CYBERJAYA: Aerodyne Group sees Malaysia’s drone industry growing by at least 30 per cent this year from $500 million in 2018 on the back of positive acceptance and growing market interest in recent years.
Founder and chief executive officer Kamarul A Muhamed said the growth prospects of the drone market in Malaysia are substantial as people need more time to fully understand the benefits of drone technology and how it can impact their daily life and business routine.
“In 2018, we estimate about $500 million in business value, and 10 years from now the compound annual growth rate (CAGR) will be over 50 per cent. So in a couple of years this could be several billion dollars of potential value that can be created in Malaysia,” he told Bernama on the sidelines of the MyDrone X Conference here today.
Citing an example, he said drone use in agriculture has grown by 2,000 per cent compared to three years ago.
“It is a tremendous growth. In the past we were at the testing stage of the technology, and now I see some in the industry have taken steps to go beyond trials and provide actual solutions that really disrupt their business,” he added.
On safety and privacy concerns, Kamarul said people used to be afraid of things that they did not understand.
“But in commercial operation it is actually a very safe and also very disruptive technology,” he said.
Aerodyne, a home-grown company with 25 global offices, is one of the world’s top five drone specialists. Its artificial intelligence-driven drones are also equipped with Internet of Things (IoT) solutions. – Bernama
