Drone Delivery System Market to Grow at 14.4% CAGR, Valued at US$ 25.5 Billion by 2033

The Drone delivery systems market is expected to develop at an outstanding 14.4% CAGR over the evaluation period of 2023-2033, and surpass US$ 6.6 billion by the end of 2023.

Many shipping and logistics firms have made investments in creating effective infrastructure for parcel delivery, primarily using drones. Drone parcel delivery is a creative and effective way for businesses to deliver goods, medical supplies, and deliveries. It produces items quickly and accurately while minimizing human intervention.

Drone delivery firms such as United Parcel Service of America (UPS), Zipline, and others are propelling the market expansion with their robust build, compact design, motion detection, and position tracking features. Modern technologies like Internet of Things (IoT) and artificial intelligence (AI) are being used extensively to create drones that can carry packages fast and efficiently.

Modern industry and living depend on the flow of machine parts, pharmaceuticals, and consumer goods. The productivity and quality of life of the individuals and communities they serve are enhanced by expedited logistics.

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Key Takeaways from Study

The global drone delivery system market is set for significant growth, projected to expand at a compound annual growth rate (CAGR) of 14.4%, reaching a valuation of US$ 25.5 billion by the end of 2033. The market will be predominantly driven by the rotary wing sub-segment, which is expected to dominate by accounting for 53.7% of the market share by 2023. Within the application segment, vaccine and drug delivery are poised to play a crucial role, likely contributing 23.1% of the revenue share and achieving a valuation of US$ 1.5 billion in 2023.

In terms of load capacity, drones capable of carrying 2-5 kg are estimated to represent approximately 32.5% of the aftermarket sub-segment in 2023. Geographically, the South Asia & Oceania region is anticipated to register a CAGR of 11.1% over the forecast period, reaching a valuation of US$ 737.5 million by the end of 2023. This growth is fueled by increasing adoption of drone delivery systems for various applications, reflecting the region's burgeoning market potential and its contribution to the overall expansion of the global drone delivery system market.

Key Companies Profiled

Airbus
Amazon
Boeing
DHL
Elroy Air
Flytrex Inc
Matternet
Swoop Aero
United Parcel Service of America, Inc
Others

Rising Importance of Drones in the Logistics Industry to Promote Drone Delivery Services

The logistics industry, crucial to a nation's economy, faced significant disruptions due to the COVID-19 outbreak in March 2020, which severely impacted global supply chains and last-mile delivery processes. Retailers are grappling with the rising demand for fast delivery, prompting several logistics companies to explore drone technology as a solution. Drones offer advantages such as reduced operating costs, the ability to bypass traffic bottlenecks, and lower vehicle emissions, all while satisfying customer demands for on-demand and immediate deliveries. Their compact size, low operating costs, high speed, and minimal environmental impact make drones ideal for last-mile delivery. Consequently, e-commerce giants like Amazon and Walmart are deploying drones to reach rural and remote areas effectively. Furthermore, drones are increasingly being used worldwide to deliver essential items such as medicines, vaccines, food, and groceries, showcasing their growing potential in last-mile delivery and positively impacting the logistics and drone parcel delivery industries.

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Competitive Landscape

Technology-based businesses with robust product portfolios and first-rate distribution networks in both established and developing nations are the main players in the market. During the projection period, major firms like UPS and Zipline International are anticipated to take a commanding share.

One of the main variables affecting the market is the adoption of affordable services and precise and safe transportation. The goal of forming alliances with retailers, distributors, and IT firms is to draw in new competitors.

In May 2020, Zipline International has been collaborating with the U.S. FAA based on the drone delivery concept specifically for small pilot projects. The company utilized autonomous drones to deliver about 1.8 kg pound cargo in the range of 80 Km, dropping the package with the help of a parachute for a stable and safe landing.

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This release was published on openPR.