Foldable Drones Market Set to Soar, Predicted to Reach $5.2 Billion by 2030

PRESS RELEASE
Published January 31, 2024

The global foldable drones market is on the brink of remarkable expansion, with a projected Compound Annual Growth Rate (CAGR) of 10.5% from 2023 to 2030, according to a comprehensive report by Fairfield Market Research. The markets revenue is anticipated to double from $2.6 billion in 2022 to a significant $5.2 billion by 2030.

For More Industry Insights Read: https://www.fairfieldmarketresearch.com/report/foldable-drones-market

Key Trends Fueling Market Growth:

  1. Rise in Social Media and Content Creation: The growing popularity of social media and content creation has propelled the demand for foldable drones, offering a practical and efficient way to capture breathtaking photos and videos from unique perspectives.
  2. Advancements in Drone Technology: Rapid advancements in drone technology have led to the development of foldable drones with exceptional performance, including stable flight, high-resolution cameras, extended battery life, obstacle avoidance, and advanced flight modes.
  3. Quadcopters and Hexacopters Dominate: In 2022, quadcopters (four-wing) and hexacopters (six-wing) were the preferred choices due to their stability, maneuverability, and ease of use, driven by the increasing demand for aerial photography, videography, and recreational drone use.
  4. Consumer/Civil Drones Take the Lead: The consumer and civil drone segment is expected to dominate the market, driven by the incorporation of drones into everyday life and their appeal for recreational activities, providing a unique perspective and exciting airborne experiences.
  5. Filming and Photography Reign Supreme: Filming and photography have established their dominance in the foldable drone market, catering to the insatiable demand for visually compelling content in the digital age.
  6. Media & Entertainment Segment Thrives: Foldable drones are increasingly used by content creators, videographers, filmmakers, and social media influencers to capture stunning aerial footage and photos, enhancing the visual appeal of their projects.

North America Leads the Market:

North America is poised to be the front-runner in the global foldable drones market due to its technological advancements and innovative landscape. The regions flourishing market ecosystem benefits from the presence of well-known drone manufacturers, IT firms, and a large consumer base.

Asia Pacific Emerges as a High-growth Market:

Asia Pacific is experiencing significant growth in the filming and photography sectors, driven by the burgeoning media and entertainment industry, increased demand for high-quality visual content, and the rise of social media platforms. Foldable drones meet the needs of content creators, filmmakers, and influencers by capturing captivating aerial shots.

Key Growth Drivers:

  • Demand for Filming and Photography: Drones have revolutionized the way filmmakers, photographers, and content creators capture imagery, offering dynamic angles and perspectives, enhancing visual content quality.
  • Media & Entertainment Industry Demand: Foldable drones cater to the media and entertainment industrys need for mobility, ease of use, and advanced camera capabilities, elevating the aesthetics of projects.
  • Portability and Convenience: Foldable drones are popular for their portability and convenience, meeting the demand for easily transportable technology in an increasingly mobile world.

Major Challenges:

  • Limited Payload Capacity and Flight Time: Foldable drones often have reduced payload capacity and shorter flight times, limiting their range of applications. Technological advancements are needed to overcome these limitations.
  • Safety and Security Concerns: The growing use of drones has raised concerns about safety, privacy, and unauthorized use, leading to stricter regulations and compliance standards.

Leaders in the Global Foldable Drones Space:

  • DJI
  • RIEGL LMS
  • Intellisystem Technologies
  • Parrot
  • Heliceo
  • EMOTION
  • Diodon
  • ALPSdrone
  • ONYXSTAR
  • Autel Robotics
  • Skydio
  • PowerVision
  • Hubsan
  • Eachine
  • Zero Zero Robotics

Market Segmentation:

By Type:

  • Four Wing
  • Six Wing
  • Eight Wing

By Drone Type:

  • Consumer/Civil
  • Commercial
  • Military

By End-use Industry:

  • Filming & Photography
  • Inspection & Maintenance
  • Mapping & Surveying
  • Precision Agriculture
  • Surveillance & Monitoring
  • Others

By Buyer Type:

  • Agriculture & Forestry
  • Delivery & Logistics
  • Media & Entertainment
  • Construction & Mining
  • Oil & Gas
  • Security & Law Enforcement
  • Recreational Activity
  • Others

By Geographic Coverage:

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

Global Foldable Drones Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 (By Type Coverage, By Drone Type Coverage, By End-use Industry Coverage, By Buyer Type Coverage, By Geographic Coverage and By Company)): https://www.fairfieldmarketresearch.com/report/foldable-drones-market

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