The drone logistics and transportation market size was valued at US$ 9.52 billion in 2022 and is expected to hit US$ 54.71 billion by 2032 with a CAGR of 19.7% from 2023 to 2032.
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With rapid development of technology, the drones are now extensively being used in managing the logistics and transporting them to their destination. A large number of companies across the globe have started using drones to manage their supply chain management systems. Drones are also used in mining operations, land survey operations, agriculture land and crop inspections and many more. All these attributes are expected to drive the growth of the Drone logistics and transportation Market.
The drones find their utility in diverse sectors such as warehousing, manufacturing, distribution facilities and many others. In the warehousing facilities the drones are now being widely used in order to monitor the inventory and even sometimes it is used in transporting small items that reduces the use of forklifts and conveyor systems that makes the work cost effective. Therefore, all these beneficial features provided by the drones is anticipated to fuel the growth of the Drone logistics and transportation Market.
The outbreak of COVID-19 has proved to be a blessing for the drone industry. In order to control this outbreak, the most important factor is to maintain social distancing and the drones helped in managing many activities that helped in limiting the physical contact among people such as checking the temperature at various facilities, delivering medical supplies and many others. The versatility with which the drones carry out their operations is one of the primary attributes that has helped in boosting the growth of the Drone logistics and transportation Market.
Furthermore, the food delivery and logistics companies are continuously researching and developing robust technologies that will efficiently make use of drones in the delivery services and this factor is estimated to drive the growth of the Drone logistics and transportation Market. Also, in the military sector the drone technology is being widely used in order to develop combat drones to be used in the military operations and this attribute is estimated to drive the growth of the Drone logistics and transportation Market.
Drone Logistics and Transportation Market Report Scope
|Market Size in 2023||USD 10.87 Billion|
|Market Size by 2032||USD 54.71 Billion|
|Growth Rate from 2023 to 2032||CAGR of 19.7%|
|Forecast Period||2023 to 2032|
|Segments Covered||Solution, Sector, Drone, Region|
|Regional Scope||North America, APAC, Europe, Latin America, MEAN, Rest of the World|
|Companies Mentioned||PINC Solutions, CANA Advisors, Drone Delivery Canada, DroneScan, Hardis Group, Infinium Robotics, Matternet, Workhorse Group|
On the basis of Solution, the market is divided into warehousing, shipping, infrastructure and software. In the warehousing industry the drones are widely used to monitor the stocks and even they help in the movement of small items and this helps in saving time and is energy efficient.
In the shipping and transportation industry the drones are used in the delivery services of the goods to the end users. The delivery services carried out by the drones are much efficient and save time when compared with the traditional delivery arrangements. It also saves the distribution cost, improves the delivery speed, easily accessible in remote locations and reduces carbon dioxide emissions. All these benefits provided by the drones will fuel the growth of the Drone logistics and transportation Market.
The shipping industry is expected to grow with the highest CAGR during the forecast period because of the rapid adoption of drone in the delivery operations across the world.
On the basis of sector, the market is categorized into Military and Commercial. The commercial sector is expected to lead the market with the highest CAGR owing to the increase in demand of the drones in the logistics and transportation sector during the forecast period. This segment largest contribution will be dependent upon the delivery services by the use of drone especially in the ecommerce sector. This factor is estimated to drive the growth of the Drone logistics and transportation Market.
Moreover, in the military sector with the advancement of technologies, the demand for combat drones is continuously surging. This rise in demand for the combat drone by the defense organizations across the globe is anticipated to fuel the growth of the Drone logistics and transportation Market.
On the basis of drone, the market is segmented into freight drones, passenger drones and ambulance drones. The freight drones are again categorized into delivery drones and cargo drones. The delivery drones are used in the delivery services offered by the logistics industry and the food delivery companies whereas the cargo drones are used to transfer the logistics which is of more than 10kg from one place to another. The delivery drones is expected to grow significantly with highest CAGR owing to the rapid growth of the ecommerce industry. This attribute is expected to drive the growth of the Drone logistics and transportation market.
The ambulance drones are used to deliver the emergency medical supplies to the healthcare facilities. In case of emergencies, time acts as a crucial factor and the delivery by drones are time efficient therefore, it is beneficial to be used in the healthcare facilities. This attribute is expected to boost the growth of the Drone logistics and transportation Market.
North America is expected to lead the market in the upcoming years because of the rapid adoption of drones in the delivery services in this region. Also, the development of military drones widely used in the combat operations will have a significant impact in the growth of the Drone Logistics and Transportation market.
The Asia-Pacific region is also expected to grow remarkable during the forecast period due to the increase in demand for drone delivery services and the growing government investment for the development of drone technology. The rising use of drone in the military combat operation is also a factor that has notably impacted the growth of the market.
Key Companies Profiled
The global drone logistics and transportation market is characterized by the presence of various small and big players. The major market player includes PINC Solutions, CANA Advisors, Drone Delivery Canada, DroneScan, Hardis Group, Infinium Robotics, Matternet, and Workhorse Group. As the market is competitive in nature, the players are indulged in raising their competitive share by means of continuous innovation and improving the efficiency of operations by the drones.
Segments Covered in the Report
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