The global cargo drones market is poised to achieve a valuation of US$ 10,580.2 million in 2023 and is projected to grow further at a remarkable CAGR of 14.6%, ultimately reaching a substantial US$ 41,337.1 million by the conclusion of 2033.
In 2023, the global drone market is estimated to witness approximately 7.6 million unit shipments, with a projected growth rate of 15.3% CAGR. Notably, sales of cargo drones represented nearly 31% of the total share in the global drone market by the end of 2022.
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Key Takeaways from Market Study
- The global cargo drone market is projected to expand at an impressive CAGR of 14.6% and be valued at US$ 41,337.1 million by 2033
- The market witnessed 9.6% CAGR for the period of 2018-2022
- Under drone range, below 15 Km range of cargo drone will dominate the market and reach the valuation at US$ 3,631.1 million by 2023
- North America and Europe will dominate the market with 32.1% and 36.1% market share in 2023
- By drone type, commercial cargo drone type is likely to represent 82.4% market share in 2023
“Increased Use of Logistic Services for Quick Response Delivery will boost the Market Growth” says a Fact.MR analyst.
Competitive Landscape
Top cargo drone producers are putting a lot of effort into continuously improving their product designs to address the issues of component placement in today’s tough environments. In the drone accessory industry, prominent players are using a competitive price strategy.
Businesses are forming beneficial alliances and working together with the public sector and end-use industries. Market competitors are increasing the range of products they offer in response to the growing demand for contemporary accessories. Market players are seeking to broaden their geographical reach while concentrating on R&D and allocating their resources accordingly.
Key Companies Profiled:
- AgEagle Aerial Systems, Inc.
- America Robotics
- DJI
- Israel Aerospace Industries
- Microdrones
- Elroy air
- Lilium GmbH
- Textron Inc
- Volocopter GMBH
Segmentation of Long range drone Industry Research
- By Payload Capacity :
- Below 50 Kg
- 50-100 Kg
- 100-150 Kg
- 150-200 Kg
- Above 200 Kg
- By Range :
- Below 15 Km
- 15-30 Km
- 30-45 Km
- Above 45 Km
- By Drone Type :
- Commercial
- Military & Defense
- By End Use Industry :
- Healthcare & Pharmaceuticals
- Food & Beverages
- Logistics
- e-Commerce & Retail
- Consumer Electronics
- Defense
- Construction and Mining
- Others
Key Questions Covered in the Cargo Drones Market Report
- What is the projected value of the Cargo Drones factors Industry in 2023?
- At what rate will the global Cargo Drones factors market size grow until 2033?
- Which are the factors hampering the growth of Cargo Drones factors?
- Which region is expected to lead in the global Cargo Drones factors market By 2033?
- Which are the factors driving the Cargo Drones factors Industry during the forecast period?
- What is the expected market value of the Cargo Drones factors market during the forecast period?
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Regional Analysis For Cargo Drones Market:
- APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (USA, Canada and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, United Arab Emirates, South Africa)
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