Global Racing Drone Market Share Anticipated to Grow USD 5,292.79 Million By 2032, With 20.9% CAGR: Polaris Market Research
Polaris Market Research has conducted a comprehensive 2023 research study spanning over [+115] pages, revealing that the global racing drone market was valued at USD 797.91 Million in 2022. The study predicts that the market will grow at a compound annual growth rate (CAGR) of 20.9% and is expected to reach USD 5,292.79 Million by 2032. RTF segment accounted for the largest revenue share in the market and expected to continue its dominance over the forecast period. Some of the top market players are Airjugar Technology Co. Ltd., Autel Robotics, DJI, eachine, Guangzhou Walkera Technology CO. LTD, Hubsan, ImmersionRC Limited and mjxrc.net
New York, NY, March 31, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Racing Drone Market Share, Size, Trends, Industry Analysis Report, By Drone Type (RTF, BNF, ATF); By Component Type; By Application (Rotor Cross, Drag Racing, Time Trial); By Region; Segment Forecast, 2023 - 2032” in its research database.
“According to the latest research analysis, the global racing drone market size/share is anticipated to be valued at approximately USD 797.91 Million in 2022 and is projected to hit a revenue of around USD 5,292.79 Million By 2032, at a CAGR of around 20.9% between 2023 and 2032.”
What is Racing Drones? How Big is Racing Drone Market Size & Share?
Overview
Drone racing, or first-person view, is a sport where competitors control drones while wearing a head-mounted display connected to the camera. The objective is to complete a course as quickly as possible, similar to full-size air racing. These drones are compact and lightweight crafts capable of achieving speeds of over 100mph. It is rapidly gaining popularity on a global scale. The remote control, drone, and goggles are all connected via radio in order to enable efficient control.
However, drones must comply with a standard set by competitive FPV racing organizations. In Karlsruhe, a group of novice pilots organized the first drone races in Germany in 2011. The growing popularity of drone racing is majorly driving the racing drone market. Another factor propelling the demand & awareness for such racing events across various regions is the government of many nations permitting them to go aboard for sporting events.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report Covers:
2032 Updated Report Introduction, Overview, and In-depth industry analysis.
115+ Pages Research Report (Inclusion of Updated Research).
Provide Chapter-wise guidance on Requests.
2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
Includes Updated List of tables & figures.
Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Racing Drone Market Report Highlights
RTF segment accounted for the largest revenue share in the market and is expected to continue its dominance over the forecast period. Because RTF type of drones are popular with beginners and also these drones are equipped with high-performance motors and controllers.
Airframe segment is accounted for as the dominant segment in the market, it’s the frame that holds all the components together and is responsible for the drone’s performance, stability, and maneuverability.
Rotor cross segment dominated the market and is expected to continue its dominance during the forecast period, raising the events in rotor cross racings also competitors are developing new products and improving their products.
North America dominated the market in 2022 and is likely to continue the dominance in the market, due to North America is home to new startups in the drone industry also in United State also hosts some racing events and attractions for the media and entertainment industry.
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Some of the Top Market Players Are:
Airjugar Technology Co. Ltd.
Autel Robotics
DJI
eachine
Guangzhou Walkera Technology CO. LTD
Hubsan
ImmersionRC Limited
mjxrc.net
Parrot Drones SAS
RotorX
Spin Master (Air Hogs)
Skyrocket LLC (Sky Viper)
UVify Inc.
3D Robotics
SkyTech
Lumenier
GoPro
Storm
Gemo Copter
TBS
YUNEEC
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Market Dynamics: Key Growth Driving Factors
The launch of high-speed drones to accelerate the market growth
Increase in demand for high-speed racing drones in different drone leagues such as drone racing league, Multi GPU, and world drone prix is fueling the racing drone market demand growth. Rising adoption of racing drones across the globe, the launch of high-speed drones, rising production, and the increasing number of racing events are some of the prominent racing drone market trends boosting the growth of the industry. Further, a surge in investment in research and development of flying technologies coupled with growing knowledge of lowering damaging environmental releases from sports vehicles are supporting the industry expansion. The rising popularity of drone racing has fueled demand for racing drones and associated accessories like FPV goggles and controllers.
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Recent Trends Influencing the Market
Increasing applications of drones fuel the market demand
Rising developments in drone technology production of high-performance racing drones, which are capable of achieving faster speeds and more precise maneuvers, are positively influencing the growth of the racing drone market sales.
A surge in the adoption of drones for commercial uses such as aerial photography, inspection, and search and rescue operations is contributing to the market growth. Such applications now require high-performance racing drones with cutting-edge capabilities, which has raised the demand for these drones.
Segmental Analysis
RTF segment has dominated the market
Based on drone type, the RTF category held the largest racing drone market share because the "RTF" or "Ready-To-Fly" drone type is popular among experts and learners. RTF drones are fully assembled and ready to launch when you open the package. They usually contain high-performance motors and controllers, making them the best option for gymnastics and racing maneuvers. Different RTF racing drones have various features, functionalities, and price ranges. Factors such as the drone's size and weight, the video transmission and camera resolution, and the component durability need to consider when choosing an RTF racing drone
Airframe segment accounted for the greatest revenue share
By component type racing drone market segmentation, the airframe captured the major market share and is expected to maintain its dominance over the predicted period. The physical framework of the drone that connects all of its parts is referred to as the airframe section. Airframe is an important component of racing drones as it has a significant effect on the drone's performance, stability, and maneuverability.
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Racing Drone Market: Report Scope
Report Attribute | Details |
Revenue forecast in 2032 | USD 5,292.79 Million |
Market size value in 2023 | USD 959.81 Million |
Expected CAGR Growth | 20.9% from 2023 – 2032 |
Base Year | 2022 |
Forecast Year | 2023 – 2032 |
Top Market Players | Airjugar Technology Co. Ltd., Autel Robotics, DJI, eachine, Guangzhou Walkera Technology CO. LTD, Hubsan, ImmersionRC Limited, mjxrc.net, Parrot Drones SAS, RotorX, Spin Master (Air Hogs), Skyrocket LLC (Sky Viper), UVify Inc., 3D Robotics, SkyTech, Lumenier, GoPro, Storm, Gemo Copter, TBS and YUNEEC. |
Segments Covered | By Drone Type, By Component Type, By Application, By Region |
Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographic Overview
North America held the highest revenue share in 2022
On a geography basis, the racing drone market in North America is the most dominating region and is likely to continue to dominate the market throughout the projected period. There are many creative startups in North America that are continually pushing the limits of drone performance and technology. Major companies are concentrating on creating faster, more agile, and more customizable drones that can fulfill the requirements of racing enthusiasts. Events such as the Drone Racing League (DRL) are conducted by several high-profile drone racing companies.
Browse the Detail Report “Racing Drone Market Share, Size, Trends, Industry Analysis Report, By Drone Type (RTF, BNF, ATF); By Component Type; By Application (Rotor Cross, Drag Racing, Time Trial); By Region; Segment Forecast, 2023 - 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/racing-drone-market
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Recent Developments
In July 2022, Microsoft recently unveiled a brand-new model for drone AI training. Before implementing their algorithms in real-world applications, AI developers can try and improve them in a secure environment with the help of the simulator, Microsoft AirSim.
Polaris Market Research has segmented the Racing Drone market report based on drone type, component type, application, and region:
By Drone Type Outlook
RTF
BNF
ATF
By Component Type Outlook
Airframe
Motors
Camera/Sensors
Propellers
Battery
Flight Controller
Others
By Application Outlook
Rotor Cross
Drag Racing
Time Trial
By Region Outlook
North America (U.S., Canada)
Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
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