Pune, March 20, 2023 (GLOBE NEWSWIRE) -- As per SNS Insider analysis, the development of new and innovative applications for drones, such as delivery services and drone racing, is expanding the market and creating new opportunities for growth. SNS Insider reports that the Consumer Drones Market is projected to increase from USD 4.34 billion in 2022 to USD 19.71 billion by 2030, with a robust compound annual growth rate of 20.8% from 2023 to 2030.
Consumer drones, also known as personal drones or recreational drones, are unmanned aerial vehicles (UAVs) that are designed for non-commercial purposes. They are typically smaller and more affordable than professional drones used in industries such as cinematography or agriculture. The technology used in consumer drones has advanced significantly in recent years, with features such as GPS, obstacle avoidance, and automated flight modes becoming standard.
Consumer Drones Market Report Scope
| Report Attributes | Details |
| Market Size in 2022 | US$ 4.34 Billion |
| Market Size by 2030 | US$ 19.71 Billion |
| CAGR 2023-2030 | CAGR of 20.8% |
| Key Segments | • By Type (Rotary Blade Drone, Fixed Wing Drone, Multi Rotor Drones, Fixed Wing Drones, Single Rotor Helicopter, Fixed Wing Hybrid VTOL) • By Product (Multi-Rotor, Nano, Other Product) • By Application (Aerial Photography, Hobbyist & Gaming, Construction, Agriculture, Other Applications) • By Technology (Autonomous Drone, Semi-Autonomous Drone, Remotely Operated Drone) • By Capability (passenger Drones, Cargo Drones) • By Capacity (Up To 100 Kg, Over 100 Kg) |
| Company Profiles | 3D Robotics, Cheerson, Parrot S.A, DJI, Yuneec, EHang, Airdog, GoPro, Guangdong Cheerson Hobby Technology, Hobbico, Shenzhen Hubsan Technology, Horizon Hobby, Guangdong Syma Model Aircraft Industrial, Walkera, ZEROTECH |
| Key Drivers | • The development of sensors and the emergence of low-cost drones is one of the key factors supporting the market growth of consumer drones |
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Market Analysis
The use of drones is becoming more and more popular among consumers who are looking to enhance their leisure activities and interests. This has resulted in a significant increase in global sales of consumer drones. Technological advancements in the design and features of consumer drones are also driving the growth of the consumer drone market, and this trend is expected to continue in the future. One of the key drivers of the consumer drones market growth is the continuous technological innovations being made in drone design and capabilities. These innovations are making drones more user-friendly, affordable, and sophisticated, which is driving demand for them. Companies that can provide innovative and high-quality products at competitive prices will be well positioned to capitalize on this growth trend.
Impact of Russia-Ukraine Conflict
The ongoing conflict between Russia and Ukraine has had a significant impact on the consumer drones market. The regulations and limitations on the use of drones, disruptions in the supply chain, and a decline in demand have all contributed to a challenging environment for drone manufacturers and enthusiasts. It remains to be seen how the conflict will continue to affect the industry in the coming years.
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Key Regional Development
The consumer drones market has witnessed significant growth in recent years, with North America emerging as a dominant player. This can be attributed to the region's increasing adoption of advanced drone technologies. The use of civilian drones for both recreational and commercial purposes has expanded rapidly in recent times, mainly due to the emergence of innovative consumer electronics, and the decreasing cost of server and bandwidth consumption. In North America, the use of drones has gained widespread acceptance in various industries, including agriculture, real estate, and construction, among others. The adoption of drones in these sectors has led to increased efficiency and productivity, as well as cost savings.
Recent Developments Related to Consumer Drones Market
- Manna, a drone delivery company, has made its entry into the US market with the support of a significant investment from Coca-Cola HBC. The move represents an exciting development in the burgeoning field of autonomous delivery, with Manna poised to capitalize on the growing demand for fast and efficient delivery services.
- Alphabet's drone delivery service, Wing, is gearing up for a network that can deliver millions of packages. With the growing demand for fast and efficient delivery, the use of drones has become increasingly popular. Wing's network of drones is expected to revolutionize the way we receive our packages by offering a quicker and more convenient solution.
Key Takeaway from Consumer Drones Market Study
- The market has witnessed significant growth in recent years, and multi-rotor drones have emerged as a prominent player in this segment. These drones are expected to see substantial growth in the coming years due to their increasing usage in aerial photography and filming.
- According to research, the autonomous drone segment is expected to capture a higher revenue share in the consumer drones market. As technology continues to advance, drones are becoming more sophisticated and capable of performing a wide range of tasks, from capturing stunning aerial footage to delivering packages.
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