Drone Logistics and Transportation Market Size to Reach USD 10,990 Million by 2026 at CAGR 10.8% | Valuates Reports
BANGALORE, India, March 9, 2021 /PRNewswire/ -- The Drone Logistics and Transportation Market is Segmented Type(Warehousing, Shipping, Others), Application(Civil and Commercial, Military) : Global Opportunity Analysis and Industry Forecast, 2021-2026. This report is published on Valuates Reports in the Transportation & Logistics Category.
The global Drone Logistics and Transportation market size is projected to reach USD 10,990 Million by 2026, from USD 5,308.5 Million in 2019, at a CAGR of 10.8% during the forecast period 2021-2026.
Major factors driving the growth of the drone logistics and transportation market are, increasing use of unmanned aerial vehicles (UAVs) in commercial applications for faster delivery, the growing e-commerce market, eased regulations for the usage of drones for commercial purposes.
The report offers a comprehensive analysis and accurate statistics on revenue by the player for 2016-2021. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by players for 2016-2021.
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TRENDS INFLUENCING THE DRONE LOGISTICS AND TRANSPORTATION MARKET SIZE
One of the major factors expected to drive the drone logistics market size is its cost-effective nature. The utilization of drones for last mile delivery automation could present significant cost savings. These cost savings are the result of avoiding traffic. Drones can cover longer distances in a shorter time frame, thereby saving fuel, cutting costs per mile, and reducing their carbon footprint.
Increased drone use for several commercial and military applications is expected to drive the growth of drone logistics and transportation market size. Drones are used in commercial and military applications for inventory tracking, delivery of food, delivery of medical supplies, border surveillance, delivery of parcels, and so on.
The emergence of e-commerce has contributed substantially to the growth of the Drone Logistics and Transportation market size. As there is a growing demand for the speedy delivery of goods, drones are being increasingly used in e-commerce warehouses for the delivery of goods and warehousing of products.
During the forecast period, increasing investment in the development of passenger drones or virtual take-off and landing vehicles is expected to contribute to the drone logistics and transport market's growth.
The evolving customer expectation towards same-day delivery is expected to fuel the done drone logistics and transport market size.
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DRONE LOGISTICS AND TRANSPORTATION MARKET SHARE ANALYSIS
Based on the solution, the shipping segment is expected to be the largest contributor in the market during the forecast period.
The shipping segment's dominance is due to increasing investment in the R&D of drones for package delivery.
Based on the Application, the Commercial segment is expected to account for the largest market size during the forecast period.
The large market share of this segment is due to the increase in the number of deliveries in the logistics industry, especially in the e-commerce industry.
The Asia-Pacific region is anticipated to experience the highest growth in the coming years.
This rapid growth is attributed to the investments by the Chinese and Indian companies into drone delivery technology.
The North American region is expected to hold the largest drone delivery & transportation market share over the forecast period.
The use of drones for transport has been growing in North America, with the United States and Canada taking steps to implement drones in the commercial and military sectors.
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TOP COMPANIES IN THE DRONE LOGISTICS AND TRANSPORTATION MARKET
In order to achieve a competitive advantage in the industry, drone manufacturers are continually interested in product developments, thus intensifying competition in the market. The entry of new manufacturers into the market has been accelerated by moderate initial investment requirements and an expanding application base.
Some of the top companies in the drone logistics and transportation market are,
- Deutsche Post DHL Group
- Drone Delivery Canada
- Matternet
- United Parcel
- PINC Solutions
- DroneScan
- Infinium Robotics
- Skycart
- Skysense
- Zipline International
- Flirtey
- Flytrex
- Altitude Angel
- AirMap
- Uber.
Market segment by Type, the product can be split into
- Warehousing
- Shipping
- Others.
Market segment by Application, split into
- Civil and Commercial
- Military.
Market segment by Regions/Countries, this report covers
- North America
- Europe
- China
- Japan
- Southeast Asia
- India
- Central & South America.
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SIMILAR REPORTS :
- The global Same Day Delivery Market size is projected to reach USD 132380 Million by 2026, from USD 7546.6 million in 2019, at a CAGR of 50.0% during the forecast period 2021-2026.
- The global Last Mile Delivery market size is projected to reach USD 66000 Million by 2026, from USD 39570 Million in 2020, at a CAGR of 8.9% during the forecast period 2021-2026.
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The high growth of the global unmanned aerial vehicle market is on the back of rising demand for UAVs for commercial applications and increasing defense resources of developing economies.
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