GLOBAL FPV DRONE MARKET SIZE (2023 – 2030)

The Global FPV Drone Market is estimated to be worth USD 335.62 Million in 2023 and is projected to reach a value of USD 1349.66 Million by 2030, growing at a CAGR of 19% during the forecast period 2023-2030.

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Due to the rising demand for immersive and real-time drone encounters as well as the rising popularity of drones, the market for FPV (First-Person View) drones has grown significantly in recent years. FPV drones are remote-controlled drones with cameras that send a live video feed to a monitor or headset worn by the operator, giving the operator a first-person view of the drone's flight. Some of the biggest FPV drone users are in the entertainment and sports sectors, especially for racing and aerial photography.

FPV drone racing has gained popularity as a sport all over the globe, with competitive races taking place in different nations. Many fans have built their own unique FPV racing drones as the sport has grown in popularity. Professional photographers and videographers use FPV drones to produce breath-taking aerial footage, which is another common application for these devices.

Lawful restrictions and worries about security and privacy are just a few of the difficulties the business must overcome. To guarantee compliance and user safety, many nations forbid the use of FPV drones in public areas. Problematic is the use of drones for surveillance and data gathering, especially in sensitive locations like military bases or private property.

In general, the demand for immersive and real-time drone experiences in the entertainment and sports industries as well as the increasing use of drones in a variety of business applications are driving the significant growth of the FPV drone market in the upcoming years. 

Global FPV Drone Market Drivers:

The increasing popularity of FPV Drone Racing is boosting the market growth

The popularity of FPV drone racing is a major driver of the global FPV drone industry. The popularity of FPV drone racing, a comparatively new sport, has greatly increased recently, especially among younger consumers. Tiny, lightweight drones compete in races through a course that is typically delineated by obstacles like barriers.

The thrill and exhilaration that FPV drone racing offers are one of its attractions. The drone's camera gives the pilot a first-person perspective so they can experience the exhilaration of swift flight and manoeuvre through confined areas with uncanny accuracy. Many sports fans are drawn to the activity and are ready to spend money on pricey drones because of the immersive experience.

The accessibility of FPV drone racing is another factor in its appeal. In contrast to conventional motorsports, which necessitate a sizable investment in facilities and equipment, FPV drone racing can be performed almost anywhere with a modest course and a few challenges. As a result, numerous local and regional racing leagues have been established, helping to further advertise the activity and increase demand for FPV drones.

The increasing adoption of Drones in Commercial Applications is fuelling the market demand

The growing use of drones in numerous business applications is another important factor boosting the global FPV drone market. Drones are employed in many sectors, including oil and gas, mining, agribusiness, construction, and others. Drones are frequently used to finish jobs that were previously impossible or extremely difficult to finish using conventional methods.

Real-time data and insights provided by drones are one of the reasons influencing their rising use in commercial applications. Drones with sophisticated sensors and cameras can take high-definition pictures and data that can be used for a variety of tasks, including asset monitoring and infrastructure inspection. Machine learning algorithms can be used to evaluate and process this data to find patterns and anomalies, which can enhance decision-making and streamline procedures.

Drones' capacity to increase safety and lower costs is another factor contributing to their growing use in business applications. Drones can be used to carry out dangerous human jobs, like inspecting high-voltage power lines or keeping an eye on the state of bridges and other infrastructure. Additionally, using drones can be less expensive than using conventional methods, especially in fields like agriculture where using drones to watch crops and maximise yield can be done without the use of manual labour.

Global FPV Drone Market Challenges:

The regulatory and legal concerns regarding the use of drones present one of the biggest challenges to the global FPV drone market. Governments all over the world are introducing laws to address concerns about safety, security, and privacy as drones become more well-known and frequently used. It can be challenging for makers and users of FPV drones to negotiate the regulatory environment due to the complexity and country-to-country variation of these regulations. Additionally, worries about drones' potential for malicious use have been voiced, which has prompted more surveillance and stricter regulations on their use in some places.

Global FPV Drone Market Opportunities:

The ongoing developments in drone technology represent a substantial opportunity for the global FPV drone market. Drones can now complete more challenging tasks and operate in a broader variety of environments as a result of advancements in fields like artificial intelligence, machine learning, and autonomous navigation. As a result of these developments, the cost of drone parts has also decreased, making it simpler for manufacturers to create high-quality drones at lower prices. These technologies will surely develop further, opening up new possibilities and uses for FPV drones while also broadening the market. 

Global FPV Drone Market Recent Developments:

• In May 2020, SZ DJI Technology Co. Ltd. unveiled the Matrice 300RTK, their most sophisticated commercial drone platform, as well as the Zenmuse H20 Series, their first hybrid camera line. The platform provides a flight time of up to 55 minutes and has 6 directional sensing and positioning systems. The industrial tool standards for aerial inspection and imaging are redefined by this combo.

• In April 2020, improved flight performance, 12-megapixel images, and 4K video at 60 frames per second are all characteristics of the DJI Technology Co. Ltd. Mavic Air 2 Drone. In addition to having a Quad Bayer 12" camera and slow motion powers of 4X and 8X in 1080p at 120 or 240 frames per second, it also has a Geofencing system. Through deep learning, the Mavic Air2 will transform the drone industry.

GLOBAL FPV DRONE MARKET REPORT COVERAGE:

Segmentation Analysis

Global FPV Drone Market - By Component Type:

• FPV Goggles

• FPV Remote Controllers

• Cameras

• Battery

• Flight Controller

• Airframe

• Motor

• Processors

• Others

In 2020, the camera section accounted for the largest portion of the global FPV drone market. This is due to the rise in popularity of high-end, high-resolution cameras that can record crisp, clear, and detailed pictures and videos.

Since technological developments are enabling the creation of more sophisticated and feature-rich flight controllers, the flight controller market is also anticipated to experience substantial growth in the upcoming years.

According to the research, demand for FPV goggles and remote devices is being driven by the growing popularity of FPV drone racing as a sport. High-end cameras, flight controllers, and batteries are in high demand as a result of the expanding business use of drones.

Manufacturers are concentrating on creating lightweight, robust, and efficient components to enhance the overall performance of FPV drones, so the airframe and motor sectors are anticipated to grow.

The processor market is also anticipated to expand as more sophisticated and clever drones become available due to developments in AI and machine learning.

Global FPV Drone Market - By Application:

• Rotor Cross

• Drag Racing

• Time Trail

• Others

According to the application, the rotor cross segment is anticipated to dominate the worldwide FPV drone market. Rotor cross is a sport that includes racing FPV drones through an obstacle course. It has gained popularity recently, which has increased the demand for high-performance drones and associated parts.

Since technological developments are making it possible to create drones that are faster and more agile, the drag racing market is also anticipated to experience significant growth.

Since drones are used for time trials in a number of sectors, including agriculture, mining, and construction, the time trial market is also anticipated to expand. Overall, it is anticipated that the global FPV drone market will continue to expand across all application segments due to technological innovation and advancements.  

Global FPV Drone Market - By End-User:

• Commercial

• Aerospace & Defense

• Consumer Electronics

• Healthcare

• Others

According to end-user, the commercial sector is anticipated to account for the majority of the worldwide FPV drone market.

As drones are used for military operations such as surveillance, intelligence gathering, and other military uses, it is anticipated that the aerospace and defence sector will see substantial growth.

In terms of market insights, the consumer electronics market is also anticipated to expand, as the demand for high-performance drones and associated parts is being driven by the arising popularity of FPV drone racing and other leisure-related applications.

Given the use of drones in healthcare delivery and other uses, the healthcare sector is also anticipated to escalate. Overall, it is anticipated that the arising use of FPV drones across numerous industries and applications will fuel further development in the market for FPV drones across all end-user segments.

Global FPV Drone Market - By Region:

• North America

• Europe

• Asia Pacific

• Middle East

• Latin America

North America is predicted to hold the largest regional share of the worldwide FPV drone market. This is because there are important players in the region and because more and more businesses, including those in the transportation, building, and agricultural sectors, are using drones.

The Asia Pacific area is projected to rise significantly as well because there are numerous emerging economies and a sizable consumer electronics market there.

The region of Europe is projected to grow as a result of the increased use of drones in industries like agriculture and transportation, as well as the creation of sophisticated drones and associated components by important regional players.

Additionally, the Middle East and Latin America are anticipated to see an increase in drone use as security, surveillance, and other applications become more widespread there.

It is anticipated that the global FPV drone market will grow consistently across all regions due to the increasing use of drones across numerous industries and applications. 

Global FPV Drone Market Key Players:

1. YINYAN Model Tech MFT

2. Airjugar Technology Co. Ltd.

3. Autel Robotics

4. Eachine

5. Hubsan Immersion RC Ltd.

6.  Parrot Drones SAS

7.  Rotor X

8.  Skyrocket LLC

9. UVify Inc.

10. Yuneec