Global Racing Drones Market - 2019-2026
Drone racing consists of custom-made quadcopters with high-resolution cameras used for racing purposes, with first-person view (FPV) facilities using head-mounted display or goggles. Generally, pilots monitor the video feed from the cameras and control the motion of the drones accordingly in pre-defined race courses.
The global racing drones market was worth $XX million in 2018 and is forecasted to reach $XX million by 2025, growing at a CAGR of XX% during the forecast period 2019-2026.
Global Racing Drones Market – Market Dynamics
The introduction of various racing drone leagues has contributed positively to the growth of the racing drones market, coupled with the meteoric rise in popularity of such sporting events on a global and regional scale. Several organizations and competitions are already involved with the industry, with the events being streamed on major television networks and sports channels. Multi GPU, Drone Racing League, US National Drone Racing Championships, and World Drone Prix are some of the drone racing leagues held on an annual basis, with world-class drone pilots competing in such events. The formation of racing commissions and associations, such as the USDRA Association, Quadcopter Aerial Racing Organization and Promotion (QAROP), and the British FPV Racing Association, have provided the racing drones market a form of legal authorization and framework to grow and evolve in an assuring manner. For instance, in October 2018, MultiGP Drone Racing League and The Drone Racing League announced the hosting of a first-ever Drone Racing Championship and E-Sports Tournament in Las Vegas, Nevada over the weekend of February 2019.
The challenges arising from the theft of secure data, and regulatory hurdles faced by the operators during non-official events might hamper the growth rate of the market.
Global Racing Drones Market – Segment Analysis
By type, the global racing drones market is segmented into Ready-to-Fly/Ready-to-Run (RTF/RTR) and Almost-Ready-to-Fly (ARF) segments. The ready-to-fly/ready-to-run (RTF/RTR) segment is expected to grow at a robust rate owing to high customer interest, with most buyers opting to purchase the entire kit along with the drone and receiver. The companies are also thus more focused on the launch of new products in the ready-to-fly segment to strengthen market position. For instance, in April 2017, Aerix Drones announced the launch of the new Nano FPV Indoor Drone Racing Package, which includes a ready-to-race (RTR) drone, goggles, a 5-pack of 12-inch glowing neon racing hoops, and extra batteries and blades for replacement.
The market is segmented by application into rotorcross, drag racing, and time trial. The rotorcross segment is leading, with most of the global events opting for the rotorcross format, with several drones competing in a pre-defined route and racetrack side-by-side. The drag racing format is gaining market traction at a rapid rate, which includes two or more drones on the track, with the aim of completing a 100-meter-long course to win. For instance, MultiGP has opted for a total of four vertical drag format in its latest 2018 MultiGP International Open.
Global Racing Drones Market – Geographical Analysis
The global racing drones market is segmented geographically by region into North America, South America, Europe, Asia-Pacific, and Rest of the World (RoW).
North America is the leading geographical region in the market, with increasing sales of racing drones and hosting of major sporting and racing events in countries such as the U.S. and Canada. The presence of key organizations and associations such as the USDRA Association have also helped the market growth within the framework of security regulations and laws governing the sporting events. The FAA Reauthorization Act of 2018, introduced by the Federal Aviation Administration (FAA) in October 2018, have provided drone pilots a set of flying rules and regulations, providing the market a legal platform for the basis of market expansion.
Global Racing Drones Market – Competitive Analysis
The racing drones market is highly competitive owing to a rapid rate of market expansion, with companies focused on product innovation and technology development to maintain its competitive edge over others. The significant market players include SZ DJI Technology Co., Ltd., Parrot S.A., Guangzhou Walkera Technology Co., Ltd., Hubsan, and Yuneec International Co. Ltd. The market witnesses frequent product development and launch of innovative end-products by key companies to offer consumers a combination of enhanced product and technology features. For instance, in October 2018, SZ DJI Technology Co., Ltd. unveiled the Mavic 2 Enterprise, with heightened product features such as zoom imaging, modular accessories, and security features. The company had also announced the introduction of racing edition goggles, in November 2017, to enhance the thrill of drone racing and FPV experience.
• The ready-to-fly segment is expected to witness rapid growth rate during the forecast period owing to high customer interest, easy availability, and lower price range.
• North America is the leading segment by geography owing to the rise in popularity of the sport, hosting of annual sporting events at multiple locations, and presence of key regional drone racing sporting events such as the MultiGP and Drone Racing League.
• The competitive scenario of the market is becoming more intense with the entry of new market players. For instance, in September 2017, France-based Parrot S.A. announced its intention to enter the racing drones market by launching the new Mambo FPV racing drone.
The scope of the Report
The report covers the factors impacting the market, Porter 5 Forces, Competitive Scenario, Product Benchmarking, and company profiles. Racing Drones Market is segmented by type into Ready-to-Fly/Ready-to-Run (RTF/RTR) and Almost-Ready-to-Fly (ARF). By application, the global racing drones market is segmented into rotorcross, drag racing, and time trial. Geographically, the market is segmented into North America, South America, Europe, Asia Pacific and Rest of the World.
Why Purchase the Report?
• Visualize the composition of the Racing Drones market across each indication, regarding type and treatment options, highlighting the vital commercial assets and players.
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