DUBLIN–(BUSINESS WIRE)–The “Global Drone Package Delivery Market by Solution (Platform, Infrastructure, Software, Service), Type (Fixed-Wing, Multirotor, Hybrid) Range (Short 25 km), Package Size (< 2Kg, 2-5 Kg, > 5Kg), Duration, End-use, and Region – Forecast to 2030″ report has been added to ResearchAndMarkets.com’s offering.
The drone package delivery market is projected to grow from USD 528 million in 2020 to USD 39,013 million by 2030, at a CAGR of 53.8% from 2020 to 2030.
Based on solution, the service segment is projected to lead the drone package delivery market during the forecast period.
Based on solution, the drone package delivery market has been classified into the platform, software, infrastructure, and service. Drones are becoming accessible to smaller logistics operations for running a warehouse and are increasingly adopted in the delivery of food items, product packages, and medical supplies, among others. The growing use of delivery drones leads to the requirement for proper software and infrastructure that support them. Combined with good logistics software, drones can drastically improve efficiency. Online retail service providers and logistic companies are focusing on developing innovative drones which can carry a heavy payload to deliver packages at customer’s doorstep. In the industries such as healthcare, logistics, and food, the multirotor drone has the capability to fly autonomously to the delivery package at the location provided by a customer of the respective company. Thus, the benefits of serial delivery drones in the service industry is driving the demand for drone services in the drone package delivery market.
Based on type, the hybrid segment is projected to grow at the highest CAGR during the forecast period.
Based on type, the drone package delivery platform market has been segmented into fixed-wing, multirotor, and hybrid. The hybrid segment is estimated to register the highest CAGR during the forecast period Drone manufacturers across the globe are focusing on the development of drones for use in the delivery of packages within the city limits and also on the advancements of the drone technologies. The hybrid type segment is projected to witness the highest CAGR. Features such as vertical landing and AI-based collision avoidance will increase the market for hybrid drones.
Based on end-use, the delivery of the medical aid is projected to lead the drone package delivery market from 2020 to 2030.
Based on end-use, the drone package delivery service market has been segmented into food delivery, retail goods delivery, postal delivery, medical aids delivery, precision agriculture delivery, industrial delivery, and weapon & ammunition delivery. The medical aids delivery segment is projected to lead the market during the forecast period The medical and healthcare sector has adopted drones to carry out effective delivery of medicines and medicinal equipment within and outside the hospital premises. These drones are used for pharmacy and laboratory pickups and deliveries, thereby optimizing labor productivity in hospitals. The coronavirus outbreak has put increased pressure on healthcare services across the world.
The North American and Asia Pacific regions are projected to be high growth potential markets for drone package delivery during the forecast period.
The drone package delivery market in the North American region is expected to witness substantial growth and register the highest CAGR during the forecast period The region’s growth is attributed to the increasing trend of online shopping on e-commerce platforms and favorable FAA regulations in the US. The rise in investments from key players to support start-up companies for establishing parcel service platforms in the region will contribute towards the growth of the region during the forecast period.
Market Dynamics
Drivers
Increasing Demand for Quick, Instant, Same-Day Delivery, and Emergency Supplies Improvements in Regulatory Frameworks Cost-Effectiveness of Drones Compared to Electric Ground Delivery Vehicles Technological Advancements in Drones Increasing Need to Reduce Carbon Emissions Restraints
High Cost of Infrastructure Limited Bandwidth and Battery Life of Aerial Delivery Drones Opportunities
Increasing Private Investments in Drone Industry Increase in Ecommerce Sales and Demand for Contactless Delivery Amidst COVID-19 Pandemic Development of Aerial Delivery Drones for Use in Geographically Challenging Areas Incorporation of IoT in Ecosystem of Delivery Drones Challenges
Data Security Breaches and Drug Trafficking Using Aerial Delivery Drones Stringent Government Regulations and Lack of Air Traffic Management Lack of Risk Management Framework and Insurance Cover for Aerial Delivery Drones Consumer Acceptance and Health Issues due to Noise from Delivery Drones Companies Mentioned
Airbus S.A.S. Altitude Angel Amazon.Com, Inc. Bizzby Boeing Cheetah Logistics Technology Deutsche Post Dhl Group Drone Delivery Canada Corp. Dronescan Edronic Ehang Elroy Air Fedex Fli Drone Flirtey Flytrex Manna Aero Matternet, Inc. Rigi Technologies Sa Skycart Inc. Skyports Limited Speedbird Aero United Parcel Service of America, Inc. Volansi Wing Aviation LLC Wingcopter Workhorse Group Inc. Zipline For more information about this report visit https://www.researchandmarkets.com/r/a45vd9