Drone Package Delivery Market Size, Global Demand & Upcoming Trends Forecast 2019-2027, Fortune Business Insights™
Theglobal drone package delivery market size is projected to reach USD 7,388.2 millionby 2027, exhibiting a CAGR of 41.8% during the forecast period.Widespreaddeployment of drones to deliver medical and food supplies amid the COVID-19pandemic is expected to aid the market make substantial gains, observes FortuneBusiness Insights™ in its report, titled “Drone Package Delivery Market Size,Share &COVID-19 Impact Analysis, By Type (Fixed Wing and Rotary Wing), ByPackage Size (Less Than 2 Kg, 2-5 Kg, and above 5 Kg), By End Use (Restaurant& Food Supply, E-commerce, Healthcare, Retail Logistics &Transportation and others), and Regional Forecast, 2020-2027”.
Thecoronavirus has forced people to maintain social distance to avoid contractingthe infection, which has made the delivery of essential supplies difficult,particularly in remote regions. In response, several drone service companieshave risen to the occasion and are supporting governmental efforts to provideaid to distressed areas. For example, the drone company, Zipline, has been deliveringcritical medical supplies to clinics in Ghana and Rwanda in Africa during thepandemic period. In Canada, Drone Delivery Canada will be deploying itsmulti-rotor drone, Sparrow, to provide COVID-19 cargo to the Beausoleil FirstNation Community in Ontario. Similarly, in China, JD Logistics utilized dronesto deliver commercial and medical cargo in the Hubei and Wuhan provinces. TheCOVID-19 pandemic has, therefore, given a booster shot to this market,escalating the adoption of unmanned aerial systems worldwide.
Thereport states that the market value stood at USD 642.4 million in 2019 andshares the following information:
· Comprehensivedepiction of the industry outlook and trends;
· Detailedinsights into the upcoming opportunities in the market for drone packagedelivery;
· Tangibleanalysis of the market drivers, restrains, and all possible segments; and
· In-depthassessment of the regional and competitive dynamics impacting the market.
DrivingFactor
Emergenceof Drone Startups in Logistics to Augment Market Potential
The growing demand for enhancing theefficiency of logistics operations has triggered a sudden emergence of startupsspecializing in drone technologies to cater to these needs. For example,DroneScan, a South Africa-based startup, designs drones that transmits livedata of scanned items in warehouses, making inventory management more efficientand upping the productivity quotient of workers. An Italy-based startup,Archon, provides autonomous robotic drone services to facilitate supervised aswell as unsupervised inspection of warehousing and logistics operations. Thedrone startup culture is gathering momentum in developing countries as well.For example, in India, several startups have spawned in the past few years thatare providing next-gen drone services. Aarav Unmanned Systems, for instance,was started in 2013 and is India’s first drone company to develop dronesolutions for commercial applications in the public and private sectors. Thesedevelopments are expected to power the drone package delivery market growth inthe forthcoming years.
BrowseSummary of This Research:
https://www.fortunebusinessinsights.com/drone-package-delivery-market-104332
RegionalInsights
NorthAmerica to Top Other Regions Backed by Rising Preference for Drone Deliveriesby Shoppers
North America is set to dominate thedrone package delivery market share during the forecast period owing to theincreasing inclination of online shoppers towards delivery of goods throughunmanned aerial vehicles (UAVs). With a market size of USD 237.7 million in2019, the region is likely to retain its leading position, which will besupported by the strong financial support to drone startups in the US andCanada.
In Europe, the market is anticipatedto be driven by the growing presence of tech companies that are expanding theiroperations in the region through collaborations and partnerships. Asia Pacificis expected to create exciting opportunities for market players on account ofthe emerging trend of online purchasing of groceries in the large cities ofIndia, China, and Indonesia.
CompetitiveLandscape
SupportiveRegulations to Novel Ideas to Feed Competitive Ardor of Key Players
With the scope for innovationwidening, key players in the market drone package deliveries are engaged incoming up with novel drone solutions, especially during the current coronaviruscrisis. Supporting their efforts are regulatory bodies that are easing flyingnorms and rules to ensure timely delivery of essential supplies to people.
IndustryDevelopments:
· August 2020: Amazon secured clearance from theFederal Aviation Administration (FAA) to deploy its Prime Air delivery dronefleet to efficiently and securely deliver packages to customers. Amazon is nowthe third company to receive FAA approval to operate drones on a commercialscale after UPS and the Alphabet-owned company, Wing.
· May 2020: Wing, a subsidiary of Google’sparent company Alphabet, announced that it has made thousands of dronedeliveries in Australia during the pandemic. Launched in Canberra in 2019, thedemand for Wing’s services rose by 500% between February and April 2020.
Listof Key Companies Profiled in the Market:
· DroneScan (South Africa)
· CheetahLogistics Technology (US)
· Flytrex(Israel)
· Flirtey(US)
· Matternet,Inc. (US)
· Boeing(US)
· Amazon Inc. (US)
· WingAviation LLC (US)
· WorkhorseGroup Inc. (US)
· DroneDelivery Canada Corp. (Canada)
· Zipline(US)
· DHL International GmbH (Germany)
· United Parcel Service of America,Inc. (US)
· FedEx (US)
BrowseSummary of This Research:
https://www.fortunebusinessinsights.com/drone-package-delivery-market-104332
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