Consumer Camera Drones Market Size, Share, Growth, and Industry Analysis, By Type (Fixed Wing Systems, Multirotor Systems and Other Systems), By application (Ariel Photography, Surveillance, Precision Agriculture and Other), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Consumer Camera Drones Market Report Overview

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The global consumer camera drones market size is expected to be USD 6350.6 million in 2022 and is projected to touch USD 34239.05 million by 2031, exhibiting a CAGR of 20.6% during the forecasting period.

Unmanned aerial vehicles (UAVs), such as consumer camera drones, are frequently more affordable, lighter, and smaller than those utilised by the military or other commercial or government organisations. Consumer drones are primarily utilised for leisure activities like photography and videography. Set wing systems are a class of aircraft that have their wings fixed in a specific position, giving the craft stability and lift. Gyrocopters and helicopters are the most popular fixed-wing drone models utilised for filmmaking or photography. Single-rotor or multi-rotor fixed-wing drones are both possible; they operate similarly but have various design configurations.

A flight control system with more than one rotor is called a multirotor system. It is utilised in unmanned aerial vehicles, fixed-wing aircraft, and helicopters (UAVs). The term "multirotor" describes both the quantity of rotors and their placement within the vehicle. It can be divided into a single main rotor or a compound main rotor with one or more tail rotors in the case of helicopters. A flight control system with more than one rotor is called a multirotor system. It is utilised in unmanned aerial vehicles, fixed-wing aircraft, and helicopters (UAVs). The term "multirotor" describes both the quantity of rotors and their placement within the vehicle. It can be divided into a single main rotor or a compound main rotor with one or more tail rotors in the case of helicopters.

COVID-19 Impact: Lower Revenue Targets to Hamper Market Growth

The sudden spike in CAGR is attributed to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. The global COVID-19 pandemic has been unprecedented and staggering, with consumer camera drones experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.

Without a doubt, the pandemic has presented certain difficulties for businesses in the consumer goods industry. Importantly, supply chain disruptions have appeared all over the world, and according to research from the Institute for Supply Management, organisations have had to lower their revenue targets by an average of 23%. Increased customer demand has forced some industries, like consumer camera drones and domestic cleaning, to deal with the generally advantageous challenge of maintaining their supply. However, other companies have experienced abrupt declines in sales and noticeably less foot traffic at retail establishments. Due in large part to COVID-19, the transition to a world that is primarily online has been expedited.

Businesses had to adopt digital-first strategies and become more adaptable with their product offerings. Companies that never imagined going online now have to do so. In order to survive COVID-19, the consumer camera drones market also made the decision to go online, where they showcased their various drones on the best websites and shopping platforms. However, because of the lockdown, there was a decline in market sales as the majority of the events were cancelled or postponed.

LATEST TRENDS

"Aerial Filmmaking and Surveillance to Boost Market Growth"

Aerial filming has many benefits, including the ability to record unusual views, access to locations that are difficult to reach by land, and spectacular aerial shots of events or activities. Drone aerial filming is also popular for political and wedding occasions. The surveillance application is anticipated to experience significant expansion over the course of the projection period as a result of tightening safety requirements at the federal level and rising consumer concern about personal security worldwide.

Consumer Camera Drones Market Segmentation

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• By Type

Based on type; the market is divided into fixed wing systems, multirotor systems and other systems.

In terms of product, fixed wing systems is the largest segment.

• By Application

Based on application; the market is divided into ariel photography, surveillance, precision agriculture and other.

In terms of application, ariel photography segment is the largest segment.

DRIVING FACTORS

"Rising Demand for Commercial Sectors to Propel Market Growth"

Applications for precision agriculture are likewise anticipated to experience significant increase over the next eight years, in part as a result of technological advancements and drones becoming more widely available. Consumer camera drones are now more effective for business applications including deliveries, surveillance, and agriculture owing to technological developments.

"Usage of Drones in Healthcare System to Propel Market Growth"

A mechanism for delivering medicine directly to patients who cannot travel long distances due to inaccessible places or difficult terrain has been established by the healthcare infrastructure of various regions. Numerous industries, like mining (precious metals), oil & gas exploration (drone footage inspection), forestry (forestation inspection), and others have a great deal of promise for these kinds of applications. Affordable cost of the drones is also one factor driving consumer camera drones market growth.

RESTRAINING FACTORS

"Battery Life of Drones to Limit Market Growth"

The drone's flight time is constrained by its battery life; to increase that time, additional batteries may need to be installed to the drone. The battery life is impacted by cold weather. The drones can be effective in the correct circumstances, but occasionally internal and external variables affect their effectiveness. UAVs operate at low speeds, which makes them slower than manned aircraft.

Consumer Camera Drones Market Regional Insights

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"North America to Dominate Market Due to Rising Popularity of Drones"

The global consumer camera drones market is dominated by North America. The expansion of this area can be linked to the rise in popularity of drones equipped with cameras and other ancillary equipment. Additionally, new FAA (federal aviation administration) regulations that have made it simpler for people to fly these devices are likely to boost regional product demand throughout the course of the forecast year. North America is expected to experience significant growth over the next eight years due to increased consumer disposable income and rising consumer electronics penetration in emerging nations like China, India, and Japan. Growing popularity of drones among hobbyists and enthusiasts is also one of the reasons for market growth and as a result North America has largest consumer camera drones market share.

KEY INDUSTRY PLAYERS

The main market participants want the product to become popular so that both employers and employees can easily manage their funds. Additionally, establishing elements that would encourage people to save money for long-term goals, avoid living paycheck, and also save money for emergencies Additionally, after retiring, to control costs and expenses. The report also covers technical and environmental outcomes, company and region-specific studies, and the effects and hazards of growing industries. Given the occasionally changing circumstances of consumer camera drones market players, the information's facts may alter.

List of Market Players Profiled

• DJI Innovations (China)
• Parrot S.A (France)
• Denel SOC (France)
• Aurora Flight (U.S.)
• Draganfly (U.S.)
• Lockheed Martin Corporation (U.S.)
• BAE Systems (England)
• General Dynamics Corporation (U.S.)
• Elbit Systems Ltd (India)
• Northrop Grumman Corporation (U.S.)

REPORT COVERAGE

The research gives in-depth details on the market share for dielectric powders as well as industry difficulties. The report gives crucial information about the prospects for industry business. Businesses can have a better understanding of the industry's general growth and decline by looking at the market size. Consumer camera drones market participants are having trouble finding and keeping employees, increasing reshoring, and adjusting to COVID-19. The difficulties the sector is currently facing and the companies addressing them are highlighted in the final product. The study offers in-depth analysis of the market shares, business plans, product lines, legal standing, patent landscape, and manufacturing prowess of the major players.