NEW YORK, July 26, 2022 /PRNewswire/ — The “Drone Package Delivery Market by Type (Hybrid wing, Fixed wing, and Rotary wing) and Geography (North America, Europe, APAC, South America, and the Middle East and Africa) – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The drone package delivery market share is projected to increase to USD 13.54 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 42.75%. 56% of the market’s growth will originate from North America during the forecast period. The US is the key market for the drone package delivery market in North America. Market growth in this region will be faster than the growth of the market in Europe. The high adoption of drones by the transportation and logistics companies in the US will facilitate the drone package delivery market growth in North America over the forecast period.
Technavio has announced its latest market research report titled Drone Package Delivery Market by Type and Geography – Forecast and Analysis 2022-2026
Drone Package Delivery Market – Key Market Dynamics:
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Market Driver – The increased use of drones by e-commerce companies is one of the key drivers fueling the drone package delivery market growth. Various factors such as rising costs of fuel, fleet service and maintenance, and labor are negatively affecting the revenue of e-commerce companies. Thus, many logistics players in partnership with e-commerce companies are investing in automated logistics solutions, such as drone delivery, to sustain in the highly competitive market, which is expected to replace manual interactions. For instance, in March 2022, EHang collaborated with Aerotree Flight Services Sdn. Bhd. to develop urban air mobility (UAM) business in Malaysia, including MRO and training. As a part of the agreement, AEROTREE has placed a pre-order for 50 EHang EH216 series and 10 VT-30 drones. Hence, an increase in the use of drones by the e-commerce industry will support the growth of the global drone package delivery market during the forecast period.
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Market Challenges – Restrictive laws and regulations governing UAV use are the key challenges impeding the drone package delivery market growth. Drones have a wider operational range than crewed aircraft, along with other differentiating physical and operational characteristics. Although governments and commercial bodies use unmanned aircraft systems (UASs) and UAVs for a variety of applications, their scope of use is dependent on various laws and regulations enacted by numerous governments across different countries. Such regulations restrict the scope of drone operations and hinder their mass adoption. Such regulatory hurdles will adversely affect the drone package delivery market growth during the forecast period.
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Drone Package Delivery Market – Segmentation Analysis:
The drone package delivery market report is segmented by Type (Hybrid wing, Fixed wing, and Rotary wing) and Geography (<span class="…….
Source: https://finance.yahoo.com/news/drone-package-delivery-market-56-155000666.html