Press release
Drone Package Delivery Market Report 2024 - Drone Package Delivery Market Size, Share And Trends
Drone Package Delivery Market
According to The Business Research Company's, The drone package delivery market size has grown exponentially in recent years. It will grow from $2.1 billion in 2023 to $3.04 billion in 2024 at a compound annual growth rate (CAGR) of 44.7%. The growth in the historic period can be attributed to regulatory developments, pilot programs and trials, global expansion of delivery services, integration with 5g networks .
The drone package delivery market size is expected to see exponentially grown in the next few years. It will grow to $13.32 billion in 2028 at a compound annual growth rate (CAGR) of 44.7%. The growth in the forecast period can be attributed to urban air mobility integration, development of advanced ai and automation, government support and regulatory frameworks, expansion of drone delivery networks, rise of hybrid delivery models, rising e-commerce demand. Major trends in the forecast period include advancements in battery technology, technological convergence, investments and funding, advancements in drone technology, drone swarming technology.
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Market Drivers and Trends:
The increase in e-commerce and online shopping is expected to propel the growth of drone package delivery market going forward. E-commerce and online shopping refer to the electronic buying and selling of goods and services over the internet, providing consumers with the convenience of making purchases and transactions through digital platforms. Drones excel in addressing last-mile delivery challenges, reducing delivery times, and providing a competitive edge to businesses seeking to meet consumer expectations. They offer cost efficiency, contactless delivery, and improved customer experiences, all of which align with the evolving demands of the e-commerce and online shopping landscape. The competitive nature of the market and regulatory support further accelerate the adoption of drone package delivery solutions. For instance, in May 2021, according to United States Department of Commerce, a US-based government agency, in the first quarter of 2021, US e-commerce sales saw a substantial increase of 39.0 percent compared to the same period in 2020. Therefore, the increase in e-commerce and online shopping is driving the growth of drone package delivery market.
The growing technological advancements are a key trend gaining popularity in the drone package delivery market. Over the last several years, drones have become extremely prevalent as many individuals and organizations completely accept and incorporate this technology into their business model. For instance, in May 2022, Skyway, an air traffic navigation provider partnered with Zing Drone Delivery, tested their first-ever food product delivery by drone. Zing's advanced delivery systems were used in cooperation with strategic partners to bring its services to the area.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Amazon.com Inc.; United Parcel Service of America Inc.; Zipline International Inc.; FedEx Corporation; DHL International GmbH; The Boeing Company; Matternet Inc.; Flirtey Holdings Inc.; Drone Delivery Canada Corp.; Flytrex Aviation Ltd.; Cheetah Logistics Technology; Wing Aviation LLC; Airbus S.A.S.; Skycart Inc.; DroneScan Co.; Edronic; Altitude Angel Ltd.; Hogfish Ventures Ltd.; BIZZBY.; Wingcopter GmbH; Volansi Inc.; Manna Aero Ltd.; Workhorse Group Inc.; Skyports Solutions Ltd.; Verizon Communications Inc.; Elroy Air Inc.; EHang Holdings Limited; Valqari LLC; SkyRyse Inc.; Aha Drones LLC; Quantum-Systems GmbH; FlyDragon Aviation Technology Co. Ltd.; Airspace Systems Inc.; Skysense Inc.; Rigi Technologies AG; Vayu Inc.; Cleveron AS
Drone Package Delivery Market 2024 Key Insights:
• The drone package delivery market size will grow to $13.32 billion in 2028 at a compound annual growth rate (CAGR) of 44.7%.
• Rise Of E-Commerce And Online Shopping To Drive Market Growth
• Technological Advancements Drive Innovation In The Drone Package Delivery Market
• North America was the largest region in the drone package delivery market in 2023
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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