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  • Published On : Oct 2018
  • Code : CMI2198
  • Industry : Smart Technologies
  • Pages : 146
  • Formats :

Global Racing Drones Market - Insights

First Person View (FPV) racing which is also called drone racing, consists of custom-built quadcopters with front faced camera mounted or inbuilt into them with high-speed electric motor for racing purposes. Furthermore, the pilot controls the drone with a remote control while portraying the vision of camera mounted on the drone with the help of head-mounted display or goggles and controls the motion, speed, and direction of the racing drone with the controller.

Global racing drones market is expected to witness significant growth during the forecast period (2018–2026). 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. . Furthermore, as per Coherent Market Insights, growth of the market of racing drones is also propelled by the drone industry growth, which was pegged at 2.2 million units in 2016 and is also expected to witness high growth during the forecast period from 2018-2026 as well.

Figure 1. Global Racing Drones Market Share (%), by Region (2017 & 2026)

Racing Drones  | Coherent Market Insights

Source: Coherent Market Insights, 2016-17

Introduction of numerous drone racing leagues and tournaments globally is expected to aid in growth of the market

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. For instance, in 2014, the drone racing started through Australia which was organized by Quadcopter Aerial Racing Organization and Promotion (QAROP) and became a trend across the world. Since then, racing drones have started gaining traction in sports application. There are different types of leagues and tournaments such as Pilots, Trick Wiki, and MultiGP introduced as of now which require racing drones with different types of configurations, components, and features such as high speed, high battery voltage, camera with wide angle & high quality video throughput, better control, and more focused towards moving forward instead of hovering. Each league has different rules for the type of equipment (standard spec or open spec) such as overall environment of the race and rules for overtaking & combat. This factor is expected to increase sales of different configuration of drones with various specifications required for any particular type of racing.

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.

Figure 2. Global Racing Drones Market Share (%), By Drone Type (2017 & 2026)

Racing Drones  | Coherent Market Insights

Source: Coherent Market Insights, 2016-17

Introduction of high-speed lightweight drones is 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. These are required to have high precision controlling with high-speed and better stability. The new generation drones with high powered motor and high power supply with lightweight components are used for racing. The introduction of these types of drones in the Unmanned Aerial Vehicle (UAV) or drone industry is expected to drive the market growth during the forecast period.

Increasing demand for reducing human intervention in driving along with time & costs in the racing tournaments are driving the market growth

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.

Racing drones have witnessed significant adoption in the sports and gaming applications during the forecast period, owing to introduction of high-speed lightweight drones, and rising demand for reducing human intervention for driving. Furthermore, high power consumption by drones has led to a short fly time and this is a major factor restraining growth of the racing drones market.

Market Dynamics

The global racing drones market growth is attributed to rising adoption of drones in the sporting & gaming applications and increasing demand of high-speed drones for FPV racing in extreme sports, which are gaining popularity across various countries, globally. For instance, in 2015, the Australian Broadcasting Company (ABC) produced a feature called Game of Drones. In addition to this, some of the other racing leagues such as Aerial Action Sports League, Aerial Grand Prix, Flight Club, MultiGP, Open Pilot, RacingFPV, NorCalFPV, SoCalRotorRacing, and TeamRaceKraft, requires high-speed lightweight drones with high power and good electric motors for the tournaments. Moreover, increasing applications of high-speed drones in different end-use industries such as aerospace and defense, construction, and rescue/inspection & security are further driving demand for drones with high power electric motors and battery for longer aerial flight time.

Key features of the study:

  • This report provides in-depth analysis of racing drones market size (US$ Million), and Compound Annual Growth Rate (CAGR %) for the forecast period (2018– 2026), considering 2017 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
  • It profiles leading players in the global racing drones market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, racing drones market capital, key developments, strategies, and future plans
  • Companies covered as part of this study include DJI, Parrot, Yuneec, Walkera, Air Jugar, MJX, EXDRONES, Chengji, Global Drone, Flytec, Binshang Creative Technology Co. Ltd., JYU, Sky Viper, Eachine, and RotorX Racing.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launches, product upgrades, market expansion, and marketing tactics
  • The global racing drones market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global racing drones market.

Detailed Segmentation:

  • Global Racing Drones Market, By Drone Type:
    • RTF/RTR
    • ARF
  • Global Racing Drones Market, By Application:
    • Rotorcross
    • Drag Racing
    • Time Trial
  • Global Racing Drones Market, By Geography:
    • North America
      • By Drone Type:
        • RTF/RTR
        • ARF
      • By Application:
        • Rotorcross
        • Drag Racing
        • Time Trial
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Drone Type:
        • RTF/RTR
        • ARF
      • By Application:
        • Rotorcross
        • Drag Racing
        • Time Trial
      • By Country:
        • Germany
        • UK
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Drone Type:
        • RTF/RTR
        • ARF
      • By Application:
        • Rotorcross
        • Drag Racing
        • Time Trial
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Latin America
      • By Drone Type:
        • RTF/RTR
        • ARF
      • By Application:
        • Rotorcross
        • Drag Racing
        • Time Trial
      • By Country:
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East
      • By Drone Type:
        • RTF/RTR
        • ARF
      • By Application:
        • Rotorcross
        • Drag Racing
        • Time Trial
      • By Country:
        • GCC Countries
        • Israel
        • Rest of Middle East
    • Africa
      • By Drone Type:
        • RTF/RTR
        • ARF
      • By Application:
        • Rotorcross
        • Drag Racing
        • Time Trial
      • By Country:
        • Northern Africa
        • Central Africa
        • South Africa
  • Company Profiles
    • DJI
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments/ Updates
    • Parrot
    • Yuneec
    • Walkera
    • Air Jugar
    • MJX
    • EXDRONES
    • Chengji
    • Flytec
    • Binshang Creative Technology Co. Ltd.
    • JYU
    • Sky Viper
    • Eachine
    • RotorX Racing

“*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

The global racing drones market is estimated to surpass US$ 2,143.9 Million by 2026
Major 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.
Among drone type, ARF (almost ready-to-fly) segment is estimated to exhibit the highest growth rate during the forecast period
Introduction of numerous drone racing leagues and tournaments globally is one of the major factors that is expected to propel growth of the market over the forecast period
The global racing drones market is estimated to exhibit a CAGR of 20.0% over the forecast period.
Among regions, North America is expected to hold the dominant position in the global racing drones market over the forecast period

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