AgEagle Aerial Systems Inc. (NYSE:UAVS) saw its stock rise by 2% following the announcement of two additional eBee X drone sales in South Korea. This sale pushes the total number of AgEagle’s eBee drones operating in the country to over 100 units.
The eBee X, a leading fixed-wing drone built for precise geospatial data gathering, is widely used for tasks such as surveying, mapping, and photogrammetry. This achievement marks a significant expansion of AgEagle’s footprint in South Korea and strengthens its position in the broader Asia-Pacific drone market.
“Reaching the milestone of our 100th eBee drone sale in South Korea is a testament to the increasing global demand for our innovative aerial technology and highlights the versatility of our platform across diverse industries and regions,” said Bill Irby, CEO of AgEagle.
The company referenced research from Grandview Research, which forecasts a 15% compound annual growth rate (CAGR) for the Asia-Pacific consumer drone market through 2030, with an estimated market value of $4.1 billion. AgEagle’s growing presence in South Korea positions it well to capitalize on the rising regional demand for drone-based solutions.
The eBee X drone supports multiple uses, including precision farming, environmental monitoring, city planning, disaster management, and emerging defense and security applications. It boasts a 90-minute flight endurance and can cover close to 2,500 acres at an altitude of 400 feet.