PUBLISHER: Allied Market Research | PRODUCT CODE: 1239554
PUBLISHER: Allied Market Research | PRODUCT CODE: 1239554
The drone light shows market was valued at $1,325.7 million in 2021, and is estimated to reach $2,389.6 million by 2031, registering a CAGR of 5.6% from 2022 to 2031. In 2021, the drone formation segment accounted for the majority of the total drone light show market. Drone light shows are created by groups of drones that are lit, coordinated, and choreographed to form various aerial formations. Almost any image in the sky can be replicated by computer software that converts images into flight commands and sends them to the drones while keeping the image and the drones coordinated and synchronized. Drone shows have progressed from the academic lab to large-scale deployments at major events around the world in recent years.
Standards of living across the world are increasing significantly as consumer incomes are increasing rapidly. This is leading to an increase in consumer participation in various types of entertainment events such as music festivals. Organizers of these events are employing attractions such as drone light shows in order to attract a larger consumer base to their events. Drone light shows are often a part of the main event of such programs, and are highly attractive to consumers, because of which they often visit these events. This increase in expenditure on events is leading to an increase in the adoption of drone light shows for the events, which is helping boost the market.
Drone technology is rapidly developing across the world. Many manufacturers of drones are incorporating several new features in their drones that are helping improve the functionality of the drones as well as the performance of the drones in terms of handling, maneuverability, light compatibility, and more. Several drone manufacturers are including inbuilt sync technologies in their drones that make coordination between several drones much simpler and more efficient, with lower chances of accidents or drones crashing into each other or the surrounding environmental factors. This addition of technology is helping make drone light shows easier, leading to an increase in the purchase of drones. Further improvements in technology will lead to massive growth for the drone light show market in the future.
There are several regulatory guidelines in every country regarding the usage of drones. Many countries across the world have a complete ban on the flight of commercial drones, while other countries have the ban imposed on areas with high importance such as airports, defense areas, governmental buildings, and other such high-profile areas. The process of obtaining a permit to fly drones in such countries can be a long and arduous process and can often include monetary charges to ensure proper adherence to rules. These rules and regulations can often deter the use of drones, which leads to losses for the drone light show market.
Due to the presence of significant manufacturing technology and drone making brands in these countries, there is a strong presence of drone light show manufacturers in the United States, UK, Germany, and other western countries. Drones must be imported due to the steadily increasing demand for such products in developing countries around the world, raising product costs, and discouraging consumers from purchasing drones for drone light shows. As demand grows, however, many new companies are entering the developing-country drone industry. This makes drones more accessible to consumers in the region while also lowering their costs, enticing them to buy drones and perform drone light shows.
The drone light show market is segmented on the basis of type, application, and region. By type, the drone light show market is classified into drone formations, animated shows, indoor shows, and drone launched fireworks. According to the application of drone light shows, the market is segmented into tourist attractions, public events, trade shows, corporate events, sporting events, music concerts, and others. By region, the market is divided across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Netherlands, and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and the Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, United Arab Emirates, Argentina, and Rest of LAMEA).
Some of the major players analyzed in this report are Arts Outdoor Lighting Multimedia Events & Drones LLC., BotLab Dynamics Pvt. Ltd., CollMot Robotics Ltd., Drone Arrival, Inc., Dronisos, FlightShows, Flyby Guys, Geoscan Ltd., Great Lakes Drone Company, LLC, Hire UAV Pro LLC, Intel Corporation, JH Technology Arts GmbH, Magic Drone , Shenzhen HighGreat Innovation Technology Development Co., Ltd, SKD International Drone Events, Sky Elements, LLC, Skymagic Live Pte. Ltd., Swarmtech Drones Ltd., Verge, Inc., and Verity AG.