Parazero Limited (ASX: PRZ) provides industrial automation solutions. With worldwide offerings, the Company designs and develops autonomous drone parachute systems for commercial drone safety and civilian applications.
On 10 January 2019, the company has briefed in its latest release the launch of its latest autonomous drone safety system called the SafeAir Phantom. This will target the consumer-based recreational and professional drone market. ParaZero’s SafeAir Phantom provides an affordable and easily accessible solution for consumers, ensuring the safety of their drone and reducing the risk of accidents and lawsuits.
The highlights of this launch are as follows:
- ParaZero expands into the lucrative consumer-based camera-drone market with its latest autonomous drone safety system, SafeAir Phantom.
- SafeAir Phantom to be sold in Australia and Europe through distribution partners, and available in the United States through retailers, distributors and online via Amazon.
- Initial inventory available now, with mass manufacturing taking place in the coming months.
- SafeAir Phantom expands ParaZero’s market opportunity beyond commercial drone users, into the consumer-based recreational and professional camera drone market.
- 550 units have been already sold to distributors and retailers worldwide.
The system continuously monitors and analyses the drone’s flight, activating safety measures if a critical failure is detected. Safety measures include stopping the rotors and deploying the parachute to bring the drone safely to the ground. The parachute system is fully implemented in less than a fraction of a second and can be repacked by the operator and used again. The product is compatible with the Phantom 4 drone, which accounts for a significant portion of the global drone market.
A new product compatible with DJI’s Mavic model will be available soon. The Phantom and the Mavic are two of the world’s best-selling consumer drones.
Commenting on the launch of SafeAir Phantom, ParaZero’s CEO, Eden Attias has said that the launch of this new product is a significant milestone for the company. It will expand the Company into the global mass consumer market and will provide the consumer-based recreational and professional drone market with a commercial grade safety solution. Safety is critical in driving the growth of the drone market, and company’s new product will play a vital role in that growth.
ParaZero’s SafeAir Phantom is compatible with one of the world’s biggest selling drone products, already giving company the access to a large population of drone users globally. Firm anticipates strong demand from the consumer drone sector – everyone from recreational users to those who film special events & weddings. It will shortly be enhanced by a further product compatible with another of the world’s biggest selling consumer drone products, further expanding company’s global mass consumer market opportunity.
In the meantime, the share price of the company has fallen by 48.85 percent in the past six months. The shares traded flat today closing the day’s trading session at $0.095 with a market capitalization of circa $8.34 Mn as on 10 January 2019. The stock offers negative YTD return of 13.64% till date to investors.
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