The delivery drones market is expected to grow at a significant pace during the forecast period, due to the surging application of drones in the commercial sector. With innovation in cargo transportation, there has been increased usage of delivery drones in e-commerce, quick service restaurants, convenience stores, and healthcare sectors, among others. As a result, it is estimated that by the end of the forecast period, usage of delivery drones will rise significantly.
Moreover, companies such as Amazon, UPS, Google, and other delivery service providers are experimenting with Unmanned Aerial Vehicles (UAV) for home delivery of goods. Recently, Airbus unveiled Skyways drone delivery services in Singapore, which is expected to fuel the market growth.
However, stringent regulations by the Federal Aviation Administration (FAA) and logistical challenges are restricting the use of delivery drones. It is also expected that poor infrastructure and complex terrain will be one of the major logistic issues for delivery drones. Therefore, high expertise and proper knowledge are required to maneuver delivery drones. Furthermore, the limited range of delivery drones (within ten km) is a major restraint for the market growth.
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Major Key Players
United Parcel Service (U.S.),
Uber Technologies Inc. (U.S.),
Skycatch Inc. (U.S.),
Airbus S.A.S (France),
Zipline International Inc. (U.S.), Alibaba (China), Flirtey (U.S.), FedEx Corporation (U.S.), and Google (U.S.).
The global Delivery Drones Market is segmented into type, component, application, capacity, and region. By type, the market has been segmented into rotary-wing drones and fixed-wing drones. Since, the rotary-wing drones are much suited for commercial applications, due to their VTOL (Vertical takeoff and landing) capability, ease of control and use, among others, the market for these drones is expected to grow at the highest rate during the forecast period.
By component, the market has been segmented into airframe, controller system, navigation system, propulsion system, battery, and others. Since, the companies are currently focusing on developing drone airframe structures with reduced size, high durability, and other improved features, the airframe segment of the market is expected to grow at the highest rate during the forecast period.
Likewise, by application, the market has been segmented by e-commerce, Quick Service Restaurants (QSR), convenience stores, healthcare, and others. The e-commerce segment of the market is expected to grow at the highest rate during the forecast period as there have been a high usage of drones for the delivery of products in the e-commerce industry. For instance, in 2016, Amazon signed a contract with the U.K government to test drones for package delivery. Such developments would further fuel the market.
By capacity, the market has been segmented into less than 10 Kg and more than 10 Kg. Since the Federal Aviation Administration (FAA) had put limitations on the weight carrying capacity of delivery drones to under 10 Kgs, the less than 10 Kg segment of the market is expected to grow at the highest rate during the forecast period.
In terms of region, the market in North America is expected to witness the highest growth during the forecast period. High production and increasing applications of delivery drones in commercial sectors are the major reasons for the high growth of this market. Similarly, in Asia-Pacific, the increasing government initiatives are expected to contribute to the growth of the regional market. Therefore, the global delivery drones market is estimated to witness a CAGR of more than 20% during the forecast period of 2018 to 2023.
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The report on the delivery drones market by Market Research Future covers extensive primary research. This is accompanied by a detailed analysis of the qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecast market size, in terms of value and volume, and the technological, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.