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Reading: Nigerian drone company Terrahaptix records $2m revenue in its first year as it begins South Africa exportation
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African News Herald > Blog > Technology > Nigerian drone company Terrahaptix records $2m revenue in its first year as it begins South Africa exportation
Technology

Nigerian drone company Terrahaptix records $2m revenue in its first year as it begins South Africa exportation

ANH Team
Last updated: December 17, 2024 4:25 am
ANH Team
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Terrahaptix, a Nigerian drone company, is expanding its reach by exporting drones to South Africa for mining activities. The company has partnered with DiggingDeep, a company that connects mining operations in Africa with suppliers, to exclusively distribute its drones to mining companies in South Africa.

Nathan Nwachukwu, the founder of DiggingDeep, shared that the mining industry is where they have the most customers. The drones provided by Terrahaptix will be used for surveying and mapping mining sites, inspecting equipment, monitoring hazardous areas, identifying mineral deposits, and monitoring environmental impacts around the mine.

According to Mining Technology, 65% of mines globally use drones, showing a significant increase from 44% in 2018. The drone market for mining is currently valued at $31.4 billion and is projected to reach $103 billion by 2031. Drones have become essential tools in mining operations, enhancing safety, efficiency, and data collection throughout the mining process.

Terrahaptix’s drones will play a crucial role in major mining operations in South Africa. Their aerial drones will aid in security and site mapping, while their ground drones, like the Duma, will assist miners in mining activities and ground surveillance.

South Africa marks the fifth African country Terrahaptix will be exporting to, with existing clients in Congo, Ghana, Kenya, Cote d’Ivoire, and Nigeria. Nwachukwu revealed that most of their sales come from outside Nigeria, with a goal to dominate the African drone market in the next five years.

The increasing demand for electric vehicles (EV) has led to a surge in the mining industry, particularly for minerals like lithium used in EV batteries. This “mining renaissance” in Africa is expected to drive the demand for Terrahaptix’s drones from mining organizations towards the end of 2024.

See also  South Africa’s Commerce Media Moment has Arrived: The Experts Weigh In

Despite facing competition from other South African drone companies and global players, Terrahaptix maintains a competitive edge with its pricing, being more than 50% cheaper than its competitors. By sourcing materials locally and obtaining sensors and cameras from China, the company is able to offer cost-effective solutions to its clients.

As Terrahaptix continues to grow and expand its exportation efforts, it is poised to make a mark in the global drone market. With a focus on innovation, affordability, and quality, the company aims to solidify its position as a leader in the drone industry, catering to the evolving needs of the mining sector in Africa and beyond.

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