As police in the United Kingdom search for information on the reported drone incident that managed to shut down one of Europe’s busiest airports for 36 hours last week, a Dubai-based firm claims that investment in drone-style technology is set to surge next year, as the devices begin to be applied to many more aspects of modern life.

Authorities at Gatwick airport are offering a £50,000 ($63,000) reward for information about the alleged drone attack, which saw the airport forced to cancel or divert around 1,000 flights last Wednesday (December 19), during the hectic Christmas period. (Read more here).

Such incidents are increasingly becoming common place around the world and in 2016 a drone caused the closure of Dubai International Airport for over an hour.

"It's very difficult to estimate how much it costs because I don't know how you start. Do you include the inconvenience to travellers? Do you include the missed business meetings? I mean it's going to be many thousands, if not millions of dollars, that's for sure," Paul Griffiths, CEO of Dubai Airports, said at the time.

Despite the recent negative headlines, Dubai-based Falcon Eye Drones this week released their predictions for the industry, forecasting a surge in drone usage and investment next year.

Here is a summary of the Falcon Drone report’s findings, which was based on industry insights and client feedback:

• While the private sector will see increased usage, government-backed initiatives, such as the Dubai flying taxi service in 2020, will continue to dominate the sector. The public sector will represent 70 percent of activity, with the private sector accounting for the remaining 30 percent, the report predicted.

• Falcon Eye Drones predicts the number of drone flights regionally will increase by at least 150 percent, with the number of drone technology users tripling over the course of the next year.

• The main usage will remain inspections and surveying, followed by aerial filming and photography. Usage will continue to increase in the construction sector, where developers can use drones to monitor progress on sites. Other applications will include emergency services, farming, logistics and cartography.

• The company predicts that investment in the sector will increase by at least 100 percent in 2019 but it believes the second phase of investment in drones will be in applying the data collected by the flying machines. “Safely operating drones and collecting data is just the tip of an iceberg. What really matters is what we can do with this data, how fast we can process it and what use we can make out of the information we collect. Artificial intelligence is becoming an integral part of today’s drone sector and to further evolve in this area, we need to continue investing in its development. In 2019 we will be advancing our AI capabilities in parallel with the reinforcement of the quality and sophistication of hardware and software of UAS (unmanned aircraft systems) in the Middle East,” Rabih Bou Rashid, managing director of Falcon Eye Drones, said in a press release.

(Read the full report here).

Further reading:
• Gatwick airport drone disruption 'irresponsible' - UK PM May's spokesman
• Dubai airspace closure by drone could cost millions of dollars - CEO
• Drone start-ups take off in MENA
• Drone flights in Gulf to rise by 150% in 2019
• Saudi Arabia finalizing drone regulation 
• Falcon Eye drones record 10,000 flights in the Middle East
• Abu Dhabi Municipality reviews drone use framework
• Firm to introduce home delivery via self-flying drones in UAE 

(Writing by Shane McGinley; Editing by Michael Fahy)
(shane.mcginley@refinitiv.com)

Our Standards: The Thomson Reuters Trust Principles

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2018