The global consumer drone market size is expected to reach USD 4.19
billion by 2024, according to a new report by Grand View Research, Inc. The
substantial growth prospects of the market can be attributed to surging
eminence of drone flying as hobby initiatives such as UAV photography and
racing. Administrative support through permitting drone flying for
non-commercial purposes in select geographies is stimulating the growth of
global consumer drone market.
Consumer UAVs have gained prominence owing to
their ability of high-resolution image and video capturing, dynamic novel
design concept, as well as adequate operational intervals. Upcoming favorable
initiatives by regulatory bodies, such as Federal Aviation Authority (FAA) and
European Aviation Safety Agency (EASA), and increasing governmental spending on
such advanced UAVs are anticipated to drive the industry growth over the
forecast period.
An emerging trend in the industry is the development
of drones with hydrogen fuel cells that in the back end conserve energy and
supply power to UAVs, thereby enabling longer flight hours. Furthermore,
dynamic concept design and enhanced flight capability of UAVs have
revolutionized the gaming, electronics, and associated hobby markets.
Aerial photography enthusiasts are profoundly
accepting drones in complimenting their hobby of exploring and capturing
dynamic images and videos. The introduction of high-resolution HD 4K cameras
and advanced Gimbal systems by manufacturers are presumed to boost the adoption
of UAVs in photography and nature exploration.
However, smaller flight time due to shorter
battery life of drones, as well as registration obligations, to regulate the
issuance of official drone registration certificate in select geographies are
anticipated to challenge the industry growth over the forecast period.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/consumer-drone-market
North America consumer drone market by technology, 2012-2022, (USD Million)
·
Multi-rotor drones dominated the overall market,
both in terms of revenue and volume. They accounted for over 85% of the overall
volume share in 2015 and are poised to witness significant growth over the next
eight years. Multi-rotor drones are increasingly used in racing and photography
applications. The ability to perform under extreme conditions and development
of various innovative applications are the primary factors driving the
increased adoption of multi-rotor drones.
·
Nano drones are anticipated to witness
significant growth over the forecast period, growing at a CAGR of over 30% from
2016 to 2024. The growth in demand for nano drones can be attributed to their
portability and efficient application in photography and security applications.
These small-sized drones incorporate a low cost of maintenance, operation, and
production. Manufacturers are increasingly integrating nano drones with
gimbaled sensors to provide effective controlling and extend its application
base.
·
Projected to grow at an estimated CAGR of close
to 30%, from 2016 to 2024, prosumer application segment dominated the overall
market share, both in terms of volume and revenue in 2015. Rapid increase in
aerial photography can be attributed to the growth of photography as a hobby
and aligned technologies. Moreover, FPV racing is being increasingly promoted
as a recreational hobby in some regions owing to rising adoption of UAVs in the
gaming segment.
·
Drones’ demand in toy/hobbyist application was
estimated to be over 270 thousand units in 2015 and is presumed to witness
substantial growth in the near future. It is envisioned to surpass prosumer
application segment in terms of volume by 2018. The growth in this segment can
be attributed to increasing adoption of drone flying as a hobby initiative and
customized UAV fabrication.
·
Asia Pacific is anticipated to witness
considerable growth over the next eight years, growing at a CAGR of close to
35% from 2016 to 2024. The region incorporates substantial growth potential
owing to the increasing development of innovative technology solutions for
drones and aiming to manufacture them at a lower cost. Increasing investments
by Japan and China for the development of multifunctional drones for various
applications is expected to drive the regional industry growth in the recent
future.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the global consumer drone market on the basis of product, application, and region.
Consumer Drone Product Outlook (Volume, Thousand Units; Revenue, USD Billion 2013 – 2024)
·
Multi-rotor
·
Nano
·
Others (Fixed-wing, hybrid)
Consumer Drone Application Outlook (Volume, Thousand Units; Revenue,
USD Billion 2013 – 2024)
·
Prosumer
·
Toy/Hobbyist
·
Photogrammetry
Consumer Drone Regional Outlook (Volume, Thousand Units; Revenue,
USD Billion 2013 – 2024)
·
North America
·
U.S.
·
Canada
·
Europe
·
Germany
·
UK
·
Asia Pacific
·
China
·
Japan
·
Latin America
·
MEA
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