Global Drone Package Delivery Market To Grow At A CAGR Of 41.80% In The Forecast Period Of 2023-2028
The ‘Global Drone Package Delivery Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global drone package delivery market, assessing the market on the basis of its segments like type, range, operation mode, application, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Drone Package Delivery Market Size, Share, Price, Trends, Growth, Key Players, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 41.80%
With drone package delivery, the accuracy rate of delivery of the packages has increased because of technological advancements such as machine learning, geospatial mapping, VTOL and loT. The continuous advancements in drone technology makes them quintessential for gathering ground data, helping improve accuracy of deliveries. These advancements have fuelled the global drone package delivery market growth. The realisation of the full scope of potential of the drones during the pandemic led to relaxations of numerous regulations as well as the emergence of many a start-ups and drone delivery services.
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Over the forecast period, the projected increase in demand for pre-cooked meals, rapid delivery of health and wellness products, and the ever-growing urge of the urban youth to shop online is anticipated to drive the growth of the global drone package delivery market. The adoption of fast, safe, reliable, and autonomous drone delivery systems has significantly contributed to the growth of the market globally. The acceptance of this technology has been rapid in areas with high labour costs.
The dominance of drones in delivery is inevitable. Multiple industries are anticipated to adopt drone package deliveries with the aid of features such as last-mile delivery, surveillance. These factors are expect to support the exponential growth of the drone package delivery market in the coming years.
Drone Package Delivery Industry Definition and Major Segments
A delivery drone is an unmanned aerial vehicle used to deliver lightweight items that are preferred due to their fast speed. The working of a drone is as such, they arrive at the delivery location where they slowly descend in an open space before hovering at a safe height from the ground and slowly release the package and return to their base.
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Based on type, the market is classified into:
• Fixed Wing
• Rotary Wing
On the basis of range, the market is catalogued into:
• Short Range
• Long Range
Based on mode of operation, the market is divided into:
• Remotely Piloted
• Partially Autonomous
• Fully Autonomous
On the basis of application, the market is categorised into:
• Retail and E-commerce
Based on region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Drone Package Delivery Market Trends
With increasing demands and expectations of reduced delivery time by modern day consumers, it is no wonder that the retailers are looking into drone delivery services. Drones are cost-effective saviours to modern business problems as not only are drones economically viable but also environment friendly. With the increasing concern over climate change, drones are opted over traditional couriers, increasing the potential for the drone package delivery market. Traditional deliveries are fulfilled by burning fossil fuels which ends up adding smog and pollution to the environment. Drone delivery offers a win-win solution to those looking for faster delivery options while protecting the environment.
Among the key trends of the market, are the growing popularity of subscription services that require frequent deliveries. With more people worldwide switching to online deliveries for products used on a regular basis, drone package deliveries can help support the increase in demand for deliveries.
The highest growth in the drone package delivery market is expected from the Asia Pacific region, this growth can be attributed to the evolving regulations and the increased acceptance of drone delivery operations. The government of India’s latest efforts on the development of drone corridors are in accordance with their aim to advance the cargo delivery services. Their nod to this technological sector is set to offer immense growth in almost all the major sectors of the economy.
Key Market Players
The major players in the global drone package delivery market are:
• Amazon.com Inc.
• Airbus SE, Alphabet Inc.
• Flytrex Inc.
• United Parcel Service
• Deutsche Post AG
• Zipline International Inc.
• Wingcopter GmbH
• SkyDrop (formerly Flirtey)
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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