Drone Package Delivery Market Business Opportunities and Challenges in 2020 | Pre and Post COVID-19 Impact Analysis of Bus Rapid Transit Industry by Fortune Business Insights™
The global ''drone package delivery market''size is projected to reach USD 7,388.2 million by 2027,exhibiting a CAGR of 41.8% during the forecast period. Widespreaddeployment of drones to deliver medical and food supplies amid the COVID-19pandemic is expected to aid the market make substantial gains, observes FortuneBusiness Insights™ in its report, titled “Drone Package DeliveryMarket Size, Share & COVID-19 Impact Analysis, By Type (Fixed Wing andRotary Wing), By Package Size (Less Than 2 Kg, 2-5 Kg, and above 5 Kg), ByEnd-Use (Restaurant & Food Supply, E-commerce, Healthcare, Retail Logistics& Transportation and others), and Regional Forecast, 2020-2027”.
The coronavirus has forced people tomaintain social distance to avoid contracting the infection, which has made thedelivery of essential supplies difficult, particularly in remote regions. Inresponse, several drone service companies have risen to the occasion and aresupporting government efforts to provide aid to distressed areas. For example,the drone company, Zipline, has been delivering critical medical supplies toclinics in Ghana and Rwanda in Africa during the pandemic period. In Canada, DroneDelivery Canada will be deploying its multi-rotor drone, Sparrow, to provideCOVID-19 cargo to the Beausoleil First Nation Community in Ontario. Similarly,in China, JD Logistics utilized drones to deliver commercial and medical cargoin the Hubei and Wuhan provinces. The COVID-19 pandemic has, therefore, given abooster shot to this market, escalating the adoption of unmanned aerial systemsworldwide.
The report states that the market valuestood at USD 642.4 million in 2019 and shares the following information:
- A comprehensive depiction of the industry outlook and trends;
- Detailed insights into the upcoming opportunities in the market for drone package delivery;
- Tangible analysis of the market drivers, restraints, and all possible segments; and
- In-depth assessment of the regional and competitive dynamics impacting the market.
Driving Factor
The emergence of Drone Startups inLogistics to Augment Market Potential
The growing demand for enhancing theefficiency of logistics operations has triggered a sudden emergence of startupsspecializing in drone technologies to cater to these needs. For example,DroneScan, a South Africa-based startup, designs drones that transmits livedata of scanned items in warehouses, making inventory management more efficientand upping the productivity quotient of workers.
An Italy-based startup, Archon,provides autonomous robotic drone services to facilitate supervised as well asunsupervised inspection of warehousing and logistics operations. The dronestartup culture is gathering momentum in developing countries as well. Forexample, in India, several startups have spawned in the past few years that areproviding next-gen drone services. Aarav Unmanned Systems, for instance, wasstarted in 2013 and is India’s first drone company to develop drone solutionsfor commercial applications in the public and private sectors. Thesedevelopments are expected to power the drone package delivery market growth inthe forthcoming years.
Regional Insights
North America to Top Other RegionsBacked by Rising Preference for Drone Deliveries by Shoppers
North America is set to dominate thedrone package delivery market share during the forecast period owing to theincreasing inclination of online shoppers towards delivery of goods throughunmanned aerial vehicles (UAVs). With a market size of USD 237.7 million in2019, the region is likely to retain its leading position, which will besupported by the strong financial support to drone startups in the US andCanada.
In Europe, the market is anticipated tobe driven by the growing presence of tech companies that are expanding theiroperations in the region through collaborations and partnerships. Asia Pacificis expected to create exciting opportunities for market players on account ofthe emerging trend of online purchasing of groceries in the large cities ofIndia, China, and Indonesia.
Competitive Landscape
Supportive Regulations to Novel Ideasto Feed Competitive Ardor of Key Players
With the scope for innovation widening,key players in the market drone package deliveries are engaged in coming upwith novel drone solutions, especially during the current coronavirus crisis.Supporting their efforts are regulatory bodies that are easing flying norms andrules to ensure timely delivery of essential supplies to people.
Industry Developments:
- August 2020: Amazon secured clearance from the Federal Aviation Administration (FAA) to deploy its Prime Air delivery drone fleet to efficiently and securely deliver packages to customers. Amazon is now the third company to receive FAA approval to operate drones on a commercial scale after UPS and the Alphabet-owned company, Wing.
- May 2020: Wing, a subsidiary of Google’s parent company Alphabet, announced that it has made thousands of drone deliveries in Australia during the pandemic. Launched in Canberra in 2019, the demand for Wing’s services rose by 500% between February and April 2020.
List of Key Companies Profiled in theDrone Package Delivery Market:
- DroneScan (South Africa)
- Cheetah Logistics Technology (US)
- Flytrex (Israel)
- Flirtey (US)
- Matternet, Inc. (US)
- Boeing (US)
- Amazon Inc. (US)
- Wing Aviation LLC (US)
- Workhorse Group Inc. (US)
- Drone Delivery Canada Corp. (Canada)
- Zipline (US)
- DHL International GmbH (Germany)
- United Parcel Service of America, Inc. (US)
- FedEx (US)
Browse Detailed Summary of ResearchReport with TOC:
https://www.fortunebusinessinsights.com/drone-package-delivery-market-104332
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments –Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights-Impact of COVID-19 Pandemic on Global Drone Package Delivery Market
- Impact of COVID-19 Pandemic on the Global Drone Package Delivery Market
- Steps Taken by the Industry/Companies/Government to Overcome the Impact
- Key Development in the Industry in Response to COVID-19 Impact
- Global Drone Package Delivery Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Fixed Wing
- Rotary Wing
- Market Analysis, Insights and Forecast – By Package Size
- Less Than 2 Kg
- 2-5 Kg
- Above 5 Kg
- Market Analysis, Insights and Forecast – By End-use
- Restaurant & Food Supply
- E-commerce
- Healthcare
- Retail Logistics & transportation
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of World
TOC Continued…!
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