The growing demand for faster and same-day delivery at an affordable cost is fueling the drone package delivery market’s growth.
Newark, July 16, 2022 (GLOBE NEWSWIRE) — As per the report published by The Brainy Insights, the global drone package delivery market is expected to grow from USD 213 million in 2021 to USD 7168.8 million by 2030, at a CAGR of 47.8 % during the forecast period 2022-2030.
Several logistics and transportation companies are investing mainly in building efficient infrastructure for drone package delivery. Drone package delivery is an efficient and innovative transportation service for delivering packages, parcels, medical needs, and commercial goods. They deliver products in a short time and with high accuracy with minimal intervention of humans. Prominent technological companies such as Zipline, United parcel service of America (UPS), and Deutsche post-DHL group are heavily investing in developing more advanced drones to deliver all kinds of packages and to any location. Drones have a small airframe structure, high durability, motion sensing, and location tracking features that propel the market’s growth. Enhanced technology like Artificial intelligence and the Internet of Things (IoT) is widely used to develop drones that can work effectively and swiftly in delivering packages.
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To enhance their market position in the global drone package delivery market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
● In February 2021, a legal agreement was signed by Zipline with the Kaduna State Government for the use of drones in the health supply chain system. The drone delivery system will include daily medical supplies, such as medicines, medical equipment, blood pints, and planned delivery of COVID-19 vaccines.
Market Growth & Trends
There is an increase in the use of the drone package delivery system in the commercial and civil applications for various logistics and transportation purposes in agricultural and core sectors, enhancing the market’s growth. Drones used for commercial applications can sustain temperatures between 0-40 degrees Celsius and winds up to 36 km/h; Hence according to research, drones can fly only for about 10 hours on average, which is a significant limitation for the market’s growth. Technological developments are being introduced, like shifting from VTOL to fixed-wing forward flight, cloud-dependent services, and unified aerial traffic management systems in the drone package delivery system, which is expected to provide an opportunity for the market’s growth during the forecast period . Manufacturing companies are also trying to make the components of drones cost-effective and make the system capable of flying with heavy loads at longer distances. However, the high price associated with the latest technological developments in these drone package delivery systems is expected to challenge the market’s growth during the forecast period.
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● In 2021, the hybrid segment dominated the market with the largest market share of 44.8% and a market revenue of 95.4 million.
The product type segment is divided into fixed-wings, multirotor, and hybrid. In 2021, the hybrid segment dominated the market with the largest market share of 44.8% and a market revenue of 95.4 million. Hybrid drones are suitable for quick vertical takeoff and landing and capable enough to avoid any collision that drives the segment’s growth.
● In 2021, the <2KG segment accounted for the largest share of the market, with 42% and market revenue of 89.4 million.
The package size segment is divided into <2KG, 2-5 KG, and >5 KG In 2021, the <2KG segment accounted for the largest share of the market, with 42% and market revenue of 89.4 million. Drones are widely used to deliver packages such as food supplies and medical products which usually weight less than 2 kg, driving the segment's growth.
● In 2021, the medical and healthcare segment accounted for the largest share of the market, with 48% and a market revenue of 102.2 million.
The End-user segment is divided into medical and healthcare, and retails. In 2021, the medical and healthcare segment accounted for the largest share of the market, with 48% and a market revenue of 102.2 million. The segment has been growing owing to the high demand for medical products, vaccines, medicines, lab samples, etc., which need urgent delivery in the hospitals.
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Regional Segment Analysis of the Drone Package Delivery Market
● North America (US, Canada, Mexico)
● Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
● Asia-Pacific (China, Japan, India, Rest of APAC)
● South America (Brazil and the Rest of South America)
● The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, North America emerged as the largest market for the global drone package delivery market, with a market share of around 39.6% and 84.3 million of the market revenue in 2021. The drone package delivery market in the region has been expanding due to the presence of prominent manufacturers. Furthermore, the rising adoption of drone package delivery by the e-commerce sector propelled the market’s growth in the region.
Key players operating in the global drone package delivery market are:
● Amazon.com Inc.
●DHL International GmbH
● United Parcel Service of America, Inc.
● Zip lines
● Matternet Inc.
● Wing Aviation
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Brainy Insights has segmented the global drone package delivery market based on the below-mentioned segments:
Global Drone Package Delivery Market by Product Type:
● Fixed Wings
Global Drone Package Delivery Market by Package Size:
Global Drone Package Delivery Market by End-User:
● Medical and Healthcare
About the report:
The global drone package delivery market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.
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