Drone Logistics and Transportation Market to Grow at a CAGR of 60.6% during 2020 to 2027 to reach US$ 1,626.98 Mn
Drone Logistics & Transportation Market to 2027 - Global Analysis and Forecasts by Type (Freight Drones, Passenger Drones, and Ambulance Drones); Application (Warehousing, Shipping, and Others); and End User (Military and Commercial)
Increasing demands for faster delivery of goods is the most significant factor driving thegrowth of the Drone Logistics and Transportation Market. Concerns regarding safety during travel and package drop as well as lack of skilled & trained personnel are the few other challenges to be faced by drone logistics and transportation market. The drone logistics & transportation providers are gaining prominence in the commercial sector owing to the fact that the end users are seeking various ways to cut down operational cost in their business and bring in faster mode of delivery. In the current state of commercial drone operations, several government bodies and authorities have imposed stringent laws and regulations.
According to the new research report published by The Insight Partners, titled “Drone Logistics & Transportation Market to 2027 - Global Analysis and Forecasts by Type (Freight Drones, Passenger Drones, and Ambulance Drones); Application (Warehousing, Shipping, and Others); and End User (Military and Commercial)” is expected to grow at a CAGR of 60.6% during 2020 to 2027 to reach US$ 1,626.98 million by 2027.
This factor has limited the drone operations in various developed as well as developing regions across the globe. One of the most critical laws imposed upon commercial drone operations is that the drone pilot should maintain a visual line of sight with the unmanned aerial vehicle while in operation. The future of the market is anticipated to be prominent, with the implementation of Beyond the Visual Line of Sight (BVLOS). The benefits of BVLOS is that the concept allows the operators to fly drones in complex conditions and truly unmanned technology without the need for takeoff and landing. This technological concept is anticipated to trigger the growth of themarket in the coming years.
The demand for drone logistics & transportation in developing economies is constantly rising as the number of applications are rising in different sectors. With a continuous advancement in drone technology, the large multinational companies are seeking forward for drones to ensurequick delivery of parcels with high speed while lowering time and operational costs. Asian countries have an advantage of having most confident shoppers when it comes to receiving deliveries through drones and using autonomous technology to make payments.
The major players operating in the market for drone logistics & transportation market include Cheetah Software Systems, Inc., Drone Delivery Canada Corp., Flirtey, Flytrex Aviation, Ltd., Hardis Group, Infinium Robotics, PINC Solutions, Volocopter GmBH, Workhorse Group Inc., and Zipline among others.
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