Drones offer a wide range of uses in the current scenario, including aerial photography, disaster management, precision agriculture, geographic mapping, and weather forecasting. Due to the introduction of FPV drone racing events around the world, racing drones is a new and expanding market. Recent price reductions in first-person view (FPV) systems have resulted in a huge increase in the number of drone hobbyists around the world.
The rapid growth in the number of casual drone users, along with major developments in drone technology, has resulted in a significant increase in demand for racing drones in recent years, a trend that is likely to continue over the forecast period. In addition, the launch of several drone racing leagues throughout the world is expected to provide the racing drones market with a considerable boost in the near future. Consequently, despite being at a relatively nascent stage, the racing drones market is expected to grow at a fast pace over the forecast period.
| Report Metric | Details |
| Market size available for years | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| Forecast unit | Value (USD Million) |
| Segments covered | Type, Industry Vertical, and Region. |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | EYINYAN Model Tech MFT., Tian Yu Hi-tech Co. Ltd, Eachine, Hubsan. |
Covid-19 Impact on Racing Drones Market
Like many other industries, COVID-19 badly knocked the electronic and semiconductor industries. This unprecedented event has impacted nearly 230 countries in just a few weeks, resulting in the forced shutdown of manufacturing and transportation activities within and across the countries. This has directly affected the overall sector's growth. It is estimated that COVID-19 to leave more than USD 30 billion impacts on the electronics and semiconductor industry. The sector is majorly affected due to transport restrictions on major electronics and semiconductor raw material providers. However, the emerging need for semiconductors in several industries will offer rapid market recovery over the future period.
Racing Drones Market Segment Overview
According to Type, Ready-to-fly (RTF) is one of the largest segments in the global Racing Drones Market. Racing drones are available in a variety of configurations, including ready-to-fly (non-assembly) drones, bind-and-fly (drones without controllers), and do-it-yourself (DIY) drones. This also enables the user to collect all drone parts and build a custom racing drone. Due to the demand for various types of components such as a battery, camera, drone frame, motor, and other accessories, creating a customized racing drone by handpicking and integrating all components involves a lot of complications and time. On the other hand, ready-to-fly racing drones may be utilized right away, by saving time on assembly.
Racing Drones Market, By Type
· Ready-to-fly (RTF)
· Bind-and-fly (BNF)
· Plug-and-play (PNP)/Plug-and-fly (PNF)
Racing Drones Market, By Industry Vertical
· Commercial
· Aerospace and Defense
· Consumer Electronics
· Healthcare
· Others
Racing Drones Market Regional Overview
In terms of geography, the global Racing Drones Market is classified into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America and Europe are the most prominent regions for the Racing Drones Market. Drone racing is well established in regions such as North America and Europe. However, in the Asia Pacific region, it is still a new concept that is rapidly being implemented.
Racing Drones Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Racing Drones Market Competitor overview
Some key developments and strategies adopted by manufacturers in the Inhalable Drug Delivery Devices (IDDD) are highlighted below.
· In July 2023, DJI launched the FPV digital system for use in racing drones. The system contains a camera, goggles, air unit modules, and a remote control.
Racing Drones Market, Key Players
· YINYAN Model Tech MFT
· Tian Yu Hi-tech Co. Ltd
· Eachine
· Hubsan
Frequently Asked Questions (FAQ) :
Q1. What are the driving factors for the global Racing Drones market?
Q2. Which Segments are covered in the global Racing Drones market report?
Q3. Which segment is projected to hold the largest share in the global Racing Drones market?
Q4. Which region holds the largest share in the global Racing Drones market?
Q5. Which are the prominent players in the global Racing Drones market?
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Racing Drones Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Type
- 5.2.1. Ready-to-fly (RTF)
- 5.2.2. Bind-and-fly (BNF)
- 5.2.3. Plug-and-play (PNP)/Plug-and-fly (PNF)
- 5.3. Market Analysis, Insights and Forecast – By Industry Vertical
- 5.3.1. Commercial
- 5.3.2. Aerospace and Defense
- 5.3.3. Consumer Electronics
- 5.3.4. Healthcare
- 5.3.5. Others
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America, Middle East and Africa
6. North America Racing Drones Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Type
- 6.2.1. Ready-to-fly (RTF)
- 6.2.2. Bind-and-fly (BNF)
- 6.2.3. Plug-and-play (PNP)/Plug-and-fly (PNF)
- 6.3. Market Analysis, Insights and Forecast – By Industry Vertical
- 6.3.1. Commercial
- 6.3.2. Aerospace and Defense
- 6.3.3. Consumer Electronics
- 6.3.4. Healthcare
- 6.3.5. Others
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
7. Europe Racing Drones Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Type
- 7.2.1. Ready-to-fly (RTF)
- 7.2.2. Bind-and-fly (BNF)
- 7.2.3. Plug-and-play (PNP)/Plug-and-fly (PNF)
- 7.3. Market Analysis, Insights and Forecast – By Industry Vertical
- 7.3.1. Commercial
- 7.3.2. Aerospace and Defense
- 7.3.3. Consumer Electronics
- 7.3.4. Healthcare
- 7.3.5. Others
- 7.4. Market Analysis, Insights and Forecast – By Country
- 7.4.1. UK
- 7.4.2. Germany
- 7.4.3. France
- 7.4.4. Italy
- 7.4.5. Spain
- 7.4.6. Russia
- 7.4.7. Rest of Europe
8. Asia Pacific Racing Drones Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Type
- 8.2.1. Ready-to-fly (RTF)
- 8.2.2. Bind-and-fly (BNF)
- 8.2.3. Plug-and-play (PNP)/Plug-and-fly (PNF)
- 8.3. Market Analysis, Insights and Forecast – By Industry Vertical
- 8.3.1. Commercial
- 8.3.2. Aerospace and Defense
- 8.3.3. Consumer Electronics
- 8.3.4. Healthcare
- 8.3.5. Others
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. Australia
- 8.4.5. South East Asia
- 8.4.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Racing Drones Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Type
- 9.2.1. Ready-to-fly (RTF)
- 9.2.2. Bind-and-fly (BNF)
- 9.2.3. Plug-and-play (PNP)/Plug-and-fly (PNF)
- 9.3. Market Analysis, Insights and Forecast – By Industry Vertical
- 9.3.1. Commercial
- 9.3.2. Aerospace and Defense
- 9.3.3. Consumer Electronics
- 9.3.4. Healthcare
- 9.3.5. Others
- 9.4. Market Analysis, Insights and Forecast – By Country
- 9.4.1. Brazil
- 9.4.2. Saudi Arabia
- 9.4.3. UAE
- 9.4.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. YINYAN Model Tech MFT
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Tian Yu Hi-tech Co. Ltd
- 10.6. Eachine
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
