USD 26.32 Bn growth in Drone Transportation and Logistics Market | North America to Dominate Market Growth | Technavio

NEW YORK, Dec. 21, 2021 /PRNewswire/ -- The global drone transportation and logistics market is expected to witness substantial growth between 2020 and 2025 owing to factors such as increased cross-border trades, growth in e-commerce activities, rise in demand for air freight and logistics services, and increasing government initiatives to promote cross-border e-commerce activities. In addition, rising free-trade agreements between many countries and global increase in imports and exports are expected to create significant growth opportunities. Moreover, the increasing demand for logistics services across end-user industries such as chemicals, food and beverages, retail, FMCG, and pharmaceuticals will generate significant revenue in the market.

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One of the primary growth drivers for this market is the rise in the application of drones. In addition, the increased use of drones by e-commerce companies and the use of advanced technologies to improve the efficiency of drone transportation and logistics will have an accelerating effect on the growth of the global drone transportation and logistics market during the forecast period. However, operational challenges regarding the use of drones and restrictive laws and regulations governing UAV use will hinder the growth of the market.

Technavio expects the drone transportation and logistics market size to grow by USD 26.32 billion between 2020 and 2025. However, the growth momentum is expected to decelerate at a CAGR of 24.78% during the forecast period.

Drone Transportation and Logistics Market: Segment Highlights

• By Application, the market is analyzed across transportation and warehousing segments.
• The transportation segment generated maximum revenue in the market in 2020.
• The market growth in the transportation segment will be significant during the forecast period.

Regional Analysis

• 61% of the growth will originate from the North American region.
• The region is expected to offer significant growth opportunities for drone transportation and logistics service providers during the forecast period.
• The US is the key market for drone transportation and logistics market in North America. Market growth in this region will be slower than the growth of the market in other regions.

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Notes:

• The drone transportation and logistics market growth momentum is expected to decelerate at a CAGR of  24.78% during the forecast period.
• The drone transportation and logistics market is segmented by Application (Transportation and Warehousing) and Geographic (North America, Europe, APAC, South America, and MEA).
• The market is fragmented due to the presence of many established vendors holding significant market share.
• The research report offers information on several market vendors, including Deutsche Post DHL Group, Drone Delivery Canada Corp., Flytrex Inc., HARDIS Groupe, Kaleris, Matternet, Skydrop, United Parcel Service Inc., Workhorse Group Inc., and Zipline

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SOURCE Technavio