FAA approves BP, AeroVironment for first U.S. commercial drone

BP (BP -0.3%) signs a five-year contract to use drones for its oil operations in Alaska, in the first large-scale, government-approved commercial use of unmanned aircraft in the U.S.

BP will used AeroVironment's (AVAV +1.6%) 13.5-lb. drone to capture and analyze data about BP's operations at its Prudhoe Bay oil field in Alaska, including 3-D maps of its roads, pipelines and well pads there.

The operation, which began Sunday, marks the first routine commercial drone flights in the U.S. approved by the FAA.

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Comments (5)
  • vikramnjnjjdjnd
    , contributor
    Comments (1444) | Send Message
    This seems like a great company to invest in later as drones become more popular for commercial use. I'll be watching. Share your thoughts below please.
    10 Jun 2014, 12:32 PM Reply Like
  • InvestorWisdom
    , contributor
    Comments (253) | Send Message
    The time to invest is now, not later. Commercial is bigger than military and AVAV is the #1 drone seller to the US military. This makes it an easy sale to these oil companies, whom have the $$$ to pay for the gov lobbying, permits, drones, etc. They ALL will be using drones in the not too distant future for monitoring difficult and/or vast areas/equipment and by that time the stock will be a lot higher than this $750 million market cap.


    I bet their phones are ringing off the hook today with interested parties. This is a major catalyst for all aspects of this company. The big door just got kicked wide open.
    10 Jun 2014, 02:32 PM Reply Like
  • Yorick
    , contributor
    Comments (796) | Send Message
    Rather than paying a guy to read meters for water (where many communities it is all RFID reading from the truck anyway), you could run a drone by every house every quarter to pick up the info.
    10 Jun 2014, 03:00 PM Reply Like
  • delano59
    , contributor
    Comments (203) | Send Message
    The uses are endless!


    Read avav 2013 financial report and see for yourself. This company is a "jetsons" hint of what's coming. This airborne "robo cop" will replace two policemen and a car for lookout assignments.
    10 Jun 2014, 05:38 PM Reply Like
  • Jason Meissner
    , contributor
    Comments (35) | Send Message
    The uses are endless, but lets not forget that AVAV is not the market leader in Drones. Boeing, Northrop, Lockheed and General Atomics all have larger positions.


    I think they need to put more capital into their efficient energy systems (EES) segment (aka EV solutions). I think they could have a real competitive edge on electrical vehicle charging technology, which will play out in the long run more than drone sales.


    Either way, whatever the company does, I'm sure they will do very well. They have had multiple products over the last decade that have won numerous awards. Personally, I like their hummingbird project.
    11 Jun 2014, 11:09 PM Reply Like
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