Volatus Aerospace Secures Major Drone Inspection Contract
Volatus Aerospace Corp. has entered into a critically important three-year agreement potentially worth up to $60 million, aimed at delivering drone inspection services and comprehensive reporting for Transmission and Distribution (T&D) towers.
Expanding Operations in the U.S. Power Sector
This partnership with a prominent U.S. power utility marks a significant expansion of VolatusS T&D inspection operations across the united States. The company will utilize drone technology to gather and analyze data, providing detailed reporting services as part of the contract.
Financial Outlook and Market Position
The anticipated profit margins from this contract are consistent with Volatus’s historical performance in this service area. This agreement positions electric utilities as one of the company’s primary sectors, alongside oil and gas.
Strategic Advantages in Regulatory Compliance
As regulations evolve to include beyond visual line of sight and autonomous operations, Volatus’s proficiency in obtaining regulatory approvals and its established history in aerial intelligence and extensive linear inspections will enhance its competitive edge in the market.
Timely execution and Seasonal Considerations
“The timing of these contracts is notably significant,” stated glen Lynch, CEO of Volatus Aerospace. “The first quarter is usually a slower period for us due to winter conditions in Canada and the northern U.S. However, these contracts are set in regions that will allow us to commence operations early in Q1 of 2024, generating substantial revenue during a typically quiet season for drone services.”
Growth Projections for 2024
“Over the past year,we have proven our capability to scale efficiently,delivering considerable value to our clients,” remarked Rob Walker,COO of Volatus Aerospace. “In 2023, we are on track to inspect more than 10,000 T&D structures for various utility companies. Starting in january 2024, we will expand our operations to the West Coast, with expectations to inspect around 25,000 structures across North America, effectively more than doubling our volume from this year. This growth is attributed to the expansion of our existing contracts and increased operational capacity.”
