Toy Drones Market Size, Share, Growth, and Industry Growth, By Type (Fixed Wing Type, Rotor Type, and Flapping Wing Type), By Application (Commercial and Civil), Regional Forecast To 2028

Updated On: 13 March 2023

REPORT OVERVIEW

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The global toy drones market size is expected to be USD 488.9 million in 2021 and the market is projected to touch USD 1230.4 million by 2028, with a growing CAGR of 13.6% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with toy drones experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

Toy drones have received huge traction in the global market among youngsters and elders. These drones are becoming smarter and are forecasted to witness steady manufacturing globally. Toy drones are made smarter by using programmed intelligence to direct their movements and make them react to input in order to provide real-time interaction and feedback. It is now more affordable to include a microcontroller in the toy than previously. These microcontrollers support Bluetooth and Wi-Fi, enabling linked toys to use cellphones to access a variety of internet services.

Consumer drones of the newest generation are currently employed extensively in drone competitions and sports. Additionally, as the use of drones grows, there will be a parallel rise in the number of businesses offering drone-related services. Further, the military uses toy drones as a key tool in some areas to gather crucial data. Moreover, the inclination of the young generation to use drones for photography and videography is most likely to elevate growth in the market. 

COVID-19 Impact: Halt in Production Rate Hampered Growth during Lockdown

The pandemic outbreak resulted in the disruption of various markets. The manufacturing and supply of the products were kept on hold, which affected the growth rate of the market. Additionally, the manufacturing industries were shut down due to strict restrictions imposed by the government to avoid any further spread of the virus. The shutdown of manufacturing industries impeded production, which hampered toy drones market growth. The countries increased the cost of the product owing to lower production rates. The market witnessed a downfall in product demand backed by various restricting factors. 

LATEST TRENDS

"Rising Trend of Aerial Photography to Augment Growth"

The interest of youngsters in photography and aerial photography is estimated to propel the demand for the product in the global market. The steady adoption of autonomous flight technology is backed by the presence of the product able to fly without any user guidance. The use of drones in media and entertainment industries for shooting aerial views is expected to increase the demand for the product. Moreover, the use of drones in the film industry for cinematography, aerial photography, and adding special effects is estimated to elevate the growth of the market in the forecast period. The integration of AI assists the suppliers of the product in collecting and utilize the visual environmental data with the help of sensors present in the toy drones. These factors are forecasted to propel the toy drones market growth.

Segmentation

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• By Type Analysis

By type, the market is segmented into fixed wing type, rotor type, and flapping wing type.

• By Application Analysis

Based on application, the market is classified into commercial and civil.

DRIVING FACTORS

"Constant Technological Advancements to Foster Product Demand"

The market is anticipated to grow in the forecast period owing to the technological advancements taking place in the toy drones market. The steady adoption of autonomous flight technology is increasing the demand for the product. Rapid advancements in the product will emerge due to collaborations with other technologies. The roads and railways track operator's experience benefits from using 3D modeling and drone software at the design stage as it offers more convenience. These drones are also easy to operate, which increases their adoption rate in the market. 

"Steady Product Adoption to Stimulate Market Growth"

Flying drones has become a new outdoor activity among youngsters, which is expected to foster toy drones market growth. Drones, which are seen to be fantastic tools for teaching kids about robotics, programming, mechanics, photography, and electronics while having a great time, will accelerate market growth. The expansion of the market will be aided by increased accessibility to consumers and enterprises due to the use of similar devices, such as smartphones. The market will continue to develop as drone hardware becomes more readily produced and purchased. The negative effects of drone use, such as privacy invasion, safety concerns, and a lack of flying zones, are the market's key obstacles.

RESTRAINING FACTORS

"Strict Government Regulations to Hinder Growth"

The steady adoption of the product, the government made new policies for the use of the product. The government of India restricted the use of civil drones. Additionally, the expanding adoption of technology imposed other countries to make new policies and regulations on the use of such consumer goods. Various restrictions by the government to impede growth in the market. 

REGIONAL INSIGHTS

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"North America to Lead Global Market Owing to the Development in Product Technology"

North America is forecasted to stimulate a major part of the toy drones market share owing to the rising initiatives by the government in the development of drone technology coupled with the expanding demand from various businesses. 

Asia Pacific is projected to hold a commendable part of the toy drones market share due to the easy availability of cost-efficient drones and the rising production of lightweight drones. 

KEY INDUSTRY PLAYERS

"Key Players Focusing On Innovative Technology Development to Grow in Market"

Businesses are working on developing new technology to offer more easy ways to increase product portfolio. Companies also use innovative practices and techniques to create new technologies. Companies are focused on acquisitions and investments to increase sales. The marketplace is competitive as a result of the existence of numerous huge firms. An extensive worldwide consumer base and the execution of operations through specialized distribution networks are other characteristics. The key companies strive to gain a higher market share by launching new products. 

List of Market Players Profiled

• AeroVironment (U.S.)
• Parrot (France)
• JJRC Toy (China)
• Prox Dynamics (Norway)
• Skyrocket Toys (U.S.)
• Syma Toys (China)
• Mota Group (U.S.)
• Guangdong Cheerson Hobby Technology (China)
• Horizon Hobby (U.S.)
• Aerix Drone (U.S.)
• Hubsan Technology (U.S.)
• Acumen Robot Intelligence (U.S.)
• UDIRC Toys (China)
• Extreme Fliers (U.K.)
• Swarm Systems (Germany)
• WLtoys (Germany)
• TRNDlabs (Netherlands)
• XK Innovations (U.S.)
• Drona Aviation (India)

REPORT COVERAGE

An overview of the product is provided along with the product description. Numerous industry elements are included in the research.

• The pandemic's aftereffects and the subsequent lockdown.
• The market's most recent trend is currently fueling expansion.
• The factors are most likely to stimulate market growth.
• The reasons the market is expected to witness stagnancy in growth.
• A comprehensive regional analysis of the market is conducted.
• Significant players and their business offices are also covered in the article.