The Consumer Drones market is witnessing geometric progression and will continue to do so in the years to come. This could be reasoned with the ever-increasing use of these drones to serve recreational and commercial purposes. Drone-acquired data is being used by companies for accelerating the service deliveries. Wedding photography’s and videos call for drones as better control could be exercised. The consumer drones in demand include multi-copters and tiltrotors. Plus, innovative technologies like collision aversion and geo-fencing are making drones safer to operate. These factors are expected to scintillate the consumer drones market in the forthcoming period.
Consumer Drones Market: What’s happening?
Aerial photography is gaining immense popularity, which is one of the key drivers (as stated above). Those passionate about photography are into capturing photographs and videos from bird eye-view. This effort otherwise needs high-end video cranes. The US FAA (Federal Aviation Administration), the small hobbyist drones would cross 3 Mn by the year 2021. However, this figure seems to be bleak amidst the outbreak of Covid-19, as simple indoor weddings have replaced big fat outdoor weddings. Healthcare experts say that the year 2020 will be a slowed down one on this count, with 2021 picking up pace.
These days, hybrid drones are the talk of the consumer drones market. They do function on renewable energy sources. They are expected to elevate the consumer drones market going forward. The ones running on “solar power” do find applications in mapping and surveillance. The US is specifically investing in extensive research pertaining to hypersonic drones due to the speed involved.
Several regulations and rules are coming to the fore in this regard. The same FAA is expected to release regulations to propel adoption of Unmanned Aerial Vehicle (UAV) in this region.
Nano drones are also expected to witness tremendous sales between 2020 and 2030. They could hold more than 30% of market share from 2020 to 2030.
Challenges to the Consumer Drones Market
Consumer drones tend to have a short and limited battery life. This is likely to adversely affect the performance. In addition, the complexities related to repairing and maintenance could act as an impedance to the market. Also, inappropriate infrastructure coupled with safety and privacy issues in the developing and under-developed regions is posing as a challenge.
Overall Impact of Covid-19
The ongoing pandemic has resulted in disruption of manufacturing and logistics in several sectors. The e-Commerce companies have stopped supplying non-essential items, which is negatively impacting the entire consumer drones market. The normalcy is expected to restore by the start of the year 2021.
How about the “Application” Perspective?
Drone racing is coming across as one of the recreational hobbies, which is expected to lead to the increasing adoption of consumer drones in the near future. DIY develop drones that incorporate customized UAV fabrication are projected to give an impetus to the market in select regions like Europe and North America. The gaming enthusiasts are looking to accept the newly found sources of entertainment. Low altitude small drones overpower incumbent aerial technology to address photogrammetry application.
North America holds the largest market share and the scenario is expected to persist in the upcoming period. Europe comes in second, with market share of more than 30% between 2020 and 2030. The drones are integrated into European Civil Airspace. Asia-Pacific is expected to witness the fastest growth rate due to massive investment in drone companies by the investors. The UAV production base is being set up in China, which will accelerate the market in Asia-Pacific further.
The key players in the consumer drones market include Parrot, Yuneec Electric Aviation, DJI Innovations, Blade/Horizon Hobby, Eachine, Cheerson, JJRC, Hubsan, Syms Toys, WL Toys, Walkera, and SkyTech. These players are emphasizing on development of products for integrating advanced positioning systems, context, and artificial intelligence.
For instance –
- In Oct 2019, Skydio did launch R1 drone that does utilize ML for maneuvering itself in the mid-air apart from following the target.
- In Mar 2018, Hubsan launched a new-fangled signature drone product H501A+ for enabling drone pilots fly with either 2.4G or Wi—Fi with HD quality camera and 20-minute flight time.
- In May 2017, DJI has launched “Spark” – one of the portable mini drones incorporating loads of smart features like face tracking technology for capturing remarkable videos with minimal effort.
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