The robust growth of the AI and IT industry coupled with persistent technological advancements in the e-commerce sector has seen the demand for instant, same-day delivery and emergency supplies go up significantly.
That being said, it has been projected that the Drone Logistics and Transportation Market will grow at a compound annual growth rate (CAGR) of 55.1 percent till 2030. A recent report by MarketsandMarkets suggests that the market, which stands at $534 million at present, is expected to touch the $17.9 billion mark by 2030.
Artificial Intelligence has emerged as a game changer as the Unmanned Aerial Vehicle (UAVs) take the plunge into the logistics and transportation sector with technologies such as Artificial Intelligence (AI), Detect and Avoid (DAA) system, and cloud computing – allowing the users to monitor and access the UAVs at their convenience.
Besides, driving the growth of UAVs, AI is expected to enhance the user experience as it will further reinforce the abilities of drones to become airborne, capture and transmit data and analyse the same without human intervention.
The drone logistics and transportation market has been classified into three segments – freight drone, passenger drone, and air ambulance drone. While the latter is a prototype and the passenger drone segment is a thing for the future, the freight drone segment is projected to dominate the market during the forecast period – registering the highest market share in the base year.
Further classified on the basis of utility, the freight drones are subdivided into delivery drones and cargo drones. The former, interestingly, are projected to lead the market with a CAGR of 54.6 percent by 2030.
With a humble capacity to carry loads, the freight drones are more popular among food and parcel delivery platforms besides retail goods businesses.
