Consumer drone market “to reach USD17 billion by 2029”

The consumer drones market is expected to grow at a compound annual growth rate (CAGR) of 17.26% from USD5.713 billion in 2022 to USD17.412 billion in 2029, according to a new report from Research and Markets.

The report notes that the growing popularity of aerial capturing and integration of artificial intelligence (AI) is likely to propel market growth. “Manufacturers have focused on the automation of consumer drones using artificial intelligence, which permits the programming of navigation commands within the drone itself,” the report states. “The adoption of artificial AI allows drone users to capture and use optical and environmental data from sensors connected to the drone. Through this technology, drones can recognise objects in the air and analyse and capture data on the ground.”

The report spotlights China as a key growth market. “According to the Civil Aviation Administration of China, 1.27 million licensed UAVs were registered at the end of 2023, which was a 32.2 percent increase from 2022,” the report continues. Civilian drone use alone logged 23.11 million flying hours in China in 2023, representing an 11.8 percent increase over the preceding year.

For more information

Research and Markets

Image: Pixabay

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