PUNE, India, Nov. 05, 2020 (GLOBE NEWSWIRE) -- The Global Drone Logistics and Transportation Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
The Global Drones Logistics and Transportation Market was estimated to generate revenue worth US$ 9.9 billion in 2019 and is estimated to reach US$ 44 billion by 2030 at a CAGR of 16%. Drones are gaining popularity across wide range of industries owing to continuous evolution of the technology used to operate and develop drones. With focus on military applications, the drones have witnessed increased adoption across commercial applications globally. The drone manufacturers are focusing of incorporating advanced technologies such as AI, blockchain and wireless charging to improve the performance of the drones. The demand for drones in transportation and logistics across commercial and military applications has witnessed prominent growth during past couple of years.
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The emergence of e-commerce has contributed significantly towards the growth of drone logistics and transportation market. Drones are being increasingly used for delivery of goods and warehousing of products in e-commerce warehouses. The drone manufacturers are continuously engaged in product innovations to gain a competitive edge in the market, thereby intensifying competition in market. Moderate initial investment requirements and expanding applications base has accelerated the entry of new manufacturers into the market. However, enforcement of stringent regulatory framework across the globe is expected to limit the entry of new players to the global market. The problems associated with battery life and connectivity are major growth inhibitors to the global drone logistics and transportation market. Though the current drones are witnessing battery and bandwidth impediments, the product innovation is anticipated to mitigate thee problems and is expected to offer prominent opportunities during the forecast period.
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Rising demand for drones in first mile and last mile delivery to drive the growth of market
The global drone logistics and transportation market is segmented on the basis of drone type, solutions, end use, and geography. Based on drone type, the global drone logistics and transportation market is segmented into freight drones, passenger drones, and ambulance drones. The freight drones contributed the largest share to the global market in 2019 and is anticipated to witness prominent growth during the forecast period owing to rising demand from first mile and last mile delivery of goods. Growing investment in development of passenger drones or virtual takeoff and landing vehicles is expected to contribute towards the growth of the global drone logistics and transportation market during the forecast period.
The commercial drones to drive growth of the market fueled by expanding e-commerce industry
Based end use, the global drone logistics and transportation market is segmented into commercial and military. The commercial segment contributed the largest share to the global market in 2019 owing to expanding e-commerce industry and rapid adoption of drones in last mile delivery applications. The military applications are anticipated to witness steady growth during the forecast period.
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Based on geography, the global drone logistics and transportation market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America contributed the largest share to the global drone logistics and transportation market in 2019 and is expected to grow prominently during the forecast period owing to increased adoption of drones for freight delivery by major e-commerce players and parcel delivery service providers. Availability of connectivity infrastructure and early adoption of advanced technologies is expected to contribute towards the growth of North America drone logistics and transportation market during the forecast period. Asia Pacific is anticipated to be the fastest growing geography during the forecast period owing to increased investment in development of connected infrastructure and rising adoption of drones across major countries in Asia.
Major players active in the global drone logistics and transportation market include Amazon.com Inc., CANA Advisors, DHL International GmbH, Drone Delivery Canada, DroneScan, FedEx, Hardis Group, Infinium Robotics, PINC Solutions, Skysense, Inc., Uber Technologies Inc., Unifly NV, United Parcel Service of America, Inc., and Volocopter GmbH.
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