Drones have been around for seemingly forever, but as the technology gets more refined, battery life gets longer and regulations become friendlier, they've gone from geek to chic. The potential boons to the global economy are tremendous, and seemingly every sector can benefit -- including those currently out of reach.
Anthony Foxx, the U.S. Secretary of Transportation, has shown himself to be in favor of using drones in as-yet-unrealized ways.
"The potential benefits of these breakthrough technologies are remarkable -- according to one study, the expansion of commercial drones alone could add $82 billion in economic value over the next 10 years and by 2025 employ an additional 100,000 Americans," Foxx wrote in a June 2016 post on the White House's official blog.
All areas of the economy could benefit from having a technology that can go into areas difficult or expensive for human beings to navigate. And as an investor, it's important to take advantage of that.
"Whenever there are new technologies that people begin to understand the vast impact on the global economy, investors want to get into it," said Andrew Chanin, CEO of PureFunds, which has $900 million in assets under management. "Drones have been around for decades, but we're starting to see the convergence of other industries that are far reaching, so it warrants attention."
PureFunds has an ETF, the Drone Economy Strategy ETF (IFLY) , which takes advantage of this trend. Chanin said it invests in companies that are pure play trends on the space such as French-based Parrot, which makes consumer-focused drones; AeroVironment (AVAV) , which has government contracts; and a number of other companies linked to the drone space.
Source: What Do Flying Cars and Drones Have in Common? More Than You Think
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