Global Consumer (Recreational) Drones Market 2020 COVID-19 Impact, Analysis and Forecast 2026

Consumer (Recreational) Drones Market:

WiseGuyReports.com adds “Global Consumer (Recreational) Drones Market Research Report 2020 Analysis and Forecast 2030” reports to its database.

Executive Summary

The global consumer drones market is expected decline from $2.47 billion in 2019 to $2.33 billion in 2020 at a compound annual growth rate (CAGR) of -5.60%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $3.27 billion in 2023 at CAGR of 12.00%.

The consumer (recreational) drones market consists of sales of consumer (recreational) drones and related services. These drones are unmanned aerial vehicles used for purposes of entertainment and have simple-to-use controls targeted at general public use rather than for commercial purposes.

The North American market is the largest market for consumer drones and is expected to continue to be the largest market during the forecast period.

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Drone manufacturers are increasingly using artificial intelligence to enable automation of consumer drones. Consumer drones that fly beyond the controller's range and line-of-sight are being equipped with self-navigating technology through the integration of deep-learning algorithms and other machine learning methods. Drones are usually controlled using a wireless remote controller. However, with artificial intelligence, flight instructions can be programmed within the drone itself. Using variables such as target location, engine rotor speed, height, air-speed velocity and other environmental factors, the drone can learn how to fly by itself and make self-corrections whenever necessary. For example, Skydio has created a drone called the R1, which uses machine learning to maneuver itself in mid-air and follow a person (target) wherever they go.

The consumer drones market covered in this report is segmented by type into fixed wing drone; rotary blade drone; hybrid drone. It is also segmented by technology into remotely operated drone; semi-autonomous drone; autonomous drone and by application into hobbyist & gaming; aerial photography; others.

The slowdown in use of commercial drones for outdoor activities, and unavailability of the workforce to carry out necessary operations owing to the COVID-19 outbreak is projected to limit the growth of the consumer drones industry. According to the World Health Organization, coronavirus is spread in 214 countries worldwide disrupting the manufacturing and logistics across various industries. Various e-commerce companies have discontinued the supply of non-essential items affecting the consumer drones industry along with other electronic supplies. Many countries have announced lockdowns, prohibiting inessential movement of their citizens out of their houses. Moreover, the shutdown of major brand stores, hypermarkets and supermarkets have resulted in a decline in the sales through offline channels. According to BISinfotech magazine published in March 2020, COVID-19 outbreak has affected the bilateral trade worth $87 billion, with 163 fortune 1000 companies around the globe having one or more direct (tier-1) suppliers impacted and at least five million companies have one or more tier-2 suppliers affected by the outbreak. Therefore, the slowdown in use of commercial drones for outdoor activities alongside negative impact on production activities, logistics and unavailability of the workforce during coronavirus outbreak is expected to act as a major restraint for the growth of the consumer drones market in the near future.

In January 2020, Red Cat Holdings Inc. announced the acquisition of Rotor Riot for an undisclosed amount. This acquisition is expected to combine resources and expertise to facilitate growth for both the companies in order to expand the consumer base for FPV drones. The companies also aim at developing and providing new and exciting technologies for drones for hobby, lifestyle and commercial industry. Rotor Riot is a provider of FPV freestyle drone content and products for sport and hobby.

The rising popularity of aerial photography is driving the consumer (recreational) drones market. Photography enthusiasts are increasingly using drones to capture photographs and videos from a birds-eye view, which would otherwise require high-end video cranes. This increase in popularity has led consumers to purchase hobbyist drones and use them for photography purposes, driving market growth. According to the United States Federal Aviation Administration, there were 1.1 million small hobbyist drones in 2016 and this is expected to triple in number to reach 3.5 million by 2021.

Major players in the consumer drones market are 3D Robotics, Cheerson, Parrot S.A, DJI, Yuneec, EHang, Airdog, GoPro, and Guangdong Cheerson Hobby Technology.

Continuous…

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NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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