Market Highlights:
Toy Drones industry Size is estimated to reach USD 4.62 Billion by 2030, registering a CAGR of 12.98% during 2020-2030.
The toy drone market can earn decent value in the assessment period. Notable companies are focused on building toy drones for consumer applications due to rise in their demand. Toy drones are extensively used for videography and recreational photography, fishing, and hunting and wildlife monitoring can favour expansion of the market soon.
The emergence of next-generation consumer drones having racing and sports application can support expansion of the market soon. The rise in drone adoption can accelerate the market upsurge. The rise in number of drone-related service providers can support expansion of the market. The increase in demand for first-person view (FPV) compatible drones can favour market rise. However, stringent government regulations can hamper the toy drones market growth expansion.
Key Players:
EHang (China), Lockheed Martin Corporation (US), Parrot (France), AeroVironment Inc (US), PrecisionHawk (US), DJI Technology Co Ltd (China), Israel Aerospace Industries Ltd. (Israel), Northrop Grumman Corporation (US)
Market Segmentation:
The segment assessment for the global toy drones market industry is based on sales channel, type, and application.
The type-based segments of the global Toy Drones industry are quadcopters and among others. The quadcopters segment can register the market surge with decent CAGR across the analysis period 2020 to 2028. A rotary drone quadcopter can gain traction, along with rise in demand for drone achieve flight can favor expansion of the market in the years ahead. The better lifting power and effective vertical take-off solution offered by them can offer push to the market rise.
The application-based segments of the global Toy Drones industry are drone racing, recreational photography and videography, and sports among others. The recreational videography and photography segment can dominate the market. The increase in demand for Toy Drones that offer benefits, such as infrared imagery, real-time colour, and external first-person view (FPV) cameras are used to receive real-time images of enhanced videos of enhanced quality that can support market rise. The greater compatibility offered by drones with smartphones and aid users send images on their phones can also promote the market.
The sales channel-based segments of the global Toy Drones industry are direct channel and distribution channel. The distribution channel segment can dominate the global market and earn high CAGR in the analysis period. Post-sale services, such as customizations and repair and maintenance that are provided by eminent distributors can also boost the segment growth.
Regional Analysis:
The regional analysis of the Toy Drones industry is studied for Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa (MEA). In North America, the toy drone market can secure decent share of the global market. In Asia Pacific, the market can register high CAGR across the review forecast period. The existence of different toy drones manufacturers, such as Horizon Hobby LLC and DJI, and Syma among others can propel the market rise in the near future. In addition, the growing adoption of drones by different organizations and different governments across countries, such as; India for military applications can also boost rise of the troy drone market.
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