New York, Feb. 28, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Consumer Drones Global Market Report 2022" - https://www.reportlinker.com/p06240602/?utm_source=GNW
00 billion in 2021 to $ 4.85 billion in 2022 at a compound annual growth rate (CAGR) of 21.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $ 8.66 billion in 2026 at a CAGR of 15.6%.
The consumer (recreational) drones market consists of sales of consumer (recreational) drones and related services. These drones are unmanned aerial vehicles used for purposes of entertainment and have simple-to-use controls targeted at general public use rather than for commercial purposes.
The main types of consumer drones are fixed-wing drones, rotary blade drones, and hybrid drones.A fixed-wing drone is a plane that doesn’t have a human pilot on the platform.
Fixed-wing UAVs can be commanded remotely by a human or autonomously by onboard systems. The different technologies include remotely operated drone, semi-autonomous drone, autonomous drone and is used in hobbyist and gaming, aerial photography, others.
North America was the largest region in consumer drones market in 2021.North America is expected to be the fastest growing region in the forecast period.
The regions covered in the consumer drones market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rising popularity of aerial photography is driving the consumer (recreational) drones market.Photography enthusiasts are increasingly using drones to capture photographs and videos from a birds-eye view, which would otherwise require high-end video cranes.
This increase in popularity has led consumers to purchase hobbyist drones and use them for photography purposes, driving the market growth. According to the United States Federal Aviation Administration, there were 3.5 million small hobbyist drones in 2021.
The slowdown in the use of commercial drones for outdoor activities, and unavailability of the workforce to carry out necessary operations owing to the COVID-19 outbreak are projected to limit the growth of the consumer drones industry.According to the World Health Organization, coronavirus is spread in 214 countries worldwide disrupting the manufacturing and logistics across various industries.
Various e-commerce companies have discontinued the supply of non-essential items affecting the consumer drones industry along with other electronic supplies.Many countries have announced lockdowns, prohibiting the inessential movement of their citizens out of their houses.
Moreover, the shutdowns of major brand stores, hypermarkets, and supermarkets have resulted in a decline in sales through offline channels.According to Bisinfotech magazine published in March 2020, the COVID-19 outbreak has affected the bilateral trade worth $87 billion, with 163 fortune 1000 companies around the globe having one or more direct (tier-1) suppliers impacted and at least five million companies have one or more tier-2 suppliers affected by the outbreak.
Therefore, the slowdown in the use of commercial drones for outdoor activities alongside the negative impact on production activities, logistics, and unavailability of the workforce during coronavirus outbreaks is expected to act as a major restraint for the growth of the consumer drones market in the near future.
Drone manufacturers are increasingly using artificial intelligence to enable the automation of consumer drones.Consumer drones that fly beyond the controller’s range and line-of-sight are being equipped with self-navigating technology through the integration of deep-learning algorithms and other machine learning methods.
Drones are usually controlled using a wireless remote controller.However, with artificial intelligence, flight instructions can be programmed within the drone itself.
Using variables such as target location, engine rotor speed, height, air-speed velocity, and other environmental factors, the drone can learn how to fly by itself and make self-corrections whenever necessary. For example, Skydio has created a drone called the R1, which uses machine learning to maneuver itself in mid-air and follow a person (target) wherever they go.
In January 2020, Red Cat Holdings Inc. announced the acquisition of Rotor Riot for an undisclosed amount. This acquisition is expected to combine resources and expertise to facilitate growth for both companies in order to expand the consumer base for FPV drones. The companies also aim at developing and providing new and exciting technologies for drones for the hobby, lifestyle, and commercial industries. Rotor Riot is a provider of FPV freestyle drone content and products for sport and hobby.
The countries covered in the consumer drones market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06240602/?utm_source=GNW
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