Global Cargo Drones Market Size study & Forecast, by Propulsion (Gasoline-powered, Electric, Hybrid, Others), by Wing Type (Fixed-wing, Multi-rotor, Hybrid), by Industry (Retail, Healthcare, Agriculture, Defense, Others), by Payload (0.5 to 100 kg, 101 to

Global Cargo Drones Market Size study & Forecast, by Propulsion (Gasoline-powered, Electric, Hybrid, Others), by Wing Type (Fixed-wing, Multi-rotor, Hybrid), by Industry (Retail, Healthcare, Agriculture, Defense, Others), by Payload (0.5 to 100 kg, 101 to 1000 kg, Above 1000 kg) and Regional Analysis, 2023-2030

Global Cargo Drones Market is valued at approximately USD 0.68 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 38.1% over the forecast period 2023-2030. Cargo drones are unmanned aerial vehicles (UAVs) used for cargo delivery. The delivery of medical goods such as vaccines, blood samples, and drugs can be made to remote and challenging-to-reach locations utilizing cargo drones. Using cargo drones, small and light e-commerce items can be delivered in urban areas more swiftly and effectively. Cargo drones are used for crop monitoring, mapping, and spraying to increase crop yields and cut expenses. In disaster-affected areas, cargo drones help is providing critical supplies such as food, water, and shelter. The Cargo Drones Market is expanding because of factors such as the increasing e-commerce industry, increase in demand for faster delivery and improved efficiency in freight transportation and surge in environmental concerns to reduce CO2 emissions and carbon footprint.

The market is being driven by factors such as rising e-commerce sales across the globe. According to Statista, in 2015 global retail e-commerce sales were USD 1,548 billion and the number is anticipated to reach USD 8,148 billion by 2026. As a result, the rising e-commerce sector is anticipated to create a lucrative demand for the market. Furthermore, Drone delivery of commercial items, food, pharmacy, healthcare, and other packages reduces CO2 emissions and the carbon footprint. Delivery trucks release over 415 million metric tons of carbon dioxide annually, or about 25% of all transportation-related emissions in the US, according to the US Environmental Protection Agency, accounting for 31% of the country's GHG emissions in 2021. Inmarsat and Cranfield University conducted a study that found that vehicles that transport 10 parcels per 8-hour shift produce 3,394 grammes of CO2 per 24 hours, drones with a 36-kilometer range would only produce about 2,160 grammes. Thus, environmental concerns to reduce CO2 emissions are further fueling the market growth. In addition, technological advancements and integration of cargo drones in middle-mile logistics are creating a lucrative opportunity to the market. However, high cost of cargo drones and regulatory compliance stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Cargo Drones Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the dominance of key market players and rising e-commerce industry and the rise in demand for fast and efficient delivery. Asia Pacific is expected to growing at a significant rate during the forecast period, owing to factors such as rising e-commerce industry, geographic expansion of key players, and active participation of government for reducing carbon emission.

Major market player included in this report are:
ARC Aerosystems
DRONAMICS
EHang Holdings Ltd.
Elroy Air
PIPISTREL d.o.o
SkyDrive Inc
UAVOS Inc
VOLOCOPTER GmbH
Singular Aircraft
Textron Inc

Recent Developments in the Market:
In March 2023, The Canadian Government contracted with Drone delivery, to perform delivery services using its heavy-lift Condor drone. The Condor drone could travel up to 200 kilometres while carrying payloads weighing up to 180 kg.

In November 2021, The Air Force Research Laboratory (AFRL) and the United States Air Force agreed to purchase 15 Silent Arrow cargo delivery drones. Silent Arrow is a maker of autonomous freight drones and aerospace vehicles. These cargo drones are made to deliver cargo, such as food, water, and medical supplies, to far-off places that are challenging to reach by conventional transportation means.

Global Cargo Drones Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Propulsion, Wing Type, Industry, Payload, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Propulsion offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Propulsion:
Gasoline-powered
Electric
Hybrid
Others

By Wing Type:
Fixed-wing
Multi-rotor
Hybrid

By Industry:
Retail
Healthcare
Agriculture
Defense
Others

By Payload:
0.5 to 100 kg
101 to 1000 kg
Above 1000 kg

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
ARC Aerosystems
DRONAMICS
EHang Holdings Ltd.
Elroy Air
PIPISTREL d.o.o
SkyDrive Inc
UAVOS Inc
VOLOCOPTER GmbH
Singular Aircraft
Textron Inc

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