Drone Package Delivery Market Worth $39,013 Million by 2030
Drone Package Delivery Market by Solution (Platform, Infrastructure, Software, Service), Type (Fixed-Wing, Multirotor, Hybrid) Range (Short <25 km, Long>25 km), Package Size (< 2Kg, 2–5 Kg, > 5Kg), Duration, End Use, Region- Global Forecast to 2030
Northbrook, IL -- (SBWire) -- 04/06/2021 --According to the new market research report "Drone Package Delivery Market by Solution (Platform, Infrastructure, Software, Service), Type (Fixed-Wing, Multirotor, Hybrid) Range (Short <25 km, Long>25 km), Package Size (< 2Kg, 2–5 Kg, > 5Kg), Duration, End Use, Region- Global Forecast to 2030", published by MarketsandMarkets™, 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. The growth of the market across the globe can be attributed to growing demand for fast delivery, rising amendments in regulatory frameworks to encourage drone package delivery, and increasing demand for lowering carbon emission.
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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 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 the efficiency. Online retail service providers and logistic companies are focusing on developing innovative drones which can carry heavy payload to deliver packages at customer's doorstep. In the industries such as healthcare, logistics, and food, multirotor drone has the capability to fly autonomously to delivery package at the location provided by 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 package size, the <2 kilograms segment is projected to lead the drone package delivery market from 2020 to 2030.
Based on package size, the drone package delivery platform market has been segmented into <2 kilograms, 2–5 kilograms, and >5 kilograms. The <2 kilograms package size segment is anticipated to lead the drone package delivery platform market in 2020, owing to a rise in demand for lightweight retail good packages across the globe.
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. For instance, in June 2019, Amazon.com, Inc. launched its Prime Air delivery drone, a hybrid drone capable of delivering packages weighing up to 3 kilograms within 30 minutes to customers residing within a 25-kilometer range.
Based on end-use, the medical aids delivery 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 labour productivity in hospitals. The coronavirus outbreak has put increased pressure on healthcare services across the world. The virus has caused greater demand for laboratory testing a well as an urgent need for personal protective equipment and devices to enable remote monitoring of patients with milder symptoms. Drone delivery has proved to be a useful solution in the wake of COVID-19 pandemic providing contactless deliveries and driving the market for medical aids delivery segment.
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The North American and Asia Pacific regions are projected to be high growth potential markets for the 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 region during the forecast period.
The market in Asia Pacific is expected to exhibit highest market share due to the increasing demand for online food purchases among the huge population. The rising trend of online grocery purchases in emerging economies such as India, China, South Korea, and Malaysia among others will drive the regional market growth in the upcoming years. In May 2020, India's Ministry of Civil Aviation (MoCA) launched a new portal, GARUD, to provide conditional exemptions to drone companies. Such initiatives will open new expansion avenues for drone service providers.
Major players in the drone package delivery market are Amazon.com, Inc. (US), DHL International GmbH (Germany), United Parcel Service of America, Inc. (US), Zipline (US), Matternet Inc., (US), Airbus S.A.S. (Netherlands) FedEx (US), Matternet (US), EHang (China), and Wing Aviation (US), and Boeing (US). These companies have strong distribution networks in the logistics business across North America, Europe, Asia Pacific and other regions in turn driving the demand for last mile deliveries and drone package deliveries.
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