Global Racing Drone Market: Industry Analysis and Forecast (2021-2027)

[akash Arjun pingale]

Global Racing Drone Market was worth US$ 0.41 Bn. in 2019 and overall revenue is anticipated to rise at a rate of 22.1 % from 2021 to 2027, reaching almost US$ 2.03 Bn. in 2027.

Global Racing Drone Market Overview:

Pilots of drone racing events (also known as high-speed or FPV drones) use racing drones (also known as high-speed or FPV drones) to compete in a racing sports match. It is fast gaining popularity all around the world. This is a sport in which human pilots fly and control their drones at fast speeds in a complex environment filled with obstacles. One of the things increasing competition and awareness for such racing events across different regions is the government of many countries allowing them to fly for sporting events. MultiGP and DRL (Drone Racing League).

Global Racing Drone Market

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2019 is considered as a base year to forecast the market from 2021 to 2027. 2020’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years trends are considered while forecasting the market through 2027. 2020 is a year of exception and analysed specially with the impact of lockdown by region

2019 is considered as a base year to forecast the market from 2021 to 2027. 2020’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years trends are considered while forecasting the market through 2027. 2020 is a year of exception and analysed specially with the impact of lockdown by region.

Global Racing Drone Market Dynamics:

The growing popularity of drone racing among millennial is one of the most important factors driving the market growth. As more individuals become interested in flying a small drone in a race, it is quickly becoming a global trend. The increasing number of events and competitions, such as the Drone Racing World Cup, MultiGP Drone Racing, and Drone Racing League, can also be contributed to the growing popularity of drone racing. Rudi Browning, a drone pilot, won the World Drone Racing Championship in 2018 and received a reward of $24,000. Such events and outcomes develop a strong brand and, as a result, aid in the global market's general development.

The difficulty of assembling a DIY racing drone is one of the major restraints on industry growth. RTF drones come pre-assembled and require very little customization, whereas DIY drones allow for more customization and upgrade choices. Due to the complexities of assembling, however, a lack of knowledge and experience can result in adverse results. This is expected to be a major barrier to market growth.

The use of racing drones in a variety of fields, including sports, industrial inspection, and construction, has driven demand in the global racing drone market. Furthermore, due to the existence of a stable supply channel for these drones across numerous industries, demand for global racing drones has risen to new heights. The lower cost of RTF drones is expected to lead to an increased usage of racing drones in a variety of new industries. Furthermore, in many circumstances, racing drones are used to assess terrains and potential farming landscapes.

The global racing drones market is expected to generate significant revenue as a result of governments' efforts to improve the standards of major industries including construction, railways, and sports. Furthermore, as market suppliers sign investment agreements with different venture capitalists, the market for racing drones is expected to see a large inflow of revenue.

Global Racing Drone Market Segment Analysis:

Based on Type, the market is segmented into RTF, BNF, and ARF. The largest market was anticipated to be ARF, followed by RTF. RTF drones are the most popular among expert pilots because to their adjustable feature, which allows them to change the machine using their knowledge in order to obtain faster speed and efficiency in racing competitions. As a result, the global demand for ARF is growing. Furthermore, the ARF segment of the global racing drone market is expected to grow at the fastest rate of xx% during the forecast period. Moreover, an increase in the number of racing events like as the Drone Champions League, Drone Racing League, MultiGP, and Drone World Championship, in which pilots from many countries compete together, is a vital factor promoting the global growth of ARF drones.

Based on Component Type, the market is segmented into airframe, motors, camera/sensor and propellers. Airframe was estimated to be the most dominant segment, and it will continue to be so during the forecast period of 2020-2027. To complete the assembly of an FPV drone, the airframe is the base component to which all other components are attached. Additionally, motors are expected to be the fastest-growing component among all components throughout the forecast period, owing to the increasing demand for them by pilots and beginners seeking to increase the speed of a drone's propellers to achieve high-speed.

Global Racing Drone Market

Based on the Application, the Rotorcross, Drag racing, and Time trial. In 2019, rotorcross dominated the market, and it is anticipated to do so again in the forecast period, followed by time trial and drag racing. ARF drones are mostly used in rotorcross racing events to meet event specifications such as weight and motor capacity, size, and speed, all of which require customization to meet tournament rules. In 2019, the time trial is expected to be the second most popular Component Type.

Global Racing Drone Market Regional Insights:

North America is expected to be the most dominant region in 2019. United States accounting for more than 85% of the North American market and more than 30% of the global market in 2019. The presence of one of the largest racing event organizations, 'MultiGP,' which presently has over 20,000 registered pilots and 500 active drone racing chapters globally, mostly in the United States, is the cause for its domination.

During the forecast period, Asia Pacific is expected to be the fastest growing region in this market globally. Countries like China, Japan, and South Korea are driving this region's growth. China is the region's most powerful country, hosting the 2019 FAI World Drone Racing Championship (WDRC) for the third time in three years. Furthermore, these racing events are attracting attention from the media and entertainment industries, since major television sports networks are cooperating with organizers to provide online video streaming platforms to meet the demand generated by the country's growing audience.

Global Racing Drone Market

The objective of the report is to present a comprehensive analysis of the global Racing Drone Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the global Racing Drone Market dynamics, structure by analyzing the market segments and projects the global Racing Drone Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Type portfolio, growth strategies, and regional presence in the global Racing Drone Market make the report investor’s guide.

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Global Racing Drone Market Scope: Inquire before buying

Global Racing Drone Market

Global Racing Drone Market, by Region

• North America

• Europe

• Asia Pacific

• Middle East and Africa

• South America

Global Racing Drone market key player:

• YINYAN Model Tech MFT.

• Tian Yu Hi-tech Co. Ltd

• Eachine

• HubsanThe FAA

• DroneLife

• Drone business center

• Inside Drones

• Bard Center for the Study of the Drone

• Drone Industry Insights

• DroneDJ

• EHang

• Insitu

• Skydio

• Aerialtronics

Frequently Asked Questions:

1) What was the market size of Global Racing Drone Market markets in 2019?

Ans - Global Racing Drone market was worth US$ 0.41 Bn. in 2019.

2) What is the market segment of Global Racing Drone Market markets?

Ans -The market segments are based on Type, Component type and Component Type.

3) What is forecast period consider for Global Racing Drone Market markets market?

Ans -The forecast period for Global Racing Drone Market is 2021 to 2027.

4) Which are the worldwide major key players covered for Global Racing Drone Market report?

Ans - YINYAN Model Tech MFT., Tian Yu Hi-tech Co. Ltd, Eachine, HubsanThe FAA, DroneLife, Drone business center, Inside Drones, Bard Center for the Study of the Drone, Drone Industry Insights, DroneDJ, EHang, Insitu, Skydio, Aerialtronics.

5) Which region is dominated in Global Racing Drone Market?

Ans -In 2019, North America region dominated the Global Racing Drone Market.

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