Authored By: Sarah
11 Jul 2024

 Consumer Drones Market Size to grow by USD 8259.1 million between 2024-2028

According to a research report “ Consumer Drones Market” by Product (Multirotor, Fixed wing, Single rotor) Distribution Channel (Offline, Online) Geography (North America, APAC, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 8259.1 million, at a CAGR of  18.52% during the forecast period. In the Consumer Drone Market, vendors are leveraging advancements in mobile, intelligent, and connected sensors to enhance product capabilities. Equipped with GPS, inertial, image, and ultrasound sensors, consumer drones are now increasingly incorporating thermal, hyperspectral, and multispectral sensors for improved functionality. With the ongoing price decrease in sensors, the market is poised to witness an influx of affordable drones, catering to both hobbyist and price-sensitive consumers. Despite the emergence of budget options, the hobbyist segment continues to favor high-end drones with commercial-grade features. Vendors are strategically introducing cost-effective drones under USD50 to expand their customer base.

Browse market data tables, figures, and in-depth TOC on “Consumer Drones Market” by Product (Multirotor, Fixed wing, Single rotor) Distribution Channel (Offline, Online) Geography (North America, APAC, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Product, the Multirotor segment is projected to dominate the market size in 2024

In the consumer drones market, offline stores serve as the primary distribution channel, generating a significant portion of revenue. Specialty stores, including multi-branded and brand-specific outlets, are the highest revenue generators within this segment. These stores offer increased visibility and a broad product range, making them an attractive option for both end-users and market participants. Prominent players in the global consumer drones industry strategically sell their products through these specialty stores, ensuring a convenient retail experience for consumers.

By Distribution Channel, Offline  segment is expected to hold the largest market size for the year 2024

In the consumer drone market, multirotor drones represent the most widely adopted choice for hobbyists and industry professionals. These drones offer versatile applications, including aerial photography, video surveillance, and surveying. Multirotor drones are a cost-effective and accessible solution for lifting small cameras aloft for brief periods. With their advanced control features, multirotor drones enable users to precisely position and frame their shots, resulting in superior aerial imagery. Multirotor drones are manufactured in various configurations, with the number of rotors determining their classification. Tricopters, quadcopters, hexacopters, and octocopters are common multirotor drone types, each offering unique benefits in terms of stability, payload capacity, and flight time. Regardless of the specific configuration, multirotor drones offer unparalleled agility and maneuverability, making them indispensable tools in numerous industries.

North America is forecasted to hold the largest market size by region in 2024

The Consumer Drone Market represents a significant growth opportunity for businesses, with increasing demand driven by advancements in technology and affordability. These unmanned aerial vehicles (UAVs) offer various applications, including photography, agriculture, and delivery services, making them a valuable investment for numerous industries. Market size is projected to expand at a robust CAGR, driven by consumer preferences for enhanced functionality and convenience. Companies focusing on innovation and cost-effectiveness will likely capture a larger market share.

The Consumer Drones Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • 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
  • Yuneec International Co. Ltd.
.

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Research Analysis Overview

The consumer drone market has witnessed significant revenue growth in recent years, driven by the increasing popularity of drones for recreational purposes and aerial photography. Scenario-based analysis suggests that this trend will continue, with adjacent markets such as photogrammetry, drone racing, and law enforcement providing new opportunities for growth. Consumption patterns indicate that hobbyists and enthusiasts are the primary consumers of toy/hobbyist drones, while hybrid type drones and fixed wing drones are favored by professionals and businesses. Technological modifications, such as novel electronics technology and nano drones, are also driving innovation in the market. However, the consumer drone market faces challenges, including the risk of mishaps and privacy concerns. Start-up businesses are entering the market with innovative consumer drone products and applications, adding to the competition. Hybrid drones, which combine the features of both multirotor and fixed-wing drones, are gaining popularity due to their versatility. In conclusion, the consumer drone market is expected to continue its revenue growth trajectory, driven by recreational purposes, aerial photography, and adjacent markets. However, it is essential to address the challenges of safety and privacy to ensure the sustainable growth of the industry.

Market Research Overview

The consumer drone market is a dynamic and evolving industry, encompassing a range of products from High End Drones with innovative features and advanced technology, to Entry Level Drones, Selfie Drones, and Toy Drones for recreational purposes. High Initial Costs and Limited Battery Life are challenges for the High End Drones, while Safety Concerns and Regulatory Environment are common issues across the market. Technological breakthroughs, such as Integrated gas systems and Novel electronics technology, are driving revenue growth in the industry. Scenario-based analysis reveals that Camera Drones, Drone Racing, and Aerial Photography are key consumer drone applications, catering to enthusiasts and hobbyists. The regulatory environment and risk of mishaps pose challenges, but start-up businesses and Nano drones are emerging in the adjacent market. Hybrid drones, Fixed wing drones, and Law enforcement applications are also gaining traction. Consumption and production patterns indicate a shift towards more advanced speed technologies and Navigation technologies. However, Privacy concerns and the Risk of mishaps remain significant challenges. Industry interviews reveal a focus on Technological modifications and the development of Hybrid type drones. The future of the consumer drone market looks promising, with continued innovation and growth expected.

Contacts

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

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