Drone, as known as UAV, is an aircraft without any onboard pilot, passenger or crew. The UAV is controlled remotely using a system of communication. These drones are widely used for armed forces initially. However, lately drones are now used for various commercial, recreational, and sporting activities. Drone racing is a sport where participants completed in a full-size air racing. These drones are developed using lightweight component and has powerful motor for quick maneuvering capabilities.
MARKET DYNAMICS
The racing drone market is experiencing significant growth owing to the increasing adoption of drones for recreation activities by masses. However, high cost of racing drones can hamper the growth of racing drone market. Meanwhile, the growing number of mainstream events related to drone racing is expected to flourish the racing drone market.
MARKET SCOPE
The "Racing Drone Market Analysis to 2028" is a specialized and in-depth study of the aerospace and defense with a special focus on the global market trend analysis. The report aims to provide an overview of racing drone market with detailed market segmentation by drone type, component, application, and geography. The global racing drone market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading racing drone market players and offers key trends and opportunities in the racing drone market.
MARKET SEGMENTATION
The global racing drone market is segmented on the basis of drone type, component, and application. Based on drone type, the market is segmented into RTF and ARF. Based on component, the market is segmented into airframe, motors, camera/sensors, propellers, and others. Based on application, the market is segmented into rotorcross, drag racing, and time trial.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global racing drone market based on various segments. It also provides market size and forecast estimates from year 2018 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The racing drone market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting racing drone market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive porters five forces analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the racing drone market in these regions.
MARKET PLAYERS
The reports cover key developments in the racing drone market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from racing drone market are anticipated to lucrative growth opportunities in the future with the rising demand for racing drone market. Below mentioned is the list of few companies engaged in the racing drone market.
IMPACT OF COVID-19 ON RACING DRONE MARKET
The outbreak of COVID-19 has significantly impacted various industries including aerospace. As containment measures were imposed by governments across the globe such as trade restriction and factor shutdown followed by limited personnel at workplaces in order to adhere to the norms of social distancing. Thus, the imposition of such measures affected the supply chain of drones which subsequently affected production volume of racing drones in 2020. However, as containment measures were relaxed and governments started awarding military contracts, the adoption of drones started gaining traction from Q1 of 2021 which subsequently augmented the demand for racing drones.
The report also includes the profiles of key racing drone market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
DJI
Eachine
Guangzhou Walkera Technology CO.,LTD
ImmersionRC Limited
UVify Inc.
SWAGTRON
EMAX
iFlight Innovation Technology Ltd.
GEPRC
ARRISHOBBY
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