Racing Drones Market Size, Share, and Trends 2024 to 2034

Racing Drones Market Size and Forecast 2024 to 2034

The global racing drones market size is accounted for USD 493.59 million in 2024 and is projected to reach around USD 2652.04 million by 2034, growing at a CAGR of 18.31% from 2024 to 2034. The increase in drone technology is the key factor driving the market growth. Also, the rising accessibility of FPV racing along with the growing utilization of drones in sports is expected to fuel the market growth further.

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Racing Drones Market Key Takeaways

• North America dominated the market with the largest market share of 37% in 2023. 
• Asia Pacific is expected to show the fastest growth during the forecast period. 
• By drone type, the RTF segment dominated the racing drones market in 2023. 
• By drone type, the ATF segment is expected to witness the fastest growth over the forecast period.
• By component type, the airframe segment led the market in 2023 by holding the largest market share.
• By component type, the camera/sensors segment is expected to grow at a significant rate during the projected period.
• By application, in 2023, the rotor cross segment dominated the racing drones market holding the market share. 
• By application, the drag racing segment is expected to grow significantly during the studied period.

U.S. Racing Drones Market Size and Growth 2024 to 2034

The U.S. racing drones market size is evaluated at USD 136.97 million in 2024 and is projected to be worth around USD 750.86 million by 2034, growing at a CAGR of 18.52% from 2024 to 2034.

North America dominated the racing drones market in 2023. The dominance of the region can be attributed to the increasing Competitors' emphasis on creating more agile, faster, and more customizable drones that can fulfill the needs of racing enthusiasts. Furthermore, racing events are becoming a key attraction in the entertainment and media industry to meet the demand generated by the rising fan base, particularly in the US region.

• In August 2023, Rotor Technologies, a U.S.-based company, launched the largest agricultural unmanned aerial vehicle (UAV) drone currently available for order. Named the Sprayhawk, this UAV boasts a significant 110-gallon (416.3 liters) capacity. The first batch of Sprayhawks will be delivered in spring 2025.

Asia Pacific is expected to show the fastest growth during the forecast period. The growth of the region can be linked to the increase in the number of drone racing events, backed by a strong framework of regulations that ensures safety in sport. Moreover, the growing availability of drone racing accessories and kits makes it more accessible to end users at all levels. The growing region's focus on technological advancements can further help in the expansion of the racing drones market.

• In March 2024, the Ultrasonic Thickness Measurement (UTM) payload for the Elios 3 drone was introduced at Flyability's headquarters in Paudex, Switzerland. Flyability is the market leader in restricted space drones. Developed with Cygnus Instruments in collaboration, this cutting-edge solution strengthens industries throughout Asia.

Market Overview

A racing drone is a small unmanned aerial vehicle with a front-faced camera employed on high-speed racing motors for drone racing competitions. A controller controls this device with a remote control on the drone through a head-mounted display control. This device is also utilized in racing competitions like drone racing World Cups and Multigap drone racing because it has high battery voltage, high speed, and a camera with wide angle features. These devices are used in defense and the military as they are available in different sizes.

AI Impact on Drone Technology

The implementation of AI into drone technology will substantially boost the growth of the racing drones market. AI-enhanced autonomy in drone technology is the primary factor that impacts the market positively. Furthermore, AI algorithms enable drones to set hard tasks independently, like navigating through difficult environments and avoiding hurdles without human intervention. This enhances the intelligence of drones, enabling them to analyze information in real time to make instant decisions.

•  In July 2024, many startups in Ukraine were developing artificial intelligence (AI) systems to help fly a vast fleet of drones, taking warfare into uncharted territory as a combatant race to gain a technological advantage in battle.

Racing Drones Market Growth Factors

• Rising interest and participation in drone racing as a sport is expected to boost market growth shortly.
• The racing drones market presents numerous opportunities for businesses and entrepreneurs, contributing to further market growth.
•  Increasing market growth of aftermarket parts and accessories will likely contribute to the market expansion soon.

Market Scope

Market Dynamics

Driver

Rise of Racing Drone Events and Leagues Globally

The increasing racing drone events and leagues globally can help in expansion of racing drones market. As drone racing gains recognition on a global scale the establishment of high-profile competitions and professional leagues can attract media coverage, sponsorships and a broader audience. Additionally, this global growth can also promote the sport and propel the demand for racing drones and training programs.

• In July 2024, -The Abu Dhabi Autonomous Racing League (A2RL) announced the next phase of its challenge with the Drone Champions League (DCL), the world's premier professional drone racing organization. The A2RL Drone Race continues to innovate the frontiers of autonomous technology, combining human skill with advanced developments in autonomous flight.

Restraint

High Maintenance Costs

High maintenance costs related to the sport can significantly impact the racing drones market growth of racing drones. Market investment in a competitive racing drone coupled with the required accessories like FPV goggles and controllers can be quite expensive for newcomers. Moreover, the cost of regularly maintaining equipment to stay competitive, along with the crash-related repairs, can add financial burden, leading to market hindrance.

Opportunity

Continuous Development and Launches of Commercial Drones

Commercial drones have changed various industries due to their cost-effective maintenance, ease of deployment, and hovering capabilities. They also find applications in remote sensing, wireless coverage, goods delivery, security, civil infrastructure inspection, and precision agriculture. Furthermore, Commercial drone manufacturers are increasing their product offerings to gain customers' attention from various sectors.

•  In February 2024, InsideFPV, a leading deep-tech drone manufacturing company, announced the launch of the Elevate V1 Series under the Made in India initiative. The drone features a 20-megapixel camera, a three-axis gimbal camera stabilization system, and 4K high-definition video recording.

Drone Type Insights

The RTF segment dominated the racing drones market in 2023. The dominance of the segment can be attributed to the increasing demand for "Ready-To-Fly" drone type for enthusiasts and beginners. RTF drones require minimal setup before flight, which makes them an ideal choice for amateur pilots and seasoned enthusiasts searching for immediate aerial action. Additionally, advancements in battery life, speed, and agility have increased the demand for RTF drones.

The ATF segment is expected to witness the fastest growth over the forecast period. The growth of the segment can be linked to the increasing number of racing events like the drone Champions League, Drone Racing League, and Drone World Championship, which bring together pilots across the globe to compete, thereby driving the expansion of ARF drones. Also, advancements in the ATF segment have improved the flying experience along with the development of pilots' skills and racing tactics.

Component Type Insights

The airframe segment led the racing drones market in 2023 by holding the largest market share. This is because of the increasing demand for lightweight, high-performance frames that can face the rigors of racing. The segment has fulfilled this demand by developing new and enhanced frame designs that provide better performance, customization options, and durability. Moreover, the airframe segment is an important aspect of racing drones, which can influence the drone's maneuverability.

•  In October 2023, Michigan Central and the Michigan Department of Transportation (MDOT) unveiled the launch of Detroit’s Advanced Aerial Innovation Region, an initiative that will place the state as a leader in next-generation aerial mobility and drone technology by attracting startups and stimulating the adoption of drone technology.

The camera/sensors segment is expected to grow at a significant rate in the racing drones market during the projected period. The growth of the segment can be credited to the increasing need for obstacle avoidance, navigation, and data collection. Drones can utilize optical sensors like red, green, and blue, as well as infrared cameras and stereo cameras to gather visual data. Furthermore, cameras and sensors offer visuals to pilots and record images as evidence.

•  In June 2024, Leaker announced release dates for the DJI Neo pocket-sized drone and DJI Osmo Action 5 Pro action camera. The company had been considered to have at least two new drones in the advanced stages of development.

Application Insights

The rotor cross segment dominated the racing drones market by holding of the market share in 2023. This is because of the growing popularity of rotor cross as a competitive sport. The trend of Rotor cross competitions is distinguished by its high-stakes and thrilling nature. These drones have features that improve battery life, speed, and maneuverability, fulfilling the high demand of sports. Also, the growth of the segment can be boosted by the rising number of organized competitions and events.

The drag racing segment is estimated to grow significantly during the studied period. The growth of the segment can be driven by increasing autonomous drone racing programs and technological advancements in drone technology, like improved battery life, camera quality, and superior motor speed. Additionally, the popularity of drone racing is increasing due to the establishment of various research programs in the racing drones market.

Racing Drones Market Companies

• Airjugar Technology Co. Ltd.
• Autel Robotics
• DJI
• machine
• 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 and YUNEEC

Recent Developments

• In March 2023, Autel Robotics Released the “EVO II Pro Racing Edition Drone,” featuring powerful motors and enhanced flight stability for competitive performance.
•  In May 2023, DJI updated the “FPV Drone” with advanced range and video transmission capabilities, catering to both racing and freestyle pilots.
• In July 2022, Microsoft presented a new simulator to teach artificial intelligence (AI) drone systems. In order to help AI engineers test and improve their algorithms in a safe and controlled manner prior to using them in practical applications, Microsoft AirSim is a sophisticated virtual environment.

Segments Covered in the Report

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

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa