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The ongoing global semiconductor chip shortage and supply chain disruptions have impacted most industries, and the drone industry is no exception. However, governments worldwide have been initiating favorable measures, and companies have been ramping up production to meet the growing demand for chips. In addition, the rising adoption of drones in the agriculture, media and entertainment, oil and gas, insurance, and construction industries is driving the drone market’s growth. Furthermore, the development of customized and technologically advanced drone variants is expected to further propel the growth of the market for drones in the coming months. Indeed, according to Valuates Reports, the global drones market is expected to grow at a 3.9% CAGR between 2021 – 2027. As a result, both GPRO and UAVS should benefit.
GPRO stock has gained 9.7% in price over the past month versus UAVS’ negative returns. Also, GPRO’s 26.9% gains year-to-date compare with UAVS’ negative returns. Moreover, GPRO is the clear winner with 30.1% gains versus UAVS’ negative returns in terms of their past nine months’ performance.
