Business
OTC: ILUS, ILUS International (Ilustrato Pictures International Inc), Acquires Vira Drones, a European Manufacturer of Pioneering Industrial Unmanned Aerial Vehicles for Rescue and Logistics
OTC: ILUS, ILUS International (Ilustrato Pictures International Inc), Acquires Vira Drones, a European Manufacturer of Pioneering Industrial Unmanned Aerial Vehicles for Rescue and Logistics.
About this update from Ilustrato Pictures International Inc.
[{"type":"text","content":"\n NEW YORK, NY, Jan. 26, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- ILUS International Inc (OTC: ILUS) is a Mergers and Acquisitions company focused on acquiring and developing public safety technology-based companies across the globe. Having completed 4 acquisitions in 2021, ILUS has been in the process of completing several further acquisitions in January 2022. The company has agreed to acquire Vira Drones, an Unmanned Aerial Vehicle (UAV) company based in Germany and Switzerland. Vira Drones develops and manufactures UAVs or Industrial Drones. This technology is a world first in that it delivers the unmanned capability of light helicopters, with competitors of the acquisition achieving pre-production valuations of over $1.2 billion.  Vira Drones currently creates industrial heavy drones (UAVs) for rescue and logistics. Through the company’s proprietary technology, its UAVs can carry loads of up to 1000kg for as long as two hours, making these UAVs a viable unmanned alternative to light helicopters and free of their limitations. Vira Drones’ mission is to save more lives and access hard-to-reach locations more efficiently and cost effectively. The company is on track to become the world’s leading cargo and rescue drone manufacturer and plans to capture a significant share of the light helicopter market in the process.  The global light helicopter market is currently valued at $13 billion per annum. Within this, the market for light helicopters used for logistics and rescue is estimated to be between $2 and $3 billion. Vira Drones anticipates that at least 20% and up to 50% of these light helicopters can be replaced by industrial drones. It is expected that the market for UAVs will grow to $1.5 trillion by 2040. To say that Vira Drones has a bright future ahead is a substantial understatement. Airbus is planning to build 3 unicorn-sized scaleups per year and Boeing recently invested $450 million in the “flying taxi” company, Wisk. Eve Urban Air Mobility also recently confirmed it is going public via a SPAC merger with Zanite Acquisition Corp. after obtaining a pre-money valuation of around $2.4 billion. These examples illustrate the UAV industry potential, with Vira Drones already having received extensive interest from global aviation juggernauts and prominent international ...