Volatus Aerospace Secures Drone Service Approval in Oil & Gas Sector

Drone Delivery Canada ( (TSE:FLT) ) has shared an update.

Volatus Aerospace has received approval from two major North American oil and gas companies to provide drone-based aerial services for critical energy infrastructure. This approval allows Volatus to perform a variety of services, including pipeline surveillance and leak detection, using remotely piloted aircraft systems. The integration of drone operations is expected to increase revenue in this segment by up to 20%, enhancing situational awareness and supporting rapid response and risk mitigation in the energy sector.

Spark’s Take on TSE:FLT Stock

According to Spark, TipRanks’ AI Analyst, TSE:FLT is a Neutral.

Drone Delivery Canada is facing significant financial challenges with negative profitability, and cash flow issues weigh heavily on its stock score. Despite positive technical indicators suggesting short-term momentum and a promising outlook from recent corporate events, the stock appears overvalued given its current earnings potential. Improving financial performance and leveraging strategic partnerships are crucial for future growth.

To see Spark’s full report on TSE:FLT stock, click here.

More about Drone Delivery Canada

Volatus Aerospace is a leader in innovative global aerial solutions for intelligence and cargo, with over 100 years of combined institutional knowledge in aviation. The company provides comprehensive solutions using both piloted and remotely piloted aircraft systems (RPAS) across industries such as oil and gas, utilities, healthcare, and public safety. Its mission is to enhance operational efficiency, safety, and sustainability through cutting-edge, real-world solutions.

YTD Price Performance: 8.18%

Average Trading Volume: 83,028

Technical Sentiment Signal: Buy

Current Market Cap: $54.48M

For an in-depth examination of FLT stock, go to TipRanks’ Stock Analysis page.