Global Delivery Drones Market is Expected to Grow at a CAGR of 22.3% During the Forecast Period 2018-2026

January 29, 2019

SEATTLE--(BUSINESS WIRE)--Jan 29, 2019--According to Coherent Market Insights, the global delivery drones market is projected to exhibit an impressive CAGR of 22.3% over the forecast period (2018 – 2026).

Key Trends and Analysis of the Delivery Drones Market:

Increasing usage and adoption of drones in e-commerce/ quick service and restaurants/ healthcare supplies, and introduction of hybrid drones for transportation and logistics sector are some major factors driving growth of the delivery drones market. Moreover, increasing delivery drone fleet sizes due to expanding geographical reach by e-commerce service providers such as Amazon, Google, and UPS are expected to aid in growth of the delivery drones market during the forecast period.

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Complex terrain and limited range of drones are some major factors restraining growth of the market, owing to lack of capability to drop the product at exact locations in dense and low connectivity areas such as rural and mountain areas. The limited range and lesser flight time of delivery drone is expected to be a negative factor, which will impact the delivery drones market during the forecast period.

The global delivery drones market is segmented on the basis of drone type, application, component, and region. Among drone type, rotor blade segment held the dominant position in the market in 2017, owing to its high quality of vertical take-off and landing capability, ease of use, and enhanced control and stability to hover in air.

Among application, e-commerce segment held the dominant position in the market in 2017, and is expected to retain its position throughout the forecast period. This is owing to high usage of drones in e-commerce industry for delivery of products in rural areas, where transportation vehicle cannot be reached or takes longer time. Furthermore, increasing e-commerce sector is expected to propel growth and adoption of delivery drones in different regions. Moreover, e-commerce companies are focusing on availing approvals for usage of drones for product delivery at different countries by the respective government, wherever restrictions or ban on use of drones is imposed under certain circumstances. For instance, in 2016, Amazon signed a contract with the UK government to test the usage of drones for product delivery in the country and in December 2016, the company delivered its first product (Amazon Fire TV streaming device and a bag of popcorn) with drone in the UK.

North America was the dominant region in the global delivery drones market in 2017, and is projected to maintain its dominance during the forecast period, owing to increasing use of delivery drones for commercial as well as military applications (medic supplies) in the region. Moreover, North America is expected to be the second fastest growing region for delivery drones market, owing to increasing production and deliveries of drones in the region for commercial purposes.

Furthermore, increasing adoption and usage of drones in China by e-commerce vendors such as JD.com and Alibaba are fueling the Asia Pacific delivery drones market in the region. Right now JD.com has around 40 delivery drones, which deliver various products at different locations in China.

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Key Market Takeaways:

The market is expected to witness a CAGR of 22.3% during the forecast period (2018–2026), owing to increasing adoption of drones in the e-commerce transportation & logistics industry Increase in demand for drones with higher payload capacity, higher range, and increased flight time for delivery of products such as e-commerce industry are some major factors driving growth of the market. Moreover, stringent government laws for drones in different regions act as a restraining growth of the market. For instance, government of various countries such as India, Argentina, Cuba, Slovenia, Saudi Arabia, Morocco, Barbados, and Uzbekistan does not allow the usage of drones for commercial purposes in their countries Some of the major players operating in the global delivery drones market include The Boeing Company, Airbus SE, CyPhy Works, JD.com, SKYCART Inc., Drone America, Matternet, SZ DJI Technology Co. Ltd., and others

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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SOURCE: Coherent Market Insights

Copyright Business Wire 2019.

PUB: 01/29/2019 09:10 AM/DISC: 01/29/2019 09:10 AM


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