Drone safety systems company ParaZero says its merger with Delta Drone South Africa (DDSA) will enable the firm to “aggressively expand into the Australian market, initially targeting the mining and agriculture industries”.
“ParaZero remains focused on our merger with DDSA, which will naturally align with our drone safety technology and significantly expand our operations and revenue into new geographic markets, industries and product segments,” said CEO Eden Attias.
ParaZero posted $297,000 in revenues in Q3, up 95 per cent on the June quarter but down 28.3 percent on the same period last year. Total revenues of $656,000 for the 2020 calendar year are 32 per cent lower than 2019 year-to-date figures.
The company has cut costs to cope with the impact of the pandemic, including reducing its workforce, placing staff on unpaid leave and reducing operational expenses where possible.
Staff costs are expected to reduce even further over the coming quarter as the company finalises the merger with DDSA, the company said in a statement.
Attias said: “We will now be able to manage all drone operations including aerial surveying and mapping, security and surveillance, blast monitoring and fragment analysis, data management, as well as ensuring compliance with all regulatory, insurance and maintenance requirements. We will take care of everything in the air, so that engineers at our enterprise customers can focus on what’s on the ground.
“The global commercial drone market, which is estimated to hit $13 billion by next year, offers significant opportunities for our drone parachute safety technology, and we have recently launched a new SafeAir product line specifically designed for heavy-lift commercial drones. As Delta Drone International, we will be able to leverage this product line in the provision of drone services to these industries.
“We continue to be actively involved with industry on the development of drone safety regulation and our safety solutions have now been successful in more than 110 US FAA waiver applications to date. We are the benchmark for very low altitude deployments and, to date, the only company whose safety systems have been used in successful waiver applications for flight over unprotected people.”