Pune, India, July 2020, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Drone Package Delivery System Market.
Global Drone Package Delivery System Market is expected to reach USD 744.2 Million by 2030, growing with a 38.79% CAGR during the forecast period.
Due to traffic congestions, there has been a significant delay in the delivery of retail goods, food, medicines, and postal delivery in urban areas. Thus, there has been an increasing demand for faster package delivery services in urban areas. Therefore, the demand for drones has been increasing for package delivery applications in the last few years.
Global Drone Package Delivery System Market has been segmented based on Solution, Duration, Range, Package Size and End Use.
Based on solution, the global drone package delivery system market has been segmented into platform, software, infrastructure, and service. The platform segment dominated the market with a valuation of USD 318.4 million in 2019; it is projected to reach a valuation of USD 11,404.4 million by 2030. Platform includes the type of drones that would be required for parcel delivery. Drone types are selected based on their end use, such as long-distance delivery and emergency (i.e., short distance) delivery, among others. Moreover, companies entering or expanding their presence within the drone package delivery market need to consider drone platforms of the utmost importance before designing strategies.
Based on duration, the global drone package delivery system market has been classified into short duration (<30 Minutes) and long duration (>30 Minutes). The long duration segment is expected to exhibit the higher CAGR of 39.63% during the forecast period. These drones include long-range beyond visual line of sight (BVLOS) drones that are capable of flight times of over 30 minutes. These drones have a higher payload carrying capacity and a larger battery to sustain longer flight durations. Furthermore, these drones are expected to be used in e-commerce parcel delivery applications for their high payload carrying capacity.
By range, the global drone package delivery system market has been divided into short range (<25 Kilometers) and long range (>25 Kilometers). The short range segment is expected to hold the larger market share and was valued at USD 530.0 million in 2019. Drones with a range of less than 25 kilometers are expected to be used for medical emergency applications. These drones are usually multirotor drones with a low load-carrying capacity to consume less battery and deliver parcels over a smaller distance. The cost of these drones is relatively low and features a simple construction.
Based on package size, the global drone package delivery system market has been classified into <2 kilograms, 2–5 kilograms, and >5 kilograms. The <2 kilograms segment is expected to exhibit the highest CAGR of 38.30% during the forecast period. Drones with a payload-carrying capacity of less than two kilograms are included under this segment. These drones are typically used for delivering parcels such as small medical packages, postal deliveries, and food delivery. Companies such as UPS Flight Forward Inc., a subsidiary of UPS, and Swiss Post have taken initiatives towards implementing drones for parcel delivery applications.
By end use, the global drone package delivery system market has been divided into retail goods delivery, food delivery, postal delivery, medical aids delivery, and others. The retail goods delivery segment is expected to hold the larger market share and was valued at USD 284.2 million in 2019. Package delivery drones are expected to be largely used for the delivery of retail goods. E-commerce companies are expected to be the early adopters of drones for the delivery of parcels. Companies such as Amazon Inc. and Alphabet Inc. have been on the forefront towards developing retail drone package delivery solutions, which is expected to drive the growth of this segment in the global market.
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The geographic analysis of the global drone package delivery system market covers North America, Europe, Asia-Pacific, the Middle East, and the rest of the world.
North America led the market with a valuation of USD 309.3 million in 2019, and the regional market is expected to reach USD 27,401.2 million by 2030 at a 38.05% CAGR during the forecast period. This can be attributed to the presence of major services providers, such as Workhorse, Matternet, Inc., and Amazon.com, Inc. in the region.
Europe was the second-largest market with a valuation of USD 161.7 million in 2019. The European market is projected to exceed USD 6,164.1 million by 2030 at 39.20% CAGR during the review period. Asia-Pacific is expected to be the fastest-growing market for drone package delivery system services during the review period.
The key players in the global drone package delivery system market are FedEx (US), United Parcel Service of America, Inc. (US), Deutsche Post AG (Germany), Amazon.com, Inc. (US), Matternet, Inc. (US), EHANG (China), Volocopter GmbH (Germany), Drone Delivery Canada (Canada), Airbus S.A.S. (Netherlands), Workhorse (US).