Hot Features
Premium
Register for streaming realtime charts, analysis tools, and prices.
Enters Rapidly Growing Chinese UAV Market
Strat Aero plc, the AIM quoted international aerospace company focused on the Unmanned Aerial Vehicle sector, is has announced its entrance into the rapidly growing Chinese and Asian UAV markets through the signing of two agreements.
The Chinese UAV market has been identified by the Board as an area of strategic importance for the Company as one of the fastest growing in the world with highly attractive supply and demand dynamics. China’s Civil Aviation Administration estimates that by 2018, there will be a demand for more than 30,000 civilian drone pilotsi rising from the approximately 700 licensed pilots at present.
I-Coach (Hong Kong)
· Master Franchise Agreement with Hong Kong based I-Coach, to roll-out Strat Aero’s proprietary UAV Training Programme and capitalise on the rapidly growing base of UAV operators in Hong Kong, The People’s Republic of China, the Taiwanese Republic of China and Macao
· Under the terms of the Agreement Strat Aero will receive a sign on fee, annual recurring fees based on student numbers and other standard franchise terms in return for granting I-Coach the exclusive rights to operate its training programme in the above named territories
· Target audiences to include commercial enterprises which want to add UAVs as a new tool to improve their business, private aircraft pilots and private UAV owners
AviationLearn (Singapore)
· Memorandum of Understanding with AviationLearn Pte Ltd of Singapore, a leading technology based training provider in Asia, to offer training and professional advice to AviationLearn on the use of UAVs in Singapore
· MOU is in line with Strat Aero’s objective to become a leading worldwide provider of UAV training and education solutions, covering all aspects of the value chain including software, hardware and services
Tony Dunleavy, CEO of Strat Aero, said: “Today’s developments represent Strat Aero’s initial thrust into the Asian market and I am confident that these agreements will position us at the heart of what is a rapidly expanding market. There is no doubt that our British and aviation heritage, combined with the credibility of our stock market listing and the quality of our proprietary training programme, offer us an exciting opportunity to carve out a significant position across Asia, in both training and other commercial markets. We expect to report further progress in this regard both shortly, as we look to build on the momentum behind the business and position Strat Aero at the forefront of the UAV revolution, which is transforming everyday business practices across commercial markets. We are also in the process of gaining a foothold into both training and other Asian sectors and opportunities in this regard will be an important focus for 2016.”
