Racing Drone Market revenue is anticipated to rise at a rate of 22.1 % from 2023 to 2029, reaching almost USD 3.01 Bn. in 2029.

30.8.2023 : Racing Drone Market Report Scope and Research Methodology

The comprehensive report considers 2022 as the base year for forecasting the market from 2023 to 2029. By analyzing key players' real data and global outputs, and accounting for the past five years' trends, the report offers robust market predictions. The unprecedented events of 2020, primarily driven by regional lockdowns, are also thoughtfully factored into the analysis.

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What are Racing Drone Market Dynamics?

Market Drivers:

The rapid ascent of drone racing's popularity, especially among millennials, has emerged as a key driver for market growth. An upsurge in racing events and competitions, including the Drone Racing World Cup, MultiGP Drone Racing, and Drone Racing League, further contributes to the trend. Renowned champions like Rudi Browning, who secured a $24,000 reward for winning the World Drone Racing Championship, elevate the sport's status and bolster the global market's growth trajectory.

Market Restraints:

The intricacies of assembling do-it-yourself (DIY) racing drones pose a notable challenge to industry growth. While ready-to-fly (RTF) drones offer ease of use and minimal customization, DIY drones provide more personalization and upgrade options. However, the complexity of assembly can lead to suboptimal outcomes for those lacking expertise, serving as a significant impediment to market expansion.

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Racing Drone Market Segmentation?

The market is divided into RTF, BNF, and ARF segments based on Type. ARF and RTF were predicted to have the two biggest markets. Expert pilots choose RTF drones because of their customizable feature, which enables them to modify the aircraft using their expertise to increase its speed and efficiency during racing contests. As a result, there is a rising need for ARF on a global scale. The proliferation of competitions where pilots from various nations compete, such as the Drone Champions League, Drone Racing League, MultiGP, and Drone World Championship, is another important aspect fostering the development of ARF drones on a worldwide scale.

The market is divided into airframe, motors, camera/sensor, and propellers based on component type. The most dominant segment, the airframe, was predicted to remain so during the prediction period of 2023-2029. The airframe is the fundamental part that all other components are attached to in order to complete the assembly of an FPV drone. Additionally, due to the increased demand for them from pilots and beginners looking to raise the speed of a drone's propellers to achieve high-speed, motors are predicted to have the fastest growth rate among all components throughout the course of the forecast year.

Based on the time trial, drag racing, rotorcross, and application. Rotorcross was the market leader in 2022, and it is projected that it would continue to do so over the forecast period, followed by time trial and drag racing. In rotorcross racing competitions, ARF drones are typically utilised to suit event requirements such weight and motor capacity, size, and speed, all of which necessitate customisation to adhere to competition rules. The time trial is anticipated to rank as the second most popular Component Type in 2022.

Who are Racing Drone Market Key Players?

1. YINYAN Model Tech MFT.
2. Tian Yu Hi-tech Co. Ltd
3. Eachine
4. HubsanThe FAA
5. DroneLife
6. Drone business center
7. Inside Drones
8. Bard Center for the Study of the Drone
9. Drone Industry Insights
10. DroneDJ
11. EHang
12. Insitu
13. Skydio
14. Aerialtronics

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Regional Insights:

In 2022, North America, with the United States at the forefront, dominated the Racing Drone Market, accounting for over 85% of the regional market share and more than 30% globally. The presence of organizations like 'MultiGP,' boasting 20,000 registered pilots and 500 active racing chapters, significantly contributes to this dominance. Meanwhile, Asia Pacific, led by countries like China, Japan, and South Korea, is projected to witness the fastest growth. China, hosting major racing events like the FAI World Drone Racing Championship, is driving this surge.

Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

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