The global drone package delivery market size is projected to reach USD 7,388.2 million by 2027, exhibiting a CAGR of 41.8% during the forecast period. Widespread deployment of drones to deliver medical and food supplies amid the COVID-19 pandemic is expected to aid the market make substantial gains, observes Fortune Business Insights™ in its report, titled “Drone Package Delivery Market Size, Share & COVID-19 Impact Analysis, By Type (Fixed Wing and Rotary Wing), By Package 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”.
The coronavirus has forced people to maintain social distance to avoid contracting the infection, which has made the delivery of essential supplies difficult, particularly in remote regions. In response, several drone service companies have risen to the occasion and are supporting government efforts to provide aid to distressed areas. For example, the drone company, Zipline, has been delivering critical medical supplies to clinics in Ghana and Rwanda in Africa during the pandemic period. In Canada, Drone Delivery Canada will be deploying its multi-rotor drone, Sparrow, to provide COVID-19 cargo to the Beausoleil First Nation Community in Ontario. Similarly, in China, JD Logistics utilized drones to deliver commercial and medical cargo in the Hubei and Wuhan provinces. The COVID-19 pandemic has, therefore, given a booster shot to this market, escalating the adoption of unmanned aerial systems worldwide.
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Fortune Business Insights™ lists out the names of all the prominent manufacturers operating in the global drone package delivery market. They are as follows:
- DroneScan (South Africa)
- Cheetah Logistics Technology (US)
- Flytrex (Israel)
- Flirtey (US)
- Matternet, Inc. (US)
- Boeing (US)
- Amazon Inc. (US)
- Wing Aviation LLC (US)
- Workhorse Group Inc. (US)
- Drone Delivery Canada Corp. (Canada)
- Zipline (US)
- DHL International GmbH (Germany)
- United Parcel Service of America, Inc. (US)
- FedEx (US)
The report states that the market value stood at USD 642.4 million in 2019 and shares the following information:
- A comprehensive depiction of the industry outlook and trends;
- Detailed insights into the upcoming opportunities in the market for drone package delivery;
- Tangible analysis of the market drivers, restraints, and all possible segments; and
- In-depth assessment of the regional and competitive dynamics impacting the market.
The emergence of Drone Startups in Logistics to Augment Market Potential
The growing demand for enhancing the efficiency of logistics operations has triggered a sudden emergence of startups specializing in drone technologies to cater to these needs. For example, DroneScan, a South Africa-based startup, designs drones that transmits live data of scanned items in warehouses, making inventory management more efficient and upping the productivity quotient of workers.
An Italy-based startup, Archon, provides autonomous robotic drone services to facilitate supervised as well as unsupervised inspection of warehousing and logistics operations. The drone startup culture is gathering momentum in developing countries as well. For example, in India, several startups have spawned in the past few years that are providing next-gen drone services. Aarav Unmanned Systems, for instance, was started in 2013 and is India’s first drone company to develop drone solutions for commercial applications in the public and private sectors. These developments are expected to power the drone package delivery market growth in the forthcoming years.
North America to Top Other Regions Backed by Rising Preference for Drone Deliveries by Shoppers
North America is set to dominate the drone package delivery market share during the forecast period owing to the increasing inclination of online shoppers towards delivery of goods through unmanned aerial vehicles (UAVs). With a market size of USD 237.7 million in 2019, the region is likely to retain its leading position, which will be supported by the strong financial support to drone startups in the US and Canada.
In Europe, the market is anticipated to be driven by the growing presence of tech companies that are expanding their operations in the region through collaborations and partnerships. Asia Pacific is expected to create exciting opportunities for market players on account of the emerging trend of online purchasing of groceries in the large cities of India, China, and Indonesia.
Supportive Regulations to Novel Ideas to Feed Competitive Ardor of Key Players
With the scope for innovation widening, key players in the market drone package deliveries are engaged in coming up with novel drone solutions, especially during the current coronavirus crisis. Supporting their efforts are regulatory bodies that are easing flying norms and rules to ensure timely delivery of essential supplies to people.
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- August 2020: Amazon secured clearance from the Federal Aviation Administration (FAA) to deploy its Prime Air delivery drone fleet to efficiently and securely deliver packages to customers. Amazon is now the third company to receive FAA approval to operate drones on a commercial scale after UPS and the Alphabet-owned company, Wing.
- May 2020: Wing, a subsidiary of Google’s parent company Alphabet, announced that it has made thousands of drone deliveries in Australia during the pandemic. Launched in Canberra in 2019, the demand for Wing’s services rose by 500% between February and April 2020.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the Global Drone Package Delivery market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market.
- Competitive Assessment: In-depth assessment of the Drone Package Delivery market strategies, geographic and business segments of the leading players in the market.
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Global Drone Package Delivery market.
Various factors are responsible for the market’s growth trajectory, which are studied at length in the report. In addition, the report lists down the restraints that are posing threat to the global Drone Package Delivery market. It also gauges the bargaining power of suppliers and buyers, threat from new entrants and product substitute, and the degree of competition prevailing in the market. The influence of the latest government guidelines is also analysed in detail in the report. It studies the global drone package delivery market analysis trajectory between forecast periods.
The key questions answered in this report:
- What will be the Drone Package Delivery Market Size and Growth Rate in the forecast year?
- What are the Key Factors driving Global Market?
- What are the Risks and Challenges in front of the Drone Package Delivery market?
- Who are the Key Vendors in Global Market?
- What are the Trending Factors influencing the Drone Package Delivery market shares?
- What are the Key Outcomes of Porter’s five forces model?
- Which are the Global Opportunities for Expanding the Global Drone Package Delivery Market?
Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments –Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights-Impact of COVID-19 Pandemic on Global Drone Package Delivery Market
- Impact of COVID-19 Pandemic on the Global Drone Package Delivery Market
- Steps Taken by the Industry/Companies/Government to Overcome the Impact
- Key Development in the Industry in Response to COVID-19 Impact
- Global Drone Package Delivery Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Fixed Wing
- Rotary Wing
- Market Analysis, Insights and Forecast – By Package Size
- Less Than 2 Kg
- 2-5 Kg
- Above 5 Kg
- Market Analysis, Insights and Forecast – By End-use
- Restaurant & Food Supply
- Retail Logistics & transportation
- Market Analysis, Insights and Forecast – By Region
- North America
- Asia pacific
- Rest of World
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