Racing Drones Market Revenue to Attain USD 493.59 Mn by 2033

14 Oct 2024

Table of Content

1. Racing Drones Market Revenue and Trends 2. Market Overview 3. Report Highlights of the Racing Drones Market 4. Racing Drones Market Trends 5. Regional Insights 6. Racing Drones Market Coverage 7. Market News

Racing Drones Market Revenue and Trends

The global racing drones market revenue surpassed USD 493.59 million in 2024 and is predicted to attain around USD 2,241.60 million by 2033 with a CAGR of 18.31% during the forecast period. The demand for racing drones is increasing due to the rising popularity of drone racing.

Market Overview

A racing drone is a small aerial vehicle with a front-faced camera installed on ultra-speed racing motors for drone racing competitions. A pilot controls this device with a remote control on the drone and through a head-mounted display control. This device is also used in racing competitions like drone racing world cups and multigap drone racing as it has high-speed camera with wide angle features along with high battery voltage; these devices are utilized in defense and military because it is available in different sizes.

Report Highlights of the Racing Drones Market

• By drone type, the RTF segment dominated the market in 2023. The segment's dominance can be driven by an increasing number of racing events, such as the Drone Racing League and Drone World Championship.
•  By component type, the airframe segment led the market in 2023, owing to the increasing demand for lightweight, high-performance frames that can face the rigors of racing.
•  By application, in 2023, the rotor cross segment dominated the market by holding a large market share. The dominance of the segment can be attributed to the rising demand for customized and modular drones that are easy to repair.

Racing Drones Market Trends

FPV Tech Fuelling the Market

Advancements in First-Person View (FPV) systems are a key component fueling the market growth. Affordable FPV goggles along with high-resolution cameras are generating immersive experiences by attracting new amatures and driving the competitive spirit. Additionally, this trend reflects an increasing need for drones particularly designed for FPV racing having features like lightweight and aerodynamic builds.

•  In August 2024, a Russian drone developer announced that it is working on a first-person view (FPV) drone swarm capability as Ukraine had already installed it earlier this year. The drone swarm will be operated from one workstation.

Drone Racing as a Spectator Sport

The thrill of drone racing is attracting audiences. Leagues and tournaments are gaining traction and media attention. This trend generates a need for high-performance drones capable of pushing lines of speed and agility. Furthermore, manufacturers are likely to develop specialized drone models optimized for competition and created to deliver a unique spectator experience.

Rising Popularity of Drone Tournaments in Developed Nations

The popularity of drone racing has been rising in developed countries like the US over the last few years. Drone racing includes operating small racing drones through hard courses at high speeds. The growing interest in drone tournaments as a recreational activity has led to strong market growth. Also, the demand for customized racing drones has increased considerably. Which can lead to market growth further.

Regional Insights

North America dominated the racing drones market in 2023. The dominance of the region can be linked to the rising fan base of drone racing, particularly in the US region, along with growing Competitors' focus on creating more agile, faster, and more specialized drones that can meet the needs of racing enthusiasts. Furthermore, racing events are gaining huge traction in the entertainment and media industry, leading to market expansion.

Asia Pacific is expected to show the fastest growth during the forecast period. The growth of the region can be credited to the growing availability of drone racing accessories and kits coupled with a rise in the number of drone racing events, supported by a strong framework of regulations. Moreover, the region's increasing focus on technological advancements can contribute to the expansion of the racing drone market.

Racing Drones Market Coverage

Market News

• In March 2024, the Drone Racing League (DRL), known as a top professional drone racing organization globally, unveiled ‘DRL's Women Taking Flight’. This program is meant to empower women in sports, technology, and aviation. The U.S. Air Force, a reliable partner of DRL, joined as a founding supporter.
• In September 2022, The Drone Racing League (DRL), the world's premier professional drone racing property, announced a partnership with Google Cloud to reinvent a new era of tech-driven sports and win over emerging developers.

Market Segmentation

By Drone Type

• RTF
• BNF
• ATF

By Component Type

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

By Application

• Rotor Cross
• Drag Racing
• Time Trial

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