NEW YORK, Aug. 5, 2024 /PRNewswire/ -- The
global consumer drones market size is estimated to grow
by USD 8.25 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 18.52% during the forecast period. Advancements in sensors and
the emergence of low-cost drones is driving market growth, with a
trend towards availability of affordable consumer drones. However,
stringent government regulations regarding the use of consumer
drones poses a challenge. Key market players
include AeroVironment Inc., Autel Robotics Co. Ltd., Eachine,
EHang Holdings Ltd., GoPro Inc., Guangdong Aircraft Industrial Co.
Ltd., Horizon Hobby LLC, Jianjian Technology Co. Ltd., Parrot
Drones SAS, PrecisionHawk Inc., Shenzhen Hubsan Technology Co.
Ltd., Shenzhen Zero UAV Tech. Co. Ltd., Skydio Inc., Skytech Drone
sp zoo, SZ DJI Technology Co. Ltd., Teledyne Technologies Inc.,
Walkera, and Yuneec International Co. Ltd.
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Consumer Drones
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
18.52%
|
Market growth
2024-2028
|
USD 8259.1
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
15.18
|
Regional
analysis
|
North America, APAC,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 36%
|
Key
countries
|
US, China, France, UK,
and Switzerland
|
Key companies
profiled
|
AeroVironment Inc.,
Autel Robotics Co. Ltd., Eachine, EHang Holdings Ltd., GoPro Inc.,
Guangdong Aircraft Industrial Co. Ltd., Horizon Hobby LLC, Jianjian
Technology Co. Ltd., Parrot Drones SAS, PrecisionHawk Inc.,
Shenzhen Hubsan Technology Co. Ltd., Shenzhen Zero UAV Tech. Co.
Ltd., Skydio Inc., Skytech Drone sp zoo, SZ DJI Technology Co.
Ltd., Teledyne Technologies Inc., Walkera, and Yuneec International
Co. Ltd.
|
Market Driver
The global consumer drones market is experiencing significant
growth due to increasing demand and new entrants. DJI, a major
player, is focusing on advanced, inexpensive drones with
technologies like object sensing and path detection. The declining
price of electronic components, primarily in China, enables DJI to reduce drone prices,
sparking competition. This price war, coupled with rising per
capita income, recreational trends, and business opportunities,
fuels market growth during the forecast period.
The consumer drone market is experiencing significant trends,
with technological modifications and navigation technologies
leading the way. Hobbyists and enthusiasts continue to drive demand
for recreational drones, while aerial photography and production
patterns shape consumption patterns. The adjacent market, including
law enforcement and novel electronics technology, presents revenue
growth opportunities. However, the industry faces challenges such
as safety concerns, limited battery life, and high initial costs.
Regulatory environment plays a crucial role in shaping the market
landscape. Innovative features like integrated gas systems and
technological breakthroughs in fixed wing drones and hybrid type
drones are transforming the industry. Camera drones, selfie drones,
toy drones, entry level drones, mid-range drones, and high-end
drones cater to various consumer segments. Start-up businesses and
drone racing add excitement to the market. However, privacy
concerns remain a significant challenge. The market comprises
various segments, including toy/hobbyist drones, nano drones, and
consumer drone applications. The regulatory environment, safety
concerns, and technological advancements require scenario-based
analysis and industry interviews to gain a comprehensive
understanding of the market.
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Market Challenges
- The consumer drones market faces regulatory challenges due to
the various guidelines set by aviation authorities worldwide. For
instance, in the US, the Federal Aviation Administration (FAA)
requires users to obtain permission before flying near airports and
prohibits drones from flying above 400 feet or in clouds. In
Hong Kong, the Civil Aviation
Department (CAD) mandates keeping drones at least 30 meters from
the public and certain structures if they weigh between 250g and
1kg. Similar rules apply in other countries, such as Transport
Canada, the Federal Ministry of Transport and Digital
Infrastructure in Germany, the
Civil Aviation Authority in the UK, the Civil Aviation Safety
Authority in Australia, and the
DGCA in France. These regulations
may limit consumer drone adoption due to the need for specific
certifications, qualifications, or modifications, potentially
impacting vendors' financial performance and market positions
negatively.
- The consumer drone market is experiencing significant growth,
driven by hobbyists and enthusiasts seeking innovative features for
aerial photography and recreational purposes. However, challenges
persist, including the risk of mishaps and safety concerns.
Technological modifications, such as navigation technologies and
advanced speed systems, aim to address these issues. Regulatory
environment and limited battery life are other challenges. The
market includes various segments, including camera drones, toy
drones, recreational drones, selfie drones, entry-level drones,
mid-range drones, high-end drones, law enforcement drones,
fixed-wing drones, hybrid type drones, nano drones, and drone
racing. Start-up businesses and novel electronics technology
continue to shape the industry. Scenario-based analysis, industry
interviews, and technological breakthroughs provide insights into
future trends. Privacy concerns remain a significant issue. The
market includes various players, including Technology Hardware and
Integrated gas systems, offering innovative solutions. Safety
concerns and high initial costs are major challenges for the
market.
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challenges - Request a sample report!
Segment Overview
This consumer drones market report extensively covers market
segmentation by
- Product
- 1.1 Multirotor
- 1.2 Fixed wing
- 1.3 Single rotor
- Distribution Channel
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Multirotor- The consumer drones market,
specifically multirotor drones, has experienced significant growth
due to increasing demand for aerial photography and non-military
applications. These drones, which include tricopters, quadcopters,
hexacopters, and octocopters, are popular among hobbyists and
professionals for tasks such as aerial photography, video
surveillance, and surveying. Quadcopters, with their four rotors,
are the most widely used multirotor drones, offering more control
for users. However, they have limited flying time and are not ideal
for long-distance surveying or inspection. Technological
advancements have enabled multirotor drones to carry bigger
payloads, including cameras, electro-optics, autopilot, GPS/INS,
and sense and avoid systems. With the expanding possibilities in
consumer and industrial markets, the global consumer drones market
is expected to grow steadily during the forecast period.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
The consumer drone market is experiencing significant growth,
driven by the increasing popularity of these unmanned aerial
vehicles (UAVs) for various applications. Fixed wing drones and
hybrid type drones are gaining traction in the market due to their
longer flight times and increased payload capacity. Toy/hobbyist
drones and nano drones continue to dominate the market in terms of
sales volume, catering to the needs of hobbyists and enthusiasts.
Start-up businesses are also leveraging novel electronics
technology to introduce innovative consumer drone products.
Consumer drone applications include aerial photography,
recreational purposes, and law enforcement. Photogrammetry is
another application gaining popularity, particularly in the
construction and agriculture industries. However, privacy concerns
and the risk of mishaps remain challenges for the market.
Technological modifications, such as improved battery life and
collision avoidance systems, are being introduced to address these
concerns. The market is also witnessing revenue growth through
adjacent markets, such as drone racing and production patterns and
consumption patterns continue to evolve. Scenario-based analysis
suggests that the market will continue to grow, with hybrid drones
expected to gain significant market share in the coming years.
Market Research Overview
The consumer drone market is experiencing significant growth,
driven by the increasing popularity of these devices for various
applications. Fixed wing drones and hybrid type drones are gaining
traction in law enforcement and industrial inspections, while
toy/hobbyist drones, nano drones, and drone racing continue to
dominate the recreational sector. Start-up businesses are
leveraging novel electronics technology and innovative features to
bring new consumer drone products to market. Photogrammetry and
aerial photography are key applications, with revenue growth
expected in the adjacent market. However, privacy concerns and the
risk of mishaps remain challenges. Technological modifications,
including navigation technologies and advanced speed technologies,
are addressing safety concerns. Limited battery life and high
initial costs are barriers to entry for some consumers. Camera
drones, toy drones, recreational drones, selfie drones, entry-level
drones, mid-range drones, and high-end drones cater to different
segments. Regulatory environment and technological breakthroughs
are shaping the industry landscape. Safety concerns and privacy
issues are under scrutiny, with safety features and privacy
policies becoming essential selling points.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Multirotor
- Fixed Wing
- Single Rotor
- Distribution Channel
-
- Geography
-
- North America
- APAC
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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