Google Inc. said in a statement that it is developing a system of drone deliveries, so-called Project Wing, and that is has already been tested in Australia, taking its competition with Amazon.com a step further.
“Self-flying vehicles could open up entirely new approaches to moving things around – including options that are faster, cheaper, less wasteful, and more environmentally sensitive than the way we do things today,” Googles statement read. “Before we develop our system, we want to go out and learn about more situations in which aerial delivery could help people in their daily lives and jobs.”
Google Inc. revealed in its statement that it has been working on the use of self-flying machines for two years now. In comparison, a similar project was officially announced by Amazon.com in late 2013. Lately, the rivalry between the two online giants has become more fierce than ever in an attempt to attract new customers in order to expand reach.
Google said it aims to fly its drones on programmed routes at altitudes of 130 – 200 feet. The self-flying machines will be run with the push of a button. The company is also betting on precise navigation in order to pick the most efficient routes for the deliveries. Google shared that it is working on controlling the noise of the drones, and that it is respecting the privacy and safety of people on the ground.
“I dont know that Google is much better positioned than Amazon or anyone else in terms of technology, but the company has a track record of being influential in terms of policy,” Ryan Calo, a law professor at the University of Washington who studies robotics and privacy, said for The Wall Street Journal.
Google Inc. was 0.46% down to close at $580.32 per share yesterday, marking a one-year change of +36.65% and valuing the company at $390.28 billion. According to CNN Money, the 43 analysts offering 12-month price forecasts for Google Inc. have a median target of $670.00, with a high estimate of $750.00 and a low estimate of $570.00. The median estimate represents a +15.45% increase from the last price of $580.32.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
