Dublin, June 24, 2024 (GLOBE NEWSWIRE) -- The "Consumer Drones Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The consumer drones market is expected to grow at a compound annual growth rate (CAGR) of 17.26% from US$5.713 billion in 2022 to US$17.412 billion in 2029.
Motor drivers, angles, locations, charging sensors, chargers, and controllers are all included in consumer drones to ensure optimal control systems and power efficiency. These consumer drone components have superior efficiency and consume little power, which influences consumer purchasing choices effectively. The growing popularity of drone racing and photography contests, as well as other efforts that encourage drone flight as a recreational activity, is also contributing to the market's growth.
Additionally, as per Federal Aviation Administration data of for the U.S. in of February 2024, the number of drones registered was 781,781, while commercial drone registration was 375,226, and recreational drones registered was 400,858. Recreational activities, mapping terrain, taking aerial photos, and drone racing are among the majority of the uses for consumer drones, which are utilized by hobbyists, photography enthusiasts, and gamers.
Growing popularity of aerial capturing and integration of artificial intelligence is anticipated to propel market growth.
A significant increase in consumer awareness regarding the use of drones for aerial capturing is being witnessed. Therefore, the growing availability of consumer drones has been complemented by its latest technological advancements. The most recent drone model specifications include increased accuracy, faster speeds, tracking systems that can be linked to the user's phone, and efficient, secure, and effective control systems. Hence, this has increased its demand among its targeted audience.
Instead of high-end video cranes, photography enthusiasts are increasingly using consumer drones to capture photos and videos. Consequently, the manufacturers have focused on the automation of consumer drones using artificial intelligence, which permits the programming of navigation commands within the drone itself. The adoption of artificial intelligence (AI) allows drone users to capture and use optical and environmental data from sensors connected to the drone. Through this technology, drones can recognize objects in the air and analyze and capture data on the ground.
Therefore, the growing popularity of consumer drones and the integration of artificial intelligence has prompted the market players to tap this huge potential through regular investment and expansion of the product offering.
The rotary blade drone is projected to grow.
The most popular type of drone blades are used for videos from the angle of the bird's flight for personal and commercial purposes like real estate, sports events, and weddings. Furthermore, the continuous increase in the order of high-precision aerial photography and videography leads to the increasing growth of the demand for rotary blade drones.
Thereby, the variations in drone-related products that major companies offer can affect the overall product demand. Owing to this, the companies established their preposition by offering a wide range of rotary blade drone variants which have unique utilities and extra functions when compared to the competition. Such as drone providers, with the ability to fly for longer periods, and have better camera resolutions or better obstacle avoidance systems, would have a higher market share due to these advantages.
Furthermore, manufacturers that produce rotary blade drone models complete with various custom features and features can equally stimulate innovation as they provide advanced abilities. For example, digital manufacturers are developing new and improved sensors or cameras that enhance the performance and function of drones while also creating a demand and expanding the market. Consequently, the different rotary blade drone product variants presented by leading companies, as well as the technological influence on the market, are anticipated to promote innovation and differentiation within the rotary blade drone market.
Advances in drone technology, such as improved sensors, longer battery life, and better cameras, are making rotary-blade drones more capable and versatile. This is driving the development of new and innovative drone applications, further fueling demand for rotary blade drones. The rotary blade drone market is also supported by the funding and investment secured by key market firms to rebrand and strengthen their positions.
The market is projected to grow in the APAC region.
The growing popularity of social media like TikTok and Instagram has increasingly helped drone activities become more common among Chinese users. Over time, people started to use drones with great potential for in taking and sharing bird's eye view photos of their trips, adventures, and ordinary life they share them online to show their creativity and talent. As amateurs and professionals alike are fond of them, they are mostly used to capture aerial videos of high quality.
China's drone industry has shown an amazing growth rate over the last couple of years, with unmanned aerial vehicles (UAVs) now being used more widely in different industry sectors. According to the Civil Aviation Administration of China, 1.27 million licensed UAVs were registered at the end of 2023, which was a 32.2 percent increase from 2022. Drone operations constituted around one-fifth of all organizations, having employed more than 194,000 people with drone pilot certification.
UAVs are of great importance to the agricultural, forestry, animal husbandry, fishery industries, entertainment, and network photography in China. On the other hand, the usage of drones has gone from uncommon to widespread in the entertainment and media industries, such as film and television, as well as photography and live events. Therefore, Chinese users are more involved in drones for recreation, such as capturing aerial footage and participating in drone races upsurging the overall market growth.
Key Players:
- Parrot SA, a Paris-based company, designs and manufactures consumer and commercial drones. Their consumer drones are designed for aerial photography and videography and include mini, AR, and bebop drones. Parrot also offers commercial drones, including the ANAFI Ai and ANAFI USA.
- DJI, headquartered in Shenzhen, which is commonly regarded as China's Silicon Valley, has direct access to the suppliers and raw materials. As a privately owned and controlled corporation, DJI focuses on its vision, promoting creative, commercial, and charity applications of its technology. Additionally, professionals in filmmaking, agriculture, conservation, search and rescue, energy infrastructure, and other fields rely on DJI to provide fresh insights and assist them in completing tasks that are safer, faster, and more efficient than ever before.
- Autel Robotics is located in Shenzhen, China's industrial and digital frontier and drone capital. Autel also has substantial subsidiary bases in the United States, Germany, Italy, and Singapore, where elite talent is recruited to study and develop cutting-edge drone technology and autonomous solutions. Autel Robotics' commitment to R&D has gained them a dominant position in the worldwide drone industry.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 135 |
| Forecast Period | 2022 - 2029 |
| Estimated Market Value (USD) in 2022 | $5.71 Billion |
| Forecasted Market Value (USD) by 2029 | $17.41 Billion |
| Compound Annual Growth Rate | 17.2% |
| Regions Covered | Global |
COMPETITIVE ENVIRONMENT AND ANALYSIS
- Major Players and Strategy Analysis
- Market Share Analysis
- Mergers, Acquisitions, Agreements, and Collaborations
- Competitive Dashboard
COMPANY PROFILES
- Kitty Hawk Corporation
- SZ DJI Technology Co. Ltd.
- Autel Robotics
- Parrot SA
- Yuneec International Co. Ltd.
- Shenzhen Hubsan Technology Co., Ltd.
- Jianjian Technology Co. Ltd.
- Guangzhou Walkera Technology Co. Ltd.
- Ehang Inc
- Skydio
SEGMENTATION
By Product Type:
- Fixed Wing Drone
- Rotary Blade Drone
- Hybrid Drone
By Application
- Hobbyist & Gaming
- Aerial Photography
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Italy
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Taiwan
- Thailand
- Indonesia
- Others
For more information about this report visit https://www.researchandmarkets.com/r/fo3i4h
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