Periodic Reporting for period 1 - OneSkyConnect (Providing air traffic data for the drone revolution)
Berichtszeitraum: 2018-05-01 bis 2018-08-31
The main objective of the project is that our platform, MCTs and related network reach the adequate maturity to be competitive when entering the market. To achieve this, we need to get a deeper understanding of the target market segment, of our commercial production and of our development needs for the full-scale rollout.
A technology roadmap for requirements to complete the project was drawn out. We accomplished an evaluation of potential technical risk that might endanger the success of our product. This identification has allowed us to define a plan for risk mitigation, to be implemented and updated along the project life
Based on the results of the comprehensive market research that we conducted, we determined the customer needs, and also identified the countries that we should target for initial entry. The market study showed the existence global drone business which is estimated to reach €115 billion by 2020, while the global market for UTM could reach €538.2 million by 2018 with a projected growth level to almost €2 billion by 2025. A swot analysis was also carried out to position our company in the market segment. We have also identified the target users for initial commercialisation and also defined a commercialisation and exploitation plan.
The market study results were then used to make 5 year financial projections post commercialisation. OneSkyConnect (in the future: Involi.live) is expected to have significant positive impact on our financial performance, increasing annual revenue by 236%.
Based on the results of the comprehensive market research that we conducted, we determined the customer needs, and also identified the countries that we should target for initial entry. The market study showed the existence global drone business which is estimated to reach €115 billion by 2020, while the global market for UTM could reach €538.2 million by 2018 with a projected growth level to almost €2 billion by 2025. A swot analysis was also carried out to position our company in the market segment. We have also identified the target users for initial commercialisation and also defined a commercialisation and exploitation plan.
The market study results were then used to make 5 year financial projections post commercialisation. OneSkyConnect (in the future: Involi.live) is expected to have significant positive impact on our financial performance, increasing annual revenue by 236%.
We have gone beyond the state of art by providing a system that combines multiple technologies to provide a holistic platform with features ranging from traffic detection to automatic collision avoidance. Our system will have a fantastic social impact, especially in big cities. Safely integrating drones into the air traffic and enabling cities to become truly “smart cities” will improve greatly the quality of life of its inhabitants. In the next few years: ability to use drones for building inspection, emergency response (accidents, fires etc.), search and rescue especially in hazardous situations, traffic monitoring, surveillance, terrorist’s threats etc. Our system has already been used in the meaningful process of mapping various areas of Tanzania.