VANCOUVER, BC, Sept. 28, 2021 /PRNewswire/ -- The global drone package delivery market size is expected to reach USD 18.65 Billion at a steady CAGR of 54.5% in 2028, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to growing demand for a safer system to deliver packages, increase in delivery service efficiency to drive brand image, and reduce time from warehouse to doorstep delivery.
Package delivery through traditional road-based methods may involve certain risk to drivers, including potential accidents, delays occurring due to on-road construction activities, or issues with fuel running out. Package delivery drones provide a safer delivery system by eradicating several of these factors during transit. In addition, drones provide the potential of reduced margin of error by delivering the package precisely at the given location, leading to faster deliveries, increased company turnover, and improved productivity.
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In January 2021, Verizon's Skyward and United Parcel Service (UPS) Flight Forward Inc. announced its collaboration to use drones (connected via Verizon 4G LTE) to deliver retail products in Florida. Also, the testing for integrating drones with 5G technology is underway.
Fixed wing drones provide the benefit of flying over larger distances due to the wings that enables reduced drag and use of upward thrust to stay airborne and increased battery life. These advantage makes fixed wing drones more suitable for oil pipeline surveys.
Increasing focus on curbing carbon emissions is also driving deployment of drones for package deliveries, and this is expected to continue to support growth of the drone delivery package market going ahead. Drones are an eco-friendly choice for package delivery as they are powered by lithium-polymer batteries and eradicate the use of liquid fuels that emit carbon monoxide. Also, researches are underway for development of drones powered by hydrogen fuel cells to combat the issue of carbon emissions.
Drone package delivery market revenue from Asia Pacific is expected register the fastest CAGR during the forecast period, attributed to presence of major population and consumer base, rising disposable income, and rapid growth of food delivery services and e-commerce platforms.
Key players in the market include FedEx Corporation, Workhorse Group Inc., Amazon, The Boeing Company, Zipline, Skycart Inc., Matternet Inc., Deutsche Post DHL Group, Fli Drone, and EHang.
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Emergen Research has segmented the global drone package delivery market on the basis of drone type, range, package weight, duration of flight, application, and region:
Drone Type Outlook (Revenue, USD Million; 2018–2028)
Range Outlook (Revenue, USD Million; 2018–2028)
Package Weight Outlook (Revenue, USD Million; 2018–2028)
Duration of Flight Outlook (Revenue, USD Million; 2018–2028)
Application Outlook (Revenue, USD Million; 2018–2028)
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Regional Outlook (Revenue, USD Million; 2018–2028)
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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SOURCE Emergen Research