I am sure many of us have seen the advertisement of a popular drink pack getting delivered by an unmanned aerial vehicle (UAV) or commonly known as a drone. It may seem a new concept of delivery to us, but drones in various forms have already been in use for a long time. These smart machines have helped in capturing aerial data and mapping of unknown territories, accessing challenging forest and mining areas, search and rescue operations, monitoring farmlands and obtaining real-time date for the unpredictable weather conditions.
Drones, an unmatched modern innovation offer a bird’s eye view allowing users to get remarkable images of the surrounding areas. Alike a helicopter, this well-defined equipment can hover in the air while still being much closer to the ground. Speaking about the drone technology, they have been further tested for their use in the logistic industry, as well. Instead of wasting time and manpower for accessing remote locations, logistics have started using drones as they are found to be efficient and economical.
Drones in Logistics
It refers to the usage of drones and unmanned aerial vehicles in commercial transportation applications such as parcels or small packages and takes far less time. The drone in logistics also provides an efficient delivery process from the stockroom to the delivery location. Several government initiatives implemented in support of the logistics market in the application of advanced and speedway transport are the major factors expected to accelerate market growth. Moreover, transport drones are expected to have a prominent role in ocean freight mode by making the inspection and review procedures effortless. This is another factor that will enhance the growth of the drone in logistics market. But somehow, the battery life and bandwidth issues may restrict the market growth. The Drone in Logistics Market is projected to grow at the rate of 22% CAGR by 2026.
The Drone in Logistics market has been analysed by utilizing the optimum combination of secondary sources and in-house methodology, along with an irreplaceable blend of primary insights. The real-time assessment of the market is an integral part of our market sizing and forecasting methodology. Our industry experts and panel of primary participants have helped in compiling relevant aspects with realistic parametric estimations for a comprehensive study.
The solution segment of the drone in logistics market is sub-segmented as wear housing, shipping, infrastructure, and software. Among all the solutions, the shipping solution is expected to have rapid growth in the market during the forecast period. Since huge investments are made in the adoption of drones in the shipping process, it provides less cost for the delivery of goods. Additionally, the drones are also used for inspection and survey where the drone can access the unapproachable areas and also reduces the risks.
Significantly, the drones are assumed to be used for commercial purposes in the logistics area. Due to the growing fast economic process and expansion of major urban cities, there is a need for the latest way of transportation and logistics with advanced far-reaching drones quickly to fulfil the demands. Also, huge investments are made by venture capitals in drone delivery to improve the delivery segment. Therefore, this sector is holding a large share in the drone in logistics market.
Types and Demands for Drones
The types of drones consist of freight drones, passenger drones, and ambulance drones. Freight drones have a significant and major role in the market share due to the benefits offered by freight drones while delivering goods and products, including reduced delays, quick and customized delivery. Also, they offer low-cost freight services and improve market penetration in remote areas.
As it is observed, the North American region is dominating the drone in logistics market due to the usage of drones in transportation and growing demand for drones in military and commercial purposes. Furthermore, an increasing number of drone delivery companies for delivering online ordered goods will boost the high demand for drones in this region.
E-commerce companies are primarily opting for drones to transform delivery services into commercial purposes. The number of governmental regulations has narrowed down the utilization of drones for commercial delivery purposes earlier, but the recent changes in these regulations support e-commerce industries and various delivery companies to opt for the service. Therefore, it is creating a global market growth in the drone in logistics market. Few of the primary players of the drone in logistics market are Drone Delivery Canada Corp., PINC Solutions Corp, DroneScan, HARDIS Groupe, Matternet Inc., Workhorse Group Inc., Skysense, Inc., Zipline Inc. Multirotor, Skysensel, Volocopter GmbH, Infinium Robotics Pte Ltd., Cheetah Logistics Technology, Unifly, and Skycart.
Therefore, the increasing demand for fast and low-cost processes to deliver goods through drones is enhancing growth. The advanced new way of transportation is also contributing to this industry. The incorporation of technology in our daily work makes it an important part of our lives. To simplify it, artificial intelligence and the internet of things is merging with human lives. With the advancing revolution taking place in all the spheres of life, the new era is bringing humans and machines to start working together.