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Toy Drones Market – Top Companies, Regional Growth, Demand and Opportunity by 2023

Growth Prospects, Key Opportunities, Movement and Projections 2018-2023

Several companies are currently focusing on developing drones for consumer applications. Drones with cameras are being widely used for recreational photography and videography, hunting and wildlife monitoring, and fishing. Of late, next-generation consumer drones are also being used for drone racing and sports. Moreover, as drone adoption accelerates, the number of drone-related service providers is expected to increase. These factors are significantly boosting the growth of the global Toy Drones market.

The global Toy Drones market is estimated to register a CAGR of nearly 17.21% during the forecast period of 2019 to 2028.

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The growing demand for first-person view (FPV) compatible drones and increasing use of drones for marine activities such as fishing are propelling market growth. However, stringent government regulations regarding drone use might hamper market growth.

Research Methodology:

The market values and forecast are derived using the MRFR research methodology, which includes secondary research, primary interviews, data triangulation and validation from an in-house data repository and statistical modeling tools.

The growth of the global Toy Drones market can be attributed to the increasing adoption of 3D printing for manufacturing drone parts and rising use of advanced drone cameras for various activities such as wildlife monitoring and hunting. However, stringent government regulations regarding drone use and the limited flight range and endurance of Toy Drones may hinder market growth. For example, in the US, a remote pilot license from the Federal Aviation Administration (FAA) is required to fly drones for recreational purposes.

Segmentation:

On the basis of type, the market has been segmented into quadcopters and others. In 2018, the quadcopters segment dominated the global market and is expected to register the higher CAGR during the forecast period.

Based on application, the market has been divided into recreational photography and videography, drone racing and sports, and others.

By sales channel, the market has been classified as distribution channel and direct channel. The distribution channel segment dominated the market in 2018 and is expected to exhibit the higher CAGR during the forecast period.

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