founded in 1971 by Paul Maccready, the inventor of the Gossamer Condor, the first human-powered aircraft capable of controlled and sustained flight.
It is the largest supplier of drones to the Pentagon with drones like the Raven (the most widely-used unmanned aircraft in the world today), the Puma AE, the Wasp AE, the Snipe and the Switchblade. The U.S. government accounts for 71% of the company’s revenues.
On the commercial side, Aerovironment offers the Quantix (packed with AI) for use in aerial inspections, mapping, etc.