PUBLISHER: The Business Research Company | PRODUCT CODE: 1387689
PUBLISHER: The Business Research Company | PRODUCT CODE: 1387689
“Consumer Drones Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on consumer drones market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for consumer drones? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The consumer drones market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Consumer drones, primarily designed for recreational use, are unmanned aerial vehicles tailored for entertainment purposes. They feature user-friendly controls specifically aimed at the general public rather than commercial applications.
Various categories of consumer drones include fixed-wing drones, rotary-blade drones, and hybrid drones. Fixed-wing drones are pilotless aircraft that can be remotely controlled by individuals or operated autonomously through onboard systems. These drones utilize diverse technologies such as remotely operated, semi-autonomous, and fully autonomous systems. They serve multiple purposes, including hobbies, gaming, and applications like aerial photography.
The consumer drones market research report is one of a series of new reports from The Business Research Company that provides consumer drones market statistics, including consumer drones industry global market size, regional shares, competitors with a consumer drones market share, detailed consumer drones market segments, market trends and opportunities, and any further data you may need to thrive in the consumer drones industry. This consumer drone market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The consumer drones market size has grown rapidly in recent years. It will grow from $5.72 billion in 2023 to $6.77 billion in 2024 at a compound annual growth rate (CAGR) of 18.2%. The growth observed in the historical period is primarily attributed to the expansion of community engagement, the diversification of usage scenarios, advancements in remote sensing and surveillance technologies, and the integration of autonomous and AI capabilities.
The consumer drones market size is expected to see strong growth in the next few years. It will grow to $9.25 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. Anticipated growth in the upcoming period is attributed to several factors, notably driven by e-commerce and delivery services, environmental and agricultural applications, utilization of drone swarms, and advancements in connectivity and data sharing. Significant trends expected in this forecast period involve advancements in battery technology, noise reduction, enhancements in camera technology, and technological progress.
Increasing demand within the agricultural sector is poised to drive the growth of the consumer drone market in the foreseeable future. Agriculture encompasses the cultivation of soil, crop production, and livestock management. Consumer drones play a pivotal role in agricultural practices by providing farmers with comprehensive insights into their crops and livestock, enabling more informed decisions and the optimization of farming operations. For instance, according to the California Department of Food and Agriculture, agricultural cash receipts in California for 2022 amounted to $55.9 billion, signifying an 8.8% year-over-year increase. Additionally, agricultural exports from California reached $22.5 billion in 2021, marking a 7% increase from 2020. Thus, the mounting agricultural demand is a driving force in the consumer drone market.
The increasing trend of aerial photography is fueling the growth of the consumer (recreational) drone market. Photography enthusiasts are turning to drones to capture unique photographs and videos from elevated perspectives, eliminating the need for expensive equipment like high-end video cranes. This surge in popularity has encouraged consumers to invest in hobbyist drones for photography purposes, consequently contributing to market expansion. As reported by the United States Federal Aviation Administration, there were 3.5 million small hobbyist drones in operation in 2021.
The deceleration in the adoption of commercial drones for outdoor pursuits and the lack of available workforce due to the COVID-19 pandemic is anticipated to impede the consumer drone industry's advancement. The global spread of coronavirus across 214 countries has disrupted manufacturing and supply chain operations in various sectors. This has led to interruptions in e-commerce deliveries, affecting the consumer drone industry and other electronic markets. Numerous countries have enforced lockdowns, limiting non-essential movement, while major retail stores have faced closures, contributing to reduced offline sales. Consequently, the reduced use of commercial drones for outdoor activities, combined with the pandemic's adverse effects on production, logistics, and workforce availability, is expected to significantly limit the growth of the consumer drone market in the immediate future.
Key players in the consumer drone market are innovating with products like the Mini 4 Pro to enhance customer experiences. SZ DJI Technology Co. Ltd., a technology company based in China, introduced the Mini 4 Pro in September 2023. This lightweight drone incorporates advanced features, such as the DJI Fly app integrated within the device for flight control, removing the necessity for separate smartphone use. The Mini 4 Pro boasts several innovative functionalities, including Large-Angle Tilt, True Vertical Shooting, Digital Zoom, DJI O4 FHD digital video transmission system, omnidirectional obstacle sensing, improved ActiveTrack 360°, an upgraded camera sensor, and an Intelligent Flight Battery. These attributes collectively position the drone as a versatile and powerful choice for enthusiasts seeking adventure.
Drone manufacturers are increasingly leveraging artificial intelligence to automate consumer drones. Integrating deep-learning algorithms and various machine learning techniques, these drones can navigate and operate beyond the user's direct control and line of sight. This incorporation of AI allows the drones to be programmed for independent flight, relying on variables like target destination, engine rotor speed, altitude, airspeed, and environmental conditions to self-navigate and make necessary adjustments. For instance, Skydio's R1 drone employs machine learning capabilities, enabling it to autonomously maneuver and track individuals while in flight.
In January 2023, Ondas Holdings Inc., a technology company based in the United States, successfully finalized the acquisition of Airobotics for $15.2 million. With this acquisition, Ondas' drone division is strategically positioned to address a wider array of customer markets, drawing on Airobotics' technology, specialized knowledge, and unique drone platform to enrich Ondas' existing product portfolio and fortify its array of customer solutions. Airobotics Ltd. is a drone manufacturing company based in Israel.
Major companies operating in the consumer drones market include 3D Robotics Inc., Guangdong Cheerson Hobby Technology Co. Ltd., Parrot S.A., SZ DJI Technology Co. Ltd., Yuneec International Co. Ltd., EHang Holdings Limited, Airdog Ltd., GoPro Inc., Hobbico Inc., Shenzhen Hubsan Technology Co. Ltd., Horizon Hobby LLC, Guangdong Syma Model Aircraft Industrial Co. Ltd., Walkera Technology Co. Ltd., ZEROTECH Intelligence Technology Co. Ltd., Autel Robotics USA LLC, Syma Toys Industrial Co. Ltd., Blade Helis, Holy Stone Enterprise Co. Ltd., JJRC Toy Factory, Potensic Technology Co. Ltd., Ryze Tech (Shenzhen) Co. Ltd., Snaptain, Altair Aerial LLC, Contixo Inc., Force1 RC LLC, GoolRC, Ruko Smart Co. Ltd., ScharkSpark, SGOTA, SIMREX Corporation, Tello, UDI RC, Shantou City Chenghai District Wisha Electronic Toys Factory (Visuo)
North America was the largest region in consumer drones market in 2023. North America is expected to be the fastest growing region in the global consumer drones market during the forecast period. The regions covered in the consumer drones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the consumer drones market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The consumer (recreational) drone market consists of sales of remotely piloted and unpiloted aerial vehicles for general purposes such as recreation, fun, and entertainment by mass users. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.