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Consumer Drone Market Size

Report ID: GMI1590
Published Date: Mar 2018
Report Format: PDF

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Consumer Drone Market Size

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.

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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.

Consumer Drone Market Report Attributes
Report Attribute	Details
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:	Rising awareness and availability of the drones Advancement in drone technology High resolution video & image capturing Administrative support & initiatives Increasing investment activities in China & other developing economies
Pitfalls & Challenges:	Shortage of battery life & stringent government regulations Privacy and safety issues

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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.

Authors: Preeti Wadhwani, Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of consumer drone surpassed USD 1.5 billion in 2016.

The industry share of consumer drone is anticipated to grow at 18% CAGR between 2017 to 2024.

Rotary blade drones offer vertical take-off and landing ability, along with heavy payload capacity and longer flight time. They are also easier to control as compared to fixed-wing or hybrid drones.

A growing number of people ready to spend on drones for videography and other recreational activities in tandem with emerging regulatory guidelines and support for UAV use will drive consumer drone adoption among hobbyists.

The incorporation of artificial intelligence (AI) and machine learning abilities has facilitated autonomous drones which can be used to gather real-time environmental and location data, with minimum control even when GPS is not active.

European countries are proactive in adopting advanced technologies and are easing regulations for public use of drones, enabling significant testing of consumer UAV’s for various applications.