Global Delivery Drones Market, by Drones Type (Fixed Wing, Rotor Drones, and Hybrid Drones), by Application (E-commerce, Quick-Service Restaurants (QSR), and Healthcare), by Component (Airframe, Controller System, Propulsion System, and Others (Sensors/Battery/Camera)), and by Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) - Global Forecast to 2028, is expected to be valued at US$ 5,586.5 million by 2028, exhibiting a CAGR of 41.3% during the forecast period (2021 - 2028), as highlighted in a report published by Coherent Market Insights.
Overview
A delivery drone is a type of unmanned aerial vehicle, which is used for distributing packages to customers in any locality. The drone is available in three different types, which include fixed-wing drones, rotor drones, and hybrid drones. These type of drones are mostly designed with four to eight propellers along with rechargeable batteries and can fly at high speed while carrying a parcel.
The global delivery drones market accounted for US$ 497.5 Mn in terms of value in 2021 and is expected to grow at a CAGR of 41.3% for the period 2021-2028.
Market Dynamics
Increasing number of vehicles on roads and expanding global population has led to traffic conjunction, which is likely expected to drive the global delivery drones market over the forecast period. Currently, delivery drones are becoming increasingly popular as they can avoid traffic congestion to deliver customer package in a specific time. Companies such as Amazon, Google, Uber, Matternet, Aria Insights, Inc., and United Parcel Service (UPS) are focused on adoption of electric-powered flying machines for package deliveries. For instance, in January 2018, Boeing introduced a new unmanned cargo air vehicle prototype called electric vertical-takeoff-and-landing (eVTOL). This product is designed to transport payloads weighing up to 500 pounds for autonomous cargo delivery, logistics, and other transportation applications.
Furthermore, increasing use of delivery drones in various industries such as healthcare, food, and others is driving growth of the global delivery drones market. For instance, in June 2019, Zomato an India-based online ordering and food delivery platform, tested its first food delivery via drone technology in Gurugram.
However, low battery life of delivery drones is one of the major challenges for the growth of global delivery drones market.
Global Delivery Drones Market - Impact of Coronavirus (Covid-19) Pandemic
The outbreak of COVID-19 is expected to positively influence the global delivery drones market growth. The COVID-19 pandemic increased demand for delivery drones to deliver goods to the customer without human involvement. For instance, in March 2020, UPS, a U.S. based multinational package delivery company, entered into a collaboration with German drone-maker Wingcopter GmbH to accelerate the adoption of aerial drones for contactless delivery.
To know the latest trends and insights prevalent in Global Delivery Drones Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/delivery-drones-market-2460
Key Trends and Analysis of the Global Delivery Drones Market:
- Among drones type, rotor drones segment held the highest market share in the year 2020, and is expected to retain its market share over the forecast period, owing to flexibility in operation, ease in use, and low maintenance cost. Furthermore, increasing demand for delivery drones from commercial, residential, healthcare, and other sectors is expected to boost growth of the segment over the forecast period.
- Asia Pacific is the fastest-growing region in the delivery drones market. The growth of the Asia Pacific market is mainly attributed to the presence of fast-growing economies such as China and India. The fast-growing economies in the region offer growth opportunities and hence, the major online retail companies are looking forward to reducing their delivery time by using delivery drone. For instance, in April 2017, China-based JD.com, Inc., developed 150 drone operation sites in the Sichuan province, China. This new operations site allows the company to deliver products via drone to its customers, which is creating major demand for delivery drones in the region.
Competitive Section
Major companies operating in the global delivery drones market include Airbus SE, Deutsche Post DHL Group, Drones America, EHang, JD.com, Matternet Inc., SKYCART INC., SZ DJI Technology Co. Ltd., The Boeing Company, and Wing Aviation LLC
Segmentation
Market Taxonomy:
- By Drones Type
- Fixed Wing
- Rotor Drones
- Hybrid Drones
- By Application
- E-commerce
- Quick-Service Restaurants (QSR)
- Healthcare
- By Component
- Airframe
- Controller System
- Propulsion System
- Others (Sensors/Battery/Camera)
- By Region
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East and Africa
