Pune, India, Nov. 15, 2021 (GLOBE NEWSWIRE) -- The global drone package delivery market size is anticipated to reach USD 31,188.7 million by 2028 and exhibit a CAGR of 53.94% during the forecast period 2021-2028. The market size stood at USD 988.9 million in 2020. The growing demand for safer and faster package delivery based on artificial intelligence (AI) and the surging investments in the UAV industry is projected to bolster the market growth.
The increasing global warming due to surging levels of carbon emissions has resulted in ideal growth opportunities for drone package delivery. It has created immense demand, especially for the last-mile delivery of some products. Hence, the increasing development of drone delivery infrastructure is likely to foster growth for the market in the coming years.
Segmentation:
On the basis of type, the market is trifurcated into hybrid, rotary-wing, and fixed-wing. On the basis of package size, the market is segmented into above 5 Kg, 2-5 Kg, and less than 2 Kg. On the basis of end-use, the market is fragmented into retail logistics & transportation, healthcare, e-commerce, restaurant & food supply, and others. Geographically, the Drone Package Delivery market is classified into four major regions: Asia Pacific, Europe, North America, and the Rest of the World.
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Key Players Profiled in this Drone Package Delivery Market are:
- Amazon Inc. (Seattle, Washington, U.S.)
- FedEx (Memphis, Tennessee, U.S.)
- UPS Flight Forward Inc. (Atlanta, Georgia, U.S.)
- Deutsche Post DHL Group (Bonn, Germany)
- Matternet Inc. (Mountain View, California, U.S.)
- Zipline Inc. (South San Francisco, California, U.S.)
- Flirtey Holdings Inc. (Reno, Nevada, U.S.)
- Drone Delivery Canada Corp. (Vaughan, Ontario, Canada)
- Flytrex Aviation Ltd. (Tel Aviv, Israel)
- Workhorse Group Inc. (Loveland, Ohio, U.S.)
- Wing Aviation LLC (Mountain View, California, U.S.)
- Skycart Inc. (San Jose, California, U.S.)
- Altitude Angel Limited (Reading, U.K.)
- Manna Drones Inc. (Dublin, Ireland)
- Wingcopter GmbH (Darmstadt, Hessen, Germany)
- Volansi Inc. (Concord, California, U.S.)
- Swoop Aero Pty. Ltd. (Docklands, Victoria, Australia)
Drivers & Restraints-
Infrastructural Development to Augment Market Growth
The sudden emergence of the coronavirus pandemic and the increasing global warming have created lucrative opportunities for the market. The commercialization of UAV services during the pandemic has created immense demand for the platform. It has created immense demand for drone package delivery, especially for the last-mile delivery of some products. Hence, the increasing development of drone delivery infrastructure due to these factors is likely to augment the global drone package delivery market growth in the coming years.
The key players in the Drone Package Delivery market are developing cost-effective technologies and components to carry heavy payloads for long distances. The growing demand for safer and faster package delivery based on artificial intelligence (AI) has resulted in increased private investments in recent years due to the growing popularity of drones. The increasing investments in the industry to develop cost-effective technologies and components are likely to boost the drone package delivery market growth. However, the high costs of the drone-based infrastructure are expected to restrain the growth of the market.
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Regional Insights-
Growing Online Shopping Trend to Fuel Market Growth in North America
North America is projected to emerge dominant in the global drone package delivery market share due to the growing online shopping trend on e-commerce platforms. The increasing investments by key players, including UPS, FedEx, Volansi, Zipline, and others, are likely to complement the market’s growth. Additionally, the favorable FAA regulations in the U.S. are also expected to favor the growth of the market.
Europe is expected to witness steady growth due to the growing number of collaborations and partnerships in the market. For instance, Skyports entered into a strategic partnership with Deloitte and Vodafone in July 2020 to commence medical delivery services for medicine, samples, and supplies in the hospitals.
Asia Pacific is anticipated to gain substantial growth in the coming years. The growing demand for online food shopping by the huge populace and the rising online grocery shopping trend observed in India, Indonesia, and China are projected to boost the market growth.
The Rest of the World is likely to grow in the global drone package delivery market due to the increasing number of drone startups in the region.
Competitive Landscape-
Key Players Adopt Partnerships & Collaborations to Accumulate Growth in the Market
The market mainly comprises technology-based companies with robust product offerings and excellent distribution networks across developing and developed economies. The Deutsche Post DHL, UPS, and Zipline International hold dominance in the market. The key players emphasize developing safe, accurate, and low-cost services in the market. The businesses operating in the market are devising innovative growth strategies such as new product launches, technological developments, mergers, partnerships, acquisitions, and collaborations to gain growth impetus.
For instance, Drone Delivery Canada Corp. signed a commercial agreement with DSV Air & Sea Inc. Canada in June 2021 to renew and extend the existing contract for drone delivery services.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments –Mergers, Acquisitions, and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
TOC Continued…!
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