Drone Package Delivery Market is likely to reach 2.1 billion USD in the year 2023, which is expected to grow to 27.4 billion USD by the end of 2030 with a compound annual growth rate of 44.7% during the forecast period of 2023 to 2030.

The delivery drone is a type of unmanned aerial vehicle used to distribute packages in any locality which was available in three different types of fixed wing drones, rotor drones, and hybrid drones. The market value of Drone Package Delivery is expected to increase more during the forecast period with the increasing investments.

Driving Factors:-

One of the major driving factors of the global Drone Package Delivery market is the increasing demand for delivery drones in the health sector. Rising demand for delivery drones across the globe and technological advancements in delivery drone batteries are some of the major driving factors of the Drone Package Delivery market.

Another prominent aspect of the Drone Package Delivery market is the rise in demand for faster delivery and amendments in the regulatory framework to encourage drone package delivery that propels the growth of the worldwide business. Growing demand for fast delivery and reduction of carbon emissions is also a growth factor of the global Drone Package Delivery market.

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Challenges:-

High cost involved in the equipment is one of the major restraints affecting the growth of the market of Drone Package Delivery. Another major limitation to the development of the market of drone delivery packages is the lack of technical expertise about operating drones and the low battery life of delivery drones. Stringent regulations from the government authorities is another challenge to the expansion of drone delivery packages.

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Recent Market Developments:-

In the month of December 2018, an Indian food delivery company Zomato has acquired a drone delivery startup TechEagle Innovations aimed to enable a drone-based delivery ecosystem in India.

In the month of May 2019, DHL express company partnered with Chinese drone manufacturer EHang to launch a last-mile drone delivery solution in urban parts of China.

Segmentation Analysis:-

The global Drone Package Delivery market is segmented on the basis of solution, on the basis of duration, on the basis of range, on the basis of package size, and on the basis of region.

Based on the solution, the Drone Package Delivery is segmented into Service, software, platform and infrastructure.



Based on duration, the Drone Package Delivery market is bifurcated into two types, namely short duration (< 30 minutes) and long duration (> 30 minutes).

Based on range, the Drone Package Delivery market is mainly divided into short range (< 25 kilometers) and long range (> 25 kilometers).

Based on package size, the market of Drone Package Delivery is divided into 5 kilograms.

Regional Analysis:-

The Drone Package Delivery market is spread across various regions all around the world such as North America (US, Mexico, Canada and rest of North America), Europe region (Italy, UK, France, Germany, Spain and rest of Europe), Asia Pacific region (India, Japan, China, Australia and rest of Asia Pacific) and rest of the world.

Asia Pacific region holds the major share of the market owing to the retail and e-commerce, which are the most dominant applications for the drone package delivery market in the Asia Pacific region, followed by healthcare and pharmacy. Asia Pacific region is also predicted to continue its dominion in the market during the outlook period.

North America region holds the second-largest share of the Drone Package Delivery market owing to the rise in demand for faster delivery and amendments in the regulatory framework to encourage drone package delivery in this area.

Europe is expected to increase the market of Drone Package Delivery owing to the increasing demand for delivery drones in the health sector and increasing investments by the companies in this locale for the new technological advancements.

Key market players:-

Some of the key players of the global Drone Package Delivery market are Workhorse Group Inc. (US), Wing Aviation LLC (US), Boeing (US), Zipline (US), Flirtey (US), DHL International GmbH (Germany), Amazon.com, Inc. (US), FedEx (US), United Parcel Service of America, Inc. (US), Matternet, Inc. (US), Drone Delivery Canada Corp. (Canada), Flytrex (Israel) and Airbus S.A.S. (Netherlands).

COVID-19 impact on Drone Delivery package market:-

Coronavirus has impacted the global industries by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. Furthermore, a reduction in drone orders is a likely knock-on effect of the global pandemic, as commercial markets have always been the primary consumers of the drone delivery package market.

The ongoing situation has become a major threat for the Drone Package Delivery market. The companies restarted their operation as the lockdown was lifted with some stringent regulations by the government authorities, which will support the supply chain to some extent.

As per the analysis, the market of Drone Package Delivery is expected to increase in the next few months with all the industries started their manufacturing of the products which in turn going to increase the revenue rate. The market of Drone Package Delivery is likely to propel with the rise in demand for faster delivery and amendments in the regulatory framework to encourage drone package as well as increasing of demand for delivery drones in the health sector and increasing investments by the companies for the new technological advancements.