USD 289.45 million
Report ID: SQMIG20R2015 | Region: Global | Published Date: February, 2023 | Pages: 242 | Tables: 119 | Figures: 77
Global Delivery Drones Market size was valued at USD 289.45 million in 2021 and is poised to grow from USD 417.18 million in 2022 to USD 5318.16 million by 2030, growing at a CAGR of 44.13% in the forecast period (2023-2030).
Delivery Drones, or unmanned aerial vehicles, are used to transport cargo. These drones are available in three main varieties: hybrid, rotor, and fixed-wing. Due to their ability to cut down on traffic and deliver items on time, these drones are becoming more and more popular. In order to convey items to remote regions, logistics and freight transportation companies are now using drones. Due to their high flying speeds and ability for vertical takeoff and landing, drones are excellent for a variety of delivery options. In response to the rising demand for drone delivery services globally, a number of nations are lowering laws to let drones to operate in their skies. Over the projected period, this is likely to expedite the development of drone procurements to provide new supply routes for rural areas.
A lot of logistics and transportation businesses are investing heavily in building an effective infrastructure for drone-based airborne deliveries. Drone delivery is a cutting-edge mode of transportation for businesses, commercial enterprises, and healthcare facilities. Due to its rapid delivery, great accuracy, and no need for human intervention, it has become the most popular logistical system in the global supply chain. Over the past few years, businesses like Zipline and United Parcel Service of America have expanded. The growing use of delivery drones for medical supplies and emergency medical services is causing the healthcare sector to grow in the market, according to the Drone Delivery Market Analysis Report. The E-commerce application area is also growing as more goods are transported and drones are employed more regularly in the online retail industry.
Global Market Size
USD 289.45 million
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Global Delivery Drones Market is segmented based on the type, end-use range, solution, and region. Based on type, the market is segmented into fixed-wing, rotary-wing, and hybrid. Based on end-use, the market is segmented into restaurant & food supply, e-commerce, healthcare, retail logistics & transportation, and others. Based on range, the market is segmented into Less than 25 km, More than 25 km. Based on solution, the market is segmented into platform, infrastructure, software, service. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Type
Based on type, The hybrid segment is expected to develop at the fastest CAGR over the projected period, owing to hybrid UAVS's superior capabilities for speedy vertical take-offs and landings and Al-based collision avoidance detections. Due to its operational suitability, hybrid drones are widely used in numerous commercial and industrial applications. Due to the additional payload carrying capacity under their bodies, multi-copter types are frequently used by service providers and logistical businesses.
It is anticipated that their superior aerodynamic structure and other technological advantages would fuel this segment's growth in the years to come. During the forecast period, the fixed-wing segment is anticipated to develop at the highest CAGR. The demand for fixed-wing drones is increasing as a result of the expanding uses for aerial photography and analysis. Future market expansion will be fueled by the rising demand for long-range UAVS.
Analysis by End-use
Based on end-use, The high demand for medical items, pathological lab samples, vaccinations, and medical equipment in various nations is expected to cause the healthcare segment to hold a leading market position during the projection period. The demand for drone delivery solutions will increase over the coming years due to the introduction of various healthcare product delivery companies on a global scale, including Zipline, Matternet, Volans, and Drone Delivery Canada Corp., particularly for healthcare delivery services. The eCommerce sector has relied on the contactless delivery system to meet client demands for a variety of products in the midst of the current COVID-19 epidemic due to temporary supply chain disruptions. Due to the advancement of faster delivery drones, the market expansion of the restaurant & food supply segment is anticipated to be driven by the increased usage of online food retail platforms, ready-to-eat meals, and food delivery services over the forecast period. Due to drone OEMs' heavy-lift delivery platforms, the retail logistics and transportation market is predicted to expand during the projection period.
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North America region dominance in drone package delivery market share is attributable to the rising trend of online shopping on e-commerce platforms and advantageous FAA regulations in the US. The growth in investments from vital players such as Zipline, FedEx, UPS, Matternet, Volans, Wing, and others to sustain startup companies for founding parcel service platforms in the region will assist the region's dominance in the market share during the forecast period.
It is anticipated that during the forecast period, the market in Europe would expand at a consistent CAGR. Through alliances and cooperation, the major technology-based businesses and numerous drone-based delivery services have established a significant presence in Europe. For instance, new medical delivery services for supplies, samples, drugs, and specimens in the hospitals will launch in July 2020 thanks to a partnership between the Scotland-based drone service operator Skyports and the technological behemoths Vodafone and Deloitte.
Because of the rising demand for online food purchases among the huge population, the market in the Asia Pacific is predicted to rise strongly. The growing popularity of online grocery shopping in developing countries like China, India, and Indonesia will fuel regional market expansion in the coming years.
The rise of drone startups across Latin America, the Middle East, and Africa is likely to drive a strong CAGR. For example, Zipline and the Kaduna State Government of Nigeria reached an agreement in February to use the drone delivery system for the healthcare supply chain, a greater patient response rate, and the delivery of life-saving vaccines, blood samples, and medical items to remote locations.
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Rising Popularity of UAVs to Boost Market Growth during Forecast Period
High Cost of Adopting Modern Technology to Hinder Market Growth
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Global delivery drones market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. The majority of the market's major players are technology-based businesses with robust product portfolios and top-notch distribution networks in both developed and developing nations. The market environment is significantly impacted by the emergence of low cost services as well as precise and safe transportation. Strategic alliances with retailers, wholesalers, and tech firms are anticipated to improve the profiles of the new market participants.
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SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our delivery drones market analysis, in terms of type, the Hybrid Drone Segment to Accelerate Market Growth Due to VTOL Capabilities and Al-based Collision Avoidance. And in terms of end-use, the healthcare sector will post a high CAGR to propel market growth. Moreover, Rising Demand for Faster and Safer Package Delivery among Various Factors and huge private investment in UAV industry Drive Market Growth.
|Market size value in 2021||USD 289.45 million|
|Market size value in 2030||USD 417.18 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Delivery Drones Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Delivery Drones Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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