29.JPG)
The Global Cargo Drones Market Size is valued at USD 936.2 million in 2023 and is predicted to reach USD 11578.65 Million by the year 2031 at 37.15% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- Increasing demand for quick and dependable delivery services and technology improvements are the main factors supporting the growth of the cargo drone market.
- The market is being propelled further by the rise in research and development spending on cargo drone development.
- North America dominated the market and accounted for a global revenue share in 2023.
- The high start-up costs and strict drone operation regulations will likely restrain the market growth.
Drones are increasingly often employed in logistics management and transportation due to the quick evolution of technology. Many companies worldwide are using drones to handle their supply chain management systems. Drones are used for various purposes, including crop inspections, land surveying, mining activities, etc. Additionally, buyers are willing to pay more to have products delivered on the same day, suggesting growth in demand for quicker and more cost-effective delivery, especially in the e-commerce sector. The use and acceptance of drones in logistics and transportation will probably expand due to this demand.
Furthermore, drones for logistics and transportation are undergoing significant testing in several industries, including postal delivery, health insurance, the transfer of pharmaceuticals, including drugs, blood, organs, and machinery, as well as e-commerce, delivery services, and food delivery. This indicates that distribution using drones should cost 60% less. Drones are also simpler to control than ground-based vehicles as a fleet.
Recent Developments:
- In Feb 2024, BAE Systems acquired Malloy Aeronautics, a British heavy lift UAS business, to expand its existing unmanned aircraft portfolio. The acquisition of Malloy Aeronautics is part of the company's continued goal to create and invest in breakthrough technologies that complement existing capabilities and offer clients with the innovation they demand in response to changing requirements.
- In November 2021, Drone Delivery Canada (DDC) reported that the first test of their newest Sparrow unmanned aerial system was completed successfully (UAS). The drone's propulsion system, communications with the Flyte management system, next-generation smart battery system, and its onboard sensors were all teste
Competitive Landscape:
Some of the Cargo Drones market players are:
- Airbus
- Airspace Experience Technologies Inc.
- Arc Aerosystems
- Bae Systems
- Bell Textron Inc.
- Dronamics
- Drone Delivery Canada Corp.
- Dufour Aerospace
- Ehang
- Elroy Air
- Flying Basket
- Gadfin
- H3 Dynamics
- Kaman Corporation
- Natilus
- Phoenix Wings
- Pipistrel
- Sabrewing Aircraft Company
- Silent Arrow
- Singular Aircraft
- Skyports Infrastructure Limited
- Steadicopter
- The Boeing Company
- Uavos Inc.
- Volocopter Gmbh
Market Segmentation:
The Cargo Drones market is segmented by solution, industry, range, payload, and type. Based on the solution, the demand is segmented as platform, software, and infrastructure. By industry, the market is segmented into retail, healthcare, agriculture, defense, and maritime. By payload, the market is segmented as 10-49 Kg, 50-149 Kg, 150-249 Kg, 250-499 Kg, 500-999Kg, and above 1000 Kg. Based on range, the market is segmented as close-range, short-range, mid-range, and long-range. By type, the market is divided into fixed-wing, rotary-wing, and hybrid.
Based On Industry Type, The Retail Segment Is Accounted As A Significant Contributor In The Cargo Drones Market
The retail and logistics sectors currently dominate the market. This trend is anticipated to continue during the forecast period as more retailers, e-commerce companies, last-mile delivery services, shore-to-ship drone operations, and postal organisations demand drones to deliver parcels and packages. Major e-commerce corporations, local postal agencies, and local governments are introducing drone delivery services to reduce the effort required to deliver goods and parcels to far-flung islands, mountainous regions, and towns. For instance, in October 2021, Royal Postal finished testing autonomous UAV flights between Kirkwall and North Ronaldsay with Windracers Ltd. The test was a component of the Kirkwall Airport-based Sustainable Aviation Test Environment (SATE) initiative.
The Hybrid Drones Segment Witnessed Growth At A Rapid Rate
The term "hybrid flight" refers to the drones' ability to combine both VTOL (Vertical Takeoff and Landing) and traditional flight, also known as fixed-wing flight. These aeroplanes are far more adaptable than those of their rivals due to this feature.
The North America Cargo Drones Market Holds A Significant Revenue Share In The Region
The region with the highest growth is anticipated to be Asia-Pacific. The region's expansion of drone delivery operations is being fueled by the countries' shifting regulatory environments and growing public support for commercial drone operations. Due to expanding drone delivery operations by significant e-commerce companies such as JD.com and Alibaba Group, China is the largest market for delivery drones. The People's Republic of China's State Post Bureau recently released a new Standard for Express Delivery Service by Unmanned Aircraft (Standard), effective in January 2021. To enhance last-mile delivery and encourage the growth of intelligent aerial logistics in the urban air mobility (UAM) sector, EHang, JD.com, and ZTO Express established The Standard.
Cargo Drones Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 936.2 Mn |
|
Revenue forecast in 2031 |
USD 11578.65 Mn |
|
Growth rate CAGR |
CAGR of 37.15 % from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Billion, and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Solution, Industry, Range, Payload, And Type |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
Flying Basket, Natilus, ARC Aerosystems, Dronamics, H3 Dynamics, Kaman Corporation, and Sabrewing Aircraft Company. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Corporate
Office :
Office No.5170, 5th Floor Marvel Fuego, Magarpatta Rd, Pune, 411028
info@insightaceanalytic.com
