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Global UAV starts to fly

Vancouver-based drone technology microcap GlobalGlobal UAV Technologies UAV Technologies (TSXV: UAV) has hit a C$2 million-per-annum revenue run rate in its latest quarter, continuing its growth momentum of the past 18 months.
Global UAV starts to fly Global UAV starts to fly Global UAV starts to fly Global UAV starts to fly Global UAV starts to fly

Staff reporter

CEO Michael Burns said the 65% year-on-year increase in 2018 Q1 revenue to C$537,153 was buttressed by contributions from its High Eye Aerial Imaging and Pioneer Aerial Surveys businesses.

"We are pleased with the second quarter revenue amounts, which represent Global UAV's strongest quarter to date," he said.

Global UAV is not providing guidance on its revenue outlook.

The company, which had a market capitalisation this week of about C$8.5 million, has described the unmanned aerial vehicle market as the "most dynamic and rapidly growing sector in the aerospace industry". The infrastructure, agriculture, military, transport, mining and public safety market segments constituted a potential US$109 billion UAV marketplace.

"Each industry sector holds vast opportunities," the company says in its latest presentation.

Snaring a 5% market share would equate to more than $5 billion of annual revenue.

Global UAV lists Integra Gold, Hudbay Minerals, IAMGOLD, Newgold, Osisko Mining and SSR Mining among its mining clients.


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