SEATTLE, Aug. 24, 2021 – According to Coherent Market Insights, the global delivery drones market was valued at US$ 497.5 Mn in 2021 and is expected to exhibit a CAGR of 41.3% during the forecast period (2021-2028).
Key trends and analysis of the Global Delivery Drones market:
The growth of the global delivery drones market is majorly attributed to the increasing focus of private as well as public organizations on partnerships and collaboration for the adoption of delivery drones services. For instance, in October 2017, Flirtey, a drone delivery service company, collaborated with REMSA Health, an ambulance service provider in the U.S., to introduce an automated external defibrillator (AED) delivery drone service in the U.S.
In addition, the adoption of delivery drones is majorly getting increased in various end use industries such as retail, restaurants, and healthcare. For instance, in the year 2017, Ele.me, a Chinese food delivery platform owned by Alibaba Group, launched an E7 drone model that could carry a payload of six kg at a maximum speed of 65 km per hour for a distance of 20 km.
However, certain government and regulatory bodies are not allowing for flying in their ranges, owing to potential threats via the surveillance of banks, government buildings, parks, or schools using online aerial and satellite images. For instance, in January 2017, in India, the Mumbai Police banned all flying objects such as drones and gliders in the city. This action was taken, as they believed that terrorist attacks can be carried out by terrorists through drones that can be controlled by remote or remote-controlled aircraft in high-altitude areas. If adequate safety measures are not taken, and lack of proper security and privacy issues are expected to hinder the market growth over the forecast period.
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Key Market Takeaways:
The global delivery drones market was valued at US$ 497.5 Mn in 2021 and is expected to reach US$ 5586.5 Mn by 2028, exhibiting a CAGR of 41.3% between 2021 and 2028.
North America held a dominant position in the global delivery drones market in 2020 and is expected to retain its dominance throughout the forecast period due to the presence of several key players such as Amazon, UPS, Google, and DHL are offering drone delivery in inaccessible areas in the North America region, which has led to an increase in demand for delivery drones. For instance, according to Coherent Market Insights analysis, the North American market accounted for a market share of US$ 124.2 million in 2020 and is expected to exhibit significant growth during the forecast period.
Among component, propulsion system segment held a dominant position in the market in 2020 owing to the technological advancements in propulsion systems for delivery drones. For instance, in July 2019, Ecole Polytechnique Fédérale de Lausanne (EPFL), a research institute startup, Flybotix, developed a new type of drone with a propulsion system consisting of only two propellers. In addition, the use of hybrid-electric propulsion systems can significantly reduce fuel consumption in delivery drones, which is expected to propel the segment growth.
Competitive Landscape:
Major players operating in the global delivery drones market include: Airbus SE, Deutsche Post DHL Group, Drones America, EHang, JD.com, Matternet Inc., SKYCART INC, SZ DJI Technology Co. Ltd, The Boeing Company, and Wing Aviation LLC.
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Market Segmentation:
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