According to the new market research report “Drone Package Delivery Market by Solution (Platform, Infrastructure, Software, Service), Type (Fixed-Wing, Multirotor, Hybrid) Range (Short <25 km, Long>25 km), Package Size (< 2Kg, 2–5 Kg, > 5Kg), Duration, End Use, Region- Global Forecast to 2030”, published by MarketsandMarkets™, the Drone Package Delivery Market is projected to grow from USD 528 million in 2020 to USD 39,013 million by 2030, at a CAGR of 53.8% from 2020 to 2030. The growth of the market across the globe can be attributed to the growing demand for fast delivery, rising amendments in regulatory frameworks to encourage drone package delivery, and increasing demand for lowering carbon emission.
Based on solution, the drone package delivery market has been classified into platform, software, infrastructure, and service. Drones are becoming accessible to smaller logistics operations for running a warehouse and are increasingly adopted in the delivery of food items, product packages, and medical supplies, among others. The growing use of delivery drones leads to the requirement for proper software and infrastructure that support them. Combined with good logistics software, drones can drastically improve efficiency.
Based on package size, the drone package delivery platform market has been segmented into <2 kilograms, 2–5 kilograms, and >5 kilograms. The <2 kilograms package size segment is anticipated to lead the drone package delivery platform market in 2020, owing to a rise in demand for lightweight retail good packages across the globe.
Based on type, the drone package delivery platform market has been segmented into fixed-wing, multirotor, and hybrid. The hybrid segment is estimated to register the highest CAGR during the forecast period. Features such as vertical landing and AI-based collision avoidance will increase the market for hybrid drones.
Based on end-use, the drone package delivery service market has been segmented into food delivery, retail goods delivery, postal delivery, medical aids delivery, precision agriculture delivery, industrial delivery, and weapon & ammunition delivery. The medical aids delivery segment is projected to lead the market during the forecast period. Drone delivery has proved to be a useful solution in the wake of the COVID-19 pandemic providing contactless deliveries and driving the market for medical aids delivery segment.
The drone package delivery market in the North American region is expected to witness substantial growth and register the highest CAGR during the forecast period. The region’s growth is attributed to the increasing trend of online shopping on e-commerce platforms and favorable FAA regulations in the US.
The market in Asia Pacific is expected to exhibit the highest market share due to the increasing demand for online food purchases among the huge population. The rising trend of online grocery purchases in emerging economies such as India, China, South Korea, and Malaysia among others will drive the regional market growth in the upcoming years.