According to Allied Market Research, the cargo drone market will reach $16.9 billion by 2032 with a CAGR of 38.1%.
The growth of the global cargo drone market is driven by factors such as the rise of e-commerce, rising demand for faster delivery and greater efficiency in cargo transportation, and increased environmental concerns to reduce emissions of CO2 and carbon footprint.
Allied Market Research titled “Cargo Drone Market by Propulsion (Gas, Electric, Hybrid, and Others), Wing Type (Fixed-Wing, Multi-Rotor, and Hybrid), Industry (Retail, Healthcare, Agriculture, Defense, and Others)” , and Payloads (0.5 to 100 kg, 101 to 1000 kg, and 1000+ kg): Global Opportunity Analysis and Industry Forecast, 2023-2032. According to the report, the global drone industry cargo will generate $680 million in 2022 and is estimated to generate $16.9 billion by 2032, with a CAGR of 38.1% from 2023 to 2032.
Cargo drones are unmanned aerial vehicles (UAVs) designed to transport cargo, materials or other payloads. Fixed-wing cargo drones are a type of drone that have specialized cargo bays or pods that can carry a variety of payloads, from light cargo to heavy objects. In addition, rotor wing cargo drones, also known as rotary drones or quadcopters, are another type of cargo drone that use rotors or propellers to generate lift and provide vertical takeoff and landing (VTOL) capability. We do.
Cargo drones can be used to transport medical supplies, such as vaccines, blood samples and drugs, to remote and inaccessible areas. In urban areas, cargo drones can offer a faster and more effective delivery method for smaller and lighter e-commerce products. Cargo drones are used to monitor, map and spray crops in order to increase crop yields and reduce expenses. Emergency goods including food, water and shelter can be delivered to disaster-stricken areas using cargo drones.
North America includes the US, Canada, and Mexico. The cargo drone market is expected to grow in North America during the forecast period due to increasing demand for fast and efficient delivery. North America has seen an increase in the use of cargo drones in distribution center logistics to achieve faster delivery times, lower costs and increased efficiency. For example, in February 2023, US-based cargo airline Ameriflight announced a signed letter of intent to purchase 35 VTOL air cargo drones from Sabrewing Aircraft Company. The deal is expected to help the company transport bulk cargo and develop a faster and more efficient warehouse distribution network.
Leading cargo drone manufacturers aim to increase cargo drone market share through continuous product development and innovation. Cargo drones are increasingly being used in the US to meet B2B demands. Consumer use cases such as convenience foods, convenience items, and other compact packages. In addition, there has been an increase in the adoption of cargo drones by the military to deliver supplies and equipment to troops in remote or inaccessible areas. For example, in November 2021, Silent Arrow, a maker of autonomous cargo drones and aerospace vehicles, was awarded a contract with the United States Air Force through the Air Force Research Laboratory (AFRL) for 15 drones Arrow Cargo Delivery. These cargo drones are designed to carry cargo such as food, water and medical supplies to remote locations that are difficult to reach by conventional transportation methods.
Canada has many remote and rural communities where traditional transportation methods are difficult to access. The government is awarding contracts to drone cargo delivery companies to transport cargo, such as medical supplies and equipment, to remote communities in Canada. For example, in March 2023, Drone Delivery Canada, a Canadian company that specializes in drone logistics, was awarded a contract by the Canadian government to provide delivery services using its heavy-lift Condor drones. The Condor drone can carry a payload of up to 180 kg over a distance of up to 200 km.
Commercial drone development in Mexico has advanced significantly, giving cargo drone companies the opportunity to operate in the country. Mexico has a vast topography, with many isolated and difficult-to-reach places, especially in its rural and mountainous regions. Compared to traditional transportation methods, cargo drones can get goods and supplies to remote locations more quickly, improving access to critical resources. Hence, these factors are expected to increase the demand for cargo drones.
main determinants of development
The growth of the global cargo drone market is driven by factors such as the rise of e-commerce, increasing demand for faster delivery, and increasing environmental concerns for greater efficiency in cargo transportation and reducing emissions. , However, high initial cost and regulatory compliance hinder the growth of the market. Conversely, technological advancements and integration of cargo drones in mid-mile logistics are expected to provide profitable opportunities for expansion of the cargo drone market during the forecast period.
Power segment to maintain its leadership position during the forecast period
On the basis of propulsion, the electric segment accounted for the highest market share in 2021, accounting for more than two-fifths of the global cargo drone market revenue, and is anticipated to maintain its leading position during the forecast period. As concerns about climate change and environmental sustainability increase, the demand for cargo drones is on the rise. However, the hybrid segment is projected to exhibit the highest CAGR of 39.4% between 2022 and 2031, owing to the increasing popularity of hybrid drones in industries such as logistics and transportation, where there is a need for drones carrying heavy payloads. Long distance
The multirotor segment to maintain its leadership position during the forecast period
Based on wing type, the multi-rotor segment accounted for the highest market share in 2022, accounting for more than two-fifths of the global cargo drone market revenue, and is anticipated to maintain its leadership position throughout the forecast period. This is due to increased integration of drone technology in last-mile delivery. However, the hybrid segment is projected to reveal the highest CAGR of 39.3% between 2022 and 2032, owing to the advantages of hybrid drones, such as their design that allows the drones to carry larger payloads than conventional drones and travel longer distances allows to do.
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| Cargo drones to reach $16.9 billion by 2032 |
Retail segment to maintain its leadership position during the forecast period
According to the industry, the retail segment was expected to hold the largest share in 2022, accounting for more than two-fifths of the global cargo drone market revenue, and is anticipated to maintain its leading position during the forecast period. The growth is attributed to the increase in the expansion of drone delivery services along with technological advances in drone design. However, the healthcare segment is projected to post the highest CAGR of 39.8% between 2022 and 2032, owing to the increasing use of drones to transport medical supplies such as drugs, vaccines, and other essential equipment.
The 0.5 to 100 kg segment to maintain its leading position during the forecast period
On the basis of payload, the 0.5 to 100 kg segment accounted for the largest share in 2022, accounting for more than half of the global cargo drone market revenue, and is anticipated to maintain its leading position throughout the forecast period. With the growing demand for cargo drones to deliver medical supplies such as vaccines, blood and drugs to remote areas or disaster zones. However, the older 1000 kg segment is projected to exhibit the highest CAGR of 39.7% from 2022 to 2032, owing to the rise in demand for cargo drones for transportation of cargo, machinery, construction materials, supplies and other larger and more bulky cargo . Long distance
North America to maintain its dominance till 2032
Based on region, North America accounted for the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global cargo drone market revenue, and is expected to dominate the market during the forecast period, as it grew Is. In the use of cargo drones in distribution center logistics to achieve faster delivery times, reduced costs and increased efficiency. However, the Asia-Pacific region is expected to experience the fastest CAGR of 39.2% between 2023 and 2032, owing to the rise of the e-commerce industry and the development and deployment of cargo drones to improve military operations.
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According to Allied Market Research, the cargo drone market will reach $16.9 billion by 2032 with a CAGR of 38.1%.
