Rockville, Nov. 29, 2022 (GLOBE NEWSWIRE) -- The global drone delivery system market is estimated to exceed US$ 6.6 billion by the end of 2023, by growing at an impressive CAGR of 14.4% over the assessment period of 2023-2033.
Several logistics and shipping companies have invested in building efficient infrastructure for parcel delivery, mostly by drones. Parcel delivery by drone is an efficient and innovative transportation service for the delivery of parcels, medical supplies, and goods. It minimizes human intervention and delivers products with high accuracy in a short time.
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United Parcel Service of America (UPS), Zipline, and other drone delivery companies are driving market growth with their high durability, small airframe structure, motion detection, and location tracking capabilities. Improved technologies such as artificial intelligence and the Internet of Things (IoT) are widely used to develop drones that work effectively and quickly in parcel delivery.
The flow of consumer goods, pharmaceuticals, and machine parts are essential to modern life and industry. Expedited logistics improve the quality of life and productivity of the people and communities they serve.
Key Takeaways from Study
- Global drone delivery system market is poised to expand at a CAGR of 14.4% reaching the valuation of US$ 25.5 billion by the end of 2033.
- On the basis of drone type, the market is projected to dominate by rotary wing sub-segment, which is projected to account for 53.7% of the market share by 2023
- By application segment, vaccine and drug delivery is likely to account for 23.1% of revenue share by obtaining a valuation of US$ 1.5 billion in 2023.
- Under load capacity segment, 2-5 kg drone is estimated to account for approximately a 32.5% share of aftermarket sub-segment in 2023.
- South Asia & Oceania region is expected to register a CAGR of 11.1% over the forecast period, to be valued at US$ 737.5 million by 2023 end.
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Market Development
Demand for drone delivery systems will experience an upward trend due to increasing drone sales. It has been adopted in countless delivery applications in various countries. These system providers should also focus their attention on autonomous drones.
Few projects are in the process; they were designed to be applied across drones programmed to fly autonomously that is without the need for remote control. To enable it to navigate the factory, the drone can be equipped with a sensor system that can recognize features within the factory.
Competitive Landscape
The major players in the market are technology-based companies with strong product portfolios and excellent distribution networks in both developed and emerging countries. Large players such as Zipline International and UPS are expected to capture a dominant share during the forecast period.
The implementation of cost-effective services and safe and accurate transportation are major factors influencing the market. Partnerships with wholesalers, retailers, and technology-based companies are aimed at attracting new entrants to this market.
In May 2020, Zipline International has been collaborating with the U.S. FAA based on the drone delivery concept specifically for small pilot projects. The company utilized autonomous drones to deliver about 1.8 kg pound cargo in the range of 80 Km, dropping the package with the help of a parachute for a stable and safe landing.
Fact.MR has provided detailed information about the price points of key manufacturers of drone delivery system positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Key Companies Profiled
- Airbus
- Amazon
- Boeing
- DHL
- Elroy Air
- Flytrex Inc
- Matternet
- Swoop Aero
- United Parcel Service of America, Inc
- Volkswagen AG
- Wing Aviation LLC
- Wingcopter
- Wisk Aero LLC
- Zing
- Zipline International Inc
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Segmentation of Drone Delivery System Industry Research
- By Drone Type :
- Fixed Wing
- Hybrid
- Rotary Wing
- By Load Capacity :
- Less than 2 kg
- 2 - 5 kg
- 5 - 10 kg
- Above 10 kg
- By Application :
- Vaccine and Drug Delivery
- Food Delivery
- Mail Delivery
- Grocery Delivery
- Consumer Electronics Delivery
- Others
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia and Oceania
- Middle East & Africa
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global drone delivery system market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033. The study divulges essential insights on the market on the basis of drone type (fixed wing, hybrid, rotary wing), load capacity (less than 2 kg, 2-5 kg, 5-10 kg, above 10 kg), application (vaccine and drug delivery, food delivery, mail delivery, grocery delivery, consumer electronics delivery, others) and across six major regions (North America, Latin America, Europe, East Asia, South Asia and Oceania, Middle East & Africa).
Check out more related studies published by Fact.MR Research:
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Drone Motor Market: The global drone motor market is set to enjoy a valuation of US$ 1,684.8 million in 2022 and further expand at a CAGR of 19.2% to reach US$ 9,771.0 million by the end of 2032. Sales of drone motor market accounted for nearly 3% in global commercial & consumer drone component market at the end of 2021.
Agriculture Drone Market: The global agriculture drone market is set to enjoy a valuation of US$ 3,807.0 million in 2023 and further expand at a CAGR of 14.1% to reach US$ 14,237.6 million by the end of 2033. In 2023, the global drone market is estimated to have around 7.6 million unit shipments, while the drone market is projected to grow at 15.3% CAGR.
Search and Rescue Drone Market: The search and rescue drone market is estimated to reach valuation of US$ 3,254.4 Million in 2023 and will top US$ 11,648.1 Million by 2033, growing with a CAGR of around 13.6% from 2023-2033. In 2023, the global drone market is estimated to be valued around US$ 33.9 billion, while the drone market is projected to grow at 17.6% CAGR.
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