Consumer Drones Market - Global Market Share, Trends, Analysis and Forecasts, 2022 - 2032

The report titled ‘Global Consumer Drones Market - Growth, Share, Opportunities, and Competitive Analysis, 2022 - 2032’ offers strategic visions into the global consumer drones market along with the market size (Volume - Million Units and Revenue - US$ Billion). The said research study covers in-depth analysis of multiple market segments based on products, application, and study across different topographies. The report is also inclusive of competitive profiling of the leading consumer drones vendors, and latest developments.

A drone, in a technological perspective, is an unmanned aircraft. Drones are more officially known as unmanned aerial vehicles (UAVs) or unmanned aircraft systems (UASes). Fundamentally, a drone is a flying robot. The aircrafts may be remotely controlled or can fly autonomously through software-controlled flight plans in their embedded systems working in conjunction with onboard sensors and GPS. In the recent past, UAVs were most often associated with the military, where they were used initially for anti-aircraft target practice, intelligence gathering and then, more controversially, as weapons platforms. Drones are now also used in a wide range of civilian roles ranging from search and rescue, surveillance, traffic monitoring, weather monitoring and firefighting to personal drones and business drone-based photography, as well as videography, agriculture and even delivery services.

The global consumer drones market is expected to reach over US$ 114 Bn by 2024, growing at a CAGR of more than 16% during the forecast period 2018-2024.

With the huge surge in consumer electronics and devices such as smartphones, there has been rapid innovation in sensors, resulting in the easy availability of high-quality sensors at affordable prices. This has significantly boosted the production of consumer drones. With an increased focus to enhance the speed, maneuverability, durability, and quality of images and videos, the inclination towards the use of consumer drones will also increase. Moreover, vendors in the drones market are capitalizing on the availability of mobile, intelligent, and connected sensors to enhance the capabilities of their offerings. Consumer drones are primarily equipped with GPS, inertial, image, and ultrasound-based range sensors. With improvements in functionalities and features, consumer drones are increasingly being equipped with thermal, hyperspectral, and multispectral sensors, which will lead to further growth of the market over the next four years. Regulatory hurdles, safety and privacy issues, and threat of monopolization may significantly hamper the growth of consumer drones market in the coming years.

The global consumer drones market has been segmented based on products, application, and geography. Based on type of product, consumer drones are classified as nano, multi-rotor, hybrid, and fixed-wing. Multi-rotor drones are expected to dominate market during forecast period, due to increasing use in FPV racing and aerial photography. Nano drones are anticipated to witness significant growth, owing to their cost-effective operations. Based on applications, consumer drone market is segmented as toy/hobbyist, prosumer, and photogrammetry. Prosumer is expected to dominate the applications segment during period under study. Demand for drones in photogrammetry application segment is projected to increase significantly. This segment is projected to grow at a CAGR of 16.4% from 2019 to 2024. Other application segments are also expected to showcase significant growth thereby boost the demand for consumer drones over the forecast period from 2022 to 2032. Based on geography, the global consumer drones market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America comprises U.S., Canada, and Mexico whereas Europe would primarily cover Germany, France, UK, Italy, and Rest of Europe. The key countries included under Asia Pacific are China, Japan, India, Australia, and Rest of Asia Pacific. In Latin America, Brazil, Argentina, and Rest of Latin America are the key segments whereas in Middle East & Africa, South Africa and Rest of MEA are the key segments covered in the report. Asia Pacific consumer drone market is anticipated to witness substantial growth, owing to investment initiatives in China drone companies by U.S. investors. Additionally, strategies to build UAV production base in China to tap into developing industry is expected to surge industry growth.

The global consumer drones market is concentrated with leading manufacturers such as Parrot, Yuneec Electric Aviation, DJI Innovations, 3D Robotics, Cheerson, Walkera, SkyTech, Boeing / Insitu, Hubsan, Northrop Grumman AeroVironment, Syms Toys, WL Toys, and Blade/Horizon Hobby, among others.

Segmentation:

By Application

• Toy/hobbyist
• Prosumer
• Photogrammetry

By Products

• Nano
• Multi-rotor
• Hybrid
• Fixed-wing