PUNE, India, May 24, 2018 /PRNewswire/ --
According to the new market research report "Drone Logistics and Transportation Market by Solution (Warehousing, Shipping, Infrastructure, Software), Sector (Commercial, Military), Drone (Freight Drones, Passenger Drones, Ambulance Drones), and Region - Global Forecast to 2027", published by MarketsandMarkets™, the market is estimated to be USD 11.20 Billion in 2022 and is projected to reach USD 29.06 Billion by 2027, at a CAGR of 21.01% from 2022 to 2027.
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Browse 20 market data Tables and 43 Figures spread through 117 Pages and in-depth TOC on "Drone Logistics and Transportation Market - Global Forecast to 2027"
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The increasing use of unmanned aerial vehicles in civil and commercial applications for faster delivery of goods is one of the most significant factors expected to drive the growth of the drone logistics market. Rising demand for sophisticated industry-specific analytical solutions is also expected to fuel the growth of the drone logistics market.
The shipping segment is projected to grow at the highest CAGR during the forecast period.
Based on solution, the shipping segment of the drone logistics and transportation market is projected to grow at the highest CAGR from 2022 to 2027. Drones can be used to transport a wide range of products, from small packages to medical supplies and food, among others. A lot of investments has been seen in the delivery drone industry by venture capitalists to commercialize the industry. Companies such as Amazon, Google, and Walmart are also engaged in research and development activities to commercialize the use of drones for delivery.
The commercial segment is projected to grow at a higher CAGR during the forecast period.
Based on sector, the drone logistics and transportation market has been segmented into commercial and military. The commercial segment is projected to witness a higher growth rate during the forecast period. Rising interest in the use of unmanned aerial vehicles (UAVs) or drones for the delivery of packages has led to huge investment by venture capitalists in this field. A number of logistics companies, such as UPS and DHL, are looking into using drones for logistics applications. Relaxation of restrictions imposed on the commercial use of UAVs is expected to drive the growth of the drone logistics and transportation market for commercial drones.
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The <10kg (Delivery Drones) segment is estimated to lead the drone logistics and transportation market in 2022.
Based on cargo weight, the <10kg (Delivery Drones) sub segment of freight drones segment is estimated to lead the drone logistics and transportation market in 2022. As technology innovations continue, such as dual GPS modules, sense & collision avoidance, dual batteries, and dual flight controllers, the cost of drones is expected to decrease gradually, making drones an even more attractive mode of transporting items.
North America is projected to be the fastest-growing market for drone logistics during the forecast period.
The drone logistics and transportation market in the North America region is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the high demand for UAVs from the commercial and military sectors of countries in the region, such as the US and Canada. The military budgets of the aforementioned countries are increasing on a yearly basis, which has subsequently led to the adoption of military UAVs, as they can assist in the delivery of heavy payloads.
Key players operating in the drone logistics and transportation market include PINC Solutions (US), CANA Advisors (US), Drone Delivery Canada (Canada), DroneScan (South Africa), Hardis Group (France), Infinium Robotics (Singapore), Matternet (US), and Workhorse Group (US).
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