The surge in demand for aerial imaging is driving the consumer drone market's growth.
The consumer drone market was worth $2,062.0 million in 2017 and is expected to grow at a CAGR of 20.9% from 2018 to 2026, reaching $11,290.6 million in 2026. In recent years, there has been 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 and flight hobbyists, but with technological advancements, their adoption has witnessed 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 have been launched in recent years. Moreover, technological advancements have facilitated the development and prototyping of high-end hardware and software at a lower cost. Therefore, lower prices have enabled its adoption on a large scale. In addition, technological advancements are also directed toward increasing the speed, durability, maneuverability, and quality of images and videos. These factors are expected to positively influence the consumer drone market's growth.
Market Synopsis
Increased weight-carrying capacity and better control are 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 2017. The segment is 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 kinds of drones are capable of carrying more weight and are easier to control as compared to the fixed-wing variants. As a result, these factors are expected to drive the growth of the rotary blade drone segment during the forecast period.
On the other hand, growth in the Hybrid Consumer Drones segment is expected to be substantial during the forecast period. These types of drones have both fixed wings and rotary blades. One of the factors contributing to this high growth can be attributed to its high adoption for photogrammetry purposes. With increasing consumer drone demand and ease of operation, it is finding increased applications for mapping work. Moreover, these drones are capable of taking off vertically and starting a flight from any spot similar to that of a helicopter, a factor further aiding the segment's growth. Other benefits of hybrid consumer drones include higher payloads, long endurance flights, and durability.
Favorable Government Initiatives Supporting the Growth of the Consumer Drones Market in North America
In 2017, North America dominated the global consumer drone market, accounting for roughly 40% of the total market value. Factors such as the increasing adoption of drones for aerial imaging and the covering of events through filming and video have contributed to the consumer drone market's growth. Moreover, favorable government initiatives have further supported market growth in the region. For example, the FAA's (Federal Aviation Administration) relaxation of restrictions on the use of drones for recreational and non-recreational purposes in the United States has been a welcome development for the market's growth. Furthermore, the fact that a large number of consumer drone manufacturers, such as Horizon Hobby, 3D Robotics, and UDI RC, among others, have their headquarters in the region has supported the market growth.
R&D activities will continue to take center stage in the coming years.
One of the most common strategies adopted by players in the consumer drone market is research and development, which is directed toward improving 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 lightweight drone. One of the features of the new drone is that users can launch it right from their palms due to its small size. Similarly, in 2018, Skydio launched the R1 drone, which features a self-positioning action camera. The drone was designed with the purpose of recording the person it is following.
Historical & Forecast Period
This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2018 to 2026.
Report Scope by Segments
The report elucidates the detailed outline of the global consumer drone market by categorizing the market in terms of product type, technology, application, and geography.
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.
Frequently Asked Questions:
The report is forecasted from 2018-2026.The market for Consumer Drones is expected to reach US$ 11,290.6 Mn in 2026.
The Consumer Drones market is expected to see significant CAGR growth over the coming years,at 20.9%.
The report is forecasted from 2018-2026.
The base year of this report is 2017.
3D Robotics Inc.,Guangdong Cheerson Hobby Technology Co.Ltd.,Parrot S.A.,SZ DJI Technology Co.,Yuneec International Co. Ltd. are some of the major players in the global market.
