While drone delivery may seem like something in a sci-fi novel, it may soon become a commonplace reality as the market continues to grow. Verified Market Research's latest study projects the sector to reach a market value of $15,046.45 Million by 2028. The report cites numerous patents from major retailers looking to adopt drone delivery strategies. Right now, the industry is still in the developmental stage.
Per PR Newswire:
- Quickly the latest technological developments in self-determining unmanned aerial vehicles (drones) and developed regulations may soon open the way for their high-scale implementation in the drone package delivery of products. The use of drones could drastically diminish labor costs and has been absorbed as a potential disruptor to the parcel delivery industry. E-commerce retailers and delivery companies such as Flipkart, Amazon, and others are already filing up patents for the development of multi-level fulfillment centers for unmanned aerial vehicles or "drone-beehives" that would allow the deployment of this technology within the built environment.
- Presently, drone delivery services are in their developing stage. The costs related to operations are climbing because of its latest technology, and it has limitations on the amount of weight and areas of use. Ongoing, the weight that a typical drone can carry ranges between 1 and 12 kg, while the delivery distance range is somewhere between 1 and 25 km. The absence of infrastructure due to their high investment cost is restraining the growth of the drone delivery services market.