Drone Logistics and Transportation Market Trend
Drone Logistics and Transportation Market Size is projected to reach USD 35,170 Million by 2030 at a CAGR of 56% from 2021 to 2030.
The growing usage of unmanned aerial vehicles (UAVs) for commercial and military applications is anticipated to be a key factor driving the global Drone Logistics and Transportation Market 2020. The extensive application of drones in border surveillance, aping, precision agriculture, and aerial remote sensing are predicted to increase the demand for drone logistics and augment the market during the forecast period. Furthermore, the surging popularity of e-commerce trade is expected to boost the requirement of drone logistics, which can strengthen the market in the review period.
On the flip side, issues related to battery life and limited availability of expertise are anticipated to hamper the market growth during the forecast period. However, the increasing demand to reduce operational costs along with above-mentioned factors are predicted to counter the impeding factors and can increase the demand and grow the market during the forecast period.
Market USP
The growing need to reduce shipping and operational costs is expected to increase the adoption of drone logistics and transportation services.
Market Segmentation
The segmental analysis of the global drone logistics and transport market is done by solution, application, and drone.
The solution-based segments of the global drone logistics and transport market are shipping, warehousing, infrastructure, and software. Among all, the software segment is anticipated to register the highest CAGR during the projection period.
The application-based segments of the global drone logistics and transport market are commercial and military. Between these two segments, the commercial segment is predicted to exhibit a higher growth rate during the forecast period from 2019 to 2028.
The drone-based segments of the global drone logistics and transport market are freight drones, passengers drone, and ambulance drones. Among all, the freight drones segment is projected to dominate the market. It is also likely to be the fastest-growing segment during the review period.
Key Players
The established entities of the global Drone Logistics and Transportation Market Player are FedEx (US), DHL International GmbH (Germany), Drone Delivery Canada (Canada), Amazon (US), PINC Solutions (US), Hardis Group (France), DroneScan (South Africa), Infinium Robotics (Singapore), and Altitude Angel (UK).
Regional Analysis
Based on the region, the global market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
As per the assessment, North America is expected to dominate the global market during the forecast period owing to the robust presence of drone transportation and logistics service providers. The region is anticipated to be the largest market shareholder during the review period. Besides, the technological development in drone logistics and transport is likely to be another potential cause, which can augment the market in the coming period.
Europe is predicted to acquire the second position and grow at a steady pace during the review period owing to the growing collaborations between drone logistics and transportation service providers.
The APAC region is anticipated to be the fastest-growing region during the forecast period owing to the active participation of evolving economies like India, China, and Japan. Further, the fast adoption of drones by various renowned e-commerce entities like Alibaba and others can develop the regional market in the coming period.
The MEA region is likely to acquire a small amount of market share during the review period. The region is likely to progress owing to the participation of Middle East countries like Saudi Arabia, Qatar, and others owing to their economic stability.
Growth Opportunities in the Market
- Software segment to register the highest growth rate: The software segment is expected to exhibit the highest CAGR during the forecast period. The growing adoption of drone delivery software to ease operations is expected to drive the growth of the segment. Software solutions offered by companies such as Fly Base, Inc. provide real-time parcel tracking information, drone fleet management, and precise landing and delivery location.
- Freight drones to remain a popular choice: The freight drones segment dominated the market in 2018 and is expected to register the highest CAGR during the forecast period. The growing adoption of freight drones for the speedy delivery of goods is expected to drive the growth of the segment.
- Commercial segment expected to exhibit the higher CAGR: The commercial segment is expected to register the higher CAGR during the review period. Investments by e-commerce giants such as Amazon and Alibaba in drones for speedy delivery services and reduced operational costs are expected to drive the growth of the segment.
Drone Logistics and Transportation Market Research Report: Information by Solution (Shipping, Warehousing, Infrastructure and Software), Drone (Freight Drones, Passenger Drones and Ambulance Drones), Application (Commercial and Military) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) - Forecast till 2030
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