Chicago, Aug. 19, 2022 (GLOBE NEWSWIRE) -- Drone Logistics and Transportation Market size is estimated to be USD 534 million in 2022 and is projected to reach USD 17,881 million by 2030, at a CAGR of 55.1%, according to a new report by MarketsandMarkets™. The growth of the market across the globe can be attributed to surging demand for quick, instant, same day delivery, and emergency supplies and rising amendments in regulatory frameworks to encourage drone logistics and transportation. Besides, new technologies such as artificial intelligence, sense & avoid systems, and cloud computing in drones, demand for them is expected to increase in various sectors. The incorporation of artificial intelligence in UAVs is expected to enhance their abilities to carry out take-off, navigation, data capture, data transmission, and data analysis without human intervention.
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Based on platform, the freight drone segment is projected to lead the drone logistics and transportation market during the forecast period.
Based on platform, the drone logistics and transportation market has been classified into freight drone, passenger drone, and air ambulance drone. Among these, the freight segment registered the highest market share in base year. The freight drone segmnet is further sub-divided into delivery drones and cargo drones. The delivery drones are anticipated to lead the market with a CAGR of 54.6% during the forecast period. Delivery drones have a low payload capacity and are being readily accepted across verticals to deliver parcels, food, and retail goods.
Based on solution, the software segment is projected to grow at highest CAGR during 2022-2030.
Based on solution, the drone logistics and transportation market has been segmented into hardware, software, and infrastructure. The software segment is anticipated to grow at the highest compound annual growth rate during the projection period. This growth is attributed to the rising technological developments in the field of commercial and military drones are increasing the need for advancements in software technologies.
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The Asia Pacific region is projected to be high growth potential markets for the drone logistics and transportation during the forecast period.
The Asia Pacific region is expected to lead the drone logistics and transportation market from 2022 to 2030, followed by North America. The Asia Pacific drone logistics and transportation market is projected to grow at the highest CAGR during the forecast period.
Major players in the Drone logistics and transportation market are Alphabet Inc. (US), Hardis Group (France), Zipline (US), Volocopter GmbH (Germany), and Textron Inc. (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 logistics and transportation drone platforms.
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