Rapid advances in technology and economies of scale have enabled consumer unmanned aerial vehicles (UAVs), commonly known as drones, to be prototyped and commercial launched at an affordable price. Consumer drones are not only attracting the usual flight hobbyists and enthusiasts, but are also getting into the hands of many who are willing to pay for a fun experience, experimenting with taking breathtaking aerial shots, or generating a side income.
According to a new report from Tractica, consumer drone sales will continue to surge over the next several years, with global annual unit shipments increasing more than tenfold from 6.4 million in 2015 to 67.9 million by 2021. While average selling prices (ASPs) for drones will continue to decline sharply during that period, the market intelligence firm anticipates that total revenue will increase from $1.9 billion in 2015 to $5.0 billion in 2021.
“The consumer drone market continues to grow at a rapid pace,” says research analyst Manoj Sahi. “A number of prominent companies are investing in consumer-grade drone technology, and the hardware and software capabilities of drone products are becoming more robust over time, enabling new applications for consumers.”
Sahi adds that, while aerial imaging is the primary application currently being utilized by consumers, the use of drones for aerial games and recreation activities will grow over the next few years as the UAVs’ technological capabilities continue to expand. Over time, drones will also be integrated into virtual reality (VR) and augmented reality (AR) experiences.
Tractica’s report, “Consumer Drones”, examines the global market trends for consumer drones and provides 7-year market sizing and forecasts for consumer drone shipments and revenue during the period from 2015 through 2021. The report focuses on crucial market drivers and challenges, in addition to assessing the most important technology issues that will influence market development. In total, 73 key and emerging industry players are profiled. Market forecasts are segmented by world region and by airframe type. An Executive Summary of the report is available for free download on the firm’s website.