Consumer Drone Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, China, India, Japan, Malaysia, Thailand, Indonesia, Australia, Brazil, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
Report ID: GMI1590
Consumer Drone Market size is anticipated to witness growth during the forecast timeframe, owing to growing importance of drones-as-a-service and increasing use of unmanned aerial vehicles (UAV) to execute high-risk tasks. Technological advancements, such as geo-fencing and collision avoidance, that make drones flying safer, is expected to fuel consumer drone market growth.
The UAVs are of prime importance in military applications and battlefields. UAVs have gradually transitioned from being expensive technology and solely used in military applications to an easily accessible commodity, with variety of applications in commercial space. Reduced capital costs and improved maneuverability make drones an ideal alternative to legacy manned aircraft and humans. Low cost and wide range of applications such as aerial surveying, film/video making, mapping, surveillance, and environmental monitoring are anticipated to drive consumer drone market growth.
Rising eminence of drone flying as hobby such as UAV racing and photography is expected to fuel consumer drone market growth over the future. New technology in electronics has attracted gaming enthusiasts to accept drones as new-found entertainment source along with organizing competitions. In addition, administrative support to permit drone flying for non-commercial purposes is expected to stimulate consumer drone market size.
Consumer UAVs are expected to gain prominence, owing to their ability for dynamic design concept and high-resolution video & image capturing. Midair photography aficionados are increasingly accepting drones in complimenting their hobby of capturing dynamic videos and images. Introduction of advanced gimbal systems and high-resolution HD 4K cameras are predicted to boost consumer drone market adoption in nature exploration and photography.
Surge in consumer drone market demand has resulted in creation of new government regulations to balance safety and innovation. Increasing government spending on advanced UAVs and upcoming favorable initiatives by European Aviation Safety Agency (EASA) and Federal Aviation Administration (FAA) is expected to drive consumer drone market growth.
Development of drones with hydrogen fuel cells, that conserve energy is an emerging trend in the market. This is expected to ensure longer flight hours. Enhanced flight capabilities and dynamic concept design of UAVs is expected to revolutionize electronics and gaming markets.
Factors such as smaller flight time due to short battery life and registration obligations, to regulate official drone registration certificate issuance are anticipated to restrain consumer drone market growth during the forecast period. Commercial and civilian drone face risk of liabilities regarding drone use in crowded spaces. Skilled drone operator shortage, privacy & safety concerns, and lack of adequate evidence supporting capabilities of drones is expected to restrain consumer drone market growth during forecast period. Maintenance and repair complexities and privacy concerns are expected to challenge market growth.
Consumer drone market is segmented on the basis of type of products and applications. Based on type of product, consumer drones are classified as nano, multi-rotor, hybrid, and fixed-wing. Multi-rotor drones are expected to dominate market during forecast period, due to increasing use in FPV racing and aerial photography. Nano drones are anticipated to witness significant growth, owing to their cost-effective operations. Fixed-wing type is increasingly used in FPV racing. Their simple design with fixed wing across the top improves flight and speed distance. These are being deployed for coverage of large areas, such as mapping and aerial surveillance. Hybrid drones operating on solar power are used in various applications such as surveillance and mapping.
Based on applications, consumer drone market is segmented as toy/hobbyist, prosumer, and photogrammetry. Prosumer is expected to dominate the applications segment during period under study. Demand for drones in photogrammetry application segment is projected to increase significantly. Small low elevation drones offer advantage over aerial technology for photogrammetry. The consumer drone market is expected to gain momentum in hobby applications, particularly sports. DR1 Racing and Mountain Dew organized drone race in August 2016. The event used 12 of the world's top drone-racing pilots.
Asia Pacific consumer drone market is anticipated to witness substantial growth, owing to investment initiatives in China drone companies by U.S. investors. Additionally, strategies to build UAV production base in China to tap into developing industry is expected to surge industry growth.
Some of the key consumer drone market players include Parrot, Yuneec Electric Aviation, DJI Innovations, 3D Robotics, Cheerson, Walkera, SkyTech, Boeing / Insitu, Hubsan, Northrop Grumman AeroVironment, Syms Toys, WL Toys, and Blade/Horizon Hobby. These players focus on new product development to integrate with technologies such as artificial intelligence and advanced positioning systems to make drones more powerful. For instance, renovation of consumer UAVs into flying smart devices platforms. These developments in the market are expected to increase product value, retain consumers' interest longer, and expand product lifespan.
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