CHICAGO, March 22, 2023 /PRNewswire/ — The Cargo Drones market is estimated to be USD 0.6 billion in 2022 and is projected to reach USD 9.4 billion by 2030, at a CAGR of 38.6% during the forecast period according to a new report by MarketsandMarkets™. Increasing B2B middle mile logistics market and increased use of cargo drones in military operations are driving the growth of the Cargo Drones market.
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Based on Solution, the software segment is expected to grow at the highest CAGR during the forecast period.
The solution segment has been segmented into platform, software and infrastructure. The growth of software segment can be attributed to the increasing need of software solutions for optimizing and planning the cargo drone route, for fleet management and inventory management.
Based on Payload, the 50-149 Kg segment is projected to grow at the highest CAGR during the forecast period.
50-149 Kg segment is projected to grow at the highest CAGR in the cargo drone market. The growth of this segment is attributed to the ongoing research in this area to reduce the money and time of the consumers. New technologies are being employed to these cargo drones for them to fly nearly 120 to 180 minutes on a single charge.
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Based on region, the Asia Pacific segment is projected to grow at the highest CAGR during the forecast period.
The Asia Pacific region is expected to lead the Cargo Drones market in 2022. The regions studied in this market are China, India,Australia, Japan, South Korea, New Zealand, Malaysia and Singapore. China and Japan are one of the major global players present in the Asia Pacific, which invests heavily in the development of cargo drone technologies. Retail and e-commerce are the most dominant applications for the market in this region, followed by healthcare. The demand for cargo drones in this region is increasing due to the increasing need to deliver cargo faster and within a short time especially to rural areas.
Major players operating in the Cargo Drones market include Volocopter Gmbh (Germany), Dufour Aerospace (Switzerland), The Boeing Company (US), Pipistrel (Slovenia) and EHang (China) among others. These companies have well-equipped manufacturing facilities and strong distribution networks across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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