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The consumer drones market size is forecast to increase by USD 8.26 billion, at a CAGR of 18.52% between 2023 and 2028. Market growth hinges on several factors such as advancements in sensor technology and the emergence of affordable devices, increasing acquisitions and partnerships, and the rising popularity of drone racing. These elements drive innovation and expansion within the technology and entertainment sectors. The evolution of sensors and cost-effective device options enhances capabilities across various industries, from healthcare to manufacturing. Simultaneously, a growing number of acquisitions and partnerships foster collaborative innovation and market consolidation. Moreover, the rise of drone racing as a recreational and competitive sport attracts enthusiasts and drives demand for drone-related technologies and accessories. These trends underscore opportunities for market players to leverage technological advancements, strategic alliances, and emerging consumer interests to drive sustained growth and competitiveness in the global marketplace. It also includes an in-depth analysis of market trends and analysis, market growth analysis and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
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The consumer drone market is experiencing rapid growth driven by advancements in novel electronics technology and increasing applications across various sectors. Consumer drone applications multi rotor drones, fixed-wing drones, hybrid type drone, and nano drones, catering to toy/hobbyist drone, recreational purposes, and commercial uses. These unmanned aerial vehicle (UAVs) are utilized in photogrammetry, law enforcement, and start up businesses, offering capabilities for aerial photography, surveillance, and more. However, the market faces challenges such as privacy concerns and the risk of mishaps, necessitating technological modifications and stringent regulations. Manufacturers focus on production patterns and consumption patterns to meet diverse consumer drone products needs and enhance safety features. Revenue growth is driven by enthusiasts exploring new applications, alongside scenario based analysis to predict market trends and demands. As the industry evolves, adjacent market like drone accessories and service sectors benefit from the expanding consumer interest in drone technology.
The growing number of acquisitions and partnerships are notably driving the market growth. Competition is intense among existing companies in the global market. Therefore, companies enter into strategic partnerships and acquisitions with market players such as software companies, technology hardware, hardware companies, product designers, and platform companies. Strategic alliances and acquisitions help companies develop improved products, expand geographic reach, and gain technical expertise.
For example, in September 2020, Skydio Inc. and EagleView announced a unique property inspection partnership for automated residential roof inspections using the devices. Such strategic partnerships and acquisitions between suppliers will have a positive impact on the growth of the global drone market during the market growth and trends period.
The adoption of delivery drones is an emerging trend in the market. Delivery drones are designed to transport materials. A delivery drone will work with an anchor or basket-like feature on the bottom part. For instance, Amazon has been working on a drone-based delivery system for its packages. The goal of this system, which is called Amazon Prime Air, is to fly individual packages out to customers within 30 minutes of ordering. This system will also increase the overall safety and efficiency of the transportation system. Amazon Prime Air drones will be connected to the internet to allow flight control management and communication between the devices.
The use of these devices can effectively deliver goods in a shorter time than that road transport. An increase in traffic congestion has reduced the degree of vehicle maneuverability and poses several limitations to the delivery of goods by roads. The use of the devices for delivery will help in overcoming such limitations during the forecast period.
Limitations associated with consumer camera drones are a major challenge impeding the market growth. Despite saving work and time, there are a few limitations of these products that are negatively affecting market growth. For example, an intruder has the ability to shoot down, capture, and disable unmanned aircraft vehicle system, and the high cost of consumer camera devices makes the purchase very expensive.
Although they are convenient to use, they have short battery life. The average lifespan of the battery is 10-15 minutes. Larger variants can fly up to 25 minutes and take around 3 hours to charge the batteries completely. The devices can be shot down, captured, and disabled by an intruder. Consumer camera devices are expensive. Permits and logistics may be costly or time-consuming depending upon the guidelines that will be put forth by the FAA and the Federal Government. Thus, the limitations associated with consumer camera devices will hamper the focused market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Skytech Drone sp zoo- The company offers autonomous functions of drone professional applications in industries. The company's key offerings include consumer drones for agriculture, security, and sports.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Based on product, the market is segmented into multirotor, fixed wing, and single rotor. The market share growth by the multirotor segment will be significant during the forecast period. Multirotor unmanned aircraft vehicle system are the most popular type of devices that are used by hobbyists and professionals. Aerial photography, video surveillance, and surveying are some of the applications of this segment.
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The multirotor segment was the largest segment and valued at USD 2.73 billion in 2018. The ideal option for sending small cameras in the air for a relatively short period of time is fulfilled by the Multirotor unmanned aircraft vehicle system. The user is provided with more control over positioning and framing to get a perfect aerial photo shot. Multirotor devices are the easiest to manufacture and the most economical to fly. However, these devices have limited flying time, less endurance, and less speed. They are not suited for long-distance surveying applications, mapping, or inspection. Due to rising demand in consumer and civic applications, the multi-rotor drone market segment has been growing rapidly in recent years. One of the main reasons for its increased acceptance is technological advancements. Thus, with the increasing demand for multi-rotor, the global market will grow during the forecast period.
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APAC is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America is the largest operator of unmanned aircraft vehicle system around the globe. The drone market in the US majorly witnesses revenue contributions from military, defense, and commercial segments. However, the adoption in aerial photography has witnessed growth over the years. In North America, the US, Canada, and Mexico are the key leading countries for the market. Many companies in the region are also launching devices with advanced technologies, which will drive the market during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
Commercial Drones Market: Commercial Drones Market Analysis North America, Europe, APAC, Middle East and Africa, South America - US, China, France, UK, Japan - Size and Forecast
Drone Robots Market: Drone Robots Market Analysis North America, Europe, APAC, Middle East and Africa, South America - US, China, Germany, UK, Japan - Size and Forecast
Drone Navigation System Market: Drone Navigation System Market Analysis North America, APAC, Europe, Middle East and Africa, South America - US, China, France, Germany, Russia - Size and Forecast
The consumer drones market is characterized by a diverse array of products catering to various applications and consumer segments. Multi rotor consumer drones, fixed wing drones, and hybrid type drones are prominent categories within the broader spectrum of unmanned aerial vehicle (UAV). These drones leverage navigation technologies and advanced speed technologies to enhance flight capabilities and user experience. Driven by technological breakthroughs and increasing industry interviews, consumer drones are widely adopted for aerial photography and videography drones, mapping and surveying drones, and even selfie drones. They serve across different levels from entry level drones to mid range drones and high end drones, each offering distinct features suited to recreational drones, hobbyist, and professional use. However, challenges such as limited battery life, high initial costs, and safety concerns persist, influencing market dynamics. Manufacturers focus on integrated gas systems and innovative features to improve drone performance and address the regulatory environment. Enhanced education and awareness further promote consumer adoption, driving the growth of this dynamic market segment. Hybrid drones, popular among hobbyists, blend advanced technology hardware with the appeal of toy drones, offering versatility and enhanced capabilities for recreational use.
Industry Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 18.52% |
Market growth 2024-2028 |
USD 8.25 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
15.18 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 36% |
Key countries |
US, China, France, UK, and Switzerland |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
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. |
Market dynamics |
Parent market analysis, Market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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