The toy drone market is expected to reach a market valuation of US$ 262 million by the year 2023, accelerating at a CAGR of 9% over the forecast period (2023 to 2033).
A significant increase in the market demand for educational toys has led to a growing demand for toy drones. In addition, consumers are becoming aware of new designs and technologies that will help their children grow, increasing the market demand for toy drones. For instance, Mashable's DIY building block stem drone helps children between the ages of six and ten learn engineering and design basics. Furthermore, they can fly and few studies have shown that early STEM instruction helps foster the qualities of curiosity, inquiry, and skepticism required by scientists and other innovative fields in the future.
In recent years, standard learning has become more and more popular as a way for kids to learn codes and understand how computers and electronics work. A multi-billion-dollar industry has emerged in the drone (sUAV, sUAS) industry in recent years. Industries across a range of sectors are utilizing drones to improve productivity and reduce costs. Maps, engineering, marketing, and cinematography are just a few of the many ways drone technology can be used for commercial purposes.
USA and British government regulations mandate the manufacture of kid-friendly drones and follow certain regulations regarding their innovation. In the United Kingdom, new drones must meet product standards from 1 January 2023, according to the CAA. According to their weight and capability, drones will be classified from C0 to C4, which determines where and how they can be flown. In a policy decision by the CAA, they are deemed to be referring to most drones with existing product classifications as 'Legacy drones' and would like to allow those drones to be flown until 1 January 2026 without a product classification. Under the new European Drone Regulation, DJI’s Mavic 3 Classic has received the world’s first C1 EU-type inspection certificate for drones.
As toy drones have become increasingly popular over the past few years, their affordability, accessibility, and ease of use make them excellent tools for learning about robotics and aviation. Although toy drones used to be quite limited in terms of technology, better flight times, longer battery life, and improved cameras have been achieved in recent years. The most notable advancement is that toy drones have become great tools for exploring the world of emerging technologies by individuals and small groups. Virtual currencies, encrypted communications, and even 3D printing can be accessed by individuals and small groups using toy drones. A toy drone opens up a world of possibilities that are truly limitless to the market.
Drone toys offer a fun way to explore the exciting world of drones. Flying these drones, practicing new stunts, and exploring the skies are just a few of the things they offer. From learning the basics to more complex maneuvers, toy drones are excellent training tools for drone pilots.
Toy drones have the highest market value in Europe, with a market share of 32% during the forecast period. Increasing demand for online projects in various organizations and schools in various regions has helped toy drones grow in the market.
| Data Points | Key Statistics |
|---|---|
| Estimated Base Year Value (2022) | US$ 250 million |
| Expected Market Value (2023) | US$ 262 million |
| Anticipated Forecast Value (2033) | US$ 620 million |
| Projected Growth Rate (2023 to 2033) | 9% CAGR |
In recent times, toy drones have gained lots of traction, especially among the youths. These drones have become smarter and are witnessing rapid manufacturing around the globe. Programmed intelligence in toy drones is used to control the actions and have it respond to input to offer real-time interaction and feedback, which makes them smarter.
Unlike before, placing a microcontroller in the toy is now an economical solution. These microcontrollers are Bluetooth and Wi-Fi enabled which allow connected toys to access a wide range of internet services through smartphones.
Most players are currently targeting to create drones for consumer applications. Drones along with cameras are commonly used for recreational videography and photography, wildlife and hunting monitoring, and fishing.
Currently, next-generation consumer drones are widely used for drone sports and racing. In addition to this, as drones adoption will continue to thrive, the number of drone-related service providers will simultaneously increase. Furthermore, the military sector in some regions is utilizing toy drones as a major tool to seek essential information.
For instance, recently in September 2020, Israel made greatest intelligence breakthroughs by using toy drones to gain required information across the borders of Egypt. Owing to these factors, the global toy drones market is poised to rise significantly in the near future.
On the other hand, mounting demand for the first-person view (FPV) compatible drones coupled with augmenting demand for drones for marine activities such as fishing will escalate the toy drones market growth.
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Constant Technological Advancement to Let Toy Drones Stay Ahead of the Curve
Amongst all the recent technological development, toy drones are largely witnessing innovations and advancements in the current state. With the growing adoption of autonomous flight technology, some toy drones also fly without any user guiding the path.
System-failure responses, dynamic routing, and handoffs between human and machine controllers will elevate the demand for toy drones. Consequently, toy drones are paving their way in the military landscape as military-developed technology.
In the US military reconnaissance and strike missions, drones have become a crucial component in the recent past. With the help of this technological adoption, the US Army has successfully completed some major missions. At the same time, the agriculture sector is experiencing a huge demand for toy drones for growth and development.
By enabling more efficient precision crop spraying and efficient land surveying, toy drones are helping the farmers to increase productivity and lower costs. Owing to the growing usage of toy drones in several sectors, government investments are continuously increasing.
Government is investing a huge amount in the commercial sector to develop cyberspace. In context with the aforementioned factors, the toy drones market will continue to soar over the forecast period.
Toy Drones Market to Weigh Down with Government Regulation
The toy drones technology booming at an unprecedented rate over the past few years. In such a rapidly and drastically evolving and changing ecosystem, government authorities of some countries are struggling to match the rate at which drones are reaching homes. The governments are facing difficulties in establishing drone laws, in order to match the changing landscape of drones.
For instance, Government of India had banned the use of civil drones in 2014. However, with growing adoption of the technology in other countries, it pushed the government to understand the prospects of growth with it. Therefore, in 2018, the Indian Government made changes in the policies regarding the use of drones. Such government regulations are likely to impact the growth of the toy drones market.
Examples of some of the market participants in the global toy drones market identified across the value chain include
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North America to hold a major share in the toy drones market. This trend is likely to continue over the forecast period owing to encouraging government initiatives with the development in drone technology coupled with increasing demand from businesses for drone-acquired data.
On the other hand, APAC will rise at a significant pace as China and Japan are experiencing adoption of advanced technologies and automation to counter rising labour costs. Increasing manufacturing of lightweight drones and the availability of low-cost drones in countries such as China are catapulting the toy drone market growth.
Sales of toy drones are stagnant in Europe due to the government regulations. Companies in the toy drones market are exploring new paths to transform by leveraging benefits offered by UAVs.
The toy drones market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment.
The market report also maps the qualitative impact of various market factors on market segments and geographies.
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The toy drones market can be segmented on the basis of product type, application and region.
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Toy Drones Market
