Northbrook, IL 60062 -- (SBWIRE) -- 08/09/2022 -- The report on the drone logistics and transportation market provides an analysis of the market from 2019 to 2030. It discusses industry and technology trends currently prevailing in the market, along with drivers, restraints, challenges, and opportunities that influence the growth of the market. The drone logistics and transportation market is projected to grow from USD 534 million in 2022 to USD 17,881 million by 2027, at a CAGR of 55.1% from 2022 to 2030.
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The drone logistics and transportation market in the Asia Pacific region is expected to witness the highest growth during the forecast period. The growth of the market in this region can be attributed to the rise in military spending (both in defense and homeland security) by countries in the region to enhance their defense capabilities by procuring new and advanced defense systems, which include a large number of UAVs with huge payload capacity for the delivery of cargos.
Based on platform, the drone logistics and transportation market is segmented into freight drones, passenger drones, and air ambulance drones. Freight drones are further segmented into delivery drones and cargo air vehicles, while passenger drones are further segmented into drone taxis, air shuttles, and personal air vehicles.
Based on solution, the drone logistics and transportation market has been segmented into system, software, and infrastructure. Drones are increasingly being adopted for 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 to support them. With significant investments in the development of drone infrastructure, the possibility of using drones for the transportation of passengers and cargo is gaining traction. Prototypes to ease the problem of congested traffic in urban areas in the form of cost-effective passenger drones are being developed. The major solutions required for the use of drones for passenger and cargo transportation include the development of infrastructure and reliable aerial vehicles.
Based on software, the drone logistics and transportation market has been segmented into route planning & optimizing, inventory management, live tracking, fleet management, and computer vision. The rising demand for enhanced safety of drones while operating in urban or rural areas, coupled with the need to ensure bystander safety during delivery drone operations, is expected to fuel the growth of the software segment.
Based on Application, the drone logistics and transportation market has been segmented into logistics and transportation. The logistics segment witnesses the highest growth during the forecast period. This segment further classified into postal & package delivery, healthcare & pharmacy delivery, retail & food delivery, precision agriculture, industrial delivery, weapons & ammunition delivery, and maritime delivery. Whereas, the transportation divided into patient transport and passenger transport. The transport of passengers through drones is beginning to become a reality, thanks in part to huge capital investments and technology advancements. Passenger drones have proven to be a new and safe form of transportation, a time-saving solution for traffic congestion, and a way to reduce hazardous emissions and pollution. Several passenger drones are now approved and currently flying in Germany, Dubai, and China; a few models are now in the process of achieving FAA approval to fly in the US.
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Passenger drones with state-of-the-art technologies are quiet, safe, and environmentally clean because they are fully electric and do not emit pollutants or hazardous gases like automobiles. They automatically avoid obstacles and can be programmed to take off, fly, and land precisely every time. An important benefit of passenger drones as personal transportation vehicles in cities is that they do not require expensive infrastructure improvements such as streets, highways, rail systems, tunnels, street lighting, and such. Instead, they can safely take advantage of the unobtrusive non-commercial air space in the sky and utilize an unseen digital network as a reliable infrastructure to effectively avoid collision with other passenger drones and any obstacles to ensure a safe path for every flight. Other potential benefits include the use of passenger drones by emergency services for search & rescue missions and the delivery of life-saving goods. Companies like Ehang have already begun using passenger drones as emergency vehicles as a response to the potential river collapses during the flood season in China.