The Drone Package Delivery Market Expected to Reach $39 Billion By 2030

- Financialnewsmedia.com News Commentary

PALM BEACH, Fla., May 18, 2021 /PRNewswire/ -- Companies operating in the logistics & transportation, retail, agriculture, and healthcare sectors are making efforts to integrate drone delivery into their business models for the smooth and successful execution of same-day delivery of packages. In addition, technological advancements in drone technologies help in carrying out drone package delivery operations autonomously and safely, thereby contributing to their increased adoption in the drone delivery ecosystem. Growing demand for fast delivery, rising amendments in regulatory frameworks to encourage drone package delivery, and increasing demand for lowering carbon emission are some of the factors fueling the growth of the market. A recent report from MarketsAndMarkets said that 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 report said: "The demand for faster delivery of packages is increasing, with customers willing to pay extra for same-day delivery. With innovation in cargo transportation and increasing investments from logistics & transportation companies, the use of delivery drones in e-commerce, quick service restaurants, convenience stores, and the healthcare sector, among others, is increasing. According to Invesp (US), as of 2018, approximately 51% of the global online retail shoppers preferred fast delivery/same-day delivery over long duration deliveries. Invesp also forecasts that, by 2021, the total number of online shoppers preferring faster delivery over long duration deliveries would be more than 65% globally. These factors have led to the increased adoption of aerial delivery drones in the global e-commerce industry. Retailers are trying to lower their delivery lead times and enhance the flexibility and speed of deliveries by maintaining stock-keeping units (SKUs) assisted by drones. Aerial delivery drones are expected to help increase the delivery speed of products in crowded megacities." Active stocks in the markets this week include Bantec, Inc. (OTCPK: BANT), Draganfly Inc. (OTCQB: DFLYF) (CSE: DFLY), Plymouth Rock Technologies Inc. (OTCQB: PLRTF) (CSE: PRT), Drone Delivery Canada Corp. (OTCQX: TAKOF) (TSXV: FLT), AgEagle Aerial Systems Inc (NYSE: UAVS),

MarketsAndMarkets continued: "The use of drones for the delivery of packages is expected to offer growth opportunities for various stakeholders of the drone package delivery ecosystem, such as drone manufacturers, drone service providers, drone infrastructure providers, and drone as a software service provider, among others… These companies are expected to witness significant growth in the coming years owing to the significant investments in drone technologies across the globe."

Bantec, Inc. (OTCPK: BANT) BREAKING NEWS:  Bantec Acquires USPTO Patent for Drone Operated Package Delivery Receptacle - Bantec, Inc.  ("Bantec" or the "Company"), is pleased to announce the acquisition of a drone operated delivery receptacle utility patent (issued by the USPTO) for package delivery.

Michael Bannon, Bantec's Chairman and CEO stated: "when I first entered into the drone business, and acquired my FAA drone pilot license, I kept my eye on the drone delivery market.  While the more general drone industry itself has grown rapidly, the delivery segment lagged behind. During these 'growing pains' we have strategically positioned Bantec to take advantage of the drone delivery market move from niche to mainstream.  We are at the cusp of this drone delivery market shift and see this USPTO patent acquisition as another major step for Bantec to become a major player in the upcoming drone package delivery market.  Our patented technology will ensure safe and secure drone package delivery to businesses and residential homes throughout the United States and possibly throughout the world. "

The Delivery Drones Market reached the USD 2 billion mark in 2020 and is projected to reach USD 5.6 billion by 2026 according to a Mordor Intelligence report. The shift to contactless delivery due to COVID-19 has significantly sped up the delivery drone market movement.   "The present invention provides a delivery receptacle adapted to communicate with a drone and receive a package therefrom."   CONTINUED… Read this full Press Release and more for BANT at:  https://www.financialnewsmedia.com/news-bant

Other recent developments in the drone and tech industries include:

Draganfly Inc. (OTCQB: DFLYF) (CSE: DFLY) an award-winning, industry-leading drone solutions, and systems developer, recently announced that it has signed a $1M services deal to deploy EagleEye^™ AI flight services with Windfall Geotek Inc. ("Windfall Geoteck").

Windfall Geotek flies mining prospect with magnetometers. The data is placed into EagleEye^™ along with other data and provides recommended targets for mining companies to drill. This was traditionally done by fixed-wing aircraft flying mag surveys. Draganfly flies smaller patterns and uses EagleEye's^™ AI software to get better results and provide better potential targets using the AI data. The mining focus will be on battery metals nickel, zing, lithium, and cobalt.

Drone Delivery Canada Corp. (OTCQX: TAKOF) (TSXV: FLT) recently announced that on April 27, 2021, the United States Patent Office granted the Company U.S. Patent No. 10,987,184 for 'Medical or Emergency Package and Method of Use Thereof'.

The patent is directed to DDC's proprietary, portable emergency or medical package. In particular, the patent is directed to the concept of a proprietary package including a number of compartments, where some compartments containing medical equipment(s) are locked. The package also includes a communication device that is detachable from the package so that a user of the package can use the communication device to communicate with remote personnel who, based on such audio/video information received from the user, can open a selected locked compartment to permit access to the medical equipment contained therein.

AgEagle Aerial Systems Inc (NYSE American: UAVS) an industry leading drone solutions provider, recently reported its financial results for the three months ended March 31, 2021.

First Quarter 2021 Key Financial Highlights: Total revenue for the three months ended March 31, 2021 increased significantly to approximately $1.7 million compared to $391,000 in the prior year period. The increase in revenue was largely attributable to drone sensor sales by MicaSense ^™, which AgEagle acquired in late January 2021, and sales of our HempOverview^™ SaaS solution to other states; Gross profit margin improved to 63% from 55% as a result of the Company's strategy to expand its product and service offerings to include higher margin drone sensors and software solutions; Net loss was $2.9 million, or $(0.5) per share, compared to a net loss of $403,000, or $(0.03) per share, in the first quarter of 2020. The higher net loss was primarily attributable to increased operating expenses primarily associated with AgEagle's acquisition and capital formation activities, team expansion initiatives and research and development costs relating to innovative new drone technologies in development; and As of March 31, 2021, the Company had $24.2 million in cash on its balance sheet compared to $23.9 million as of December 31, 2020. 

Plymouth Rock Technologies Inc. (OTCQB: PLRTF) (CSE: PRT), a leader in developing threat detection and unmanned technologies, recently announced that it has signed a binding LOI to acquire, in whole, Tetra Drones Limited a developer of custom-made, high-performance and niche Unmanned Aircraft Systems (UAS).

The proposed transaction will take the form of a corporate combination whereby PRT will acquire all of the then issued and outstanding shares of Tetra Drones. Tetra has issued and outstanding share capital of 100 ordinary shares held by the sole Shareholder, Mr. Ben Pickard.

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