(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Jan. 19, 2024 (GLOBE NEWSWIRE) -- The "Global Drone Logistics and Transportation Market by Platform (Freight, Passenger, Ambulance Drones), Application (Logistics, Transportation), Solution (Hardware, Software, Infrastructure), User, Range, and Region - Forecast to 2030" report has been added to ResearchAndMarkets's offering.
The global drone logistics and transport market is valued at USD 0.9 billion in 2023 and is projected to reach USD 16.1 billion by 2030, at a CAGR of 50.1% from 2023 to 2030
This market study covers the drone logistics and transportation market across various segments and subsegments. It aims to estimate this market's size and growth potential across different parts based on size, operational orbits, application, component, end user, and region. This study also includes an in-depth competitive analysis of the key players in the market, their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies they adopted.
Over the last few decades, the drone based logistics and transportation segments have seen increased adoption due to the autonomous operations and cost savings involved compared to the traditional transportation and logistics pathways.
This was enabled due to the rapid maturation of technology in drone autonomy as well as the readiness of infrastructure and software solutions that are required for this market to evolve. Growing involvement of commercial aviation enterprises and government investments in infrastructure are stimulating competition and innovation of drone logistics and transport market.
The Asia Pacific region is estimated to account for the largest share of 37.7% of the drone logistics and transportation market in 2023. The growth of the region is attributed to the relaxing guidelines regarding the use of UAVs by concerned authorities in Asia Pacific countries. For instance, The Civil Aviation Authority of Singapore (CAAS) and its regional counterparts began collaboration in November 2023, on a framework for safety rules and standards to regulate air taxi and drone operations.
Major companies profiled in the report include Alphabet Inc. (US), Hardis Group (France), Zipline (US), Volocopter GmbH (Germany), Textron Inc. (US) among others.
Based on platform, the freight drones segment will register the highest growth during the forecast period
Based on platform, the DLT market is segmented into freight drones, passenger drones, and air ambulance drones. The freight drones are further sub-segmented into delivery drones and cargo air vehicle and passenger drones are further sub-segmented into drone taxi, air shuttle, and personal air vehicles.
The freight drone segment of the DLT market is expected to grow from USD 0.9 billion in 2023 and is projected to reach USD 9.9 billion by 2030, at a CAGR of 41.2% during the forecast period.
Based on the solution, the hardware segment will register the highest growth during the forecast period
Based on solutions, the DLT market is segmented into hardware, software, and infrastructure solutions. Of these segments, hardware is expected to have the highest growth from USD 0.74 billion in 2023 to USD 13.13 billion in 2030, registering a CAGR of 51.3%.
Based on hardware, the drone logistics and transportation market has been further segmented into airframe, avionics & sensory payload, propulsion, and software.
With significant investments in the development of drone infrastructure, the possibility of using drones for the transportation of passengers and cargo is gaining traction. Prototypes to ease the problem of congested traffic in urban areas in the form of cost-effective passenger drones are being developed. The major solutions required for the use of drones for passenger and cargo transportation include the development of infrastructure and reliable aerial vehicles.
Based on application, the Logistics segment is estimated to have the highest growth during the forecast period
Based on application, the drone logistics and transportation market has been segmented into logistics and transportation. The logistics segment of the drone logistics and transportation market is projected to grow from USD 0.9 billion in 2023 to USD 9.9 billion by 2030, at the highest CAGR of 41.2%.
The logistics segment of the market consists of postal & package delivery, healthcare & pharmacy, retail & food, precision agriculture, industry delivery, weapons & ammunition, and maritime logistic services, all based on autonomous or semi-autonomous drones.
Based on users, the commercial segment is estimated to have the highest growth during the forecast period
Based on operation users, the drone logistics and transportation market has been segmented into government defense and commercial. The commercial segment is projected to grow from USD 839.86 million in 2023 to USD 13,765.50 million by 2030, at the highest CAGR of 49.7%. Reduction of human intervention leading to increased efficiency is driving the commercial segment of the DLT market.
Based on range, the close range (< 50 Km) segment is estimated to have the largest market share in 2023
Based on range, the drone logistics and transportation market has been segmented into Close range (< 50 kilometers), Short range (50 to 150 kilometers), Mid range (150 to 650 kilometers), and long range (>650 kilometers). The close range (< 50 kilometers) segment is estimated to account for the largest share (70%) of the drone logistics and transportation market in 2023. Their compact size and maneuverability make them ideal for navigating congested urban environments, significantly reducing delivery time and bypassing traffic bottlenecks.
Additionally, they excel in delivering to remote or hard-to-reach areas, particularly where traditional ground transportation is inefficient or impractical. This versatility, coupled with their environmentally friendly nature and reduced operational costs, makes close-range delivery drones an indispensable tool for logistics companies seeking to optimize last-mile deliveries and gain a competitive edge in the dynamic landscape of drone logistics.
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