Dublin, June 22, 2021 (GLOBE NEWSWIRE) -- The "Consumer Drones Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering.
The global consumer drones market is expected to grow from $2.09 billion in 2020 to $2.34 billion in 2021 at a compound annual growth rate (CAGR) of 12%.
This report focuses on the consumer drones market which is experiencing strong growth. The report gives a guide to the consumer drones market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
Major players in the consumer drones market are 3D Robotics, Cheerson, Parrot S.A, DJI, Yuneec, EHang, Airdog, GoPro and Guangdong Cheerson Hobby Technology.
The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
The market is expected to reach $3.26 billion in 2025 at a CAGR of 9%.
The consumer (recreational) drones market consists of sales of consumer (recreational) drones and related services. These drones are unmanned aerial vehicles used for purposes of entertainment and have simple-to-use controls targeted at general public use rather than for commercial purposes.
The rising popularity of aerial photography is driving the consumer (recreational) drones market. Photography enthusiasts are increasingly using drones to capture photographs and videos from a birds-eye view, which would otherwise require high-end video cranes. This increase in popularity has led consumers to purchase hobbyist drones and use them for photography purposes, driving market growth. According to the United States Federal Aviation Administration, there were 1.1 million small hobbyist drones in 2016 and this is expected to triple in number to reach 3.5 million by 2021.
The slowdown in use of commercial drones for outdoor activities, and unavailability of the workforce to carry out necessary operations owing to the COVID-19 outbreak is projected to limit the growth of the consumer drones industry. According to the World Health Organization, coronavirus is spread in 214 countries worldwide disrupting the manufacturing and logistics across various industries. Various e-commerce companies have discontinued the supply of non-essential items affecting the consumer drones industry along with other electronic supplies. Many countries have announced lockdowns, prohibiting inessential movement of their citizens out of their houses.
Moreover, the shutdowns of major brand stores, hypermarkets and supermarkets have resulted in a decline in the sales through offline channels. According to Bisinfotech magazine published in March 2020, COVID-19 outbreak has affected the bilateral trade worth $87 billion, with 163 fortune 1000 companies around the globe having one or more direct (tier-1) suppliers impacted and at least five million companies have one or more tier-2 suppliers affected by the outbreak.
Therefore, the slowdown in use of commercial drones for outdoor activities alongside negative impact on production activities, logistics and unavailability of the workforce during coronavirus outbreak is expected to act as a major restraint for the growth of the consumer drones market in the near future.
The consumer drones market covered in this report is segmented by type into fixed wing drone; rotary blade drone; hybrid drone. It is also segmented by technology into remotely operated drone; semi-autonomous drone; autonomous drone and by application into hobbyist & gaming; aerial photography; others.
Drone manufacturers are increasingly using artificial intelligence to enable automation of consumer drones. Consumer drones that fly beyond the controller's range and line-of-sight are being equipped with self-navigating technology through the integration of deep-learning algorithms and other machine learning methods. Drones are usually controlled using a wireless remote controller.
However, with artificial intelligence, flight instructions can be programmed within the drone itself. Using variables such as target location, engine rotor speed, height, air-speed velocity and other environmental factors, the drone can learn how to fly by itself and make self-corrections whenever necessary. For example, Skydio has created a drone called the R1, which uses machine learning to maneuver itself in mid-air and follow a person (target) wherever they go.
In January 2020, Red Cat Holdings Inc. announced the acquisition of Rotor Riot for an undisclosed amount. This acquisition is expected to combine resources and expertise to facilitate growth for both the companies in order to expand the consumer base for FPV drones. The companies also aim at developing and providing new and exciting technologies for drones for hobby, lifestyle and commercial industry. Rotor Riot is a provider of FPV freestyle drone content and products for sport and hobby.
Key Topics Covered:
1. Executive Summary
2. Consumer (Recreational) Drones Market Characteristics
3. Consumer (Recreational) Drones Market Trends and Strategies
4. Impact of COVID-19 on Consumer (Recreational) Drones
5. Consumer (Recreational) Drones Market Size and Growth
5.1. Global Consumer (Recreational) Drones Historic Market, 2015-2020, $ Billion
5.2. Global Consumer (Recreational) Drones Forecast Market, 2020-2025F, 2030F, $ Billion
6. Consumer (Recreational) Drones Market Segmentation
6.1. Global Consumer (Recreational) Drones Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Fixed Wing Drone
Rotary Blade Drone
6.2. Global Consumer (Recreational) Drones Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Remotely Operated Drone
6.3. Global Consumer (Recreational) Drones Market, Segmentation By Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Hobbyist & Gaming
7. Consumer (Recreational) Drones Market Regional and Country Analysis
7.1. Global Consumer (Recreational) Drones Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Consumer (Recreational) Drones Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Guangdong Cheerson Hobby Technology
Shenzhen Hubsan Technology
Guangdong Syma Model Aircraft Industrial
For more information about this report visit https://www.researchandmarkets.com/r/24t9cd
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