Global Cargo Drones Market Reached Valuation of US$ 0.6 Bn in 2022, Anticipated to Gain CAGR of 39% During 2023 – 2031

Houston, TX, Texas, United States - August 2, 2023 —

Cargo drone, also known as a freight drone or delivery drone, is an unmanned aerial vehicle (UAV) specifically designed to transport goods, packages, or other cargo from one location to another. These drones are becoming increasingly popular and are being explored as a potential solution for last-mile delivery, which refers to the final leg of a package's journey from a distribution center to its destination. Companies like Apple, Google, and Amazon, as well as other delivery service enterprises, have recognized the potential of this technology and are heavily investing in cargo drone research and development in order to speed up their delivery services and create a fleet of heavy lift drones that operate as autonomous airfreight. These businesses have invested in R&D to produce speedier end-to-end delivery methods and boost customer satisfaction. Companies that invest in cargo drone technology are attempting to alleviate difficulties caused by the traditional postal delivery system, such as crowded streets, delayed deliveries, and pollution. As a result, the aforementioned factors are propelling the global cargo drones market.

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Impact of Covid-19 on Global Cargo Drones Market

As governments had enforced a lockdown and instructed citizens to go outside only in an emergency, internet services were the sole option for ordering necessities such as food and medications. However, a lack of supplies has left internet services high and dry. Cargo drones were beneficial in delivering medications and food items to people's houses while following to "zero-touch" criteria to support "social-distancing" norms. Drones of various shapes and sizes were employed to deliver things dependent on package volume. Cargo drones, for example, sped up the delivery of 250 kilograms of N95 masks, sanitizers, and first-aid kits to impacted areas. Thus Covid-19 has paved a path for the growth of the global cargo drones market in the upcoming years.

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Key Takeaways: Global Cargo Drones Market

The regulatory environment in Japan, as well as the government's dedication to UAV cargo drones and growing 5G infrastructure, are key reasons why Asia's largest logistics real estate company has picked the country to create what it says would be "the world's first cargo drone logistics facility." The project's tenants will be shown how autonomous eVTOL systems might revolutionize commercial freight transport by rapidly delivering high-value, time-sensitive items from future distribution centers to their final destination. ESR believes it will be one of the first firms to make numerous drone deliveries in a single trip, owing to increase in battery capacity. This capability will build on Japan's 2018 move to promote drone delivery by eliminating the country's BVLOS permission restrictions and beginning to enable BVLOS flights below 150 meters for drones with proven safety records. The new drone port will be built as part of ESR Cayman's new 365, 00-square-meter, nine-story distribution center, which is scheduled to open in 2023. A starting fleet of at least 24 drones is expected to transport up to 14,000 tons of goods per day to distribution points around the region. Thus with such initiatives and advancements the cargo drones market will experience huge growth in the upcoming years.

Several pilot projects and trials were being conducted by various companies and organizations to test the feasibility and effectiveness of cargo drones for delivery purposes. These trials were often done in controlled environments, testing the drones' capabilities in urban and rural settings. In addition to last-mile delivery, Europe was also exploring the concept of Urban Air Mobility, which involves using drones and other aerial vehicles for passenger transport within cities. This broader concept was seen as a potential future application for cargo drones. Furthermore market participants are looking forward to launch new products in the European market. For instance in November 2022, Dronamics, a cargo drone airline with a European operating licence, announced that the European Commission has given them a €2.5 million grant under the coveted European Innovation Council (EIC) Accelerator programme. 

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Key Developments in the Global Cargo Drones Market

·       In April 2023, Scandron, a logistics drone manufacturer, has formed a strategic partnership with CriticaLog India, a tech-driven logistics firm, to enter the country's B2B (business-to-business) and hub-to-hub technology markets. The startup will start with two drones: the Cargomax 500, which has a cargo capacity of 5 kg, a flying range of over 30 km, and an endurance of roughly an hour. The Cargomax 2000, the second drone, has a cargo capacity of 20 kg, a flight range of 20 km and the he two drones are fully autonomous and are equipped with cargo boxes.

·       In August 2022, A2Z Drone Delivery, located in Los Angeles, has announced the release of a new integrated cargo drone with a second-generation delivery winch technology.

·       In Dec 2021, Volocopter, a developer of urban air mobility (UAM), announced a collaboration with the sustainable development of NEOM in Saudi Arabia to build, install, and operate the world's first tailored public eVTOL transportation system. NEOM has announced an initial order for 15 Volocopter aircraft, which will include ten VoloCity passenger eVTOLs for public transport and five VoloDrone cargo drones for logistics.

Key Companies in the Global Cargo Drones Market:

• AIRBUS
• DeltaQuad
• DJI
• Dronamics
• Elroy Air.
• F-drones.
• FlyingBasket SRL
• Phoenix-Wings GmbH
• SkyDrive Inc.
• Volocopter GmbH
• WeRobotics
• Wingcopter
• Other market participants

Key Segments Profiled in the Global Cargo Drones Market

By Offerings

• Solutions
• Infrastructure and Hardware

By Payload

• Below 10kg
• 10 to 50kg
• 51kg to 100 kg
• Above 100kg

By Range

• Short Range
• Mid-Range
• Long Range

By Propulsion

• Electric
• Hybrid
• Fuel powered

By Applications

• Logistics
• Energy
• Forestry
• Construction
• Medical
• Mining
• Defence
• E-commerce and Retail
• Telecom and IT
• Others

By Region

• North America (U.S., Canada, Mexico, Rest of North America)
• Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
• Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
• Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
• Latin America (Brazil, Argentina, Rest of Latin America) 

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