New York City, 11 Feb 2020 : The global racing
drones market size is expected to reach USD 2,060.7 million by
2026 according to a new study by Polaris Market Research
Racing drones also
called FPV (First Person View) refers to high speed small sized drone with
specific configurations required to participate into racing sport events
worldwide. Drone racing is a sport event which was initiated in Australia
(2013) wherein many drone pilots met together to participate in a championship.
The participating machine must have to fulfill the specific requirements of
organizing leagues wherein factors such as weight, speed, motors, and
propellers plays very important role. Racing drones are basically high-speed
machines along with FPV camera and controller which is operated by a high
skilled pilot in such sports championships.
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Increasing production
propelled by adoption across the world, introduction of high-speed drones,
rising expenditure in R&D, increasing racing sports tournaments across
different countries in the world, and increasing adoption of such racing trends
by different countries are some of the major factors aiding in the growth of
this market. In addition, factors such as requirement of highly skilled pilots
to operate these machines in the racing tournaments and complexity in assembly
of parts for beginners are some of the major restraining factors impacting
negatively.
Among drone type, the market was segmented into RTF (Ready-to-Fly)
and ARF (Almost-Ready-to-Fly). RTF are the drones which comes with complete
assembled parts and a controller along with it to which the operator can easily
operate it directly without any difficulties to assemble the parts. ARF comes
up with disassembled parts to which the operator has to combine all the parts
based on its requirements to make it operable in the field. Most of the FPV
pilots have their preference towards ARF drones so that they can customize it
to gain more speed by replacing high speed motors, propellers, and other
components based on a event eligibility criterion. ARF segment was estimated to
be largest sub-segment in 2019 and also it is expected to maintain its
dominance during the forecast period as well. This is owing to cost of ARF
against RTF which is more expensive as it has customizable options which
provide the flexibility to the pilots.
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Among application, the
market is segmented into rotorcross, drag race, and time trial. Rotorcross is a
racing event where many drones compete across an arena full of obstacles &
number of laps wherein the first drone to cross the finish line wins the
championship. Drag race is a racing event in which a number of pilots race
together wherein the drone which achieve highest speed wins the race.
Similarly, time trial is a event wherein the participants have to complete the
laps in a minimum amount of time. In 2019, rotorcross segment dominated the
market and expected to be largest during the forecast period as well. This is
owing to increasing number of rotorcross events across different regions of the
world. For instance, MultiGP is one of the biggest racing events across the
world and till 2019 it has organized more than 12,500 racing events since 2015.
Similarly, DCL (Drone Champions League) is another major event which occurs
every year across different regions in the world. These events are expected to
increase the demand for FPV across the world.
Among region, North
America was estimated to be the largest region in 2019 and is also expected to
be remain the largest during the forecast period as well. The U.S. is one of
the major regions and accounted for more than 70% of share in North America.
Moreover, increasing awareness for drone racing sports across the region among
the audience and growing adoption across different end-use sectors are some of
the major factors aiding the growth of the market in the region. Furthermore,
Asia Pacific was expected to be the fastest growing region during the forecast
period of 2020-2026 propelled by the countries such as China, Japan, and South
Korea.
The global market is
moderately consolidated and the top five players of this market accounted for
more than a share of 45% in 2019, according to Polaris Market Research. These
companies are continuously investing in R&D activities in order to fulfil
the continuous demands for better technologically advanced products. Some of the
major companies in this market include Airjugar Technology Co. Ltd., Autel
Robotics, DJI, eachine, Guangzhou Walkera Technology CO. LTD, Hubsan,
ImmersionRC Limited, mjxrc.net, Parrot Drones SAS, RotorX, Spin Master (Air
Hogs), Skyrocket LLC (Sky Viper), UVify Inc., and YUNEEC are some of the major
players in this market.
About Polaris Market Research
Polaris Market Research is a global market research and consulting
company. The company specializes in providing exceptional market intelligence
and in-depth business research services for our clientele spread across
different enterprises.
Contact Us:
Polaris Market Research
Phone: 1–646–568–9980
Email: sales@polarismarketresearch.com
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