New York, NY, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Drone Package Delivery Market By Solution (Platform, Infrastructure, Software, and Service), By Duration (Short Duration and Long Duration), By Range (Short Range and Long Range), By Package Size (<2KG, 2–5 KG, and >5 KG), and By Regions – Global Industry Analysis on Growth, Size, Share Trends, and Forecast, 2018 – 2025”.
According to the [195+ Pages PDF] research report, the global Drone Package Delivery Market was estimated at USD 530 million in 2019 and is expected to reach USD 6,051 million by 2026. The global Drone Package Delivery Market is expected to grow at a compound annual growth rate (CAGR) of 42% from 2020 to 2027.
Global Drone Package Delivery Market is Growing Due to Soaring Retail and E-Commerce Sector in Urban Areas and Retail Companies Leveraging New Technologies for Rapid Delivering
Drones are an unmanned aerial vehicle and are operated with different degrees of autonomy. Drone deliveries are carried out using manually operated or autonomous unmanned aerial vehicle (UAV). Drones can be used for delivering packages, food, and beverages, medical supplies, etc. The drone is used for delivering medicinal and pharmaceutical products, food and beverages, etc. Drones have up to 4-8 propellers and are rechargeable. Drones are used for packaged delivery because these UAV’s can travel through congested streets and make sure that the product is delivered quickly.
Browse through 34 Tables & 102 Figures spread over 225+ Pages and in-depth TOC on “Drone Package Delivery Market Size & Share 2020 Research Report and Global Forecast to 2026”.
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Drones were mainly developed for military applications in 2006. However, several federal authorities have allowed the use of drones for business purposes. In 2006, the U.S. Federal Aviation Administration issued the first permit for the use of drones for commercial purposes. Companies operating in industries like retail, logistics, and food and beverages are leveraging the use of drones for package delivery, as drones can travel faster than delivery vans through congested areas. Drones can ensure a quick delivery by flying over buildings and various types of obstacles. Drones are being used by companies for quick delivery in areas where delivery cars and vans are unable to reach. In 2019, Prime Air received permission to fly R&D missions in specific flight areas. Also, United Parcel Service (UPS), in 2020, partnered with Wingcopter to design and develop a delivery drone, which is expected to be used by United Parcel Service (UPS) for logistic purposes. In October 2019, Flight Forward, a subsidiary of United Parcel Service (UPS), was granted permission to operate a drone airline. Logistic and retail companies are looking for drones that can travel for longer durations and deliver packages to real-time locations. Further, many logistics companies are working with drone companies to develop drones with long ranges, ensuring delivery to rural areas.
One of the key driving factors for the market is the rising use of drones for commercial purposes. Logistic companies are using drones for reducing the time and costs associated with package delivery. Retail and logistic companies are more inclined towards using drones for the delivery of low cost as well as lightweight packages. Further, the development of autonomous drone technology by several companies is expected to create new avenues for the global drone package delivery market. The rise of technologies such as wireless charging, advanced battery technologies, long-range communication technologies, and the use of analytics for drone delivery is anticipated to create avenues for the global drone package delivery market in years ahead. However, complexity and technical barriers associated with operating drones as well as the high cost of UAVs are some of the factors that are restraining the market growth.
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Top Companies in Drone Package Delivery Market
Major companies operating in the global drone package delivery market are Edronic, FedEx, Zipline, DHL International GmbH, BIZZBY, Flirtey, Flytrex, Drone Delivery Canada Corp., Amazon.com, Inc., Boeing, Matternet, Inc., United Parcel Service of America, Inc., Cheetah Logistics Technology, Altitude Angel, Workhorse Group Inc., Airbus S.A.S., Wing Aviation LLC, DroneScan, Skycart Inc., and Fli Drone. Major companies operating in the global drone package delivery market such as Amazon.com, Inc., United Parcel Service of America, Inc., Wing Aviation LLC, DHL International GmbH, and FedEx accounted for a market share of nearly 30% in the global drone package delivery market in 2019.
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Key Segments: Drone Package Delivery Market
In terms of solution, the drone package delivery market worldwide is classified into software, infrastructure, service, and platform. Based on solutions, the service segment held the major share in the global drone package delivery market in 2019, accounting for a market share of 35% in 20199. Based on the range, the drone package delivery market is segmented into long-range and short-range. In 2019, the short-range segment held a major share in the global market, however, the long-range segment is expected to record the highest growth over the forecasted period. Based on package size, the global drone package delivery market is bifurcated into less than 2 Kg, between 2-5 Kg, and more than 5 Kg.
Drone package delivery is an autonomous vehicle used to transport packages. The long-range and short-range are the two types of drone delivery package. The radar system helps define the range of drones. The affordability and growing inclination toward online transactions are likely to surge the drone package delivery market growth. Drone package delivery has an eco-friendly plus non-invasive impact on the environment.
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Increasing demand for faster delivery services and amendments in the regulatory framework is expected to drive the market for drone package delivery. Additionally, the growing requirement for a reduction in carbon emission across the globe is predicted to bolster market growth. Furthermore, the demand for long-range delivery drones is estimated to help surge the global Drone Package Delivery market size during the forecast timeframe. The incorporation of advanced sense and avoid systems in aerial delivery drones will further boost the market expansion. Furthermore, the demand for cost-effective and light payload drones for product delivery by start-ups is also anticipated to propel the market growth. One of the vital factors anticipated to drive the demand for drones capable of delivering packages is the delivery of food packages and medicinal packages at the time of medical emergencies plus the delivery of relief goods during extreme environmental conditions or natural calamities. However, technical issues linked to the software used for the operation and casing infrastructure facilities in the drone package delivery is likely to hinder the global Drone Package Delivery market growth.
Based on geography, the market is segmented into North America, Europe, APAC, Latin America, and the Middle East and Africa. North America held a major share in the global drone package delivery market in 2019.
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Global Drone Package Delivery market is segmented into:
Global Drone Package Delivery Market: By Solution
- Platform
- Infrastructure
- Software
- Service
Global Drone Package Delivery Market: By Range
- Short Range (<25 Kilometers)
- Long Range (>25 Kilometers)
Global Drone Package Delivery Market: By Duration
- Short Duration (<30 Minutes)
- Long Duration (>30 Minutes)
Global Drone Package Delivery Market: By Package Size
- <2 Kilograms
- 2-5 Kilograms
- >5 Kilograms
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