Red Cat Holdings, Inc., one of the industry’s largest holding companies, its subsidiary Fat Shark, and drone startup Skypersonic joined forces in early January to fly Skypersonic's Skycopter — from over one thousand miles away.
The Skycopter used Fat Shark's new technology, dubbed "Shark Byte," as well as Skypersonic’s remote pilot software system to complete the mission, which the startups’ founders believe will bring new possibilities in the arena of consumer-level drones.
"The ability to control the flight of a drone from thousands of miles away should accelerate the commercial adoption of drone technology, expand the number of business services that can be provided by drones, and lower travel and training costs for companies deploying drones." said Jeff Thompson, CEO of Red Cat.
The Companies’ Partnership
The flight was not merely an opportunity for the two companies to break a barrier — it was an opportunity for Fat Shark to show off what they can do. For Giuseppe Santangelo, founder and CEO of Skypersonic, Fat Shark’s Shark Byte technology was just what his company needed.
"We are upgrading our entire fleet to the new Shark Byte digital system," said Santangelo. "Global customers like Exelon rely on our drones to safely reach places that are difficult, expensive and dangerous to inspect by manned teams. Shark Byte… will enable our customers to take their inspections and security applications to a higher level of performance and safety."
The Drone Market
The numbers also suggest that now is a good time to get into the drone business. According to the drone business website Drone Industry Insights’s Drone Market Report 2020, the global drone market is growing at a compounded annual rate of over 13% — a stellar growth for a market that has not yet reached its full potential.
This growth means that while the drone market was worth $22.5 billion in 2020, it is anticipated to reach a valuation of $42.8 billion by 2025.
The two biggest continents for the growth of the drone market are the United States (US) and Asia, so not only are the companies in the right time for drone development, they’re in the right place for business as well.
In light of their success, founder and chief technology officer of Fat Shark, Greg French, expressed optimism about the future.
"We were excited to work with Skypersonic to test the limits of our new digital technology," he said. “[Their] technology enabled the pilot to fly faster and more skillfully than expected."
With their burgeoning partnership, the companies will continue to break down barriers.
About the Author
Elijah Labby is a graduate of the National Journalism Center. He has previously written for Broadband Breakfast, a technology and internet policy website.