Consumer Drones Market size is set to grow by USD 8.25 billion from 2024-2028, Advancements in sensors and the emergence of low-cost drones boost the market, Technavio

NEW YORK, Aug. 5, 2024 /PRNewswire/ — The global consumer drones market size is estimated to grow by USD 8.25 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 18.52% during the forecast period. Advancements in sensors and the emergence of low-cost drones is driving market growth, with a trend towards availability of affordable consumer drones. However, stringent government regulations regarding the use of consumer drones poses a challenge. Key market players include AeroVironment Inc., Autel Robotics Co. Ltd., Eachine, EHang Holdings Ltd., GoPro Inc., Guangdong Aircraft Industrial Co. Ltd., Horizon Hobby LLC, Jianjian Technology Co. Ltd., Parrot Drones SAS, PrecisionHawk Inc., Shenzhen Hubsan Technology Co. Ltd., Shenzhen Zero UAV Tech. Co. Ltd., Skydio Inc., Skytech Drone sp zoo, SZ DJI Technology Co. Ltd., Teledyne Technologies Inc., Walkera, and Yuneec International Co. Ltd.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Market Driver

The global consumer drones market is experiencing significant growth due to increasing demand and new entrants. DJI, a major player, is focusing on advanced, inexpensive drones with technologies like object sensing and path detection. The declining price of electronic components, primarily in China, enables DJI to reduce drone prices, sparking competition. This price war, coupled with rising per capita income, recreational trends, and business opportunities, fuels market growth during the forecast period. 

The consumer drone market is experiencing significant trends, with technological modifications and navigation technologies leading the way. Hobbyists and enthusiasts continue to drive demand for recreational drones, while aerial photography and production patterns shape consumption patterns. The adjacent market, including law enforcement and novel electronics technology, presents revenue growth opportunities. However, the industry faces challenges such as safety concerns, limited battery life, and high initial costs. Regulatory environment plays a crucial role in shaping the market landscape. Innovative features like integrated gas systems and technological breakthroughs in fixed wing drones and hybrid type drones are transforming the industry. Camera drones, selfie drones, toy drones, entry level drones, mid-range drones, and high-end drones cater to various consumer segments. Start-up businesses and drone racing add excitement to the market. However, privacy concerns remain a significant challenge. The market comprises various segments, including toy/hobbyist drones, nano drones, and consumer drone applications. The regulatory environment, safety concerns, and technological advancements require scenario-based analysis and industry interviews to gain a comprehensive understanding of the market. 

Discover 360° analysis of this market. For complete information, schedule your consultation – Book Here!

Market Challenges

The consumer drones market faces regulatory challenges due to the various guidelines set by aviation authorities worldwide. For instance, in the US, the Federal Aviation Administration (FAA) requires users to obtain permission before flying near airports and prohibits drones from flying above 400 feet or in clouds. In Hong Kong, the Civil Aviation Department (CAD) mandates keeping drones at least 30 meters from the public and certain structures if they weigh between 250g and 1kg. Similar rules apply in other countries, such as Transport Canada, the Federal Ministry of Transport and Digital Infrastructure in Germany, the Civil Aviation Authority in the UK, the Civil Aviation Safety Authority in Australia, and the DGCA in France. These regulations may limit consumer drone adoption due to the need for specific certifications, qualifications, or modifications, potentially impacting vendors’ financial performance and market positions negatively.The consumer drone market is experiencing significant growth, driven by hobbyists and enthusiasts seeking innovative features for aerial photography and recreational purposes. However, challenges persist, including the risk of mishaps and safety concerns. Technological modifications, such as navigation technologies and advanced speed systems, aim to address these issues. Regulatory environment and limited battery life are other challenges. The market includes various segments, including camera drones, toy drones, recreational drones, selfie drones, entry-level drones, mid-range drones, high-end drones, law enforcement drones, fixed-wing drones, hybrid type drones, nano drones, and drone racing. Start-up businesses and novel electronics technology continue to shape the industry. Scenario-based analysis, industry interviews, and technological breakthroughs provide insights into future trends. Privacy concerns remain a significant issue. The market includes various players, including Technology Hardware and Integrated gas systems, offering innovative solutions. Safety concerns and high initial costs are major challenges for the market.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This consumer drones market report extensively covers market segmentation by  

Product 1.1 Multirotor1.2 Fixed wing1.3 Single rotorDistribution Channel2.1 Offline2.2 OnlineGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Multirotor-  The consumer drones market, specifically multirotor drones, has experienced significant growth due to increasing demand for aerial photography and non-military applications. These drones, which include tricopters, quadcopters, hexacopters, and octocopters, are popular among hobbyists and professionals for tasks such as aerial photography, video surveillance, and surveying. Quadcopters, with their four rotors, are the most widely used multirotor drones, offering more control for users. However, they have limited flying time and are not ideal for long-distance surveying or inspection. Technological advancements have enabled multirotor drones to carry bigger payloads, including cameras, electro-optics, autopilot, GPS/INS, and sense and avoid systems. With the expanding possibilities in consumer and industrial markets, the global consumer drones market is expected to grow steadily during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The consumer drone market is experiencing significant growth, driven by the increasing popularity of these unmanned aerial vehicles (UAVs) for various applications. Fixed wing drones and hybrid type drones are gaining traction in the market due to their longer flight times and increased payload capacity. Toy/hobbyist drones and nano drones continue to dominate the market in terms of sales volume, catering to the needs of hobbyists and enthusiasts. Start-up businesses are also leveraging novel electronics technology to introduce innovative consumer drone products. Consumer drone applications include aerial photography, recreational purposes, and law enforcement. Photogrammetry is another application gaining popularity, particularly in the construction and agriculture industries. However, privacy concerns and the risk of mishaps remain challenges for the market. Technological modifications, such as improved battery life and collision avoidance systems, are being introduced to address these concerns. The market is also witnessing revenue growth through adjacent markets, such as drone racing and production patterns and consumption patterns continue to evolve. Scenario-based analysis suggests that the market will continue to grow, with hybrid drones expected to gain significant market share in the coming years.

Market Research Overview

The consumer drone market is experiencing significant growth, driven by the increasing popularity of these devices for various applications. Fixed wing drones and hybrid type drones are gaining traction in law enforcement and industrial inspections, while toy/hobbyist drones, nano drones, and drone racing continue to dominate the recreational sector. Start-up businesses are leveraging novel electronics technology and innovative features to bring new consumer drone products to market. Photogrammetry and aerial photography are key applications, with revenue growth expected in the adjacent market. However, privacy concerns and the risk of mishaps remain challenges. Technological modifications, including navigation technologies and advanced speed technologies, are addressing safety concerns. Limited battery life and high initial costs are barriers to entry for some consumers. Camera drones, toy drones, recreational drones, selfie drones, entry-level drones, mid-range drones, and high-end drones cater to different segments. Regulatory environment and technological breakthroughs are shaping the industry landscape. Safety concerns and privacy issues are under scrutiny, with safety features and privacy policies becoming essential selling points.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductMultirotorFixed WingSingle RotorDistribution ChannelOfflineOnlineGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/consumer-drones-market-size-is-set-to-grow-by-usd-8-25-billion-from-2024-2028–advancements-in-sensors-and-the-emergence-of-low-cost-drones-boost-the-market-technavio-302211629.html

SOURCE Technavio