The global drone delivery services market is poised for remarkable growth, starting at a value of US$322.2 million in 2022 and projected to surge at an impressive CAGR of 33.0% over the forecast period from 2022 to 2032, reaching a valuation of US$5,596 million. The historical demand trend from 2016 to 2021 also displayed a significant 5.8% value CAGR. The increasing demand for drone delivery services has prompted governments to ease airspace restrictions, allowing drones to operate, thereby facilitating new delivery routes for remote areas and contributing to the expansion of the drone delivery services market.
In the North American region, the growth scenario for drone delivery services is particularly robust. Expected to account for 45% of the global market by 2022, North America is set to experience rapid and substantial expansion. This growth is driven by the escalating trend of online shopping through e-commerce platforms and favorable regulations set by the FAA in the United States.
Many US companies are actively pursuing the commercialization of drone delivery services for various applications such as food delivery, medical supplies, logistics, and retail, further boosting growth prospects throughout the entire forecast period. The convergence of these factors highlights a promising future for the drone delivery services market in North America.
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With advances made in drone technology, the drone delivery services market is also expected to grow. The integration of advanced technological tools into drones would allow them to obtain precise ground data that can then be linked to more traditional mapping methods.
Moreover, the incorporation of sense and avoid systems in aerial delivery drones are gaining traction because of the greater safety and other benefits they bring outside the visual line of sight. Cameras, radars, LiDAR, and other tools that assist in the detection and avoidance of obstacles are categorized as sense and avoid systems.
Technological advancements in these tools facilitate the independent and safe execution of drone delivery services which, in turn, further contribute to the expansion of the drone delivery services market over the forecast period.
“Rising usage of drones, advancements in drone technology, and relaxation in government policies will likely drive the market growth of the drone delivery services market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Unpredictable weather patterns may impede the market growth.
- In 2022, North America will account for about 45% of the global market share.
- The Asia Pacific region is predicted to acquire about 30% of the overall market share.
- In terms of end-user, e-commerce is expected to dominate the market.
- By delivery distance, short-distance drone delivery services are constantly gaining popularity over the assessment period.
Competitive Landscape
SenseFly Ltd., Airware, Inc., DroneDeploy Inc., Sharper Shape Inc., Sky Futures Ltd., Cyberhawk Innovations Ltd., Aerobo, DroneCloud, Sentera, LLC, Agribotix LLC, Amazon.com, Inc., JD.com, Inc., and Deutsche Post DHL, among others, are some of the major players in the drone delivery services market profiled in the full version of the report.
Leading players are focusing on partnerships, collaborations, and agreements to gain a competitive edge in the market.
More Insights into Drone Delivery Services Market Report
In its latest report, FMI offers an unbiased analysis of the global drone delivery services market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented based on delivery distance (close range drone delivery services, short range drone delivery services, mid-range drone delivery services, endurance drone delivery services), propellers (tricopter drones, quadcopter drones, hexacopter drones, octocopter drones), end use (drone delivery services for e-commerce, drone delivery services for weather monitoring, drone delivery services for emergency aids, drone delivery services for other end uses), and region.
According to the latest FMI reports, based on region, the drone delivery services market in North America is anticipated to experience impressive growth over the forecast period. The regional market will account for about 45% by the end of 2022. This growth can be attributed to the strong presence of e-commerce as well as favorable government policies in countries like the U.S.A. Many enterprises in the U.S. are keen on commercializing drone delivery services for food, retail, logistics, medical items, and many others which will further boost the regional market growth.
Based on segmentation, in terms of end-user, the e-commerce sector is likely to lead the market growth while the short range drone delivery services will lead the market on the basis of delivery distance over the assessment period.
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Key Segments Profiled in the Industry Survey
Market by Delivery Distance:
- Close Range
- Short Range
- Mid-Range
- Endurance
Market by Propellers:
- Tricopter Drones
- Quadcopter Drones
- Hexacopter Drones
- Octocopter Drones
Market by End Use:
- E-Commerce
- Weather Monitoring
- Emergency Aids
- Other End Uses
Market by Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Author:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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