According to market research company Markets and Markets the ALMDM was worth USD12 billion in 2019 and at a CAGR of 20.3% is projected to reach USD91.5 billion by 2030.
The need to increase efficiency and reduce delivery time has led to the increasing employment of drones and ground delivery vehicles to carry out the autonomous last mile delivery of packages as well as fueling the market’s growth.
The >5 kilograms load carrying capacity area for e-commerce and retail industry is estimated to account for the largest share of this market. These drones can be used to deliver heavy parcels ordered by online shoppers.
The long distance range (>20 kilometers) is projected to grow at a higher CAGR than the smaller one during the forecast period. This growth can be attributed to faster and more cost-effective delivery of packages as drones can travel longer distances in a shorter period of time and are capable of delivering goods in geographically challenging locations. The aerial delivery drones segment of the market is projected to grow at a higher CAGR than the ground delivery vehicles.
The aerial delivery drones and the ground delivery vehicles market in the North American region are projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the continuous efforts being made in the US and Canada for the development of next-generation drone and ground delivery vehicle technologies.
The major players in the ALMDM are Starship Technologies (US), Savioke (US), Nuro (US), JD.com (China), and Flirtey (US). Starship Technologies is one of the leading players. The company has received high-value contracts from countries such as the US and is focusing on strategic partnerships with other players to increase its market share.
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