Drone Business Opportunities: An Entrepreneurial Analysis

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Entrepreneurship Development
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Table of Contents
Section: 1.........................................................................................................................................3
Introduction..................................................................................................................................3
Section: 2.........................................................................................................................................4
Opportunity formation.................................................................................................................4
Section: 3.........................................................................................................................................7
Opportunity development............................................................................................................7
Section: 4.......................................................................................................................................11
Conclusion.................................................................................................................................11
References......................................................................................................................................13
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Section: 1
Introduction
Entrepreneurship is the ability to initiate a business; it offers creative artefact, service or process.
The start-up can be defining all the activity which is full of creativity or extra effort for the
existing service or the introduction of new service and product. An owner of the start-up is a
creator or innovator who starts something new for their firm or their economic situation. An
Enterprise means for new creative ideas, the development of the new product through research or
brings improvement in the existing services. It helps them to grow and become the leading
company in the market if they implement their innovative ideas accurately. Drone market is
rapid increases; it is also known as unmanned aerial vehicles (UAVs). This idea will become the
most earning business if an entrepreneur will execute the ideas as the same. People are taking
interest in UAVs from the profitable point of view and business can take growth in a short
interval of time. Drone gets a different reputation in the market. Most people think that the drone
is a military aircraft or a toy. But after analysing the recent data, drone future will actually be
shaped the commercial applications. Since 2012, $1.5 Billion were spent on drone start-up which
enhances the market of drone or builds a new shape to the industry.
Drone is in various shape and size but the main element of this is sensors, microcontroller,
battery, motors. Implementation of these ideas takes time but it will give the best result if it
works on the expectation. The first stage is to understand innovation completely. Encourage their
team to build innovative ideas on drone business. Tell them don’t fear the change. Every new
thing brings change with them to accept it and follow the exact direction. Throw out the silly
excuses. Innovation will be entrepreneurship if it works over the expectation.
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Section: 2
Opportunity formation
The range of drone is about $1000 to more than $12000. This innovative idea expands the vast
area of opportunity. It is the product that people do not generally or in the daily but the
professionals or the one who really to work on this they know about the importance. The
entrepreneur must know all the activities and action done by the drone. They must aware about
are the marketing challenges they faced at the time of campaign or introducing this product in the
market. Drone market already having a leading market in the industry so a new innovator brings
with a unique idea which makes them different from the other drone industries. Opportunity is
the fast leading business; economic growth will extend as early as possible. As the demand says,
that commercial drone pilots are in popular. It requires quality training to the entire pilot. It also
increases the job opportunity in the country, Pilot must concern about the injury or accidents.
Opportunities offered by the drone market are fully embraced with the joint visualization and
passion, the outcome of this creation is successful as well (Andersson, 2016).
Figure 1 Organization Process
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Idea
ProductData
Build
(Faster)
Learn
(Faster)
Measure
(Faster)

Source-Author
Idea - Business of the drone is an idea of an entrepreneur. It understands all the opportunity and
the problem after that they initiate this at further step. When it goes to the next level it builds
very fast and removes the entire drawback which comes in a very initial stage?
Product - Drone is the product of this business and as discussed it varies in the shape and size.
The product will ready in the situation that it goes to the next step or level. It measures their
performance and takes advantage of their opportunity and tries to overcome the limitation as
well. Learn from every experience is the essential aspect of entrepreneurship.
Data - Business data evaluate the performance or analysing that business is going in the growth
direction or not. It is going in the leading area, make effort in the direction of better consistency
but if it is not going in the proper direction or it needs modification. Implement it and again the
cycle will continue. The idea for improving the new services in the existing business
Figure 2 Entrepreneurial Idea
Source: Author
An entrepreneurial idea comes from the problem when people identify the problem in their daily
life or in their professional life. Entrepreneurship understands the level of problems and starts
thinking about how to solve this problem or in the future people does not find any problem what
they face in their past (Weissbrod, 2019).
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Problem
OpportiunityIdea

Opportunity is the essential element because whenever business gets initiate it needs to be a goal
which comes from the opportunities. Every entrepreneur wants to be grown in a specific
industry. If they visualize that in this business there is a vast area of growth but they might be
facing some resistance in the path. If they have the capability to face that resistance they start
working.
Generating ideas is a continuous process until the life of business, for a start-up it requires the
good collection of ideas which helps them to the rapid growth of the business. Since every
business needs a good start after they can maintain their growth. It needs the idea of good
marketing skills and the quality of the product must be excellent. Sometime after concluding
these still businesses can’t take the expected growth because of their least involvement in the
society, the customer does not find uniqueness from others. Start-ups need to work on their
quality of services providing to the customer (Plioutsias, 2018).
A start-up should focus on some points which will be useful for their business. Name of business
is the initial thing which attracts the customer so they try to come with the name that already in
the market by taking a franchise or some other methods which helps them to grow. Understand
the value of financing because it is very difficult to find an investor for the new business. As
modern technology makes thing easier or promotion is now an easier task. Create a great
professional website and catch new customer daily, retarget again and again. Focus on those
customers who really take an interest in the product. It will be an effective point for any business
that they have a good collection of a loyal customer who has trust in their business and their
product. Always make short term goal, it will help in motivating and inspiring for the long term
which must be the move when they evaluate that after getting some experience in the same
business. SWOT analysis conduct in a regular interval of time (Salamzadeh, 2015).
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Section: 3
Opportunity development
Drones or unmanned aerial vehicles (UAVs) raise issues for isolation and other liberties. Drones
are able to take advanced feature in it. Drone includes various equipment e.g. infrared cameras,
live-record video cameras and radar and heat sensors. Drones are useful in the situation when
flight considers as in risky or unsafe mode where officers need to be the proper vision from their
entire journey. Pilot observe all the events and kept eyes on every activity if flight take bad turn
observer to inform that this is the bad turn and avoid the dangerous effects.
The military used drones in various purposes like delivering the packet in various areas observer
track all the events done by the drone. This delivery option makes easier in terms of dependency
of the human being. It works through the GPS system. It tracks the location and makes it land
remark.
1) Inspection and Monitoring: Risky area of application demand of these tools. Pilots are
trained in their area but the corporation wants to provide reliability to their global or international
customer. This customer service makes unique features which increase efficiency. UAVs used
for a short time and prevent from the maintenance of assets; it is a safe and less expensive
technique (Kang, 2018).
The advantage of using drones in inspection and monitoring: High Performance: It provides the permanent monitoring feature with an overview with
the ground station through mobility features and captures HD images. It is 3-D flight
which ideal for inspections.
 Less Maintenance: It helps in detecting hairline cracks; gather actionable event.
 Lowest investment: It requires fewer amounts of staff with major safety methods.
2) Photography: One of the most significant uses of a UAV is its ability to capture aerial
photographs thanks to the advanced high-resolution cameras that can be easily fitted in them.
It comes in handy when there is a need for a geographical survey of an inaccessible area such as
a dense rainforest or deep canyons.
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It's the compact size and ability to squeeze through small areas makes it useful in many search
and rescue scenarios where a large area is needed to be covered in a short amount of time. The
high-resolution cameras fitted in them can provide aerial shots in many modes including night
vision as well as thermal.
Benefits of UAVs in photography are as follows:
 Flexibility: One and two people can easily control or monitor this system. It works on
high performance of GPS.
 Less effort: This system helps to take a steady image in video mode. Controlling force
requires an experienced person who can monitor for their professional use.
 Application: Real estate aerials, Image films, Sports & great sports movies, music clips,
product movies and commercials (O'connor, 2019).
3) The vision of computer: UAVs stands for the vision of mechanical, recognition from optical
base and conception of images by the help of robots. These robots are working on the sensor
which operates with the help of mobile. These flight sensors collect information from their
environment. It always produced reliable information which can be read and examined by the
special software. If the information contains some defect or some uncertainties is their software
get easily detect. UAVs computer image will ensure the quality in many areas. It collects
information from the sky by using their aerial technology.
4) Search and rescue: Drones are also fast becoming an important element in disaster response
scenarios. Immediate requirement of search and rescue can be carried out with the use of drones.
Since they can provide aerial views of both land and sea they also find application in marine
search and rescue as well. In recent cases of wildfires, drones provided a great deal of help by
surveying the affected area and plan damage control accordingly.
These days’ drones are also used in many covert surveillance operations in the military as well as
general city-wide surveillance for the police department. This helps in close monitoring of highly
suspicious areas without putting the actual officers in the line of danger.
It is being used in predictive maintenance of power grids. Some power grids are situated in areas
that are very hard to reach by conventional ways hence drones are considered a perfect solution
for inspection and service of these grids. They help speed up the inspection process without
having to interrupt the power supply.
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It can also be used to provide some basic services to isolated towns and inaccessible locations.
They can provide food and medicines to these areas since travelling there by road may not be
feasible
5) Agriculture: It is the backbone of any nation in the world. Drone helps the farmer to collect
information and automate the surplus process which maximizes efficiency. It also helps in
spraying chemical fertilizer or medicines to kills the insects which may cause harmful disease to
the living being. It is used in sowing seed in the field in a homogenous manner. The drone can
easily distribute the seed on the land. In future drone will help in pollination which declines the
population of bees. High-resolution cameras fitted on the drone. It assists the farmer what's going
on the farm, without any help from the hiring farmers for this. It reduces the effort of farms
which saves time, reduce cost and save energy. Fertilizers maintain the ecological balance.
Special drone helps in distributing the fertilizer in the field in an appropriate manner (Rhee,
2018).
6) Telecommunication: Telecommunication is a vast area and this area requires advanced
technology to deploy its quality service to their customer. Telecommunication tower is large and
the drone can easily monitor or control the tower, it is used to identify the damages theta they
can repair on time and prevent from the huge loss in the future. Drone service makes things
easier as compared to others, it is danger free also, and it consumes very less time.
According to the research telecommunication company says that they reach at the 5G at the ultra
wideband huge network from this new innovation only. It is not any task to spectator each and
activity where human force can’t even reach. Innovation will increase throughout time.
Advantages:
Inspection of Tower: Climbing on the tower is the most dangerous work. So, now the tower
inspector is the drone. It captures the image, creates videos and sends these clip to the system
automatically.
Radio-planning: Drone can help in planning from the radio waves. This technology removes the
obstacles through radio signals or it makes the clear path between two or more towers. It is
concern about the height and exact location of the building, tower or hilltops.
Weather Forecasting: Drones are used for the weather forecasting mostly in severe weather
conditions. They are the best suitable methods for predicting storm other than any traditional
methods. The data collected by drones are the most accurate and useful for the scientist in order
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to predict high storms and saving the lives of many people. They can easily fly in the middle of a
violent storm as compared to any other aircraft operated by a human. It all happens in the
fraction of the cost. With their skills and ability to predict the data in real time drones are able to
save the lives of thousands. It can provide the lead warning time much before the occurrence of
the storm which provides the people enough time to protect themselves and evacuate. It is able
to track all the causes and factors of the storms, tornadoes and all natural calamities. One drone
was sent to forecast the hurricane at Florida; it was able to track all the things such as
temperature, pressure, humidity, wind speed and direction. It sent all the data to the scientist at
real time.
Drones use special radar to monitor the storm formation, structure and intensification. Human
operated aircraft cannot fly high in the clouds, but drones can reach to the three different layers
of the clouds to accurately predict the atmosphere for the future. Drone carries heavy mass
spectrometers for measuring a variety of greenhouse gases. It has the potential to fly in the storm
system irrespective of the hurricanes. Meteorological drones can gather the data behind the
formation of twister during the tornadoes. Several drones are placed in different parts of the
atmosphere by many scientists in order to evaluate the local atmosphere. Many small drones
have been developed that do not cost much money and can collect atmospheric conditions by
flying any high levels (Koerner, 2014).
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Section: 4
Conclusion
To be successful in any business entrepreneurship and innovation are the two main key
components which help in both profit and non-profit organizations. It is the activity which
involves pursuing change, taking risks, creating new values, innovation. The development of
entrepreneurship in the business is not spontaneous It is affected by the number of factors such as
social, economic, technological, political, legal. Entrepreneurship is the most important trait to
expand the company and to develop new ideas for generating new products. Successful
entrepreneurs are the motive and catalyst of the company and for the business. Entrepreneurs are
not only the creator, manager or owner of the business. Entrepreneurs are also the project leader
of the idea of business. It is essential for all the levels of business starting from developing the
idea for making a particular product, souring of the resources such as finance, machines,
manpower and technology used for the development process. Then the next step is the
production of the product which requires innovative traits and characteristics to reduce the waste
and operating expenses.
It helps in all types of situations entrepreneurship requires knowledge of business financial, legal
and technical skills, which are supposed to be applied in making innovation of new ideas and
products. There is a need for developing clearly defined outcomes for entrepreneurship education
of art, design, and media. The person becoming entrepreneurs have to study and research the on-
going market trend to gain knowledge of the prevailing modern technologies and methods for the
new idea generation. The main object of entrepreneurs is to generate business from a well-
defined project and to produces another resource from the available resource of the company
such as employment and innovation. The main objective is to seek the opportunity and advantage
of all the opportunities presented.
Entrepreneurship traits can be further developed and enhanced by implementing
entrepreneurship develops programs in order to organise and manage the business more
successfully. The entrepreneurship works on the trial and error method as an entrepreneur has to
try different methods and the method which is suitable for the idea and product of the business.
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Proper training and development opportunities should be given to the entrepreneurs in order to
make them develop the full potential of their skills and abilities; which leads to successful
development of a business organisation in the competitive environment. The government should
make industry oriented efforts for encouragement and rapid industrialization so as to provide
benefit to the entrepreneurs.
Social environment affects the entrepreneurship development in various ways, so the facilities
such as land, electricity, water and raw material should be made available in sufficient quantity
in order to provide favourable entrepreneurship environment for the business. Some special
concession, incentives should be provided to the entrepreneurs to facilitate the work of research
and development activities executed by them. New ideas, works and creativity of the
entrepreneurs should be encouraged enough in order to motivate them for future success. State,
Central and various other governments should improve their work structure in order to prepare
successful entrepreneurs.
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