Drone Racing Market May Triple in Dimension by 2027, Report Says

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Drone racing may elevate to a half-billion-dollar market in less than 5 years, according to a recent marketing study.

Transparency Market Research this week released a projection report predicting the drone-racing market will reach $237 million by the end of this year and launch into three-fold growth to $786 million by 2027.

“At present, multi-rotor drones that are currently deployed for drone racing have not updated, in terms of technology, and have tremendous room for improvement,” the report stated, adding that drone manufacturers would focus on improving aerodynamics and drag minimization.

In terms of volume, the report projects sales of almost 15,000 units by 2027 – a growth rate of 19 percent.

Drone racing begin to take flight as a rising trend in 2015 with the launch of the Drone Racing League. The league is currently preparing to launch its fifth season and has sponsored races in the U.S., Germany and France.

Last year, the DRL announced the release of the DRL Racer4 – a racer the league says can go from 0-90 mph in less than one second. The DRL also launched RaceAI, a fully autonomous racing drone.

“Organizers of the drone racing leagues are continually introducing innovative drone-racing circuits that are expected to encourage and drive innovations in the racing drone market. For instance, the Drone Racing League launched an Artificial Intelligence Robotic Racing (AIRR) Circuit, a drone racing series, wherein university students and tech-geeks are invited to develop an AI framework that will enables the racing drones to fly through racing league circuits without human intervention.”

The greatest challenge the industry faces is the gulf between experienced users who know how to build a DIY racing drone from the ground up, and newbies who will seek ready-to-fly models.

“Making a customized racing drone by handpicking and combining all components involves a lot of complexities and time, owing to the requirement for multiple types of components such as a battery, camera, drone frame, motor, and other accessories. On the contrary, ready-to-fly racing drones can be used directly, without wasting any time on assembling.

“Moreover, ready-to-fly racing drones pose a serious threat to DIY racing drones, especially if they are being built by an amateur who does not have any knowledge of drone making.”

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