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Drone Package Delivery Market to Hit USD 7,388.2 Million by 2027; Diverse Entities Such as Amazon and FedEx to Explore Wider Delivery Applications of Drones, States Fortune Business Insights(TM)

GlobeNewswire - Tue Dec 1, 11:18AM CST

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(TM) 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.

Get Sample PDF Brochure with Impact of COVID19:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/drone-package-delivery-market-104332

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.

Driving Factor

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.

Regional Insights

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.

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https://www.fortunebusinessinsights.com/enquiry/check-discount/drone-package-delivery-market-104332

Competitive Landscape

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.

Industry Developments:

-- 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.

List of Key Companies Profiled in the Drone Package Delivery Market:

-- 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)

Browse Detailed Summary of Research Report with TOC:

https://www.fortunebusinessinsights.com/drone-package-delivery-market-104332

Detailed Table of Content:

TOC Continued...!

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https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/drone-package-delivery-market-104332

Have a Look at Related Research Insights:

Drone Services Market Size, Share and Industry Analysis, By Type (Fixed-wing and Rotary-wing), By Application (Aerial Photography, Delivery & Pick up, Surveillance & Inspection, Data acquisition & Analytics, and Remote Sensing & Environment Monitoring), By End-use Industry (Agriculture, Homeland Security, Oil & Gas, Logistics, Infrastructure, Media & Entertainment, and Others), and Regional Forecast, 2019- 2026

Commercial Drone Market Size, Share & COVID-19 Impact Analysis, By Product (Fixed-wing, Rotary Wing and Hybrid Multi-rotor), By Technology (Remotely Operated, Semi-autonomous, and Fully-autonomous), By System (Airframe, Payloads, Avionics, Propulsion, and Software), By Application (Aerial Photography, Agriculture, Disaster Relief & Management, Logistics, Surveillance & Inspection, Remote Sensing & Mapping) and Regional Forecasts, 2020-2027

Agriculture Drone Market Size, Share & COVID-19 Impact Analysis, By Type (Fixed Wing, Rotary Wing, and Hybrid), By Components (Hardware [Frames, Control Systems, Propulsion System, Navigation System] and Software [Imaging Software, Data Management Software]), By Application (Field Mapping & Monitoring, Crop Spraying, Crop Scouting, Variable Rate Application, Livestock Monitoring, Others), and Regional Forecast, 2020-2027

Unmanned Aerial Vehicle Market Size, Share & COVID-19 Impact Analysis, By Class (Small UAVs, Tactical UAVs, and Strategic UAVs), By Technology (Remotely Operated, Semi-autonomous, and Fully-autonomous), By System (UAV Airframe, UAV Payloads, UAV Avionics, UAV Propulsion, and UAV Software), By Application (Military, Commercial and Recreational), and Regional Forecast, 2020-2027

About Us:

Fortune Business Insights(TM) offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights(TM), we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:

Fortune Business Insights(TM) Pvt. Ltd.

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