Global Drone Package Delivery System Market.
Global Drone Package Delivery System Market is expected to reach USD 744.2 Million by 2030, growing with a 38.79% CAGR during the forecast period.
Due to traffic congestions, there has been a significant delay in the delivery of retail goods, food, medicines, and postal delivery in urban areas. Thus, there has been an increasing demand for faster package delivery services in urban areas. Therefore, the demand for drones has been increasing for package delivery applications in the last few years.
Global Drone Package Delivery System Market has been segmented based on Solution, Duration, Range, Package Size and End Use.
Based on solution, the global drone package delivery system market has been segmented into platform, software, infrastructure, and service. The platform segment dominated the market with a valuation of USD 318.4 million in 2019; it is projected to reach a valuation of USD 11,404.4 million by 2030. Platform includes the type of drones that would be required for parcel delivery. Drone types are selected based on their end use, such as long-distance delivery and emergency (i.e., short distance) delivery, among others. Moreover, companies entering or expanding their presence within the drone package delivery market need to consider drone platforms of the utmost importance before designing strategies.
Based on duration, the global drone package delivery system market has been classified into short duration (30 Minutes). The long duration segment is expected to exhibit the higher CAGR of 39.63% during the forecast period. These drones include long-range beyond visual line of sight (BVLOS) drones that are capable of flight times of over 30 minutes. These drones have a higher payload carrying capacity and a larger battery to sustain longer flight durations. Furthermore, these drones are expected to be used in e-commerce parcel delivery applications for their high payload carrying capacity.
By range, the global drone package delivery system market has been divided into short range (25 Kilometers). The short range segment is expected to hold the larger market share and was valued at USD 530.0 million in 2019. Drones with a range of less than 25 kilometers are expected to be used for medical emergency applications. These drones are usually multirotor drones with a low load-carrying capacity to consume less battery and deliver parcels over a smaller distance. The cost of these drones is relatively low and features a simple construction.
Based on package size, the global drone package delivery system market has been classified into 5 kilograms. The