Drone Delivery Market: Current and Future Growth Analysis

The Drone Package Delivery Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Drone Package Delivery Global Market Report 2024, The drone package delivery market size has grown exponentially in recent years. It will grow from $2.1 billion in 2023 to $3.04 billion in 2024 at a compound annual growth rate (CAGR) of 44.7%. The growth in the historic period can be attributed to regulatory developments, pilot programs and trials, global expansion of delivery services, integration with 5g networks .

The drone package delivery market size is expected to see exponentially grown in the next few years. It will grow to $13.32 billion in 2028 at a compound annual growth rate (CAGR) of 44.7%. The growth in the forecast period can be attributed to urban air mobility integration, development of advanced ai and automation, government support and regulatory frameworks, expansion of drone delivery networks, rise of hybrid delivery models, rising e-commerce demand. Major trends in the forecast period include advancements in battery technology, technological convergence, investments and funding, advancements in drone technology, drone swarming technology.

The increase in e-commerce and online shopping is expected to propel the growth of drone package delivery market going forward. E-commerce and online shopping refer to the electronic buying and selling of goods and services over the internet, providing consumers with the convenience of making purchases and transactions through digital platforms. Drones excel in addressing last-mile delivery challenges, reducing delivery times, and providing a competitive edge to businesses seeking to meet consumer expectations. They offer cost efficiency, contactless delivery, and improved customer experiences, all of which align with the evolving demands of the e-commerce and online shopping landscape. The competitive nature of the market and regulatory support further accelerate the adoption of drone package delivery solutions. For instance, in May 2021, according to United States Department of Commerce, a US-based government agency, in the first quarter of 2021, US e-commerce sales saw a substantial increase of 39.0 percent compared to the same period in 2020. Therefore, the increase in e-commerce and online shopping is driving the growth of drone package delivery market.

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The drone package delivery market covered in this report is segmented –

1) By Drone Type: Fixed Wing, Rotor Drone, Hybrid Drones
2) By Range: Short <25 Kilometers, Long >25 Kilometers
3) By Package Size: < 2 Kilograms, 2 – 5 Kilograms, > 5 Kilograms
4) By Application: E-Commerce, Quick Service Restaurant, Convenience Stores, Healthcare, Other Applications

Warehouse operators are now constructing multi-story warehouses in densely populated cities and expensive land spaces. A multi-story warehouse is a warehouse consisting of more than one floor designed to increase the usable floor space per square foot of land. It results in a better land utilization rate and enhances operational efficiency. Multi-story warehouses have been successful in densely populated cities predominantly in Asian countries such as China, Japan, Hong Kong, and Singapore, due to high land and construction costs, small site areas, and limited industrial land availability. Multi-story warehouses in Hong Kong average 12 floors. For instance, in September 2021, Colliers, a Canada-based diversified professional services and investment management company, launched the first multi storey warehouse in Sydney Australia, the Favco Industrial Park. The Favco Industrial Park will provide superior logistics space, with leases spanning two levels from 6,842 to 30,592 square meters. Several recessed loading docks, truck access with two-level B-Double compatibility, and extremely high internal clearance are noteworthy features. By skillfully threading a sequence of ramps, the adaptable warehouse space makes the most of the 30 m height restriction and offers seamless B-Double access to all levels. Australia's industrial warehousing demands can be more effectively managed with the help of the new multi-story warehouse.

The drone package delivery market report table of contents includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

Major Players: