Last Mile Drone Delivery Market Revenue to Cross US$ 2,978.3 Million at 25.4% CAGR by 2033 | Fact.MR

The increasing popularity of online food delivery services and demand for quick package delivery services is a major factor attributing to the escalating of the last mile drone delivery services in the United States.

/EIN News/ -- Rockville, June 15, 2023 (GLOBE NEWSWIRE) -- The global last-mile drone delivery market is expected to secure a valuation of US$ 309.74 million in 2023. During the forecast period of 2023-2033, the market for last-mile drone delivery is expected to exhibit a CAGR of 25.4% and reach US$ 2,978.3 million by the end of 2033.

The last-mile drone delivery market is driven by increased consumer demand for quick deliveries and cost & time efficiency offered by drones to the end-user industries. The last-mile deliveries are the most expensive process of the entire supply chain. The traditional approach includes the excessive cost of fuel and repair & maintenance of the vehicles. Also, last-mile deliveries are delayed and disturbed by traffic congestion, adverse road condition, and other environmental factors. To overcome these issues, last-mile drone delivery services are utilized which efficiently provide package deliveries with time & cost efficiency.

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Moreover, last-mile delivery services are projected to rise in the forthcoming period with the development of e-commerce industries. Where customers are benefited from quick or instant deliveries with the help of drones.

Key Takeaways from Market Study

• During 2023-2033, the market will expand with CAGR of 25.4%
• Among regions, East Asia exhibits fastest growth with CAGR of 26.4%
• Drone with up to 5 lbs capacity holds about 57.0% of share in capacity type segment.
• The global last mile drone delivery services market growth was about 14.7% during 2018-2022.

“Developing e-commerce industry worldwide to create lucrative opportunity for the market growth,” says a Fact.MR analyst.

Competitive Landscape

The business environment for last mile drone delivery services is highly competitive. With continuous moves like acquisition and service launch by market players, the last mile drone delivery services market is expected to be highly fragmented and projected to rise at a significant pace in the forthcoming period. For instance,

• In September 2022, Valqari acquired the IDU group to establish drone infrastructure for last-mile deliveries. The acquisition is aimed to enhance customer experience and companies' footprint worldwide.
• In June 2022, Amazon introduced Amazon Prime Air drone delivery services in California, United States. Packages upto 5 pounds or less are preferred to deliver with these drones.

Key Companies Profiled

• Aergility
• Aerialoop
• Aerit
• Antwork
• Aviant
• Dove Air
• Droneup
• F-Drones
• Flying Basket
• Flytrex
• Jedsy
• Manna
• Matternet
• Mission Go
• Rakuten Drone
• SkyDrop
• Speed Bird
• Spright
• Volansi
• Zipline

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Market Development

The last-mile drone delivery market is highly fragmented with the presence of various small & large market players in the market. This impacts high competitive intensity in the industry. The market players are taking rigorous moves to enhance their global footprint and expansion of consumer base. Acquisition and service launch are key initiatives has been taken by market players resulting positively in the market expansion during the forecast period.

Segmentation of the Last Mile Drone Delivery Market

• By Capacity:
  • Upto 5 lbs
  • 6-10 lbs
  • Above 10 lbs
• By Customer Type:
  • Retail
  • Commercial
• By End-use Industry:
  • Healthcare
  • Retail
  • Food
  • Logistics
• By Region:
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa
    

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More Valuable Insights

Fact.MR, in its new offering, presents an unbiased analysis of the global last mile drone delivery market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.

The study reveals essential insights on the basis of capacity (upto 5 lbs, 6-10 lbs and above 10 lbs), customer type (retail and commercial), end-use industry (healthcare, retail, food and logistics) across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).

Key Questions Covered in the Last Mile Drone Delivery Market Report

• What will be the estimated size of the Market in 2023?
• At what rate will the global Last Mile Drone Delivery sales grow until 2033?
• Which are the factors hampering the Last Mile Drone Delivery demand?
• Which region will spearhead the growth in the global industry by 2033?
• Which are the factors driving sales in the Last Mile Drone Delivery Market during the forecast period?
  

Check out more related studies published by Fact.MR Research:

Drone Delivery Service Market Size: The global drone delivery service market size has reached a valuation of US$ 359.6 million in 2023 and is expected to climb to US$ 3,090.5 million by 2033, expanding at a healthy CAGR of 24.0% during the forecast period of 2023 to 2033. Drone delivery services account for 5% of the total drone service market with a valuation of US$ 5.8 billion in 2022.

Drone Delivery System Market Share: The drone delivery system market share is estimated to reach valuation of US$ 6.6 billion in 2023 and will top US$ 25.5 billion by 2033, growing with a CAGR of around 14.4% from 2023-2033. In 2023, the global drone market is estimated to be valued around US$ 33.9 billion, while the drone market is projected to grow at 17.6% CAGR.

Autonomous Last Mile Delivery Market Revenue: The global autonomous last mile delivery market revenue is expected to surge at an impressive CAGR of around 19% over the forecast period of 2021 to 2031, with demand for aerial delivery drones skyrocketing. Demand for autonomous last mile delivery has been increasing at a rapid pace in the past several years.

Drone Package Delivery Market Growth: The global drone package delivery market growth is expected to reach a valuation of US$ 347.2 million in 2023 and is predicted to accelerate at a CAGR of 24.0% to top a market size of US$ 2,983.9 million by 2033. The drone package delivery market accounts for over 90% of the total drone delivery service market with total revenue of US$ 280 million in 2022.

Drone Mail Delivery Market: The global drone mail delivery market is poised to reach a market value of US$ 152.1 million in 2023. The market is further expected to grow at a CAGR of 21.7% during the forecast period and will achieve a valuation of US$ 1084.2 million by the end of 2033.

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