Global Racing Drone Market to Reach Valuation of ~US$786 mn by 2027; Increasing Popularity of Commercial Racing Events to Drive Growth, Finds TMR
ALBANY, New York, Feb. 19, 2020 /PRNewswire/ -- Transparency Market Research has recently published a research report that provides in-depth information about how growth of the racing drones market will unfold in the near future. The research report expects the global market to exhibit a massive CAGR of ~19% for the given forecast period that starts in 2019 and ends in 2027. With such high rate of growth, the valuation of the market is expected to reach around US$237 mn in 2020, whereas by the end of 2027, the market valuation will be staggering ~US$786 mn.
https://mma.prnewswire.com/media/1085206/Transparency_Market_Research_Logo.jpg
"Currently, multi-rotor drones, which are mainly used for drone racing have not received any massive update in terms of technology. However, this presents a huge opportunity for new and innovative solutions and upgrades. The key stakeholders in the global racing drones market have identified the trend and are thus stepping up their efforts to develop more advanced and cutting-edge racing drone with enhanced capabilities", finds TMR analyst.
Key Findings in the Research Report
-- The global racing drones market can be broadly segmented in terms of
type of racing drone, racing drone components, size, and by region.
-- Based on type, the market is further segmented into ready-to-fly (RTF),
bind-and-fly (BNF), and plug-and-play (PNP) or plug-and-fly (PLF). Of
these, the segment of ready to fly drones are expected to garner maximum
attention. As the name suggests, these drones just need to be unpacked
and can be flown directly without going through any technical assembly.
This is a perfect scenario for drone enthusiasts who are more interested
in racing drones instead of assembling them.
-- Based on components, the market is segmented further into FPV goggles,
FPV remote controllers, cameras, batteries, motors, ECSs, flight
controllers, and others.
-- In terms of size of racing drones, the market segmentation is <= 100 mm,
100-200 mm, 200-300 mm, and >= 300 mm.
Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Racing Drones Market by Type: Ready-to-fly (RTF), Bind-and-fly (BNF), and Plug-and-play (PNP)/Plug-and-fly (PNF); Component: FPV Goggles, FPV Remote Controllers, Cameras, Batteries, Motors, ECSs, Flight Controllers, and Others; and Size: <= 100 mm, 100-200 mm, 200-300 mm, and >= 300 mm at https://www.transparencymarketresearch.com/racing-drones-market.html
Global Racing Drones Market - Key Driving Factors
There is a range of factors that is helping to shape up the growth curve of the global racing drones market. Some of the important growth drivers are mentioned below:
-- One of the biggest driving factor for the market development is the
increasing popularity of drone racing among millennials. Flying a small
quadcopter in a race is quickly becoming a global trend as more and more
people are attracted towards it.
-- Moreover, this fact is being hugely complemented by the increasing
commercialization of racing drones and such events by some of the big
organizations such as the US Drone Association and International Drone
Racing Association Inc. among others.
-- Increasing popularity of drone racing can also be attributed to the
growing number of events and competitions such as Drone Racing World
Cup, MultiGP Drone Racing, and Drone Racing League. In 2018, Rudi
Browning, a drone pilot, won a prize worth US$24,000 in the World Drone
Racing Championship. Such events and results create strong brand
promotion and ultimately help in the overall development of the global
market.
-- Another important factor that is helping to drive the growth of the
global racing drones market is the launch of new products with latest
technology. First person view drones in particular are gaining huge
popularity among masses. Such developments are thus driving the racing
drone market to newer heights.
Download PDF Brochure - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=58644
Global Racing Drone Market - Key Restraining Factors
-- One of the key restraining factor for the market growth is the
complexity in assembling a DIY racing drone. DIY drone provides user
with better customization and upgrade possibilities, whereas RTF drones
come pre-assembled and very little customization setup.
-- However, due to the complexities involved in assembling, lack of
knowledge and expertise, can lead to unfavorable results. This is
expected to become a notable hindrance for the market growth.
View Detailed Table of Contents at https://www.transparencymarketresearch.com/report-toc/58644
Global Racing Drone Market - Geographical Outlook
-- Asia Pacific region is expected to provide huge growth opportunities for
the development of the global racing drone market. Countries such as
Japan, China, Australia, South Korea, and India are experiencing massive
demands for racing drones and subsequent events. Thus, the growth of the
regional market is on the high.
-- The regional segment of North America is also projected to have a
considerable growth rate in the near future. A strong presence of
notable brand, organization of well-known events, and increasing
availability of new and more advanced drones are some of the key reasons
that are driving the growth of the regional market.
Analyze Racing Drone market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
Global Racing Drone Market - Competitive Landscape
The companies in the global market are looking to provide latest technology integrated with innovative design. These companies are putting in lot of efforts to develop new products that will cater to the evolving demands of their consumers. Some of the key brands operating in the global racing drone market are INYAN Model Tech MFT., Tian Yu Hi-tech Co. Ltd, Eachine, and Hubsan.
Global Racing Drones Market: Segmentation
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 Component
-- FPV Goggles
-- FPV Remote Controllers
-- Cameras
-- Batteries
-- Motors
-- ECSs
-- Flight Controllers
-- Others
Racing Drones Market, by Size
-- <= 100 mm
-- 100-200 mm
-- 200-300 mm
-- >= 300 mm
Racing Drones Market, by Region
-- North America
-- U.S.
-- Rest of North America
-- Europe
-- U.K.
-- Germany
-- France
-- Rest of Europe
-- Asia Pacific (APAC)
-- China
-- Japan
-- India
-- South Korea
-- Australia
-- Rest of Asia Pacific
-- Middle East & Africa (MEA)
-- GCC
-- South Africa
-- Rest of Middle East & Africa
-- South America
-- Brazil
-- Rest of South America
Explore Transparency Market Research's award-winning coverage of the Global Electronics and Semiconductors Industry:
Utility Drones Market - Rising power infrastructure assets is increasing the demand for surveying, inspection, and maintenance of these assets which is subsequently increasing the demand for utility drones in the power and utility sector in the Asia Pacific region.
Inspection Drones Market - The military and defense landscape has been long using inspection drones for border security purposes. Besides this, several commercial areas of economic and human welfare now find the use of inspection drones, such as construction and infrastructure industries.
LiDAR Drones Market - LiDAR technology measures distance to a target with the help of lasers. The technology relies on illuminating objects with the help of lasers and measures the reflected light with a sensor. The technology is expected to provide drone technology with new wings in a multitude of different applications.
Firefighter Drones Market - Growing demand for advance technologies are encouraging governments to heavily invest in the development of advanced firefighting drones. Drones provide real-time situation scenarios and operational awareness in operational activities.
Gain access to Market Ngage, an AI-powered, real-time business intelligence that goes beyond the archaic research solutions to solve the complex strategy challenges that organizations face today. With over 15,000+ global and country-wise reports across 50,000+ application areas, Market Ngage is your tool for research on-the-go. From tracking new investment avenues to keeping a track of your competitor's moves, Market Ngage provides you with all the essential information to up your strategic game. Power your business with Market Ngage's actionable insights and remove the guesswork in making colossal decisions.
About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
View original content:http://www.prnewswire.com/news-releases/global-racing-drone-market-to-reach-valuation-of-us786-mn-by-2027-increasing-popularity-of-commercial-racing-events-to-drive-growth-finds-tmr-301007400.html
SOURCE Transparency Market Research
