The global drone delivery services market is expected to reach a valuation of US$ 5,596.0 Mn in 2032, with the market expanding at an astonishing CAGR of 33% during the forecast period of 2022 to 2032. Scaling up from an estimated value of US$ 322.2 Mn in 2022, the drone delivery service market is driven by favorable government regulations and escalating demand from various industries.
The global demand for drone delivery services is projected to increase at a CAGR of 33% during the forecast period between 2022 and 2032, reaching a total of US$ 5,596.0 Million in 2032, according to a report from Future Market Insights (FMI). From 2016 to 2021, sales witnessed significant growth, registering a CAGR of 5.8%.
Owing to the elevated demand for drone delivery services across the globe, many countries are relaxing their regulations to permit these drones to operate in their airspace. This enables drone services to pursue new delivery routes and travel to distant locations which, in turn, will help expand the target market. In addition to this, increasing spending on the development and integration of beyond visual range of sight (BVLOS) capabilities into drones would enable businesses to cover wider distances. This bodes well for the drone delivery services market.
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With advances made in drone technology, the drone delivery services market is also expected to grow. The integration of advanced technological tools into drones would allow them to obtain precise ground data that can then be linked to more traditional mapping methods. Moreover, the incorporation of sense and avoid systems in aerial delivery drones are gaining traction because of the greater safety and other benefits they bring outside the visual line of sight. Cameras, radars, LiDAR, and other tools that assist in the detection and avoidance of obstacles are categorized as sense and avoid systems. Technological advancements in these tools facilitate the independent and safe execution of drone delivery services which, in turn, further contribute to the expansion of the drone delivery services market over the forecast period.
“Rising usage of drones, advancements in drone technology, and relaxation in government policies will likely drive the market growth of the drone delivery services market over the forecast period,” says an FMI analyst.
- Unpredictable weather patterns may impede the market growth.
- In 2022, North America will account for about 45% of the global market share.
- The Asia Pacific region is predicted to acquire about 30% of the overall market share.
- In terms of end-user, e-commerce is expected to dominate the market.
- By delivery distance, short-distance drone delivery services are constantly gaining popularity over the assessment period.
SenseFly Ltd., Airware, Inc., DroneDeploy Inc., Sharper Shape Inc., Sky Futures Ltd., Cyberhawk Innovations Ltd., Aerobo, DroneCloud, Sentera, LLC, Agribotix LLC, Amazon.com, Inc., JD.com, Inc., and Deutsche Post DHL, among others, are some of the major players in the drone delivery services market profiled in the full version of the report.
Leading players are focusing on partnerships, collaborations, and agreements to gain a competitive edge in the market.
More Insights into Drone Delivery Services Market Report
In its latest report, FMI offers an unbiased analysis of the global drone delivery services market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented based on delivery distance (close range drone delivery services, short range drone delivery services, mid-range drone delivery services, endurance drone delivery services), propellers (tricopter drones, quadcopter drones, hexacopter drones, octocopter drones), end use (drone delivery services for e-commerce, drone delivery services for weather monitoring, drone delivery services for emergency aids, drone delivery services for other end uses), and region.
According to the latest FMI reports, based on region, the drone delivery services market in North America is anticipated to experience impressive growth over the forecast period. The regional market will account for about 45% by the end of 2022. This growth can be attributed to the strong presence of e-commerce as well as favorable government policies in countries like the U.S.A. Many enterprises in the U.S. are keen on commercializing drone delivery services for food, retail, logistics, medical items, and many others which will further boost the regional market growth.
Based on segmentation, in terms of end-user, the e-commerce sector is likely to lead the market growth while the short range drone delivery services will lead the market on the basis of delivery distance over the assessment period.
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Table of Content
- Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
- Market Background
- Global Drone Delivery Services Market Analysis 2016-2021 and Forecast, 2022-2032
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