The introduction of various racing drone leagues has contributed positively to the growth of the racing drone market. The competitive rivalry intensifies with SZ DJI Technology Co., Ltd., Parrot S.A., Guangzhou Walkera Technology Co., Ltd., Hubsan, Yuneec International Co. Ltd., And others operating in the market. Drone racing consists of custom-made quadcopters with high-resolution cameras used for racing purposes, with first-person view (FPV) facilities using head-mounted displays or goggles. Generally, pilots monitor the video feed from the cameras and control the motion of the drones accordingly in pre-defined race courses.
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Market Dynamics
The introduction of various racing drone leagues has contributed positively to the growth of the racing drone market, coupled with the meteoric rise in popularity of such sporting events on a global and regional scale.Several organizations and competitions are already involved in the industry, with the events being streamed on major television networks and sports channels. Multi GPU, Drone Racing League, US National Drone Racing Championships, and World Drone Prix are some of the drone racing leagues held on an annual basis, with world-class drone pilots competing in such events.The formation of racing commissions and associations, such as the USDA Association, Quadcopter Aerial Racing Organization and Promotion (QAROP), and the British FPV Racing Association, have provided the racing drones market with a form of legal authorization and framework to grow and evolve in an assuring manner.
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Segment Analysis
The global racing drone market is segmented into Ready-to-Fly/Ready-to-Run (RTF/RTR) and Almost-Ready-to-Fly (ARF) segments.The ready-to-fly/ready-to-run (RTF/RTR) segment is expected to grow at a robust rate owing to high customer interest, with most buyers opting to purchase the entire kit along with the drone and receiver.The companies are also thus more focused on the launch of new products in the ready-to-fly segment to strengthen their market position. For instance, in April 2017, Aerix Drones announced the start of the new Nano FPV Indoor Drone Racing Package, which includes a ready-to-race (RTR) drone, goggles, a 5-pack of 12-inch glowing neon racing hoops, and extra batteries and blades for replacement.
Competitive Landscape
The racing drone market is highly competitive owing to a rapid rate of market expansion, with companies focused on product innovation and technology development to maintain their competitive edge over others. The significant market players include SZ DJI Technology Co., Ltd., Parrot S.A., Guangzhou Walkera Technology Co., Ltd., Hubsan, and Yuneec International Co. Ltd.
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