The size of the military drone market is projected to reach $21.93 billion by 2029, up from $9.30 billion in 2020, at a CAGR of 12.56% during that period. The market is projected to witness significant growth in the defense sector due to military drones’ high surveillance capabilities. It is driven by factors such as battle damage management, combat operations, and global delivery and transportation services. Growing demand to provide real-time images is also boosting UAV’s battle damage management applications.
With increasing government spending as the strongest driver, the growing number of border disputes between countries over who owns what land and who controls the space between them is also propelling the advancement of the sector.
The companies that can quickly ramp up the manufacturing of drones have by far the strongest potential to win government contracts and market share in defense. This market offers a lot of potential to investors as the application of military drones is expanding daily, with a new function of military equipment delivery having been added most recently.
Epazz, Inc. (OTC: EPAZ), a mission-critical provider of drone technology and blockchain mobile apps, is one of the winners of this growth trend as it is prioritizing the development of ZenaDrone 1000, the company's flagship drone. Equipped with machine learning systems, multispectral sensors, and AI technology, the ZenaDrone 1000 is specifically designed for use in the military, as well as the oil and gas and agriculture industries. One of the key features that makes it adaptable across many industries is that the ZenaDrone 1000 is able to use the data captured from its cameras to create 3D interactive environment maps.
Over the past six months, the company has been taking steps to promote the use of the product by the US military. On March 23, Epazz announced ZenaDrone was presented in front of various branches of the U.S. military. The military’s response has led to additional flight demonstrations with the U.S. Army.
ZenaDrone continues to rack up wins with the US government.
Amidst the military opportunities, ZenaDrone was also granted a utility patent by the US Government for its innovative AI-predictive drone Smart Charging Pad. It is a game-changer in the drone charging industry, as it offers a more affordable solution for charging drones that weigh over 250 pounds at a significantly lower price point than competitors, all while incorporating top-of-the line AI features that separate this Smart Charging Pad.
Earlier in the year, Epazz had submitted Phase 1 SBIR proposals to the U.S. government, with a goal of moving forward with significant government contracts worth up to $15 million over the next three years, if the company is selected in the process. The banning of Chinese-made drones within the US government has opened up significant opportunities for Epazz. If ZenaDrone becomes a part of the program, it will have to be able to sell its drones to US allies.
On March 28, however, EPAZ announced that ZenaDrone is ready to move to Technology Readiness Level 7. Technology readiness levels (TRLs) are methods for estimating the maturity of technologies during the acquisition phase of the SBIR program. TLRs are measured on a scale of 1 to 9, with 9 being the most mature technology. Being at a 7, ZenaDrone is now qualified to submit a Phase II SBIR grant for external funding of this cargo delivery solution. Phase II SBIR grants are generally up to $1.2 million for a two-year period and are a nondilutive source of funding. This will be the second direct to Phase II project for Zenadrone.
CEO Shaun Passley, Ph.D., said, "We are excited to see ZenaDrone 1000 the subject of so much attention in multiple military branches. The Air Force clearly sees value in this platform and is pushing the envelope of new testing to find out the extent of its capabilities. We are anxious to receive critical feedback from the Air Force as we transition to mass production operations. We are currently in the process of evaluating a number of suitable sites while balancing the potential commercial uses. We also hope shareholders see how we are trying to move the technology forward through the use of nondilutive funding sources."
Recently, ZenaDrone received a letter of support from the U.S. Air Force to use ZenaDrone 1000 for drone cargo delivery, which includes blood transport. The company is invited to work with the U.S. Air Force at an overseas base to test the ZenaDrone 1000 platform under battlefield conditions, and it will be assigned a team from the base to conduct the test.
On April 11, the company said it will be expanding its facilities in Dubai, UAE, to increase production of ZenaDrone 1000 for signed pilot customers. In 2022, ZenaDrone produced 10 ZenaDrone 1000, and this year’s goal is to produce over 20 drones per month, with the capacity to produce 40 in the same facility.
ZenaDrone is in the process of qualifying for Green UAS certification, which is a new US government compliance program and a crucial step for becoming a government provider of drone technology. Trading at $0.010 per share, this company deserves investor attention.
Investors hoping to benefit from the surging military drone market should pay close attention to Epazz and its advances as a supplier of military drones to various branches of the US military. The company has significant revenue potential coming from military contracts.
As Epazz continues to innovate and promote its product, EPAZ could offer a great way for investors to get into the growing military drone market. The ZenaDrone's potential for big revenue, along with the expanding U.S. military drone segment, make Epazz an attractive penny stock for any investor seeking a promising opportunity.
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