PUBLISHER: Grand View Research | PRODUCT CODE: 1133256
PUBLISHER: Grand View Research | PRODUCT CODE: 1133256
The global consumer drone market size is projected to reach USD 11.56 billion by 2030, registering a CAGR of 13.8% from 2022 to 2030, according to a new report by Grand View Research, Inc. The industry is projected to expand significantly due to its widespread commercial and leisure applications. Companies are using drone-acquired data to speed up service delivery in their business operations. Evolution in in-flight controls and technology, as well as advancements in portable video and camera technology, have boosted the demand for consumer drones, such as tiltrotors, multi-copters, and helicopters. The development of cutting-edge technology that makes drones safer, such as geo-fencing and collision avoidance, has led to a rise in the use of consumer drones across several industries.
New developments in the manufacturing of consumer drones have raised product demand. The latest drone model specifications include a higher range, faster speeds, navigation systems that can be connected to the user's phone, and efficient, safe, and effective control systems. Consumer drones are provided with all the components for the best control systems and power efficiency by motor drivers, angle, position, charger sensors, chargers, and regulators. These properties of consumer drone parts are superior in performance and consume little power, positively influencing consumer purchasing decisions. The increasing popularity of drone racing and drone photography competitions, as well as other initiatives that promote drone flying as leisure, is also attributed to the industry expansion.
In addition, the administrative authority, which allows drones to fly for non-commercial purposes in specific locations also promotes the expansion of the industry. Consumer drone sales are expected to increase in regions like North America and Europe due to the DIY developer drone, which includes customized drone fabrication. In the upcoming years, factors including the growing number of startup companies entering the UAV sector in developing nations like China are anticipated to fuel regional market expansion.