The global racing drones market was valued at US$ 414.5 million in 2017 and is projected to reach US$ 2,143.9 million by 2026, exhibiting a CAGR of 20.0% over the forecast period.

First Person View (FPV) racing which is also called drone racing, consists of custom-built quadcopters with front faced camera mounted or inbuilt into them with high-speed electric motor for racing purposes. Furthermore, the pilot controls the drone with a remote control while portraying the vision of camera mounted on the drone with the help of head-mounted display or goggles and controls the motion, speed, and direction of the racing drone with the controller.

Global racing drones market is expected to witness significant growth during the forecast period (2018–2026). The market growth is majorly attributed to increasing application of drones in various sporting events, for example in cricket tournaments, the drones are used for capturing pictures or videos from the top for clear view. . Furthermore, as per Coherent Market Insights, growth of the market of racing drones is also propelled by the drone industry growth, which was pegged at 2.2 million units in 2016 and is also expected to witness high growth during the forecast period from 2018-2026 as well.

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Introduction of numerous drone racing leagues and tournaments globally is expected to aid in growth of the market

Various sport events are being conducted across the globe, where the use of drones is increasing. This is expected to aid in growth of the market. For instance, in 2014, the drone racing started through Australia which was organized by Quadcopter Aerial Racing Organization and Promotion (QAROP) and became a trend across the world. Since then, racing drones have started gaining traction in sports application. There are different types of leagues and tournaments such as Pilots, Trick Wiki, and MultiGP introduced as of now which require racing drones with different types of configurations, components, and features such as high speed, high battery voltage, camera with wide angle & high quality video throughput, better control, and more focused towards moving forward instead of hovering. Each league has different rules for the type of equipment (standard spec or open spec) such as overall environment of the race and rules for overtaking & combat. This factor is expected to increase sales of different configuration of drones with various specifications required for any particular type of racing.

As per Coherent Market Insights, in 2015, the drone industry witnessed a steep growth due to the rule by Federal Aviation Administration (FAA), which granted new exemptions for companies to operate drones in the U.S. This is another factor expected to aid in growth of the market.

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This release was published on openPR.