According to a new market research report published by Credence Research "Consumer Drones Market(Product Type - Fixed Wing Drone, Rotary Blade Drone and Hybrid Drone; Technology - Remotely Operated Drone, Semi-autonomous Drone and Autonomous Drone; Application - Hobbyist & Gaming and Aerial Photography) - Growth, Future Prospects and Competitive Analysis, 2018 - 2026", the global consumer drones market is estimated to reach US$ 11,290.6 Mn in 2026 growing at a CAGR of 20.9% during the forecast period from 2018 to 2026.
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The use of drones has moved beyond its traditional application area which was earlier limited to the defense sector. The consumer drones market in this regards was among the first non-defense application area to have developed. The demand for consumer drones has taken off in the last couple of years and hobbyist drones have become a common sight. However, still there is plenty of room for the market growth.
One of the most prominent factors aiding the consumer drones market growth is the fact that these drones are widely adopted by photography enthusiasts. The application of drones for the purpose of photography has been one of the most exciting developments in the area of photography in the last two years. Moreover, the fact that the cost of drones has reduced significantly has further helped the market to flourish. However, the flying characteristics and the quality of camera on-board greatly depends on the price tag associated with the drone. In addition, ease of operation is another prominent factor aiding the consumer drones market growth. For instance, â€śFly Straight Out of the Boxâ€ť is a popular term in use in the world of drones which highlights the ease with which a drone can be flown. These factors in combination are expected to drive the consumer drones market growth in the years to come.
However, the existence of certain rules and regulations associated with flying a drone acts as a restraining factor for the market growth. Some of the common rules and regulations include limiting the maximum height, not flying over groups of people and restrictions over flying near airports, etc. Lack of proper training to fly a drone is another factor impacting the market growth negatively. As drones are often expensive, therefore proper training is required to fly a drone.
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With technological advancements, manufacturers of consumer drones are developing drones with increased weight carrying capacity and with enhanced controls. Some other technological developments witnessed in the consumer drones market include; developing drones with extensive camera controls in order to facilitate RAW capture, auto or full manual control and time-lapse, drone hovering in one spot with incredible stability and with RTH mode (automatic return-to-home) among others.
Some of the major players operating in the market include 3D Robotics, Inc., SZ DJI Technology Co., Ltd., Autel Robotics, EHang, Inc., Parrot Drones SAS, Yuneec International Co. Ltd., Hobbico, Inc., Guangdong Cheerson Hobby Technology Co.,Ltd, Horizon Hobby, LLC and Mota Group, Inc. among others.
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