Demand and Growth of Drone Logistics & Transportation Market 2020, Focusing on Top Key Players Like Cheetah Software Systems, Drone Delivery Canada Corp., Flirtey, Flytrex Aviation, Hardis Group, Infinium Robotics, PINC Solutions, Volocopter

The drone logistics & transportation market is experiencing high growth in the forecast period. Increasing demands for faster delivery of goods is the most significant factor driving the growth of the drone logistics and transportation market. Concerns regarding safety during travel and package drop as well as lack of skilled & trained personnel are the few other challenges to be faced by drone logistics and transportation market. The drone logistics & transportation providers are gaining prominence in the commercial sector owing to the fact that the end-users are seeking various ways to cut down operational cost in their business and bring in the faster mode of delivery.

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In the current state of commercial drone operations, several government bodies and authorities have imposed stringent laws and regulations. This factor has limited the drone operations in various developed as well as developing regions across the globe. One of the most critical laws imposed upon commercial drone operations is that the drone pilot should maintain a visual line of sight with the unmanned aerial vehicle while in operation. The future of the market is anticipated to be prominent, with the implementation of Beyond the Visual Line of Sight (BVLOS). The benefits of BVLOS is that the concept allows the operators to fly drones in complex conditions and truly unmanned technology without the need for takeoff and landing. This technological concept is anticipated to trigger the growth of the market in the coming years.

The drone logistics & transportation market has been derived from market trends and revenue generation factors from five different regions across the globe namely; North America, Europe, Asia Pacific, Middle East, and Africa, and South America. APAC is expected to be the fastest-growing region in the global drone logistics & transportation market. Whereas, Europe and North America hold the highest market share in the drone logistics & transportation market. The demand for drone logistics & transportation in developing economies is constantly rising as the number of applications is rising in different sectors. With the continuous advancement in drone technology, the large multinational companies are seeking forward for drones to ensure quick delivery of parcels with high speed while lowering time and operational costs. Asian countries have the advantage of having the most confident shoppers when it comes to receiving deliveries through drones and using autonomous technology to make payments. The major reason for this is the presence of a larger population, developing internet infrastructure, and growing awareness about the usage of drones. The continuous growth in retail and online businesses in emerging markets of APAC and international companies targeting these economies for the expansion of their business is resulting in the growth of implementation of drone logistics & transportation in the region. Further, striving digital initiatives along with the adoption of advanced technologies by the Asian countries have driven strong government support for adopting drone for particular. Rapid growth of online business in Asian countries has made the region a prosperous market for the parcel delivery. Continuous government support in the countries, particularly in India, is one of the major reason to improve and increase adoption of advanced technologies in the market.

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These factors are responsible for the adoption of drones for logistics as well as transportation purpose in the APAC region. Geographically, North America will have the largest share in the drone logistics & transportation market by 2027, later followed by Europe and APAC region, owing to rapid technological developments, numerous investments, and supportive Government policies in the western part of the world.

The major players operating in the market for drone logistics & transportation market include Cheetah Software Systems, Inc., Drone Delivery Canada Corp., Flirtey, Flytrex Aviation, Ltd., Hardis Group, Infinium Robotics, PINC Solutions, Volocopter GmBH, Workhorse Group Inc., and Zipline among others.

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This release was published on openPR.