Home >> News >> Business >> Consumer Drones Market is estimated to reach US$ 11,290.6 Mn in 2026 growing at a CAGR of 20.9% during the forecast period from 2018 to 2026

Consumer Drones Market is estimated to reach US$ 11,290.6 Mn in 2026 growing at a CAGR of 20.9% during the forecast period from 2018 to 2026

The purpose of the report is to illustrate the state of the market of Consumer Drones, to present actual information about the volumes of production, exports, imports, consumption and the state of the market, the changes that took place in 2017, and also, to build a forecast for the growth of the industry in the medium term until 2026.

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Market Insights

The use of drones has moved beyond its traditional application area which was earlier limited to the defense sector. The consumer drones market in this regards was among the first non-defense application area to have developed. The demand for consumer drones has taken off in the last couple of years and hobbyist drones have become a common sight. However, still there is plenty of room for the market growth.

One of the most prominent factors aiding the consumer drones market growth is the fact that these drones are widely adopted by photography enthusiasts. The application of drones for the purpose of photography has been one of the most exciting developments in the area of photography in the last two years. Moreover, the fact that the cost of drones has reduced significantly has further helped the market to flourish. However, the flying characteristics and the quality of camera on-board greatly depends on the price tag associated with the drone. In addition, ease of operation is another prominent factor aiding the consumer drones market growth. For instance, “Fly Straight Out of the Box” is a popular term in use in the world of drones which highlights the ease with which a drone can be flown. These factors in combination are expected to drive the consumer drones market growth in the years to come.

However, the existence of certain rules and regulations associated with flying a drone acts as a restraining factor for the market growth. Some of the common rules and regulations include limiting the maximum height, not flying over groups of people and restrictions over flying near airports, etc. Lack of proper training to fly a drone is another factor impacting the market growth negatively. As drones are often expensive, therefore proper training is required to fly a drone.

With technological advancements, manufacturers of consumer drones are developing drones with increased weight carrying capacity and with enhanced controls. Some other technological developments witnessed in the consumer drones market include; developing drones with extensive camera controls in order to facilitate RAW capture, auto or full manual control and time-lapse, drone hovering in one spot with incredible stability and with RTH mode (automatic return-to-home) among others.

Some of the major players operating in the market include 3D Robotics, Inc., SZ DJI Technology Co., Ltd., Autel Robotics, EHang, Inc., Parrot Drones SAS, Yuneec International Co. Ltd., Hobbico, Inc., Guangdong Cheerson Hobby Technology Co.,Ltd, Horizon Hobby, LLC and Mota Group, Inc. among others.

Why was the report written?

This report is the result of an extensive survey drawn from Credence Research’s exclusive panel of leading global market industry executives; it provides data and analysis on buyer investment, acquisition, and developments within the global market research. It includes key topics such as global Consumer Drones buyer expenditure and procurement behaviors and strategies and recognizes the threats and possibilities within the industry, economic outlook trends, and business confidence within global industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives’ attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, Credence Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value chain of the global industry.

What is the current market landscape and what is changing?

Executives from the global industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (M&A) activities in 2017.

The report on the market of Consumer Drones contains:

Analysis and forecast of Consumer Drones market dynamics;

Analysis of domestic production, market shares of the main market players;

Analysis of exports and imports;

Analysis of factors, leading the development of the Consumer Drones market;

Assessment and forecast of Consumer Drones market development;

Financial and business profiles of the leading companies in the Consumer Drones industry.

Scope

– Up to date working Consumer Drones data by major regions in the world, the forecast of planned capacity additions by 2026

– The annual breakdown of capital expenditure spending on proposed Consumer Drones for the period 2018 to 2026

– Planned Consumer Drones additions and capital expenditure spending by key countries and companies across the world

– Planned capital expenditure spending on new Consumer Drones projects by region, key countries, and companies

– Details of major planned Consumer Drones projects in the world up to 2026

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