Consumer Drone Market Size, Share & Trends Report

Consumer Drone Market Size, Share & Trends Analysis Report by By Product (Multi-Rotor, Nano, Others), By Application (Prosumer, Toy/Hobbyist, Photogrammetry), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: 978-1-68038-831-2
  • Number of Report Pages: 300
  • Format: PDF, Horizon Databook
  • Historical Range: 2018 - 2021
  • Forecast Period: 2023 - 2030 
  • Industry: Technology

Research Methodology

A three-pronged approach was followed for deducing the consumer drone market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for consumer drone market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of consumer drone market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Consumer Drone Market Categorization:

The consumer drone market was categorized into three segments, namely product (Multi-rotor, Nano), application (Prosumer, Toy/Hobbyist, Photogrammetry), region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).

Segment Market Methodology:

The consumer drone market was segmented into product, application, and region. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The consumer drone market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twelve countries, namely, the U.S.; Canada; Germany; the UK; France; Italy; Spain; China; Japan; India; Australia; Brazil.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Consumer drone market companies & financials:

The consumer drone market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • 3D Robotics, Inc. (Kitty Hawk) - The organization provides a range of offerings encompassing GPS, pre-assembled unmanned aerial vehicles (UAVs), radio-controlled electronics, cables, connectors, servos, sensors, and inertial measurement units (IMUs). In July 2021, Kitty Hawk, established by Larry Page, the co-founder of Google, acquired 3D Robotics, Inc. Presently, the company's primary goal is to develop electric vertical take-off and landing (eVTOL) aircraft, with a strong focus on remote piloting and autonomous functionality.

  • SZ DJI Technology Co., Ltd. - DJI provides various imaging solutions, encompassing aerial, handheld, and professional imaging, along with drones designed for both consumer and commercial applications. Additionally, the company offers industrial solutions that include airframes, flight controllers, aerial gimbals, transmission systems, propulsion systems, infrared cameras, developer tools, and professional developer resources. In May 2022, DJI introduced the DJI Mini 3 Pro, a competent portable drone that boasts a weight of approximately 249 grams and advanced features like 4K/60fps video recording and tri-directional obstacle sensing.

  • Eachine - The company provides a range of services in the field of Radio Control (RC) toys, FPV racers, and FPV systems. Additionally, the company offers a wide selection of spare parts and multirotor parts for RC toys and FPV racers.

  • Parrot Drones SAS - The organization conducts its operations across four main divisions, which encompass consumer drones, commercial drones, connected devices, and automotive. In 2021, the organization introduced certified training initiatives for drone operators in collaboration with renowned Unmanned Aerial Vehicle (UAV) training institutions. Notably, the organization formed partnerships with Unmanned Safety Institute, Inc., Skyfire, and RMUS-Unmanned Solutions to provide comprehensive training programs for drone operators.

  • Yuneec International Co., Ltd. - The company specializes in various products within the RC drone industry, including fixed-wing RC airplanes, electric aircraft, aerial video quadcopters, E-longboards, and steadycams. In 2022, the company expanded its product line by introducing the H850 drone. This particular drone falls into the hexacopter category and has been specifically designed for commercial purposes, such as infrastructure inspection, public safety applications, and fawn rescue missions. Depending on the payload and various factors, the drone is capable of flying for up to 65 minutes.

  • Horizon Hobby, LLC - The services provided by the company encompass a wide range of offerings, including RC airplanes, motors, helicopters, RC aircraft, trucks & buggies, cars, model train components, boats, and UAVs. In addition, Horizon Hobby, LLC is also engaged in manufacturing batteries, accessories, and other parts designed explicitly for multirotors, quadcopters, and helicopters, catering to commercial and non-commercial applications.

  • Shantou Chenghai Weili Toys Industrial Co., Ltd. (WL Toys) - WLtoys is a renowned company that specializes in the production and distribution of RC products. Their extensive range includes quadcopters, cars, helicopters, airplanes, and boats. In addition to its exceptional product line, WLtoys provides various services, including ID design, mold tooling, and RC toy manufacturing.

  • JIANJIAN TECHNOLOGY CO., LTD. - The company functions as a producer and supplier of radio-controlled toys and hobby items. The company's core offerings and categories encompass primary RC airplanes, professional airplanes, 3-channel (CH) RC helicopters, 4CH RC helicopters, 6CH RC helicopters, high-speed RC cars, RC cars, and various other RC products.

  • Guangdong Cheerson Hobby Technology Co., Ltd. - The primary focus of the company revolves around the creation and production of consumer drones, UAVs, and model aircraft. The key product categories encompass aerial drones, racing drones, toy drones, and micro drones.

  • Guangdong Syma Model Aircraft Industrial Co., Ltd (Syma) - The company runs its in-house design, manufacturing, and trading facilities. The primary product line of the company consists of helicopters, quadcopters, and FPV quadcopters.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Consumer Drone Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Consumer Drone Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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