"Surge in Demand for Aerial Imaging, Driving the Consumer Drones Market Growth"

Consumer Drones market was valued at US$ 2,062.0 Mn in 2017 and expected to grow at a CAGR of 20.9% from 2018 to 2026 and reach US$ 11,290.6 Mn in 2026. In recent years, there has been a significant growth in the number of consumer drones across the world. Though widely used for military purposes, drones are becoming increasingly popular among gaming and aerial photography enthusiasts and hobbyists. Drones have not just attracted the interest of airplane hobbyists and flight hobbyists, but with technological advancements, its adoption has witnessed a rapid growth among photographers and videographers. The growth in the popularity of consumer drones can also be attributed to the large number of drone companies that were launched in recent years. Moreover, technological advancements have facilitated high-end hardware and software to be developed and prototyped at a lower cost. Therefore, lower prices have enabled its adoption on a large scale. In addition, technological advancements are also directed towards increasing the speed, durability, maneuverability and quality of images and videos. These factors are expected to positively influence the consumer drones market growth.

"Increased Weight-Carrying Capacity and Better Control Driving Demand for Rotary Blade Consumer Drones"

In 2017, the rotary blade drones segment led the overall consumer drones market worldwide, contributing to nearly 85% of the overall market value in 2017. The segment expected to continue its dominance throughout the forecast period owing to factors such as high durability and robustness coupled with its wide application for photography and drone racing. Rotary blade drones are extensively used and preferred for aerial photography as they facilitate better control. Moreover, another prominent factor aiding the rotary blade drone segment’s growth is the fact that these kind of drones are capable of carrying more weight and are easier to control as compared to the fixed wing variants. Therefore, these factors in combination expected to drive the rotary blade drones segment growth during the forecast period.

On the other hand, the Hybrid consumer drones segment growth expected to be substantial during the forecast period. These kind of drones comprises features of both fixed wing and rotary blade. One of the factors complimenting this high growth can be attributed to its high adoption for photogrammetry purposes. With growing consumer drone demand coupled with ease in its operability it is finding increased application for mapping work. Moreover, these drones are capable of taking off vertically and start flight from any spot similar to that of a helicopter, a factor further aiding the segment growth. Other benefits of hybrid consumer drones include higher payloads, long endurance flight and durability.

"Favorable Government Initiatives Supporting the Consumer Drones Market Growth in North America"

The global consumer drones market was dominated by North America accounting for around 40% of the overall market value in 2017. Factors such as increasing adoption of drones for aerial imaging and covering of events through filming and video has complimented the consumer drones market growth. Moreover, favorable government initiatives have further supported the market growth in the region. For instance, the Federal Aviation Administration’s (FAA) relaxation on the use of drones for recreational and non-recreational purposes in the U.S. has been a welcome move for the market growth. Furthermore, the fact that a large number of consumer drone manufacturers such as Horizon Hobby, 3D Robotics and UDI RC among others headquartered in the region has supported market growth.

"R&D activities to Remain in the Centre Stage in Coming Years"

One of the most common strategies adopted by players in the consumer drones market is research and development, which is directed towards improving the existing products and developing new drones with better functionalities. For instance, recently, DJI launched a new drone called the Spark, which is a palm sized and very light weight drone. One of the features of the new drone is that users can launch it right from their palm due to its small size. Similarly, in 2018, Skydio launched the R1 drone that features a self-positioning action camera. The drone was designed with the purpose to record the person it is following.

Key players profiled in the report include 3D Robotics, Inc., SZ DJI Technology Co., Ltd., Autel Robotics, EHang, Inc., Parrot Drones SAS, Yuneec International Co. Ltd., Hobbico, Inc., Guangdong Cheerson Hobby Technology Co.,Ltd, Horizon Hobby, LLC and Mota Group, Inc. among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Consumer Drones market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Consumer Drones market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Consumer Drones market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Consumer Drones market?
• Which is the largest regional market for Consumer Drones market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Consumer Drones market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Consumer Drones market worldwide?