Dublin, Oct. 29, 2024 (GLOBE NEWSWIRE) -- The "Cargo Drones Market by Solution (Avionics, Route Planning & Optimization, Ground Control Stations), Payload (10-49 Kg, 50-149Kg, 150-249 Kg, 250-449 Kg, 500-499 Kg, 500-999 Kg, >1,000 Kg), Industry, Range, Type, and Region - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The cargo drones market is projected to reach USD 8.92 billion by 2030, from USD 1.53 billion in 2024, at a CAGR of 34.2% from 2024 to 2030. The volume of cargo drones is projected to grow from 445 (in Units) in 2024 to 2,746 (in Units) by 2030
This report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall cargo drones market and its subsegments. The report covers the entire ecosystem of the cargo drones market. It will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
The market is expanding because to rising investments in drone technology, initiatives to minimize CO2 emissions, and the requirement for shipments to be delivered faster and more effectively. This expansion is partly being facilitated by declining drone component prices. Global implementation of laws is projected to drive market expansion, even though regulatory development may initially hinder progress. The absence of adequate air traffic management persists as a challenge, despite technological developments improving drone capabilities and lowering costs.
The North America region is forecasted to grow at the fastest rate during the forecast period. Throughout the forecast period, the constant innovation of delivery drone technology and the presence of leading industry participants are projected to be the main factors driving the growth of the North American cargo drones market.
Through laws like the Remote ID rule, which requires all drones to have tracking and identification devices, the Federal Aviation Administration (US) supports the growth of this industry. Drone integration into national airspace is facilitated and safety is improved by this regulatory framework. The cargo drone market in this region is expected to grow significantly, highlighting its key position in the future of international cargo drone operations, because to further technology advancements and supporting laws.
Natilus (US), Dronamics (UK), Sabrewing Aircraft Company (US), Elroy Air (US), and Silent Arrow (US) are some of the leading players operating in the cargo drones market.
Based on industry, retail segment is estimated to capture largest share in the market during the forecast period
The retail industry has the biggest market share, mostly because it is embracing drone technology more and more to improve delivery times and operational effectiveness. Given the rising demand for e-commerce, customers are ready to accept drone delivery if it means they may receive their items faster. This change is fueling the expansion of e-commerce and the demand for an online presence. Drone deliveries are therefore becoming more and more necessary since they offer a timely and cost-effective service that increases customer satisfaction and maintains the retail sector's dominant position in the market.
Based on payload, the >1,000 Kg segment forecasted to grow at highest CAGR during forecast period
The segment for payloads >1,000 kg is emerging as the largest and fastest-growing within the cargo drones market. The continuous improvements in cargo aircraft manufacture have led to a noteworthy rise in the capacity, effectiveness, and performance of these high-capacity drones. Advances in design and technology have made it possible for these drones to reliably handle loads that are increasing larger. Heavy-duty cargo drones are gaining popularity because of their improved capacity to handle growing logistical requirements and transport large payloads.
The report provides insights on the following pointers:
- Analysis of key Drivers (Demand for efficient, cost-effective, and faster movement of shipments, increasing investments in cargo drones, reduction in CO2 emission and carbon footprint, and reducing prices of drone components), restrains (Lack of skilled and well-trained drone operators, cybersecurity and drone safety concerns, and uncertainty in regulations), opportunities (Increasing B2B middle-mile Logistics, Different value chain levels for vendors, Increasing use of cargo drones in military operations, and Smart city initiatives) and challenges (Restrictions on commercial use of drones in various countries, Complexity in implementation of ground infrastructure, Lack of unmanned traffic management infrastructure for cargo drones, and sudden changes in weather conditions) influencing the growth of the market.
- Product Development/Innovation: Detailed Insights on upcoming technologies, R&D activities, and new products/solutions launched in the market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the cargo drones market across varied regions
- Market Diversification: Exhaustive information about new solutions, recent developments, and investments in the cargo drones market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Natilus (US), Dronamics (UK), Sabrewing Aircraft Company (US), Elroy Air (US), and Silent Arrow (US) among others in the cargo drones market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 356 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $1.53 Billion |
| Forecasted Market Value (USD) by 2030 | $8.92 Billion |
| Compound Annual Growth Rate | 34.2% |
| Regions Covered | Global |
Companies Featured
- Natilus
- Dronamics
- Silent Arrow
- Sabrewing Aircraft Company
- Elroy Air
- Volocopter GmbH
- Dufour Aerospace
- Boeing
- Airbus
- Pipistrel
- Ehang
- Bell Textron Inc.
- Kaman Corporation
- Bae Systems
- Drone Delivery Canada Corp.
- Flyingbasket
- Arc Aero Systems
- H3 Dynamics
- Raphe
- Skyports Infrastructure Limited
- Steadicopter
- Vtol Aviation India Pvt Ltd
- Phoenix-Wings GmbH
- Aeronet
- Uavos Inc.
For more information about this report visit https://www.researchandmarkets.com/r/mhsu7i
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