From the department of who makes this stuff up (ed)
The “Racing Drone Market Share, Size, Trends, Industry Analysis Report, By Drone Type , By Component Type, By Application , By Region, Segment Forecast, 2023 – 2032” report has been added to ResearchAndMarkets.com’s offering.
The global racing drone market size is expected to reach USD 5,292.79 million by 2032
This report delves into the current landscape of the racing drone market, analyzing the driving factors, industry trends, and future growth prospects.
The global demand for racing drones has witnessed significant growth due to their increasing utilization across various sectors, including sports, industrial inspection, and construction. The availability of a reliable supply chain for racing drones in different industries has further fueled this demand, making racing drones a popular choice worldwide.
One of the key factors driving their adoption is the affordability of ready-to-fly (RTF) drones, which is expected to facilitate their entry into emerging industries. Additionally, racing drones have found applications in landscape surveys and agricultural terrain evaluations, expanding their versatility in diverse scenarios.
The growing need to minimize human involvement in driving during racing events, thereby reducing operating time and costs, has emerged as a key driver for the drone industry, including the racing drones. This factor eliminates the need for designing and implementing safety structures. With the pilot operating the drone via a controller, the risk of accidents and human casualties is significantly reduced, further fueling the growth of the racing drone.
In addition to recreational, racing drones are used for commercial purposes such as aerial photography and videography, inspection and monitoring, and search and rescue operations.
Incorporating artificial intelligence (AI) into drones has enabled drone suppliers to gather and use visual and environmental data through sensors attached to drones. Computer vision is a vital component of AI-powered drones, allowing them to detect objects in the air and collect and analyze data from the ground. In conjunction with sensor analysis, data processing, and drone networking capabilities, AI can enable drones to collaborate with other technologies, such as 3D printers and robots.
For instance, In July 2022, Microsoft’s launch of a simulator for AI training in drones can facilitate software development and training and provide insights into the impact of factors such as wind and rain on drone flight and battery life. The benefits of drones propelling the market.
Racing Drone Market Report Highlights
- RTF segment accounted for the largest revenue share in the market and expected to continue its dominance over the forecast period. Because RTF type of drones are popular in beginners and also these drones are equipped with high performance motors and controllers.
- Airframe segment is accounted for the dominated segment in the market, it’s the frame that holds the all the components together and its responsible for the drone’s performance, stability and maneuverability.
- Rotor cross segment dominated the market and expected to continue its dominance during the forecast period, raising the events in rotor cross racings and also competitors are developing the new products and improving their products.
- North America dominated the market in 2022 and likely to continue the dominance in the market, due to North America is home for new startups in the drone’s industry also in United State also hosting some racing events and its attraction for media and entertainment industry.
|No. of Pages||114|
|Forecast Period||2023 – 2032|
|Estimated Market Value (USD) in 2023||$959.81 million|
|Forecasted Market Value (USD) by 2032||$5292.79 million|
|Compound Annual Growth Rate||20.9 %|
Racing Drone Market Dynamics
Drivers and Opportunities
- Increasing adoption of drones for commercial purposes
- Advancements in drone technology
Restraints and Challenges
- Complexity in making DIY racing drones
- Porter’s Five Forces Analysis
- PESTEL Analysis
- Racing Drone Market Component Type Trends
- Value Chain Analysis
- COVID-19 Impact Analysis
- Airjugar Technology Co. Ltd.
- Autel Robotics
- Guangzhou Walkera Technology CO. LTD
- ImmersionRC Limited
- Parrot Drones SAS
- Spin Master (Air Hogs)
- Skyrocket LLC (Sky Viper)
- UVify Inc.
- 3D Robotics
- Gemo Copter
Scope of the Report
Drone Type Outlook (Revenue – USD Million, 2019 – 2032)
Component Type Outlook (Revenue – USD Million, 2019 – 2032)
- Flight Controller
Application Outlook (Revenue – USD Million, 2019 – 2032)
- Rotor Cross
- Drag Racing
- Time Trial
For more information about this report visit https://www.researchandmarkets.com/r/jg53vw
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