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VANCOUVER, BC , May 16, 2022 /PRNewswire/ -- The global drone logistics and transportation market size was USD 7.53 Billion in 2020. Increasing use of drone for faster delivery of goods, growth of e-Commerce sector, increasing investment in research and development, advancements in technology, supportive government regulations, increasing demand for last mile delivery solutions, and emergence of 3PL service providers are some key factors driving market revenue growth.
Drivers: Increasing demand for drones in last mile delivery solutions
Increasing demand for drones in last mile delivery solutions to reap cost reduction benefits is a key factor fueling market revenue growth. For instance, Prime Air delivery drones of Amazon could ship out parcels directly from warehouse to the customer within 30 minutes for a minimal price of USD 1.00 . Companies engaged in last mile and small package delivery are considered most appropriate logistics business units for initial deployment of drones, owing to the characteristics and present technological limitations associated with drones. Rising demand for last mile delivery by e-Commerce firms and online food delivery services providers such as Dominos is driving steady demand for drone logistics and transportation, and the this is expected to gain traction going ahead.
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Restraints: Issues associated with drone battery back-up
Issues associated with drone battery back-up may hamper market revenue growth to some extent over the forecast period. Drone flight time is a major concern currently. Lithium polymer batteries which are used in majority of drones offer limited back-up during flight. Also, short flight time is due to programming of smart batteries by manufacturers to extend battery service life. These smart batteries discharge till power reaches around 30% of storage capacity. Thus, drone may not achieve full flight time due to batteries self-discharging during flight.
The global drone logistics and transportation market size is expected to reach USD 31.84 Billion in 2028 and register a revenue CAGR of 19.5% over forecast period. Advantages of drone logistics and transportation in eliminating issues pertaining to return of delivered goods is aiding in decreasing return time cycles, as well as eradicates hassles related to drop off of packages at remote locations are driving market growth. Drones can be deployed to pick-up faulty/damaged parcels and return it to seller. Faster turnaround time translates to rapid return claims resolution, and better customer experience, allowing business to save time and increase focus on other business functions.
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Drone logistics and transportation market registered substantial revenue growth during the COVID-19 pandemic, particularly due to lockdowns restrictions, quarantines, and other COVID-19-related safety measures implemented worldwide. Drones are a suitable option to restrict physical contact for applications such as location or area sanitization, delivery of goods, and crowd dispersal. The pandemic has significantly impacted the healthcare industry, with issues such as disruption of distribution of drugs and medical supplies to affected zones and transport test samples to laboratories for diagnostics purposes. Drones have begun to play a more important role in various areas and applications, and the trend is rapidly gaining traction.
Drones are garnering significant traction from the logistics & transportation industry due to offering of various benefits associated with applications, including shipping, warehousing, security surveillance, and disaster recovery. Various favorable initiatives undertaken by governments in various countries regarding the use of drones for logistics and transportation is fueling market revenue growth. Drones hold immense potential to impact ocean freight by streamlining the process of inspection and review. In case of railways, logistic & transportation drones may be used to fetch packages from a train as it approaches a specific destination and deliver the package to the intended recipient.
Drone logistics and transportation market in Asia Pacific is expected to register the fastest revenue growth rate over the forecast period, owing to growth of organized retail sector, rising popularity of e-Commerce, especially in developing economies such as India , and emergence of third-party logistics (3PL) and fourth-party logistics (4PL) service providers. Also, rising disposable income and presence of a larger consumer base in Asia Pacific are factors fueling growth of the market in the region.
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In July 2021 , DHL made an announcement about entering into partnership contract with Dronamics, which is a cargo drone developer, for joint development of solutions to provide same-day cargo drone deliveries using cargo drone delivery network of Dronamics and Black Swan drones. Same-day drone cargo services are likely to commence in 2022. Also, Dronamics is focusing on building and operating over 4,000 cargo drones as part of its partnership with DHL.
Scope of Drone Logistics and Transportation Research
The market size value in 2020
Revenue in USD Billion and CAGR in % from 2021 to 2028
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
type, application, operation mode, end-use, Region
North America; Europe; Asia Pacific; Central & South America; MEA
U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey
Zipline, CANA Advisors, Flirtey, Flytrex Aviation Limited, Hardis Group, Drone Delivery Canada, Workhorse Group PLC, Matternet, PINC Solutions, and Uber Technologies Inc
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Some Key Highlights From the Report
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Emergen Research has segmented the global drone logistics and transportation market on the basis of type, application, operation mode, end-use, and region:
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