DUBLIN, May 9, 2023 /PRNewswire/ -- The "Global Cargo Drone Market Size, Trends, and Growth Opportunity, by Solution, by Range, by Payload, by End- User, by Region and Forecast to 2030" report has been added to  ResearchAndMarkets.com's offering.

The Global Cargo Drone Market was valued at USD 1.5 billion in 2022 and is expected to expand to USD 10.5 billion by 2030, at a CAGR of 22.50% during the forecast period 2023-2030.

Companies Mentioned

An unmanned aerial vehicle (UAV) or cargo drone commonly known as a drone, can deliver small packages. They typically have 4 - 8 propellers, attach packages below their bodies to create thrust, and have rechargeable batteries. Drones can be controlled independently or remotely the individual can control numerous drones at once.Cargo drone comes in small, mid, and large sizes, with different performance capabilities such as regarding maximum payload and range. It provides safe, automated aerial transport of heavy materials to virtually any location.

Market Drivers

The increasing demand for cargo drone for logistics & transportation minimizes urban traffic and CO2 emissions, speed-up delivery services, reaches difficult places and operates continuously without the need for shift work.Compared to the traditional method, the use of cargo drone in logistics & transportation can change the economics for small & medium-sized goods. These factors propel the growth of the global cargo drone market.Furthermore, the service providers offer users the drone-as-a-service (DaaS) model which is more accessible, allowing for business growth and the creation of new revenue streams.

Market Restraints

Uncertainty in regulations and clear guidelines on the safe & practical flight of drones over people & their homes, cybersecurity issues related to drones, and short flying duration are the factors that hamper the growth of the global cargo drone market.Market SegmentationBy Solution

By Range

By Payload

By End-User

By Region

For more information about this report visit https://www.researchandmarkets.com/r/2d8rh5

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