The global racing drones market was valued at US$ 414.5 million in 2017 and is projected to reach US$ 2,143.9 million by 2026, exhibiting a CAGR of 20.0% By 2026.The market growth is majorly attributed to increasing application of drones in various sporting events, for example in cricket tournaments, the drones are used for capturing pictures or videos from the top for clear view.
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Various sport events are being conducted across the globe, where the use of drones is increasing. This is expected to aid in growth of the market. As per Coherent Market Insights, in 2015, the drone industry witnessed a steep growth due to the rule by Federal Aviation Administration (FAA), which granted new exemptions for companies to operate drones in the U.S. This is another factor expected to aid in growth of the market.
There are numerous types of drones which are used for various applications such as surveillance, reconnaissance, security, and search & rescue operations in different end-use industries such as aerospace & defense, construction, oil and gas, and commercial operational applications as well. The drones which are used for racing are different from the drones used in the above mentioned applications.
Demand for reducing human intervention in driving in racing tournaments, which could reduce time required for driving and costs has become a major factor to drive growth of the drones industry and for racing drones as well. There is no need to design and operate any safety structure with this factor. The pilot with the controller in his hand gives all the commands to drones and operates it with the controller, which reduces the chances of accidents and loss of human lives which acts as major a driver for drones/UAV industry and for racing drones as well.
Some of the key players operating in the global racing drones market include DJI, Parrot, Yuneec, Walkera, Air Jugar, MJX, EXDRONES, Chengji, Flytec, Binshang Creative Technology Co. Ltd., JYU, Sky Viper, Eachine, ad RotorX Racing.
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Detailed Segmentation of Racing Drones Market:
Global Racing Drones Market, By Drone Type:
Global Racing Drones Market, By Application:
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