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Global Cargo Drones Market to reach USD 9.0 billion by the end of 2030.

Global Cargo Drones Market Size study & Forecast, by Propulsion (Gasoline-powered, Electric, Hybrid, Others), by Wing Type (Fixed-wing, Multi-rotor, Hybrid), by Industry (Retail, Healthcare, Agriculture, Defense, Others), by Payload (0.5 to 100 kg, 101 to 1000 kg, Above 1000 kg) and Regional Analysis, 2023-2030

Product Code: SSAD-96453770
Publish Date: 4-08-2023
Page: 200

Global Cargo Drones Market is valued at approximately USD 0.68 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 38.1% over the forecast period 2023-2030. Cargo drones are unmanned aerial vehicles (UAVs) used for cargo delivery. The delivery of medical goods such as vaccines, blood samples, and drugs can be made to remote and challenging-to-reach locations utilizing cargo drones. Using cargo drones, small and light e-commerce items can be delivered in urban areas more swiftly and effectively. Cargo drones are used for crop monitoring, mapping, and spraying to increase crop yields and cut expenses. In disaster-affected areas, cargo drones help is providing critical supplies such as food, water, and shelter. The Cargo Drones Market is expanding because of factors such as the increasing e-commerce industry, increase in demand for faster delivery and improved efficiency in freight transportation and surge in environmental concerns to reduce CO2 emissions and carbon footprint.

The market is being driven by factors such as rising e-commerce sales across the globe. According to Statista, in 2015 global retail e-commerce sales were USD 1,548 billion and the number is anticipated to reach USD 8,148 billion by 2026. As a result, the rising e-commerce sector is anticipated to create a lucrative demand for the market. Furthermore, Drone delivery of commercial items, food, pharmacy, healthcare, and other packages reduces CO2 emissions and the carbon footprint. Delivery trucks release over 415 million metric tons of carbon dioxide annually, or about 25% of all transportation-related emissions in the US, according to the US Environmental Protection Agency, accounting for 31% of the country’s GHG emissions in 2021. Inmarsat and Cranfield University conducted a study that found that vehicles that transport 10 parcels per 8-hour shift produce 3,394 grammes of CO2 per 24 hours, drones with a 36-kilometer range would only produce about 2,160 grammes. Thus, environmental concerns to reduce CO2 emissions are further fueling the market growth. In addition, technological advancements and integration of cargo drones in middle-mile logistics are creating a lucrative opportunity to the market. However, high cost of cargo drones and regulatory compliance stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Cargo Drones Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the dominance of key market players and rising e-commerce industry and the rise in demand for fast and efficient delivery. Asia Pacific is expected to growing at a significant rate during the forecast period, owing to factors such as rising e-commerce industry, geographic expansion of key players, and active participation of government for reducing carbon emission.

Major market player included in this report are:
ARC Aerosystems
EHang Holdings Ltd.
Elroy Air
SkyDrive Inc
Singular Aircraft
Textron Inc

Recent Developments in the Market:
Ø In March 2023, The Canadian Government contracted with Drone delivery, to perform delivery services using its heavy-lift Condor drone. The Condor drone could travel up to 200 kilometres while carrying payloads weighing up to 180 kg.
Ø In November 2021, The Air Force Research Laboratory (AFRL) and the United States Air Force agreed to purchase 15 Silent Arrow cargo delivery drones. Silent Arrow is a maker of autonomous freight drones and aerospace vehicles. These cargo drones are made to deliver cargo, such as food, water, and medical supplies, to far-off places that are challenging to reach by conventional transportation means.

Global Cargo Drones Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Propulsion, Wing Type, Industry, Payload, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Propulsion offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Propulsion:

By Wing Type:

By Industry:

By Payload:
0.5 to 100 kg
101 to 1000 kg
Above 1000 kg

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Cargo Drones Market, by Region, 2020-2030 (USD Billion)
1.2.2. Cargo Drones Market, by Propulsion, 2020-2030 (USD Billion)
1.2.3. Cargo Drones Market, by Wing Type, 2020-2030 (USD Billion)
1.2.4. Cargo Drones Market, by Industry, 2020-2030 (USD Billion)
1.2.5. Cargo Drones Market, by Payload, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Cargo Drones Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Cargo Drones Market Dynamics
3.1. Cargo Drones Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing e-commerce industry The increase in demand for faster delivery and improved efficiency in freight transportation Surge in environmental concerns to reduce CO2 emissions and carbon footprint
3.1.2. Market Challenges High Cost of Cargo Drones Regulatory compliance
3.1.3. Market Opportunities Technological advancements The integration of cargo drones in middle-mile logistics
Chapter 4. Global Cargo Drones Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Cargo Drones Market, by Propulsion
5.1. Market Snapshot
5.2. Global Cargo Drones Market by Propulsion, Performance – Potential Analysis
5.3. Global Cargo Drones Market Estimates & Forecasts by Propulsion 2020-2030 (USD Billion)
5.4. Cargo Drones Market, Sub Segment Analysis
5.4.1. Gasoline-powered
5.4.2. Electric
5.4.3. Hybrid
5.4.4. Others
Chapter 6. Global Cargo Drones Market, by Wing Type
6.1. Market Snapshot
6.2. Global Cargo Drones Market by Wing Type, Performance – Potential Analysis
6.3. Global Cargo Drones Market Estimates & Forecasts by Wing Type 2020-2030 (USD Billion)
6.4. Cargo Drones Market, Sub Segment Analysis
6.4.1. Fixed-wing
6.4.2. Multi-rotor
6.4.3. Hybrid
Chapter 7. Global Cargo Drones Market, by Industry
7.1. Market Snapshot
7.2. Global Cargo Drones Market by Industry, Performance – Potential Analysis
7.3. Global Cargo Drones Market Estimates & Forecasts by Industry 2020-2030 (USD Billion)
7.4. Cargo Drones Market, Sub Segment Analysis
7.4.1. Retail
7.4.2. Healthcare
7.4.3. Agriculture
7.4.4. Defense
7.4.5. Others
Chapter 8. Global Cargo Drones Market, by Payload
8.1. Market Snapshot
8.2. Global Cargo Drones Market by Payload, Performance – Potential Analysis
8.3. Global Cargo Drones Market Estimates & Forecasts by Payload 2020-2030 (USD Billion)
8.4. Cargo Drones Market, Sub Segment Analysis
8.4.1. 0.5 to 100 kg
8.4.2. 101 to 1000 kg
8.4.3. Above 1000 kg
Chapter 9. Global Cargo Drones Market, Regional Analysis
9.1. Top Leading Countries
9.2. Top Emerging Countries
9.3. Cargo Drones Market, Regional Market Snapshot
9.4. North America Cargo Drones Market
9.4.1. U.S. Cargo Drones Market Propulsion breakdown estimates & forecasts, 2020-2030 Wing Type breakdown estimates & forecasts, 2020-2030 Industry breakdown estimates & forecasts, 2020-2030 Payload breakdown estimates & forecasts, 2020-2030
9.4.2. Canada Cargo Drones Market
9.5. Europe Cargo Drones Market Snapshot
9.5.1. U.K. Cargo Drones Market
9.5.2. Germany Cargo Drones Market
9.5.3. France Cargo Drones Market
9.5.4. Spain Cargo Drones Market
9.5.5. Italy Cargo Drones Market
9.5.6. Rest of Europe Cargo Drones Market
9.6. Asia-Pacific Cargo Drones Market Snapshot
9.6.1. China Cargo Drones Market
9.6.2. India Cargo Drones Market
9.6.3. Japan Cargo Drones Market
9.6.4. Australia Cargo Drones Market
9.6.5. South Korea Cargo Drones Market
9.6.6. Rest of Asia Pacific Cargo Drones Market
9.7. Latin America Cargo Drones Market Snapshot
9.7.1. Brazil Cargo Drones Market
9.7.2. Mexico Cargo Drones Market
9.8. Middle East & Africa Cargo Drones Market
9.8.1. Saudi Arabia Cargo Drones Market
9.8.2. South Africa Cargo Drones Market
9.8.3. Rest of Middle East & Africa Cargo Drones Market

Chapter 10. Competitive Intelligence
10.1. Key Company SWOT Analysis
10.1.1. Company 1
10.1.2. Company 2
10.1.3. Company 3
10.2. Top Market Strategies
10.3. Company Profiles
10.3.1. ARC Aerosystems Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.3.3. EHang Holdings Ltd.
10.3.4. Elroy Air
10.3.5. PIPISTREL d.o.o
10.3.6. SkyDrive Inc
10.3.7. UAVOS Inc
10.3.9. Singular Aircraft
10.3.10. Textron Inc
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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