DJI could become the first billion dollar consumer drone company

The company that makes those popular Phantom quadcopter drones, Da-Jiang Innovations, managed to bring in more than $500 million in revenue last year, a number that the company expects to double to a whopping $1 billion this year. This means that not only is the company the leading manufacturer of consumer-friendly drones, it will also be the first and only billion dollar drone manufacturer.

Da-Jiang Innovations, maker of the popular Phantom quadcopter drones, is tracking toward another banner year. The company earned $500 million in revenue in 2014, according to The Verge, and expects to more than double that total in 2015, solidifying its position as the leading manufacturer of consumer-friendly flying robots. Now, after bootstrapping since its founding in 2006, DJI is looking to secure enough venture capital and fend off its rivals, The Verge reports. Those competitors, including 3D Robotics and Parrot, collectively raised $108 million last year, based on an analysis by CB Insights. From a regulatory risk standpoint, the timing is right to invest: In February the Federal Aviation Administration released revised rules for drones that are paving the way for broader adoption. Drone enthusiasts, who had been facing increased pressure from local law enforcement, welcomed the new regulatory framework with a sigh of relief.