What exactly is FPV flying?
Almost everyone has laid awake at night and dreamed about being able to soar through the sky like an eagle, seeing new sights, doing tricks and speeding off to see friends without a single worry of traffic. Unless you spend quite a lot of money to get a pilot's license and your own aircraft, this isn't exactly a realistic possibility.
However, there has been technology invented which allows you to do pretty much the next best thing. No, this isn't a simulation, this is real life - you can strap a camera to your radio controlled plane, put on some goggles, and get a live-feed including a heads-up display, just like a real fighter jet (well, almost).
This will enable you to get a real-time feed of what your plane sees - flying through scenic views and soaring around the clouds with ease. It also gets rid of a common problem with model plane flight, which is losing your aircraft. The HUD will display your distance from home and in which direction it is, allowing you to safely come back each and every time.
Practical implementations and limitations
As with almost-anything that is fun, there are a few limitations and also realistic and practical implementations for the technology. In recent years, there were some massive earthquakes located within the New Zealand's city of Christchurch, rocking their CBD and rending many buildings, infrastructure and businesses completely useless.
In order for engineers to inspect some buildings for structural integrity from the safety of outside, they utilized drones controlled by iPads to fly into large-scale areas like churches and shopping centers. This enabled preliminary visual checks to be made and consequently saving many lives. Exactly the same can be seen on quadcopters of today, with people actually racing against one another through tree-cluttered woods and park areas, able to dodge all obstacles due to their front-seat view of the situation at hand.
As far as limitations go, because this is an airborne project, you have to adhere to rulings such as height restrictions. Pilots must keep their model at least 30m away from any people, objects or animals, and your radio is only allowed to broadcast at a certain signal strength, as to not interfere with anything around you. This means there is a limit as to how high, far and wide you can travel - but it's still very awesome.
The video you watched above is a mix between FPV-capable aircraft and others that are fitted with various different GoPro (and similar) models. This scenic beauty of a place is Don heads, located within the North-West of the little island state of Tasmania, nestled at the bottom of Australia. This fan-made video covers many different plane models functioning with this technology and gives you an insight into what to expect when exploring the wide world of FPV flight.
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