The global racing drone market size was valued at USD 425 million in 2019 and is anticipated to grow at a CAGR of 20.4% during the forecast period. The Racing Drone is a small quadcopter unmanned aerial vehicle which is designed for drone racing events. Increase in the number of drone racing events and competition such as drone racing league, and others in the millennials are the factors that will propel the global racing drone market during the forecast period. Increasing demand new drones equipped with advanced technology is supporting the demand of Racing Drone across the globe. Furthermore, lack of skilled experts and high maintenance cost are some of the major constraints of racing drone market growth.Introduction of high-speed drones, coupled with an increase in awareness for reducing harmful environmental emission from sport vehicles is driving the growth of racing drone market.  Increasing popularity of drones by racing organizations is anticipated to boost the growth of racing drone market. Therefore, the racing drone market is expected to increase soon owing to its high technological advancements.

Key Factors Impacting the Growth of Racing Drone Market:

• Technological advancements
• Complexities in designing unique designs of racing drones
• Unavailability of highly skilled pilots to operate the racing drones during tournaments

The racing drone market segmentation is based on drone type, application, component, and region. The industry professionals are looking forward to increase the application of racing drone in the industries. The racing drone market is currently witnessing high growth due to an increase in the racing events occurring globally which is being organized by International Drone Racing Association, Inc.

 Drone Type Outlook:                                                        

The drone type for the generation of revenues in the global racing drone market is ready-to-fly, almost ready-to-fly. In 2019, the ready-to-fly segment is predicted to account for the largest revenue market share in the racing drone market. The growth of the segment is primarily due to its use by skilled pilots and highly customizable features to meet the end-use.  

Application Outlook:

Based on application, the racing drone market is classified into rotorcross, drag racing, and time trial. The rotorcross segment is expected to dominate the application segment of racing drone market in 2019 and is foreseen to dominate during the forecasted years owing to increase in the number of rotorcross activities in the global level.

Component Outlook:

Based on component, the racing drone market has been segmented into airframe, motor, cameras, propellers, and others. In 2019, the airframe category dominated the end users’ segment by accounting the largest market share in the racing drone market and is anticipated to dominate during the forecasted years.

Regional Outlook:

Based on the region, the global racing drone market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. In terms of revenue, North America holds a dominant position in the global racing drone market in 2019. The region's dominance is attributable to highest growth in this region owing to the large presence of industry players in this region along with the rise in research and development over the incorporation of racing drones across various applications.Europe is expected to register significant growth in the market due to increase in demand from racing drone organization, increase in youth population, growing number of competition as a racing drone in colleges and schools, and rising spending capacity of consumer. Furthermore, Asia Pacific is estimated to project the fastest growth rate in the global racing drone market during the forecast period. This growth can be accredited to several factors such as increasing racing events which are becoming attraction in entertainment industry.The report analyzes factors affecting the racing drone market from both demand and supply side and further analyses market dynamics affecting the market during the forecast year such as driver, restrain, opportunities and future trends. The report also provides comprehensive Porter’s model analysis on the racing drone market for all six regions namely; North America, Western Europe, Eastern Europe, Asia Pacific, Middle East and the Rest of the world.

Competitive Landscape

The racing drone is a consolidated market comprising moderately small players. Key market players are involved in offering start-to end applications of Racing Drone. Similarly, other business models such as joint venture and market entry strategies are helping prominent vendors to make their presence felt in the racing drone market and increase their product portfolio. The key leading players in the market include Airjugar Technology Co. Ltd., Autel Robotics, Guangzhou Walkera Technology CO. LTD, Hubsan, ImmersionRC Limited, Parrot Drones SAS, RotorX, Spin Master (Air Hogs), Skyrocket LLC (Sky Viper), and YUNEEC.This report also includes the profiles of key racing drone market companies along with their SWOT analysis and market strategies. In addition, these competitive landscapes provide a detailed description of each company including future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launch, new product developments, and other latest industrial developments.

Key Developments in Racing Drone Market:

• In July 2019, DJI developed new racing drone named as first-person view racing drone. The new drone is equipped with high load carrying capacity, less assembly, limited maintenance, and high battery loading capacity. The racing drone features with first person view system and includes goggles, camera, rotor, motor, and battery.  
• In 2018, UVify Inc., launched a new racing drone called ‘Oori’ at CES–2018, a trade show organized by the Consumer Technology Association in the U.S and it is being used for both indoor and outdoor racing.
• In April 2017, Aerix Drones developed new Nano FPV Indoor Drone Racing Package. The new product has high speed and controlling capability, various racing features, and the package includes goggles, battery, and neon racing hoops, blades, and other necessary items.

What Does This Report Provide?

This report provides a detailed understanding of the global racing drone market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.

Market Segmentation:

By Drone Type

• Ready-To-Fly
• Almost Ready-To-Fly

By Application

• Rotorcross
• Drag Racing
• Time Trial

By Component

• Airframe
• Motor
• Cameras
• Propellers
• Others

By Region:

• North America Racing Drone Market 
  • By Country (US, Canada, Mexico)
  • By Drone Type
  • By Application
  • By Component
• Europe Racing Drone Market 
  • By Country (Germany, Russia, UK, France, Italy, Spain, Rest of  Europe)
  • By Drone Type
  • By Application
  • By Component
• Asia Pacific Racing Drone Market 
  • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
  • By Drone Type
  • By Application
  • By Component
• Middle East & Africa Racing Drone Market 
  • By Country (UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa)
  • By Drone Type
  • By Application
  • By Component
• South America Racing Drone Market 
  • By Country (Brazil, Argentina, Colombia, Rest of South America)
  • By Drone Type
  • By Application
  • By Component

Reasons to Buy This Report:

• Market size estimation of the racing drone market on a regional and global basis
• Unique research Usage for market size estimation and forecast
• Profiling of major companies operating in the market with key developments
• Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

• By Segment
• By Sub-segment
• By Region/Country

For more information, contact: [email protected]