Featured NewsGeneral NewsHow to fund a drone business
09 November 2022
By Wade Rasmussen, President, Amerifund
Previously drones have been reserved only for military use, but now drones are more commonplace in both consumer use and commercial applications. They provide incredible coverage for sporting events, concerts, and films, and are heavily invested in by tech giants like Amazon and Uber for potential delivery applications. Drones are also utilized for monitoring of crops and animal herds, and for search and rescue.
Drones are an effective tool in the construction industry for both designers and engineers. The possibilities for applications within multiple industries seem infinite. There is no doubt drones will continue to change the face of engineering and the wider business world in which we operate.
In the infographic, “Drone Jobs in 2022 Infographic” from Drone Industry Insights dated June 20, 2022, the infographic shows the United States accounts for more than double the quantity of drone-related jobs than the number two country, Germany.
Increased Safety Solutions
Drone applications and their potential use grow every day. From an engineering perspective, many of their capabilities sit within inspection and audit work, and we are finding they improve safety immensely. Some engineers' work can be quite dangerous. The less time an engineer needs to be in a confined space, using ropes, harnesses, and pulleys on a cliff face, building, or a bridge, the better. A drone can manage the dangerous work an engineer may normally engage in without human injury, with more accuracy and in less time with minimal risk.
Other than the obvious safety benefits, drones free up an engineer’s time to think strategically, and solve problems from different perspectives. Traditional plans and surveys delivered on-the-ground with crews can only provide so much. Once the drone pilot gets a drone up into the sky, the options open up. For example, the drone could create a 3D model daily for a site, thus producing accurate up-to-date drawings and models for sites that are constantly changing.
Strict Regulations Needed
The rules of the sky are strict and professional drone operation is not something that can be delivered by just anyone. Even personal drone use is subject to protocols to help ensure community safety. Understanding the regulations and how to operate within them requires training. It is important the operators educate themselves about a drone’s limitations, as well as its potential.
Regulations regarding professional drone use for all industries are important. Regulations such as limiting the number of drones that can be flown simultaneously by one operator, and maintaining line of site with the UAV, would need to be modified or removed to allow companies such as Uber and Amazon to utilize this type of technology. This would open the doors for other professional drone services to be controlled remotely.
Impacting Bottom Line
Drone usage can have a positive impact on an organization’s bottom line. Drones remove delays and deliver results at a comparatively low fiscal rate, resulting in more cost-effective project outcomes that increase profit margins. And while human expertise is a fundamental requirement to precisely operating drones, the technology and additional AI still mitigates risk without increasing the cost to the client.
An obvious and potentially immediate economic impact comes in the form of job creation. As professional drone usage increases, more operators, technicians and drone designers will be required to deliver projects in this potentially billion-dollar growth industry.
The level and detail of data captured through drone usage is far superior to what we could extrapolate in the past. But with this volume of data comes the requirement for expert people to create programs and workflows that help review and cleanse the data to ensure robust results.
The Future Is Bright
Drone technologies continue to thrive and play an increasingly prominent role in government, commercial, organizational operations, and consumers’ lives. Many businesses are eagerly embracing these high-tech changes that can result in long-term cost reductions, increased safety, and improved profit margins. Keeping ahead of the curve and understanding the new technologies will not be easy. Luckily, there are many experts who are already immersed in the field and can help us navigate this fast-paced, ever-changing technological landscape.
Our customers are the heart and soul of Amerifund. We’re committed to helping your business reach its goals. We work hard to provide you with customized funding solutions to fit your business’ needs. We’ve been in business for more than 26 years, and we understand the challenges you may face, because we’ve faced them, too. We’re relational, reliable, and service-driven. If you’re looking for business financing, let’s work together!
If you are interested in financing your drone project, consider equipment financing. Amerifund has partnered with drone distributors and manufactures.