The consumer drones market is anticipated to grow significantly because of its growing use for commercial and recreational purposes. Companies are utilizing drone-acquired data in their business operations to accelerate their service delivery.
Progressions in-flight controls and technology in addition to innovations in portable video & photography technology have augmented the demand for consumer drones including tiltrotors, multi-copters, and helicopters.
The evolution of innovative technologies, such as geo-fencing and collision avoidance that make drones safer has triggered increased adoption of consumer drones in several industries
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Consumer Drones Market – Key Trends
The growing popularity of aerial photography is boosting the market for consumer drones. Photography enthusiasts are progressively utilizing drones to capture videos and photographs from a birds-eye view, which otherwise requires high-end video cranes. As per the US Federal Aviation Administration(FAA), the small hobbyist drones is anticipated to touch 3.5 million by 2021.
The appearance of hybrid drones, functioning on non-conventional energy sources will elevate the industry demand in the approaching years. Consumers’ drones functioning on solar power discover its significance in several applications, comprising surveillance and mapping. Countries, such as China and the U.S., are significantly investing in the research and development of hypersonic drones due to its swift flight speed.
Growing popularity and adoption of consumer drones has directed towards the formulation of new government regulations, to balance safety and innovation. The FAA in the U.S. will be releasing new regulations that might propel UAV (Unmanned Aerial Vehicle) adoption in the region.
Consumer Drones Market – Growth Restraints
Consumer Drones have a limited and short battery life which can affect its performance. Unstructured and stringent regulations by the government concerning consumer drones might additionally impede market growth. Maintenance in addition to repair complexities, related to drones will impede market growth.
Furthermore, the absence of appropriate infrastructure to ensure privacy and safety issues in under-developed and developing regions are creating immense challenges for market participants.
COVID-19 Impact on Consumer Drones Market
The consumer drone market is witnessing a slowdown in commercial drones usage for outdoor activities, and workforce unavailability to execute requisite operations due to the COVID-19 outbreak. As per the WHO, COVID-19 has disrupted logistics and manufacturing all over several sectors. Several e-commerce companies have ceased the supply of non-essential items impacting the consumer drones sector together with other electronic supplies.
Consumer Drones Market – Region-wise Analysis
North America will remain the biggest market for consumer drones during the forecast period due to increased spending by the government on advanced drones and forthcoming favorable initiatives by the FAA (Federal Aviation Authority) are projected to fuel the industry growth in the region.
Europe will be accounting for a considerable market share in the global market owing to EU’s decision making and capability in unleashing advanced technology in testing and experimenting with the potential drones uses.
Asian consumer drone market is anticipated to foresee a remarkable growth throughout the forecast period due to heavy investments by US investors in the region.
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Consumer Drones Market – Competitive Analysis
Prominent participants in the market are, Cheerson, 3D Robotics, Parrot S.A, Yuneec, DJI, EHang, GoPro, Airdog, and Guangdong Cheerson Hobby Technology. As the market is providing tremendous prospects, the market participants are additionally anticipated to witness stern competition in the market. In the approaching years, participants are likely to be engaged in R&D activities, innovations, and collaborations. For instance,
Skydio has launched an R1 drone, which utilizes ML to maneuver itself in mid-air in addition to following an individual (target) wherever they move.
Red Cat Holdings Inc. took over Rotor Riot a manufacturer of FPV freestyle drone content and products for hobby and sport. This acquisition will combine all expertise and resources of the rotor riot to facilitate expansion for both the firms to expand the customer base for FPV drones. The firms additionally aim at developing and offering exciting and new technologies for drones for the commercial sector, lifestyle, and hobby.
DJI launched Spark, a portable mini drone that incorporates several smart features such as face tracking technology to capture remarkable videos with little effort.
Global Consumer Drones Market: Market Segmentation
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Global Consumer Drones Market: Key Players
- 3D Robotics
- Parrot S.A,
- Guangdong Cheerson Hobby Technology
- Shenzhen Hubsan Technology
- Horizon Hobby
- Guangdong Syma Model Aircraft Industrial
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