Global Racing Drones Market Size to Worth USD 838.70 Million by 2033 | CAGR of 18.35%
Category: Aerospace & DefenseGlobal Racing Drones Market worth USD 838.70 Million by 2033
According to a research report published by Spherical Insights & Consulting, the Global Racing Drones Market Size is Expected to Grow from USD 155.57 Million in 2023 to USD 838.70 Million by 2033, at a CAGR of 18.35% during the forecast period 2023-2033.
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Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the "Global Racing Drones Market Size, Share, and COVID-19 Impact Analysis, By Drone Type (RTF, BNF, and ATF), By Application (Rotor Cross, Drag Racing, and Time Trial), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033. "Get Detailed Report Description: https://www.sphericalinsights.com/reports/racing-drones-market
An unmanned aerial vehicle (UAV) made for high-speed competitions that is small, light, and flexible is called a racing drone. The racing drone's speed and direction of travel are controlled by the pilot using a remote control while the drone's camera is displayed on a head-mounted display. This device's wide-angle, high-resolution camera, high speed, and improved control make it a popular choice for racing competitions like MultiGP drone racing and drone racing world cups. Racing drones are in high demand due to the sharp increase in casual drone users and noteworthy technological improvements. One of the main factors driving the market growth is the growing demand for high-speed FPV for applications including surveillance, industrial inspection, search, and rescue missions, as well as in various drone leagues like Multi GPU, drone racing league, and global drone prix. The racing drone market is expected to grow as long as continuous advancements are made to improve the quality of drone photos and videos. However, the expansion of the racing drone market is restricted by the inability of highly qualified pilots to fly racing drones in competitions and the difficulty of assembling ARF drone components.
The RTF segment is predicted to hold the largest market share through the forecast period.
Based on the drone type, the racing drones market is classified into RTF, BNF, and ATF. Among these, the RTF segment is predicted to hold the largest market share through the forecast period. RTF drones are fully assembled and ready to fly. Pilots can take off faster because they don't have to spend time assembling components or configuring transmitters. This lowers the initial learning curve and attracts new hobbyists to RTF drones.
The rotor cross segment is anticipated to hold the largest market share during the projected timeframe.
Based on the application, the racing drones market is divided into rotor cross, drag racing, and time trial. Among these, the rotor cross segment is anticipated to hold the largest market share during the projected timeframe. Rotor cross is a high-speed race with up to four drone pilots running through an obstacle course with gates and banners. Both pilots and spectators find rotor cross-racing to be an entertaining spectacle.
North America is estimated to hold the largest share of the racing drones market over the forecast period.
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North America is estimated to hold the largest share of the racing drones market over the forecast period. The region's dominance can be ascribed to competitors' growing focus on developing drones that are quicker, nimbler, and more adaptable to satisfy racing enthusiasts' demands. Additionally, to satisfy the demand created by the growing fan base, especially in the US, racing events are emerging as a major draw in the media and entertainment sector.
Asia Pacific is predicted to have the highest CAGR growth in the racing drones market over the forecast period. The regional market growth can be attributed to the rise in drone racing competitions, which are supported by a robust regulatory system that guarantees sports safety. In addition, drone racing kits and accessories are becoming more widely available, making them more accessible to end users of all skill levels.
Major key players in the racing drones market include IdeaForge, BetaFPV, InsideFPV, Autel Robotics, DJI, EMAX, Diatone, Holybro, Fat Shark, Autel Robotics, Hubsan, Caddx, GEPRC, iFlight, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In February 2024, Leading deep-tech drone manufacturer InsideFPV announced the Elevate V1 Series' debut as part of the Made in India campaign. The drone has a 20-megapixel camera, 4K HD video capture, and a three-axis gimbal camera stabilization system.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the racing drones market based on the below-mentioned segments:
Global Racing Drones Market, By Drone Type
- RTF
- BNF
- ATF
Global Racing Drones Market, By Application
- Rotor Cross
- Drag Racing
- Time Trial
Global Racing Drones Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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