Grand View Research.com has announced the addition of “Consumer Drone Market Analysis and Segment Forecasts To 2024” Market Research report to their Database.
The global consumer drone market size is expected to reach USD 4.19 billion by 2024, according to a new report by Grand View Research, Inc. The substantial growth prospects of the market can be attributed to surging eminence of drone flying as hobby initiatives such as UAV photography and racing. Administrative support through permitting drone flying for non-commercial purposes in select geographies is stimulating the growth of global consumer drone market.
Consumer UAVs have gained prominence owing to their ability of high-resolution image and video capturing, dynamic novel design concept, as well as adequate operational intervals. Upcoming favorable initiatives by regulatory bodies, such as Federal Aviation Authority (FAA) and European Aviation Safety Agency (EASA), and increasing governmental spending on such advanced UAVs are anticipated to drive the industry growth over the forecast period.
An emerging trend in the industry is the development of drones with hydrogen fuel cells that in the back end conserve energy and supply power to UAVs, thereby enabling longer flight hours. Furthermore, dynamic concept design and enhanced flight capability of UAVs have revolutionized the gaming, electronics, and associated hobby markets.
Aerial photography enthusiasts are profoundly accepting drones in complimenting their hobby of exploring and capturing dynamic images and videos. The introduction of high-resolution HD 4K cameras and advanced Gimbal systems by manufacturers are presumed to boost the adoption of UAVs in photography and nature exploration.
However, smaller flight time due to shorter battery life of drones, as well as registration obligations, to regulate the issuance of official drone registration certificate in select geographies are anticipated to challenge the industry growth over the forecast period.
Browse full research report on Global Commercial Drone Market: http://www.grandviewresearch.com/industry-analysis/consumer-drone-market
Further key findings from the report suggest:
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Grand View Research has segmented the global consumer drone market on the basis of product, application, and region.
Consumer Drone Product Outlook (Volume, Thousand Units; Revenue, USD Billion 2013 – 2024)
Consumer Drone Application Outlook (Volume, Thousand Units; Revenue, USD Billion 2013 – 2024)
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies