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Consumer Drone Market size estimated at over 2 million units with an industry value of more than USD 1.5 billion in 2016 and is anticipated to grow at around 18% CAGR from 2017 to 2024.
The consumer drone market share is expected to increase significantly due to the rising usage of these drones for recreational and commercial purposes. Enterprises are using drone-acquired data in their business operations to speed up the delivery of their services. Advancements in-flight technology and controls along with innovations in portable photography & video technology have accelerated the demand for drones including helicopters, multi-copters, and tiltrotors.
Report Attribute | Details |
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Base Year: | 2016 |
Consumer Drone Market Size in 2016: | 1.5 Billion (USD) |
Forecast Period: | 2017 to 2024 |
Forecast Period 2017 to 2024 CAGR: | 18% |
2024 Value Projection: | 9 Billion (USD) |
Historical Data for: | 2013 to 2016 |
No. of Pages: | 350 |
Tables, Charts & Figures: | 266 |
Segments covered: | Product, Technology, Application and Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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The government agencies globally are laying groundwork for new consumer drones’ regulations to guide operations under certain circumstances. For instance, the Canadian government has set regulations regarding the use of UAVs, which require testing & certification under two classes of drone operations, basic and advanced. The basic drone operations cover hobbyists and commercial flights while advanced operations include licensed operators, who can fly in controlled airspace.
The demand for rotary blade drones will rise sharply over the forecast timeline due to their ability to take off and land vertically. These drones have long-lasting flight time & heavy payload capacity and are easy to control, making them popular among other types of drones including fixed-wing and hybrid drones. The rotary blade drone market will observe a profound growth rate as they are heavily used for aerial photography, surveillance, leisure, and filmmaking.
The autonomous consumer drone market will grow at a CAGR of over 20% between 2017 and 2024 as they are widely used for harnessing data in real-time from mountainous terrains, unmapped environments, and turbulent conditions. The use of machine learning and AI algorithms allows these drones to fly intelligently, reaching at locations when GPS is not available. The efficiency of the autonomous drone is dictated by the low-level control enabling them to operate independently based on high-level inputs. Various drone manufacturers are leveraging the power of AI to introduce the next-generation autonomous drones to cater to the customers’ needs.
The hobbyists application segment will hold a market share of above 45% by 2024 due to the increase in the number of people willing to fly drones for recreational purposes including photography, entertainment, and videography to capture delightful experiences This rise in the use of drones as toys for recreational applications has driven the consumer drone industry. The regulatory authorities are implementing rules for hobbyist drones to guide their operations. For instance, the Federal Aviation Administration (FAA) has given recreational drone pilots access to the Low Altitude Authorization and Notification Capability (LAANC) system. This enables pilots to get instant permission from the agency to fly drones in controlled airspace.
The Europe consumer drone market is projected to hold a market share of over 10% by 2024 due to EU’s capability and decision making in unleashing advanced technology in experimenting and testing the potential uses of drones. The countries in the region are expected to ease out rules & regulations of civilian drones and showcase a flexible approach in capitalizing on drone technology to its optimum. In the region, the UK had a major market share in 2016 and is expected to maintain its share by 2024 due to huge development and testing of recreational applications for entertainment & accessibility purposes. In 2016, the country with the authorization of the Civil Aviation Authority (CAA), relaxed some of its rules & regulations concerned with applications of the UK drones for trials after requests from Amazon to test its Prime Air delivery services.
The market comprises various established drone manufacturers including :
DJI, Yuneec, 3DR, Parrot, and GoPro and emerging startups that focus on product innovations to sustain in the market. Some drone manufacturers are developing innovative drones in collaboration with other players. In November 2017, DJI partnered with Kittyhawk and received a suite of advanced features for the DJI hardware such as real-time drone telemetry with audio & video streams.
The major players of the consumer drone market are:
In the past few years, the consumer drone industry has grown sharply due to the rising usage of drones for recreational purposes. These drones are produced for recreational purposes and for consumers to use in places such as beaches and parks for entertainment. With the rise in the implementation of AI technology to drones, the demand for autonomous consumer drones has increased, allowing remote control operations without being dependent on the operator. The companies present in the market are extending the limits of drones ranging from extended battery life to enhanced stability and GPS localization.