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Increasing demand for faster delivery across the globe is driving the market growth
The drone package delivery market is projected to grow from USD 2.1 billion in 2023 to USD 27.4 billion by 2030, at a CAGR of 44.7% during the forecast period. An increase in demand for faster delivery, amendments in the regulatory framework to encourage drone package delivery, and increased use of low-cost and light payload drones for product delivery by start-ups are some of the major factors driving the market for drone package delivery. However, the lack of required infrastructure to support drone delivery operations in emerging economies is limiting the overall growth of the market.
Short duration (<30 minutes) segment is estimated to account for a larger market in 2023
Based on duration, the market has been segmented into short duration (<30 minutes) and long duration (>30 minutes). The short duration segment is estimated to account for a larger share of the overall market in 2023. However, the long duration segment is projected to grow at a higher rate during the forecast period owing to the demand for instant package delivery at a lower cost.
Short range (<25 kilometers) segment is estimated to account for a market larger share in 2023
Based on range, the market has been segmented into short range (<25 kilometers) and long range (>25 kilometers). Short-range delivery drones are generally used for a short-range local delivery of packages. These drones, capable of traveling up to a distance of 25 kilometers in a single charging, enable instantaneous delivery of products after their online purchase. There is a rising demand for instant delivery of products and packages, such as medicines and food.
Asia Pacific is estimated to lead the drone package delivery market in 2023 China and Japan are the major countries in the Asia Pacific drone package delivery market and are leaders in the manufacturing of advanced delivery drones for commercial usage. Australia is among the most lucrative markets in the Asia Pacific Region. Alphabet’s Wing has started the delivery of packages using drones in Australian suburbs in April 2019. Amazon Prime is also conducting trials in the country for the delivery of parcels through drones.
Break-up of profiles of primary participants in the drone package delivery market:
By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
By Designation: C-Level Executives – 35%, Directors – 25%, and Others – 40% By Region: North America – 45%, Europe – 20%, Asia Pacific – 30%, Rest of the World – 5%
Key players in the drone package delivery market include:
Amazon.com, Inc. (US), FedEx (US), United Parcel Service of America, Inc. (US), Boeing (US), DHL International GmbH (Germany), Matternet, Inc. (US), Zipline (US), Flirtey (US), Drone Delivery Canada Corp. (Canada), Flytrex (Israel), Workhorse Group Inc. (US), Cheetah Logistics Technology (US), Wing Aviation LLC (US), Airbus S.A.S. (Netherlands), Skycart Inc. (US), DroneScan (South Africa), Edronic (Spain), Altitude Angel (UK), Fli Drone (Caribbean), and BIZZBY (UK).
The market study covers the drone package delivery market across segments. It aims at estimating the size and growth potential of this market across different segments, such as solution, duration, range, package size, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Reasons to buy this report:
- This report will help the market leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall drone package delivery market and its subsegments.
- The report covers the entire ecosystem of the drone package delivery system in the aviation industry and will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
- The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.