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PRESS RELEASE
Published May 26, 2023
The market for cargo drones is anticipated to be valued at US$10,580.2 million in 2023 and to grow at a CAGR of 14.6% to US$41,337.1 million by the end of 2033.
In 2023, the global drone market is estimated to have around 7.6 million unit shipments, while the drone market is projected to grow at 15.3% CAGR. Wherein sales of cargo drone accounted for nearly 31% share of the global drone market at the end of 2022.
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Owing to aforementioned factor, the demand for cargo drones is expected to be very profitable during short term. This will be accomplished by selling cargo drones through a variety of sales channels, which will open up a wide range of opportunities to directly reach out to consumers all over the world.
Key Takeaways from Market Study
- The global cargo drone market is projected to expand at an impressive CAGR of 14.6% and be valued at US$ 41,337.1 million by 2033
- The market witnessed 9.6% CAGR for the period of 2018-2022
- Under drone range, below 15 Km range of cargo drone will dominate the market and reach the valuation at US$ 3,631.1 million by 2023
- North America and Europe will dominate the market with 32.1% and 36.1% market share in 2023
- By drone type, commercial cargo drone type is likely to represent 82.4% market share in 2023
“Increased Use of Logistic Services for Quick Response Delivery will boost the Market Growth” says a Fact.MR analyst.
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Competitive Landscape
Top cargo drone producers are putting a lot of effort into continuously improving their product designs to address the issues of component placement in today’s tough environments. In the drone accessory industry, prominent players are using a competitive price strategy.
Businesses are forming beneficial alliances and working together with the public sector and end-use industries. Market competitors are increasing the range of products they offer in response to the growing demand for contemporary accessories. Market players are seeking to broaden their geographical reach while concentrating on R&D and allocating their resources accordingly.
Key Companies Profiled:
- AgEagle Aerial Systems, Inc.
- America Robotics
- DJI
- Israel Aerospace Industries
- Microdrones
- Elroy air
- Lilium GmbH
- Textron Inc
- Volocopter GMBH
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Segmentation of Long range drone Industry Research
- By Payload Capacity :
- Below 50 Kg
- 50-100 Kg
- 100-150 Kg
- 150-200 Kg
- Above 200 Kg
- By Range :
- Below 15 Km
- 15-30 Km
- 30-45 Km
- Above 45 Km
- By Drone Type :
- Commercial
- Military & Defense
- By End Use Industry :
- Healthcare & Pharmaceuticals
- Food & Beverages
- Logistics
- e-Commerce & Retail
- Consumer Electronics
- Defense
- Construction and Mining
- Others
Key Questions Covered in the Cargo Drones Market Report
- What is the projected value of the Cargo Drones factors Industry in 2023?
- At what rate will the global Cargo Drones factors market size grow until 2033?
- Which are the factors hampering the growth of Cargo Drones factors?
- Which region is expected to lead in the global Cargo Drones factors market By 2033?
- Which are the factors driving the Cargo Drones factors Industry during the forecast period?
- What is the expected market value of the Cargo Drones factors market during the forecast period?
Regional Analysis For Cargo Drones Market:
- APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (USA, Canada and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, United Arab Emirates, South Africa)
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This Press Release has been written with the intention of providing accurate market information which will enable our readers to make informed strategic investment decisions. If you notice any problem with this content, please feel free to reach us on [email protected]
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