Has the evolution of the commercial drone industry created opportunities or cultivated misconceptions?

August 16, 2021

For a long time, excitement and potential drove the commercial drone industry in a way that could literally be calculated. Countless reports talked up the billions of dollars that commercial drone technology represented, but whether it was the $82 billion estimated by AUVSI or the $127 billion that PwC predicted, the hype associated with drones was mostly irrelevant to the actual users that wanted to adopt the technology to create value. Plenty have done just that in very defined ways over the past few years, but just as the drone industry was in the midst of fully transitioning from hype to reality, COVID-19 changed the paradigm.

As literal social distancing tools, the pandemic highlighted how drones could be utilized in ways that were never envisioned but nonetheless created real value. However, those new opportunities have been complicated by misconceptions that predate the pandemic. Additionally, the regulatory challenges with legally taking a drone into the sky that users have to sort through are just as relevant now as they were in the midst of that hype cycle. What has this evolution of the commercial drone industry meant to the people that are working to define the value of the technology in the present and future?

That very topic is a focus of numerous conference sessions at the upcoming Commercial UAV Expo, where professionals from across the space will come together for what is now recognized as the world's largest show for professionals integrating commercial drone technology. In preparation of the event, we connected with numerous experts across the space to capture their insights around how expectations associated with the technology will impact the market in the short and long term.

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About AeroVironment, Inc. (AV)

AeroVironment (NASDAQ: AVAV) provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity that deliver more actionable intelligence so you can Proceed with Certainty. Headquartered in Virginia, AeroVironment is a global leader in intelligent, multi-domain robotic systems and serves defense, government and commercial customers. For more information, visit www.avinc.com.


Safe Harbor Statement

Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.


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Contact:
AeroVironment, Inc.
Makayla Thomas
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Mark Boyer
For AeroVironment, Inc.
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