New York, April 13, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Drone Package Delivery Global Market Report 2023" - https://www.reportlinker.com/p06229764/?utm_source=GNW
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The global drone package delivery market grew from $1.46 billion in 2022 to $2.10 billion in 2023 at a compound annual growth rate (CAGR) of 43.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The drone package delivery market is expected to grow to $9.21 billion in 2027 at a CAGR of 44.7%.
The drone package delivery market includes revenues earned by entities by providing services such as on-demand drone delivery, and cargo delivery services.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Drone package delivery refers to the services that deliver packages through drones.Delivery drones are unmanned aerial vehicles (UAVs) capable of carrying lightweight packages.
Delivery drones are functioned independently or remotely, with controllers theoretically monitoring several drones at one time.
North America was the largest region in the drone package delivery market in 2022. The regions covered in the drone package delivery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The drone package delivery market covered in the report is segmented by drone type into fixed wing, rotor drone, hybrid drones, by range into short <25 kilometers, long >25 kilometers, by package size into < 2 kilograms, 2 – 5 kilograms, > 5 kilograms, by application into e-commerce, quick service restaurant, convenience stores, healthcare, others.
The increasing demand for drone deliveries during COVID-19 is expected to propel the growth of the drone package delivery market in the coming years.During the COVID-19 period, contactless distribution increased, and drones played a crucial role in ensuring that companies and clients communicated as little as needed.
Drones are heading to the sky in massive numbers during the pandemic to bring vital goods and drugs to populations under lockdown.In recent weeks of 2020, Alphabet’s drone delivery company Wing has seen a major rise in demand as individuals comply with social distancing guidelines during the COVID-19 outbreak.
Many individuals have been using the service in recent months as the COVID-19 pandemic continues, and Wing found that between February 2020 and April 2020, also in Australia, the use of its service increased by 500%. Therefore, the increasing demand for drone deliveries during COVID-19 drives the growth of the drone package delivery market.
The high cost of drone deliveries is expected to impede the growth of the drone package delivery market over the coming years.Delivery drones or unmanned aerial vehicles are unmanned aircraft delivering items to a specified location.
Drones are costly because of all the modern technologies that need to enable them to fly longer, be safer, and avoid hurdles. United parcel service (UPS) charges its customers $12.92 to ship a parcel through drones, but the real average price of shipping one product along a path they are already delivering is likely to be nearer to $2. Therefore, the high cost of drone deliveries is expected to hamper the growth of the drone package delivery market.
The growing technological advancements are a key trend gaining popularity in the drone package delivery market.Over the last several years, drones have become extremely prevalent as many individuals and organizations completely accept and incorporate this technology into their business model.
For instance, in May 2022, Skyway, an air traffic navigation provider partnered with Zing Drone Delivery, tested their first-ever food product delivery by drone. Zing’s advanced delivery systems were used in cooperation with strategic partners to bring its services to the area.
In June 2020, PDI Software, an America-based software provides ERP, Fuel Pricing, Logistics, and Marketing Cloud solutions for the convenience retail and petroleum wholesale industries company that acquired Zipline for an undisclosed amount.This acquisition strengthens the PDI Marketing Cloud Platform giving businesses everything they need in a loyalty solution, including customer engagement tools, offers, insights, and integrated digital payments.
Zipline is a US-based Logistics & Supply Chain company.
The countries covered in the drone package delivery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The drone package delivery market research report is one of a series of new reports that provides drone package delivery market statistics, including drone package delivery industry global market size, regional shares, competitors with a drone package delivery market share, detailed drone package delivery market segments, market trends and opportunities, and any further data you may need to thrive in the drone package delivery industry. This drone package delivery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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