Market Insights report
Drones, such as Consumer drones, Prosumer drones and Hobbyist drones, are increasingly being used by tech fans, sports fans, adventurers, professional photographers, and videographers – thanks to the adoption of various innovative technologies, such as flight technology, mobile technology, video technology, as well as advanced software and ecosystems. In 2029, the segment is forecast to increase to US$4.8 billion, from approximately US$4 billion in 2023.
What's included?
Drones, also known as unmanned aerial vehicles (UAVs), are remote-controlled flying vehicles that were originally developed for military applications and later expanded to civilian use in commercial, logistic, recreational, and agricultural areas, among others. Consumer drones, the first variety developed for non-military use, were initially only of interest to model aircraft enthusiasts. Nowadays, however, they are also used by tech fans, sports fans, adventurers, professional photographers, and videographers – thanks to the adoption of various innovative technologies, such as flight technology, mobile technology, video technology, as well as advanced software and ecosystems, in the course of the past decades. After years of development, the range of consumer drone models is almost limitless now: tricopters, quadcopters, hexacopters, or octocopters, with 3, 4, 6, or 8 rotors, respectively. And the price varies according to the features of the device, such as its size, sensing systems, onboard cameras, batteries, and flight modes – ranging from under US$100 for a lightweight hobbyist drone to over US$1,000 for a prosumer drone with a 4K camera, an obstacle sensing system, a flight range of up to 5 kilometers, and 30 minutes of flight time. But the overall average price shows a falling trend due to lower production costs and material prices.
In 2023, the revenue in the Drones market worldwide amounts to US$4bn.
It is projected to grow annually by 2.24% (CAGR 2024-2029).
When comparing global figures, China generates the highest revenue with US$1,394.0m in 2024.
The market acheived per person revenues of US$0.52 in 2023.
This report is a part of Consumer Market Insight reports.
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