Drone Package Delivery Market Size to Reach USD 3694.38 Million by 2027 at CAGR 57.55% - Valuates Reports

Drone Package Delivery Market Size to Reach USD 3694.38 Million by 2027 at CAGR 57.55% - Valuates Reports

PR Newswire

BANGALORE, India, Jan. 4, 2022

BANGALORE, India, Jan. 4, 2022 /PRNewswire/ -- The Drone Package Delivery Market is Segmented by Type (Software, Hardware, Service), Application (Supermarket, Pharmacy, Store, Other). The report covers global opportunity analysis, industry trends and forecasts from 2021 to 2027.

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In 2020, the global Drone Package Delivery market size will be USD 241.53 Million and it is expected to reach USD 3694.38 Million by the end of 2027, with a Compound Annual Growth Rate (CAGR) of 57.55% during the forecast period 2021-2027.

Major Factors Driving The Growth Of The Drone Package Delivery Market Are:

The growing need for quick delivery, increased regulatory framework revisions to support drone package delivery, and rising demand to reduce carbon emissions are the major factors expected to drive the growth of the drone package delivery market. The speed with which packages are delivered is the most significant benefit of deploying drones for delivery. Drones can save a lot of time since they don't have to deal with traffic or long land routes.

Furthermore, the operating costs of a drone delivery service are lower than those of a vehicle delivery service. This, in turn, is projected to increase the growth of the drone package delivery market.

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Trends Influencing The Growth Of The Drone Packaging Market:

Increasing demand for quick, instant, same-day delivery and emergency supplies is expected to drive the growth of the drone packaging market. Customers are willing to pay more for same-day delivery as the need for speedier package delivery grows. The usage of delivery drones is growing in e-commerce, fast service restaurants, convenience stores, and the healthcare sector, among other places, thanks to advances in cargo transportation and increased investments from logistics and transportation firms. Moreover, the cost of delivery is reduced tremendously by using drones. This factor is expected to further propel the drone package delivery market.

Along with the ongoing COVID-19 epidemic, increasing carbon footprint and global warming are two of the world's largest issues right now. In such a critical situation, commercial drone-based delivery, specifically for last-mile delivery (LMD) of various products, is excellent for lowering carbon emissions. This is expected to further fuel the Drone Package Delivery market.

Furthermore, the delivery of food and medicine supplies during medical emergencies, as well as the distribution of relief products during extreme environmental circumstances or natural tragedies, are expected to boost the Drone Package Delivery market.

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Drone Package Delivery Market Share Analysis:

Based on the solution, the service segment is expected to be the most lucrative. Online retailers and logistics organizations are concentrating their efforts on building drones that can carry a large payload and deliver products to customers' doorsteps. 

Based on region, the North American and Asia Pacific regions are projected to be the most lucrative segment. The expanding trend of online buying on e-commerce platforms, as well as favorable FAA regulations in the United States, are credited with the region's rise. During the projected period, the increase in investments from major players to support start-up enterprises in building parcel service platforms in the region would contribute to the region's growth.

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Leading Players in the Drone Package Delivery Market

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SIMILAR REPORTS

-  The global Drone Logistics and Transportation market size is projected to reach USD 12180 Million by 2027, from USD 5752.2 Million in 2020, at a CAGR of 10.8% during 2021-2027.

-  The global autonomous last mile delivery market size is expected to be valued at USD 11.90 Billion in 2021 and is projected to reach USD 84.72 Billion by 2030, registering a CAGR of 24.4% during the forecast period.

-  The global Last Mile Delivery market size is projected to reach USD 68180 Million by 2027, from USD 35230 Million in 2020, at a CAGR of 9.9% during 2021-2027.

-  The global Same-day Delivery market size is projected to reach USD 123050 Million by 2027, from USD 11620 Million in 2020, at a CAGR of 38.5% during the forecast period 2021-2027.

-  The global First and Last Mile Delivery market size is projected to reach USD 642.2 Million by 2027, from USD 354.6 Million in 2020, at a CAGR of 8.4% during 2021-2027.

-  The global Drone Services market size is projected to reach USD 51270 Million by 2027, from USD 3696 Million in 2020, at a CAGR of 45.3% during 2021-2027.

-  The global Drone Software market size is projected to reach USD 10030 Million by 2027, from USD 1004 Million in 2020, at a CAGR of 38.9% during 2021-2027

-  The global Commercial Drone market size is projected to reach USD 34500 Million by 2026, from USD 6510.8 Million in 2020, at a CAGR of 32.0% during 2021-2026.

-  The global evtol aircraft market size was valued at USD 45310 Million in 2020 and is expected to reach USD 97370 Million by the end of 2027 with a CAGR of 11.1% during 2021-2027.

-  The global Electric Aircraft market size is projected to reach USD 9566 Million by 2027, from USD 6753.8 Million in 2020, at a CAGR of 4.6% during 2021-2027.

-  In 2020, the global Smart Drone Services market size was USD 1353.6 Million and it is expected to reach USD 2089.8 Million by the end of 2027, with a CAGR of 6.4% during 2021-2027.

-  The global medical drones market size is projected to reach USD 950 Million by 2026, from USD 274 Million in 2020, at a CAGR of 23% during the forecast period 2020-2026

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