Racing Drones Market to Surpass US$ 2,143.9 Million by 2026

Published On : Oct 05, 2018

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% over the forecast period, according to Global Racing Drones Market Report, by Drone Type (RTF/RTR and ARF), by Application (Rotorcross, Drag Racing, and Time Trial), by Region (North America, Europe, Asia Pacific, Latin America, The Middle East, and Africa) published by Coherent Market Insights.

Racing drones are designed to focus all of their power in moving forward, however a photography/video drone is more focused on hovering while taking pictures and videos. Racing drones can accelerate and maneuver with great speed and agility due to their lightweight and high-power electric motors, which provide large torque to propellers of the wing. Introduction of drone racing leagues & tournaments all over the world, increasing demand for high-speed drones with better stability and controlling, and rising demand for reducing human intervention while driving is driving the racing drones market growth. Moreover, rising demand for drones/UAVs for different applications in various end-use industries are also likely to drive demand for drones. Low quality drones cannot be used for racing purposes as they do not meet the required configurations. These drones can be modified with specific design components, specific electric motors, and additional features according to the requirement of the pilot.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/racing-drones-market-2198

Browse 60 market data tables* and 40 figures* on "Global Racing Drones Market” - Global forecast to 2026.

Key Trends and Analysis of the Global Racing Drones Market:

  • Among drone type, ARF (almost ready-to-fly) segment is expected to exhibit the highest growth rate during the forecast period. This is owing to the fact that most of the drone pilots modify their drones, in order to match the capabilities of their drone with the required standards, compatibility, and their piloting skills. The selection of an ARF drone means that the user is already aware of the assembly, modification, and controlling of the drone. Generally the drones used for racing are mostly modified by the users in order to achieve highest speed with better stability and controlling according to their requirements and the standards.
  • Among application, rotorcross segment held the dominant share in the global racing drones market in 2017 as most of the drone racing tournaments are held in this category only which requires more of pilot skills than drag racing and time trial categories of racing. Two or more racers compete to decide who crosses the finish line and this is the most exciting format of drones racing sport. This type of race is between the drones that must pass through a specific course as soon as possible in which pilot controls them from a specific distance while wearing FPV (First Person View) goggles where they can see the video streaming from the camera of the drone. This is also one of the most demanding types of races as it requires great flying capabilities and maneuverability. Almost all of the winning racing drones are self-modified (AFR) by the pilots in this type of tournaments. This is the fastest growing type of segment as well.

Key Takeaways of the Market:

  • According to Coherent Market Insights’ analysis, North America is the largest region in the global racing drones market and it is expected to witness high growth over the forecast period. North America drones industry is expected to lead the market during the forecast period as well driven by increasing use of UAVs/drones for commercial and military applications. Based on Coherent Market Insights’ estimations, North America drones industry is estimated to be valued at US$ 3.7 billion in 2018 and it is projected to increase at a CAGR of 14.15% during the forecast period of 2018-2026. This is owing to rising demand for ARF drones in the region propelled by  continuous modification of the drone components by the pilot of the drone who is participating in the racing league for better performance and to achieve the required standards for any particular tournament.
  • According to Coherent Market Insights’ research, Australia is one of the leading countries in terms of market share in Asia Pacific racing drones market, as it was the first country that conducted drones racing tournaments. Asia Pacific is expected to show highest growth over the forecast period, owing to increasing demand for high-speed drones in the region propelled by increasing number of drone racing leagues and tournaments which require high-speed drones to match the required standards to participate in the tournaments; as the commercial or normal consumer drones cannot participate in racing of tournaments. Initially, there were few drone racing leagues been conducted in the region, however, the sport is now gaining popularity globally.
  • Some of the major players operating in the racing drones market include DJI, Parrot, Yuneec, Walkera, Air Jugar, MJX, EXDRONES, Chenji, Binshang Creative Technology Co. Ltd., JYU, Sky Viper, Eachine, and RotorX Racing.

About Coherent Market Insights:

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