Normally, I get exhausted reading about all the niche ETFs that continue to be launched hoping to capture the buzz necessary to turn it into a viable investment vehicle. But I was intrigued when I came across the PureFunds Drone Economy Strategy ETF (NYSEARCA:IFLY). While the retail use of drones by recreational users and hobbyists has been well documented, it's the potential drone technology has in the commercial sector that carries so much promise.
Many might think of Amazon's (NASDAQ:AMZN) drone delivery testing as the biggest application of this technology but it actually has potential in several sectors. Energy companies can use drones for exploration. Agricultural businesses can use them to inspect soil and crops. Other industries like construction, media and real estate can all find practical uses for drones. Over time, the impact and acceptance of drone technology in day-to-day business could be huge.
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