(MENAFN- PR Newswire) DUBLIN, July 12, 2023 /PRNewswire/ -- The "racing drone market share, size, trends, industry analysis report, by drone type , by component type, by application , by region, segment forecast, 2023 - 2032" report has been added to
ResearchAndMarkets.com's offering.

The global racing drone market size is expected to reach USD 5,292.79 million by 2032

This report delves into the current landscape of the racing drone market, analyzing the driving factors, industry trends, and future growth prospects.

The global demand for racing drones has witnessed significant growth due to their increasing utilization across various sectors, including sports, industrial inspection, and construction. The availability of a reliable supply chain for racing drones in different industries has further fueled this demand, making racing drones a popular choice worldwide.

One of the key factors driving their adoption is the affordability of ready-to-fly (RTF) drones, which is expected to facilitate their entry into emerging industries. Additionally, racing drones have found applications in landscape surveys and agricultural terrain evaluations, expanding their versatility in diverse scenarios.

The growing need to minimize human involvement in driving during racing events, thereby reducing operating time and costs, has emerged as a key driver for the drone industry, including the racing drones. This factor eliminates the need for designing and implementing safety structures. With the pilot operating the drone via a controller, the risk of accidents and human casualties is significantly reduced, further fueling the growth of the racing drone.
In addition to recreational, racing drones are used for commercial purposes such as aerial photography and videography, inspection and monitoring, and search and rescue operations.
Incorporating artificial intelligence (AI) into drones has enabled drone suppliers to gather and use visual and environmental data through sensors attached to drones. Computer vision is a vital component of AI-powered drones, allowing them to detect objects in the air and collect and analyze data from the ground. In conjunction with sensor analysis, data processing, and drone networking capabilities, AI can enable drones to collaborate with other technologies, such as 3D printers and robots.
For instance, In July 2022, Microsoft's launch of a simulator for AI training in drones can facilitate software development and training and provide insights into the impact of factors such as wind and rain on drone flight and battery life. The benefits of drones propelling the market.
Racing Drone Market Report Highlights

• RTF segment accounted for the largest revenue share in the market and expected to continue its dominance over the forecast period. Because RTF type of drones are popular in beginners and also these drones are equipped with high performance motors and controllers.
• Airframe segment is accounted for the dominated segment in the market, it's the frame that holds the all the components together and its responsible for the drone's performance, stability and maneuverability.
• Rotor cross segment dominated the market and expected to continue its dominance during the forecast period, raising the events in rotor cross racings and also competitors are developing the new products and improving their products.
• North America dominated the market in 2022 and likely to continue the dominance in the market, due to North America is home for new startups in the drone's industry also in United State also hosting some racing events and its attraction for media and entertainment industry.

Key Attributes:

Report Attribute	Details
No. of Pages	114
Forecast Period	2023 - 2032
Estimated Market Value (USD) in 2023	$959.81 million
Forecasted Market Value (USD) by 2032	$5292.79 million
Compound Annual Growth Rate	20.9 %
Regions Covered	Global

Racing Drone Market Dynamics

Drivers and Opportunities

• Increasing adoption of drones for commercial purposes
• Advancements in drone technology

Restraints and Challenges

• Complexity in making DIY racing drones

Business Analysis

• Porter's Five Forces Analysis
• PESTEL Analysis
• Racing Drone Market Component Type Trends
• Value Chain Analysis
• COVID-19 Impact Analysis

Company Profiles

• Airjugar Technology Co. Ltd.
• Autel Robotics
• DJI
• eachine
• Guangzhou Walkera Technology CO. LTD
• Hubsan
• ImmersionRC Limited
• mjxrc.net
• Parrot Drones SAS
• RotorX
• Spin Master (Air Hogs)
• Skyrocket LLC (Sky Viper)
• UVify Inc.
• 3D Robotics
• SkyTech
• Lumenier
• GoPro
• Storm
• Gemo Copter
• TBS
• YUNEEC

Scope of the Report

Drone Type Outlook (Revenue - USD Million, 2019 - 2032)

• RTF
• BNF
• ATF

Component Type Outlook (Revenue - USD Million, 2019 - 2032)

• Airframe
• Motors
• Camera/Sensors
• Propellers
• Battery
• Flight Controller
• Others

Application Outlook (Revenue - USD Million, 2019 - 2032)

• Rotor Cross
• Drag Racing
• Time Trial

For more information about this report visit

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo:

SOURCE Research and Markets

MENAFN12072023003732001241ID1106594439