U.S. Markets closed

The popularity of drones is about to soar to new heights

A Pininfarina-designed Sky Rider Drone

Economies of scale and better manufacturing processes are about to push drones into the mainstream consumer space.

According to a new Tractica report, consumer drone sales are expected to increase tenfold by the end of the decade. In 2015, some 6.4 million devices shipped and this is forecast to climb to a remarkable 67.9 million drones annually by 2021.

Prices are also expected to fall year-on-year over the next several years, thanks to increased demand and better approaches to manufacturing and the economies of scale that come from growing popularity.

"The consumer drone market continues to grow at a rapid pace," says research analyst Manoj Sahi. "A number of prominent companies are investing in consumer-grade drone technology, and the hardware and software capabilities of drone products are becoming more robust over time, enabling new applications for consumers."