Cargo Drones Market to Reach $ 16.9 Billion, Globally, by 2032 at 38.1% CAGR

Allied Market Research

The growth of the global cargo drones market is driven by factors such as the rise of e-commerce, the increase in demand for faster delivery & improved efficiency in freight transportation, and a surge in environmental concerns to reduce CO2 emissions and carbon footprint.

PORTLAND, Ore., May 29, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Cargo Drones Market by Propulsion (Gasoline-powered, Electric, Hybrid, and Others), Wing Type (Fixed-Wing, Multi-Rotor, and Hybrid), Industry (Retail, Healthcare, Agriculture, Defense, and Others, and Payload (0.5 to100 kg, 101 to 1000 kg, and above 1000 kg): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global cargo drones industry generated $0.68 billion in 2022 and is anticipated to generate $16.9 billion by 2032, witnessing a CAGR of 38.1% from 2023 to 2032.

Download Sample Pages of Report - https://www.alliedmarketresearch.com/request-sample/84889

Prime determinants of growth

The growth of the global cargo drones market is driven by factors such as rise of e-commerce, an increase in demand for faster delivery & improved efficiency in freight transportation, and surge in environmental concerns to reduce CO2 emissions and carbon footprint. However, high initial cost and regulatory compliance hamper the growth of the market. On the contrary, technological advancements, and the integration of cargo drones in middle-mile logistics are expected to offer remunerative opportunities for the expansion of the cargo drones market during the forecast period.

Report coverage & details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$0.68 Billion
Market Size in 2032	$16.9 Billion
CAGR	38.1 %