Drone Logistics Market 2019: CAGR of 20.5% Predicted by 2023 Acoording to Future Forecast

Drone is an aerial vehicle that is being operated by using a remote by a human operator.

A drone is an unmanned aerial vehicle that is being operated by a remote-controlled panel and is used for tracking and detection of objects. This drone logistics is primarily used in various applications such as military, e-commerce, inventory management and tracking, transportation and warehousing of food and medicine and among other. The drone logistics makes use of hardware devices such as cameras, sensors, GPS systems and navigation systems for its functioning These are designed specially to reach to remote locations, which are difficult for humans to reach.

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The global Drone Logistics Market is expected to grow with CAGR 20.5% during the forecast period. The market is growing owing to the rising demand of drones in cross border surveillance, delivery of food and medicine and military services. In addition, traffic congestion in the highly populated areas can be avoided that helps in speedy delivery of goods to consumers and it costs less than the conventional delivery methods.

The global drone logistics market has been segmented on the basis of drone type, solution and end-use industry. On the basis of drone type the market is segmented as freight drones, medical drones and passenger drones. Among which, the demand for passenger drones is expected to grow significantly during the forecast period owing to the rising urban population, technological advancement and increasing traffic. Moreover, the end-use industry the market is segmented as military and commercial. The commercial segmented is expected to witness highest growth in the drone logistics market due to the rising investment in logistics industry, delivery of food and medicine and rising e-commerce.

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Based on the region the global drone logistics market has been segmented as North America, Europe, Asia Pacific, Latin America and Middle East Africa. The North America region is dominating the drone logistics market followed by Asia Pacific, Europe and other regions. The North America region is witnessing growth in the drone logistics market owing to the usage of drones for delivering packages to the consumers. In addition, the military budgets of the countries in this region is rising that will increase the adoption of unmanned military vehicles in various military applications such as surveillance, target observation and base perimeter monitoring.

The key players in the drone logistics Market are Airmap, Altitude Angel, CANA Advisors, Deutshe Post DHL Group, Drone Delivery Canada, Flirtey, Flytrex, Hardis Group, Skyward Io, Workhorse Group, Zipline, and others. Various companies such as Amazon, DHL and UPS are using drones for delivery of the parcels to their customers. Various players in the market are adopting strategies like joint ventures, partnerships, mergers and acquisitions and others to gain a competitive advantage over their counterparts. In 2019, United Parcel Service (UPS), an American multinational package delivery and supply chain management company partnered with Matternet, a market leader in drone technology to deliver medical supplies.

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