The global Drone Logistics Market is expected to grow with CAGR 21.3% during the forecast period. The market is growing owing to the rising demand of drones in cross border surveillance, delivery of food and medicine and military services. In addition, traffic congestion in the highly populated areas can be avoided that helps in speedy delivery of goods to consumers and it costs less than the conventional delivery methods.
A drone is an unmanned aerial vehicle that is being operated by a remote-controlled panel and is used for tracking and detection of objects. This drone logistics is primarily used in various applications such as military, e-commerce, inventory management and tracking, transportation and warehousing of food and medicine and among other. The drone logistics makes use of hardware devices such as cameras, sensors, GPS systems and navigation systems for its functioning These are designed specially to reach to remote locations, which are difficult for humans to reach.
The global drone logistics market has been segmented based on drone type, solution, and end-use industry. Based on drone type the market is segmented as freight drones, medical drones, and passenger drones. Among which, the demand for passenger drones is expected to grow significantly during the forecast period owing to the rising urban population, technological advancement and increasing traffic. Moreover, the end-use industry the market is segmented as military and commercial. The commercial segmented is expected to witness highest growth in the drone logistics market due to the rising investment in logistics industry, delivery of food and medicine and rising e-commerce.
A research study on the global Drone Logistics market provides precise information about market size and estimation, market share, global growth, and product significance. The Drone Logistics market study contains brief information of the industry which will help clients acquire Commercial Drone's market knowledge and use it for business purposes. This report provides data to the customers that are of historical as well as statistical significance making it usefully informative.
Market Segmentation Scope:
· Freight Drones
· <10kg (Delivery Drones)
· >10kg Cargo Drones)
· Passenger Drones
· Ambulance Drones
Based on the region the global drone logistics market has been segmented as North America, Europe, Asia Pacific, Latin America, and Middle East Africa. The North America region is dominating the drone logistics market followed by Asia Pacific, Europe and other regions. The North America region is witnessing growth in the drone logistics market owing to the usage of drones for delivering packages to the consumers. In addition, the military budgets of the countries in this region is rising that will increase the adoption of unmanned military vehicles in various military applications such as surveillance, target observation and base perimeter monitoring.
The key players in the drone logistics Market are Airmap, Altitude Angel, CANA Advisors, Deutshe Post DHL Group, Drone Delivery Canada, Flirtey, Flytrex, Hardis Group, Skyward Io, Workhorse Group, Zipline, and others. Various companies such as Amazon, DHL and UPS are using drones for delivery of the parcels to their customers. Various players in the market are adopting strategies like joint ventures, partnerships, mergers and acquisitions and others to gain a competitive advantage over their counterparts. In 2019, United Parcel Service (UPS), an American multinational package delivery and supply chain management company partnered with Matternet, a market leader in drone technology to deliver medical supplies.
Impact of COVID-19 on Drone Logistics Market:
The report also contains the effect of the ongoing worldwide pandemic, i.e., COVID-19, on the Drone Logistics Market and what the future holds for it. It offers an analysis of the impacts of the epidemic on the international market. The epidemic has immediately interrupted the requirement and supply series. The Drone Logistics Market report also assesses the economic effect on firms and monetary markets. Futuristic Reports has accumulated advice from several delegates of this business and has engaged from the secondary and primary research to extend the customers with strategies and data to combat industry struggles throughout and after the COVID-19 pandemic.