Wednesday, 01 May 2024
According to our latest market study on "Racing Drones Market Forecast to 2030 – Global Analysis – by Component, Application, Drone Type, and Geography," the market was valued at US$ 353.01 million in 2022, and it is expected to reach US$ 1,333.19 million by 2030; it is anticipated to register a CAGR of 18.1% from 2022 to 2030.
The racing drones market is one of the fastest growing markets in the racing sports industry. The integration of drones across different applications has led to the integration of drones into racing sports events as a main part of the races. Instead of racing along with the human drivers, the demand for reducing human intervention in racing sports events are going high across different regions that shows higher deployment of FPV drone systems worldwide. Moreover, the rising shipments of drones across the international markets is also witnessing strong growth worldwide which is another major factor propelling the growth of racing drones market across different regions.
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Source: The Insight Partners Analysis
The racing drones market is segmented based on component, application, drone type, and geography. In terms of component, the racing drones market is categorized into batteries/FPV goggles, motors/propellers, camera/sensors, others. Based on application, the racing drone rotorcross, drag racing, and time trial. Based on drone type, the racing drone RTF (Ready-to-Fly) and ARF (Almost-Ready-to-Fly). Based on geography, the racing drones market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America regions. In 2022, batteries/FPV goggles accounted for a larger market share by component type, and it is expected to retain its dominance during the forecast period as well. Similarly, in 2022, time trial application segment accounted for a major share in the global racing drones market, and it is expected to retain its dominance during the forecast period as well. In addition, in 2022, RTF drone type segment accounted for a major share in the global racing drones market, however, ARF segment is likely to register highest CAGR during the forecast period.
DJI, Eachine, Walkera Technology, ImmersionRC Limited, Uvify Inc, SWAGTRON, EMAX, iFlight Innovation Technology Limited, GEPRC, and ARRISHOBBY are among the major racing drones market players operating globally. Manufacturers operating in the racing drones market strongly collaborate with different drone associations, drone pilots, and drone racing event organizers to understand their demands and offer them suitable resolutions. Such factors have been driving the racing drones market growth across different regions.
The rising awareness of enhancing the aerodynamics of FPV drones is catalyzing the growth for racing drones market across different regions. The manufacturers are mainly focusing on the development of sustainable aerial FPV drone solutions along with better aerodynamic designs that provides additional advantages of higher speed, better mobility, and advanced controls to the drone pilots. Moreover, this is also propelled by the growing usage of composite materials that allows to make lightweight components with better strength and durability that also allows a better power efficiency and higher payload capacity to the drones. Such factors are pushing the growth of racing drones market across different regions and is likely to generate new opportunities for market vendors in the coming years as well.
The racing drones market players are strongly focusing on collaborating with different drone sports associations and FPV drone pilots to understand their respective demands and offer them suitable resolutions. Moreover, the aerial sports associations and organizations of different nations are investing substantially to organize different types of drone racing events.
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